Fringes of Queensland's Whitsundays impacted by Mackay, in downturn: HTW

Fringes of Queensland's Whitsundays impacted by Mackay, in downturn: HTW
Fringes of Queensland's Whitsundays impacted by Mackay, in downturn: HTW

Queensland's Whitsundays property market was at the start of recovery cycle for houses while it was approaching the bottom of the market for units, according to valuation firm Herron Todd White's latest property clock.

It occupied the same position in April too, which also covered the fringe areas of Whitsundays.

Whitsundays has a few fringe suburbs and rural townships scattered mostly to the south and west of Whitsundays. The properties in these areas are small residential lifestyle and these continue to show a stable market.

However to the south, the areas of Midge Point and Bloomsbury are showing a downturn in the market and seem to be more affected by the Mackay market as when times were good, people where looking for their beach hut or fishing weekender and most buyers were from Mackay.

Now that the market in Mackay has had a large downturn and with the continuation of job losses there, fewer buyers are heading into this area. Laguna Quays was once a thriving golf course resort with unit and townhouse style accommodation.

"Since the golf course and all the amenities were closed, parts of the complex are now extremely run down with the exception of the units which the body corporate ensures are presented in a good condition," it noted.

These are currently selling at a fraction of the price they once were, however, maybe there is light at the end of the tunnel for this area as there is a new owner so we will wait with interest to see any resulting changes. 

Property Observer went looking for recent sales in the fringe areas of Whitsundays and found two recent ones in Midge Point. There was no recent data for median sales for Midge Point on CoreLogic RP Data.

A three-bedroom holiday home at 8 Peters Avenue Midge Point Qld 4799 traded for $245,500.

 Fringes of Queensland's Whitsundays impacted by Mackay, in downturn: HTW

 

A one-bedroom house at 33 Nielsen Pde. Midge Point Qld 4799 sold for $270,000, according to RP Data.

 

Fringes of Queensland's Whitsundays impacted by Mackay, in downturn: HTW 

 

Tags: 
Property market Whitsundays

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