Hervey Bay's affordability and coastal lifestyle drive population growth: HTW residential
The Fraser Coast population continues to increase at a slow, steady pace with the years between 2015 and 2018 fluctuating at between 1.16% and 2.03%, according to the latest Herron Todd White (HTW) residential report.
The report notes growth projections for the Fraser Coast population have been forecast to increase from 108,543 in 2019 to 147,099 in 2036, equating to an overall 35.52% rise and an additional 22,800 dwellings.
"Recent migration trends have been led by retirees, as well as families of both young and older parents," the valuation firm said.
These new residents have largely migrated from other south-east Queensland municipalities, including Gympie and South Burnett areas.
"Affordability is seen as a major driver for population growth with particular focus on the coastal lifestyle," the valuation firm added.
"There is also demand for dual occupancy properties for older parents or young adults residing with combined incomes that improves affordability for housing."
The Fraser Coast Regional Council considers the area to have a large supply of future residential land with targeted areas such as Hervey Bay – South West and the Nikenbah-Dundowran Future Growth Area, located on the fringes.
A three bedroom house in Nikenbah has recently been sold for $325,000.
The home at 57 Samarai Drive (pictured below) comprises three bedrooms, separate living room, open plan living/kitchen/dining area, and garden.
It's located close to schools, hospital and Stockland shopping centre.
Burrum Heads, Toogoom, Craignish and Dundowran Beach have also been identified.
A two bedroom duplex at 2/10 Bentwood Street, Burrum Heads (pictured below) is on the market with a price guide of $289,000.
Located just two streets back from the beach, the home comes with two bedrooms, kitchen with stone bench tops, and attached garage.
Closer to Maryborough, modest growth is expected for the western and southern hinterland for rural residential estates and areas near the Bruce Highway, the HTW report noted.
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