The Fraser Coast Property Industry Association president, Glen Winney, said this morning that Rental property in Hervey Bay provides the perfect blend of career and lifestyle for residents. During the July Business Breakfast at the Beach House Hotel, Mr Winney was the guest speaker.

Mr Winney shares his expertise on the property market opportunities within the seaside town, which has seen a property boom in recent months. According to him, Hervey Bay’s greatest asset is its ability to attract new residents who want the lifestyle of living in a whale watching capital of the world without sacrificing their careers. Thanks to technology, people can now live the lifestyle and have the career they want,” Mr Winney said.

“People have the option of working remotely.”

Mr Winney said the COVID-19 pandemic has changed the world in the best possible way for Hervey Bay’s property market, even if it has turned the world on its head. Those seeking to escape the ongoing lockdowns in capital cities and use the Internet to work said regional areas like the Fraser Coast were particularly appealing. Thousands of people are lining up to inspect rental properties, and homes are being sold in a matter of days.

A number of Hervey Bay suburbs have seen property prices increase by more than 20% in the past twelve months due to increased demand.

According to Mr Winney, Hervey Bay is officially experiencing a property boom.

The demand for these products is unlikely to fade anytime soon. Currently, Hervey Bay is at a stage in its maturity where booms and busts are no longer in effect.

“We now have the size and population to establish stability and critical mass for moving forward.”

144,833 people will live in the region by 2036, according to the Fraser Coast Regional Council website. Hervey Bay’s housing situation provides opportunities within the property market, according to Mr Winney. However, if people want to take advantage of the situation, they need to do their research. According to Mr Winney, understanding what people want is vital as the population grows.

The medium density townhouse and unit market is expected to grow significantly in the future, driven by the fact that they will be attractive to both older residents and millennials who do not necessarily want large lots.

Despite not always being viewed as “sexy,” low-cost housing remains in high demand.

He said multi-story buildings would attract attention due to people wanting to live in or near Pialba’s CBD being able to occupy one or two-bedroom units. Subdividing properties was identified as a way to take advantage of the boom for residents living outside of the city center. The most important aspect of growth was the availability of amenities, according to Mr Winney.

It is important for shoppers and tourists to be able to walk to stores and attractions.

A close proximity to the sea is an additional factor that attracts people to the Fraser Coast.

 

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