Booming property prices in Queensland coastal towns,
Queensland’s coastal underdogs are emerging as surprising property market winners. Some towns have seen home prices surge nearly 40 percent recently.
These areas feature unspoiled beaches without stingers and chic cafes that are free from crowds. Moreover, homes by the beach are affordable compared to multimillion-dollar properties.
Many are comparing these coastal towns to Byron Bay from a decade ago. For instance, in Bargara, unit prices skyrocketed 38.1 percent to a median of $670,000 by June.
Additionally, the median house price in Bargara climbed 19.4 percent, reaching $770,000 during the same period. Meanwhile, in Yeppoon, unit medians increased by 27.5 percent to $475,000.
In Yeppoon, the median house price experienced a more modest rise of 6.8 percent, reaching $630,000. Similarly, Agnes Water recorded an 8.7 percent increase in median house prices, now at $815,000.
Jason and Rachel Barrett relocated from the Gold Coast to Bargara a couple of years ago. They wanted a better quality of life without exorbitant property prices.
The couple purchased a four-bedroom house with a pool for just over $1 million. They noted that this property would have cost nearly $1.5 million on the Gold Coast.
Jason works in civil construction and described their life on the Gold Coast as the epitome of the rat race. He would leave for work in the dark at 5 a.m. and return home around 5 p.m.
“I was spending at least three hours commuting each day,” Jason explained, “and that’s without considering any crashes on the highway.”
He started to tally the hours and realized he was wasting 24 hours each week sitting in traffic. “That’s not living,” he concluded, expressing his desire for a more fulfilling lifestyle.
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“Moving to Bargara was about slowing down and reconnecting with a community environment,” Jason said. They wanted a place where their kids could ride their bikes freely.
“The day we moved in, a neighbor from across the street came over,” he recalled. “She brought us a bottle of wine and a box of chocolates.”
Mark Gelsomino from McGrath Wide Bay noted that Bargara has experienced significant growth since COVID began. “That’s when we were truly discovered by buyers seeking that lifestyle,” he explained.
He added that the climate also attracts newcomers. “You can swim here all year round, and there’s a lovely village atmosphere,” Gelsomino concluded.
He noted that stock levels remain tight, and quality homes by the beach are often sold within a couple of weeks.
“Our top buyers are primarily from the Sunshine Coast, while those from the Gold Coast come in second,” he stated.
“We’re seeing couples with children under 10 who can work from home, along with tradies aged 30 to 40,” he added.
Gelsomino emphasized that buyers can still find good homes near the beach for under $1 million. This option is now increasingly rare in Brisbane.
Debbie Lodwick from Ray White Yeppoon reported a similar trend further north in Yeppoon. “Prices here have escalated significantly,” she said, noting that the median price in most areas is now about $650,000.
Just a few years ago, that median was only $430,000. She explained that families relocating from the south are driving this demand.
They are attracted by the promise of a better lifestyle, lower crime rates, and more affordable prices.
“We offer that country atmosphere by the beach that Byron Bay used to have around 10 to 15 years ago,” she remarked.
Importantly, there’s still a major regional city nearby, which is Rockhampton. Rory Wex from RMW Yeppoon added that most of his buyers come from the Gold Coast.
This southern cohort views Yeppoon as the ideal halfway point for their needs and lifestyle.
“Beyond here, you encounter stingers, but being right on the Tropic of Capricorn makes us perfectly positioned,” Wex stated.
He added, “You can swim year-round here, which is a significant advantage for residents.”
“It’s also not as regional as it once was,” he noted. “Rockhampton is nearby, serving as a major hub with daily flights to Brisbane.”
Wex mentioned that other attractions include the overall lower cost of living. Additionally, there are good private schools that are more affordable.
Moreover, there is very little to no paid parking, which adds to the appeal.
Damien Gomersall from Ray White Agnes Water reported that prices have doubled over the past four years.
“We’re the last surf beach in the area,” he said, emphasizing its uniqueness. “Two-thirds of our buyers come from the Sunshine Coast.”
These buyers are frustrated with the high prices there and seek the lifestyle they once enjoyed.
“Agnes Water has the same vibe that Noosa had 30 years ago,” Gomersall observed.
He explained that families are leading the charge in this migration, attracting a mix of remote workers, mine workers, and business owners.
