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Capricorn Life | Buyers Agent

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

CENTRAL QUEENSLAND

1800 543 328

24/7 Customer Support

Mon - Fri: 9:00 - 17:30

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What was once a sleepy seaside town 40 minutes outside of the Beef Capital Rockhampton is now one of Queensland’s hottest real estate markets.

The pristine Capricorn Coast has had property buyers in a frenzy for the last 24 months which has seen Yeppoon’s median house price grow by a staggering 32%.

Image: Yeppoon, Capricorn Coast 

In January 2021 the median house price was only $460,000 now its an eye watering $610,000. A huge influx of interstate buyers predominately during the COVID period were regularly offering 3-5% over asking price and many were buying with cash.

It was a very heated marketplace and many real estate agencies were surprised by the demand and struggled to set price expectations on their listings. The aftermath of this COVID frenzy has been unfavourable for many active buyers now searching for a home or investment in Yeppoon.

The market has seen listing volumes deteriorate and inventory levels down to below 1%. It’s had an adverse effect on the market as rental stock diminished because of own occupier buyers.

These owner occupier buyers overall have reduced rental supply purchasing rental stock over the last 24 months, this caused vacancy rates to plumet and the median rent ballooning to $500 dollars per week.

The inflated median rents and lack of supply of rental stock has many families nervous to sell their homes in fear of having nowhere to go, therefore withholding supply from the marketplace.

Many vendors also fear that they won’t be able to purchase another home in the area if they wanted to upsize or downsize given the lack of listing volumes. So, it’s been very trying buying conditions in Yeppoon for active property buyers.

Yeppoon is in a situation where demand is significantly higher then supply and with many big game changers in the pipeline such as Surf Lakes and investors now circling in the area, it will continue to spike demand and put further downward pressure on supply.

Image: Surf Lakes, Capricorn Coast 

With the supply pipeline looking rather grim and real estate agencies streaming for listings, property buyers may continue to struggle navigating this property market still competing with cashed up interstate buyers, price increases and in multiple offer scenarios in 2023 and beyond.

If you need help navigating this market reached out to the Capricorn Life team. We get access to pre-market and off-market opportunity and understand price trends on the ground.

Buyers Agent Yeppoon.

Capricorn Life Buyers Agency

Troyson Bassani

Owner & Head of Research

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