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Capricorn Life | Buyers Agent

Rockhampton, Gladstone, Mackay, Airlie Beach, Emerald, Bundaberg, Yeppoon, Agnes Waters, Whitsundays

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On Wednesday August 9th, 2023, the Capricorn Life Buyers Agency team hosted the live and free Yeppoon Property Market Update event.

What the Capricorn Life Buyers Agency team did was analyse and dissect the Yeppoon Property Market to determine what’s going on and how local property buyers can better navigate it.

What were the findings?

  1. The median house price is still growing

We discovered that from May-July 2023 the median house price grew by 0.8% from $607,000 to $614,000. This house price growth appears to be not slowing down despite consecutive interest rate rises and a wave of negative sentiment regarding a market crash. We also learnt that Yeppoon is still very affordable relative to Southern Markets such as Gold Coast and Sunshine Coast therefore has plenty of upside potential for continued future price growth.

Rosslyn recorded the highest 3-month price growth between May-July for a individual suburb and its median house price currently sits at $995,000. Hidden Valley notably had the lowest median house price in Yeppoon currently sitting at $597,000.

Image: Yeppoon Median House Price Trend 2023

Image: Yeppoon suburbs 3-month price change 

  • Stock levels are very low

Yeppoon stock levels currently sit at 0.4% for the month of July and have maintained a very low trend below 1% for 2023. We have seen a total of 198 properties collectively listed for sale between May-July 2023 this figure extremely low when compared to the number of dwellings available for sale in Yeppoon of approximately 13,000 unique houses.

The Capricorn Life Buyers Agency team believe that the low supply can be attributed to extremely low vacancy rates, which is causing many homeowners to withhold sale as there are not enough rental properties available to move into. In addition, the lack of options available for purchase is causing many homeowners to hold and not sell. Suburbs with the lowest supply levels included Pacific Heights, Barlows Hill and Rosslyn.  

Image: Yeppoon Stock Levels – July 2023 

Image: Yeppoon stock levels – Individual suburbs 

  • Days on Market

Properties in Yeppoon are taking approximate 43 days to sell suggesting that it’s a property market with very healthy demand levels. This data suggests that most properties are going under contract within the first 7 days of being on the market. There were also suburbs such as Cooee Bay and Lammermoor that had an average day on market of under 20 which suggest that the market has cash buyer related activity in it, resulting in very short transaction timelines.

Image: Yeppoon Days on Market – July 2023

Image: Individual suburbs Days on Market – July 2023

Stay tuned for part 2 where we continue to deep dive into the market insights discovered at this year’s live and free Yeppoon Property Market Update Event.

Troyson Bassani

Owner & Head of Research

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