Hervey Bay Property Market
As of July 2025, Hervey Bay's property market continues to demonstrate strong growth, characterised by rising prices, robust rental demand, and limited housing supply.
Property Median Prices
· Homes: around $723,000 in the first quarter of 2025, reflecting round an 11% annual increase.
· Units: around $525,000, up to around 16% year-on-year.
House sales have decreased by around 23%, and unit sales by around 36% compared to the corresponding quarter last year, indicating less availability of homes for buyers.
Rental Median
· Weekly Rent: Houses at around $620, 5% increase over a year.
· Yield: Houses yielding around 4.0%
· Vacancy: around 1.2% as of May 2025, keeping the rental market tight.
Regional update
· New Projects: Approximately $362 million in new developments commenced in 2025, includes units and land lots, with some home sites.
· New Over-50s Communities: A growing area in our region with several new developments planned. A new $100 million development in Urraween recently underway, the first stage selling quickly.
🔍General Market Consideratons
· Population: Hervey Bay's population is projected to surpass 60,000 by 2025, driven by its coastal lifestyle appeal.
· Interest Rates: The cash rate peaked at 4.35%, and we expect some cuts later in the year which should increase buyer activity.
· Government Incentives: On May 1, 2025, the Queensland Government decided to waive stamp duty for first-home buyers on new home builds to encouraging more into the market.
Overall, Hervey Bay's property market remains robust, with strong price growth, high rental demand, and ongoing development projects contributing to its appeal for both investors and homebuyers.