Hervey Bay market continues to improve: HTW residential

The Hervey Bay market is still improving with continued activity across most asset classes, according to a recent Herron Todd White (HTW) residential report. 

The report notes that house and land packages in the estates generally priced below $450,000 are appealing to a mix of owner-occupiers and investors.

The relativity of prices within some estates is becoming a concern with a broad range of cost for a similar product.

Vacant land prices appear to have improved, especially along the Esplanade with a number of sales now over $500,000 for quarter acre lots with views.

The rental vacancy rate remains tight which is appealing to investors in the mid-range asset class. Gross returns in the order of 5% are achievable.

"Dundowran Beach and Craignish continue to be the most active for property priced above $700,000," the valuation firm said. 

"These areas appeal to buyers due to the larger lots, good size homes and generally extensive ancillary improvements."

Since November 2018, there have been seven sales of property over $700,000 in these areas.

A four bedroom architecturally designed house in Dundowran Beach has recently been sold for $802,000.

Set on a 2,802 square metre level corner block, the house at 4 Nautilus Court (pictured below) comprises four large bedrooms with pool views, parents retreat or media room, large family kitchen, open plan living area and four bays sheds.

The home is just across the road from the Dundowran Beach. 

"There have also been two sales at $1.1 million and $1.2 million along the Esplanade following three earlier sales from January 2018 including a penthouse unit for $1.29 million.

"These sales are encouraging for the area, indicating that buyers are willing to spend the money if property is priced right, no matter what the price level. Looking forward to the next six months and hopefully continued growth in all asset classes," HTW said. 

The Treehouse (pictured below), a Dundowran Beach five bedroom house on four acres is currently on the market with over $1.2 million hopes. 

Located at 43 Sempfs Road, it comes with open plan living area, entertaining deck with outdoor kitchen, four bedrooms, large study or fifth bedrooms, and indoor swimming pool.

It's less than 1 kilometres away from the golden sands of Dundowran Beach and 15 minutes drive from the amenities and facilities of Hervey Bay.