Whitsunday

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<p>Local agents confirm Whitsunday is not seeing any reductions in sale values, however volumes of sales are lower than what was previously occurring prior to the pandemic, according to the June Herron Todd White (HTW) residential report. </p>
<p>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.</p>
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<p><span>The report notes the Whitsundays are starting to reopen with cafes and some tours now operating within the government restrictions. </span>Cafes and restaurants are still providing take away services. People are out and about enjoying the lightening of the restrictions.</p>
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<p><span>"Renovations in the Whitsundays! While I have not seen any contracts for renovations and or additions over the last couple of months, it must be happening as Bunnings appears to be the best shop in the Whitsundays! </span></p>
<p><span>"The car park appears to be busy all week end. While we had to all stay at home it appears that the DIY home owners have been hard at work!</span></p>
<p><span>"We need to get our tourists back. Let’s hope that we can track on a positive note with limited to no cases new cases of Covid 19," the valuation firm said. </span></p>
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<img src="blob:https://www.urban.com.au/f7585dff-728e-4628-ae03-c0828bd0c00e" alt="page26image3754256" width="0.500000" height="0.500000">A current listing is a renovated Dingo Beach house with a price guide of $372, 600.</div>
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<div class="section">Set on an 839sqm block, the <a href="https://www.realestate.com.au/property-house-qld-dingo+beach-133788654" target="_blank">81 Pioneer Drive </a>home (pictured below) comprises two bedrooms, two bathrooms and double garage. </div>
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<div class="section">It also features modern kitchen, vinyl plank flooring and full A/C throughout. </div>
<div class="section"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/dingo%20beach%201.jpg" alt=""></div>
<div class="section">A recent sale was a renovated three bedroom house in Proserpine. </div>
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<div class="section">The family home at<a href="https://www.realestate.com.au/sold/property-house-qld-proserpine-132372750" target="_blank"> 5 Kanandah Street </a>(pictured below) was sold for $321,000.</div>
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<div class="section">Set on a 1,343sqm block, it comes with three bedrooms, stylish kitchen, multiple living areas and lock up garage. </div>
<div class="section"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/prosperpine.jpg" alt=""></div>
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Whitsunday sees increasing DIY home renovation activities: HTW residential 

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<p><span>A freehold Shute Harbour waterfront site in Queensland's Whitsunday Islands has been snapped up for $2.65 million.</span></p>
<p>The development site at <a href="https://www.propertyobserver.com.au/https://raywhitewhitsunday.com.au/properties/sold-commercial/qld/shute-harbour-4802/other/2257179" target="_blank">3344 Shute Harbour Road</a> is on two titles totalling 8,199sqm.</p>
<p>The property was offered via an expressions of interest campaign and was sold by Andrew Burke of Ray White Special Projects Queensland, and Mark Beale, Principal of Ray White Whitsunday.</p>
<p><span>T</span>he asset received six offers during the campaign and they were from a mix of marine industry, land bankers and residential developers, Burke said.</p>
<p><span>“The vendor was a local businessman who previously had the site used as a hotel before Cyclone Debbie in 2017 destroyed the buildings, and with retirement on the horizon, they decided to sell.</span></p>
<p><span>“The buyer was from regional NSW but was familiar with the location as they frequently holiday nearby," Bruke said. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/3344%20Shute%20Harbour%20Rd%20Aerials-8.jpg" alt=""></span></p>
<p><span>The Whitsundays offered a collection of beaches surrounded by waters decorated with coral gardens.</span></p>
<p><span>"Shute Harbour is commonly described as the natural harbour location south east of Airlie Beach. </span>It contains a pocket of development isolated from the centre of Airlie Beach by a significant national park," ” Beale said.</p>
<p>Zoned mixed use, the site offers opportunities for residential, tourist accommodation, business, retail or service industry.</p>
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Whitsunday waterfront site sells for $2.65 million

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<p>Whitsundays has a balanced housing market, according to Herron Todd White’s latest report.</p>
<p>The property valuation firm says that Whitsundays has a tightening rental vacancy trend with a fair demand for new houses.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.jpg" alt=""></p>
<p>This is supported by a steady trend of new houses being constructed as well as demand for new housing.</p>
<p>Whitsundays' housing market is starting to recover although new properties are almost never sold at prices that exceed their potential resale value.</p>
<p>A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-124269270" target="_blank">3264 Shute Harbour Road</a>, Whitsundays (above) is currently listed for $2,000,000.</p>
<p>A seven bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-121901782" target="_blank">383 Mandalay Road</a>, Whitsundays (below) is currently listed for sale.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/383%20Mandalay%20Road.jpg" alt=""></p>
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Whitsundays' housing market balanced: HTW

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<p>A growing regional economy, driven by rising tourism numbers and major projects, has Whitsundays Airlie Beach poised as a lucrative opportunity for property investors, according to real estate group PRDnationwide.</p>
<p>All the key drivers of a rising property market are in place and properties are selling at the fastest pace in nine years, says PRDnationwide Whitsunday principal Christie Leet.</p>
<p>“Activity in the property market picked up to a good pace in the second half of 2016, pushing the Whitsundays into a balanced market and ready for another major upswing (after nine years of weak prices),” said Leet.</p>
<p>“The Australian dollar has stabilised at a level that entices overseas visitors and we have domestic visitors taking advantage of low airfares and increased capacity.</p>
<p>“Properties are selling quickly again and the excess housing and rental stock has all but vanished.”</p>
<p>Also, land is limited in the Whitsundays, with much of it taken up by Conway National Park and the last beachfront blocks that can be developed on the Whitsunday Coast are now under construction at Funnel Bay.</p>
<p>“With major construction and refurbishment projects under way or about to begin, there will be even greater demand for housing as construction workers move into the region,” he said.</p>
<p>The Whitsunday Coast Airport has an expansion project on the table with a $59 million masterplan, including plans for the introduction of international flights.</p>
<p>Redevelopments at Daydream Island Resort ($30 million) and South Molle Island ($200-$300 million), as well as a $600 million redevelopment at Lindeman Island Resort, are fuelling jobs growth on the Whitsunday Coast.</p>
<p>Leet said the start of construction at the Adani Carmichael Coal Project, a $16 billion investment in the Central and North Queensland economies, and the reopening of the Collinsville mine, which is in the Whitsunday Shire, would provide even greater demand on housing in the Whitsundays.</p>
<p>“The workforce will be fly-in-fly-out and we have seen in the past that miners like to set up a home base where the family can enjoy the best North Queensland has to offer,” he said.</p>
<p>“Thousands of miners and their families will also be looking for somewhere to relax and enjoy their time off without having to travel too far.”</p>
<p>Tiger Airways is adding 110,000 extra seats into the Whitsundays from March and Jetstar has announced they will add another 65,000 seats into the Whitsundays from April.</p>
<p>Census 2011 results from the Australian Bureau of Statistics indicate that the construction, transport and utilities sectors employ the most permanent residents in the region combined.</p>
<p>According to Queensland government estimates, the Whitsunday region had a resident population of 34,016 as at June 2013. Medium population projections suggest the region may experience average population growth of 2.1% (or 691 persons) per annum over the next two decades, with an estimated resident population of 49,700 persons by the end of 2036. Based on an average household size of 2.4 persons per residence, this level of population growth may yield demand for an additional 288 residential dwellings per annum over the same period. With the average number of new dwelling approvals for the last 5 years at 173p.a, this leaves an expected shortage of 115 dwellings per year. This shortage will push house, land and rental prices upwards as the demand increases.</p>
<p>“The lifestyle benefits of the Whitsundays, represented by the Great Barrier Reef, the islands, beautiful beaches (including one of the world’s best), and natural environment, are well documented and have helped the region become the number one Great Barrier Reef destination.”</p>
<p>But it is the underlying strength of tourism and the local economy, combined with the timing of the market, that is behind the sudden move in the property market.</p>
<p>“The all-important construction industry is ramping up with key projects already under construction or about to start but the low vacancy rates are creating the demand needed for more accommodation projects to come online,” Leet said.</p>
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Whitsunday's growing economy puts property back in overdrive: PRDnationwide

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<p><span><span>GUST OBSERVER</span></span></p>
<p><span><span>We have compared some sales data on Airlie Beach and Cannonvale units against Mackay units. </span></span></p>
<p><span><span>When looking at the Mackay unit sales (not Mackay Harbour),  the number of sales has dropped from a high 215 sales in 2013 to financial year 2016 only recording 40 sales (median price $283,000). Mackay Harbour achieved 7 sales throughout the 2016 financial year, which was down from 30 sales in the 2011 financial year (median price $465,000).<br><br>Cannonvale units have bounced back a little in the number of sales with 78 recorded sales, up from 52 sales in the 2015 financial year (median price $290,000 – up from $250,000).</span></span></p>
<p><a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.09.48%20PM.png" target="_blank"><span><span>Click to enlarge</span></span></a></p>
<p><span><span><img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.09.48%20PM.png" alt=""></span></span></p>
<p><span><span>Airlie Beach unit sales have been reasonably consistent last year with 72 sales, which is down from 84 in the previous year. </span></span></p>
<p><span><span>The median price has dropped to $348,000. It is interesting to see the difference in the median prices for the units at Mackay comparing to Airlie Beach. In my mind, the units in Airlie Beach still represent great value for money when you can get an excellent ocean view starting as low as $230,000.<br><br>The tourism numbers coming into the region are still going very strong and this is reflecting on the gross income on the holiday let apartments. </span></span></p>
<p><span><span>Stephanie Bacon from our sales team has a severely reduced apartment at the Port of Airlie for only $635,000 which has income statements of an identical unit in the complex that is 100 percent holiday let for well over $80,000 per annum.</span></span></p>
<p><a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.11.28%20PM.png" target="_blank"><span><span>Click to enlarge</span></span></a></p>
<p><span><span><img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.11.28%20PM.png" alt=""></span></span></p>
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<p><span><span>On a net basis this is around 4 percent which is very unusual for holiday letting properties in Airlie Beach. </span></span></p>
<p><span><span>Most holiday let apartments return between 2 percent and 3 percent nett. </span></span></p>
<p><span><span>Add the fact that the complex is one of the highest rated complexes in the area and it could be the best buy in your portfolio. <a href="https://campaign.raywhite.com/collect/click.aspx?u=9GxQQ+FJ4ndpBD8fNX7G8KClk3SSuzTl45qNoLo6BuasQ/3DOXSINysEh1ywyRwxrIldNM9w6T4ciReJKplyDA==&amp;rh=ff0096295de6c5cc6f21e214cf46a47315f84bb7" target="_blank"></a></span></span></p>
<p><br><em>Mark Beale is principal of Ray White Whitsunday and can be contacted <a href="https://raywhitewhitsunday.com.au" target="_blank">here</a>.</em></p>
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