Hervey Bay renovation activities slow down: HTW residential
The supply of housing stock on the Hervey Bay residential market has dropped considerably, however demand remains steady with some contracts considered to be at the upper end of market parameters, according to the latest Herron Todd White (HTW) residential report.
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
The report notes the Fraser Coast has slowly started to come alive again since the lifting of the first stage of restrictions, with day trips now permitted to Fraser Island.
Small cafes have reopened at this stage, with some larger establishments only offering take away meals and bottle shop drive through service.
Some retail outlets which appear to be doing quite well in these tough times include the local fishing supply store, office supplies and printer refills due to so many working from home.
"Queensland Health reports that the Wide Bay had a total of 24 cases of COVID-19 with 24 now recovered and no active cases, which is very encouraging for the region. We look forward to stage two in June when caravan parks and camping will be permitted once more," the valuation firm said.
The vacancy rate for rentals remains low with rents stable. Property values are also stable, with no noted change across any price point, the HTW report noted.
"Renovations have slowed over the past few months on the Fraser Coast as consumers appear to be conserving their dollars and energy.
Local builders have reported that the demand for new owner- occupier homes remains consistent with locals providing enough work for the rest of the year. Work in the construction industry has continued throughout the crisis which has been sobering for regional employment," the valuation firm said.
A fully renovated home in Eli Waters has recently been sold for $155,000.
The two bedroom, one bathroom house is situated at 89 Cherry Street Hazelmere Village 14 Ibis Boulevard (pictured below).
It features modern kitchen, new carpet throughout the home, new TV aerial and new LEG lighting.
A current listing is a renovated four bedroom house in the seaside suburb of Urangan.
The 73 Dayman Street home (pictured below) has been listed for sale with a price guide of $675,000.
It comes with four bedrooms, open plan dining and living area, enclosed sunroom, study or office and outdoor entertaining area.
