Whitsunday property prices almost triple in Mandalay after exodus
An exodus to Qld post Covid-19 has resulted in a massive triple digit spike in demand across some beachside suburbs, with prices rising as much as 49.2 per cent year on year.
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An exodus to Qld post Covid-19 has resulted in a massive triple digit spike in demand across beachside suburbs, with prices rising as much as 49.2 per cent year on year.
Beachside suburbs outside of Greater Brisbane have experienced the biggest jump in demand for houses with eight places posting triple digit jumps in demand: Mandalay in the Whitsundays (168.5 per cent), South Mission Beach (157.4%), Mission Beach (123.3%), Boonooroo (121.1%), East Innisfail (120.0%), Wonga Beach (119.9%), Poona (105.9%) and Wongaling Beach (104.3%).
Apartments are also extremely popular, with five-star beachside suburbs showing triple digit rises in demand led by one in Greater Brisbane, with units in Redland Bay recording a massive 123.8 per cent spike in demand.
It was followed by four outside the capital region with triple digit rises: Cannonvale (up 113.8%), Pimpama (110.4%), Airlie Beach (110.0%), Agnes Water (100.0%).
That strong beachside attention, especially as interstate migrants and investors look to gain a lifestyle footing in the Sunshine State, was also driving up prices across the state.
The REA Group PropTrack data also found median prices for houses across the entire top 10 cheapest seaside suburbs in the rest of the state were lower than anything Brisbane had to offer – and all under $340,000.
East Innisfail, where the median house price is just $217,500, led the value pack for seaside house price medians.
Forrest Beach was the second cheapest across the state at $260,000, followed by Innisfail Estate $280,000 and Gladstone Central $282,500.
The cheapest seaside suburb in Brisbane is Deception Bay, where the median house price is $460,000, followed by Bellara $489,000, and Beachmere $545,000.
At least two beach suburbs were below a $200,000 median price for units – Holloways Beach $185,750 and Gladstone Central $197,000, but the REA-PropTrack data showed value in North Mackay $205,500, South Mackay $221,000 and Yorkeys Knob $231,500.
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