Lifestyle buyers pursue value as the Whitsundays sails ahead as the market to watch

Lifestyle buyers pursue value as the Whitsundays sails ahead as the market to watch
Render of a residence in the Shute Harbour Marine Resort
Alison Warters January 23, 2023

The Whitsunday property market is shaping up as one to watch this year as southern buyers continue to flock to the Whitsundays, cementing the area as one of Australia’s key lifestyle markets. 

Recent market activity suggests that the Whitsundays is going head-to-head with the long sought-after Gold Coast, Byron Bay and Sunshine Coast regions, proving to be favourable destination for buyers south of the border. 

Rob Taylor from Taylors Property Specialists revealed that the Christmas and New Year period has shown continued strong demand from southern states in the Whitsundays area.

“January 2023 has started in a positive manner with continued interest from southern buyers,” said Taylor.

Lifestyle buyers pursue value as the Whitsundays sails ahead as the market to watchRender from the Shute Harbour Marine Resort. Image supplied.

“We’ve seen steady demand for property from southern buyers who have identified the Whitsundays as a key lifestyle market, especially blue chip locations such as Hamilton Island and Airlie Beach,

“With growth in the state’s south-east coupled with limited stock due to rising construction costs, demand is outstripping supply and attention has turned to markets further north, especially among lifestyle buyers.”

Among the major projects currently marketed by Taylors is the $350 million Shute Harbour Marina Resort which has drawn inquiry from buyers seeking the lifestyle and value offered by the Whitsundays.

“Already in the first few weeks of the new year buyers have secured numerous $1 million-plus lifestyle homes,” Taylor said.

“The enquiry rate hasn’t shown any real signs of slowing down from southern interest. While we don’t expect to see the hectic market activity of early 2022, we can expect a far more realistic, solid market which is best for the long term.

The Shute Harbour Marina Resort master plan will feature 58 luxury waterfront residences to be located along the marina, each with their own private marina berth of between 25 and 35 metres.

When completed, the marina village will comprise mixed retail and commercial Pier 61, restaurants, cafes, and swimming pool, as well as managed apartments with resort club facilities for berth owners.

Lifestyle buyers pursue value as the Whitsundays sails ahead as the market to watchRender from an apartment in the Shute Harbour Marine Resort. Image supplied

As one of the biggest residential-resort projects in North Queensland in more than a decade, the transformational development is also destined to become the region’s premier lifestyle and leisure precinct – the perfect place to live, work and play.

Development of the first stage of Shute Harbour Marina Resort, which will include the marina and the stage-one release of land and marina berths, is expected to take two years to complete.

“Buyers are more willing than ever to head to the regions for a lifestyle and property that meets their needs - it’s a value proposition that is likely to see the property market in the Whitsundays hold its own for some time to come.”

Taylor believes that the lifestyle markets such as the Whitsundays will continue to perform really strong despite headwinds from inflation and interest rates.

“Talk of interest rates potentially stabilising in the coming months will add to this. However, what we are finding is these southern lifestyle buyers don’t seem to be as greatly impacted by these rate increases,” he added. 

Alison Warters

Alison Warters is a property journalist for Urban, based in Sydney. Alison is especially interested in the evolution of the New Build/Development space, when it comes to design innovation and sustainability.

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