PRD Nationwide research has revealed a hot property season ahead for the Whitsunday region.
Data shows that sales activity across the Whitsunday property market has performed extremely well in the six months to April 2012, indicating a possible upturn in the market that would signal a boost for the region.
Figures show sales of Airlie Beach units have increased by a staggering 68.4 per cent, while the median price has fallen to a nine year low of $245,000.
In Jubilee Pocket, house sales volumes have gone up by 33.3 per cent – with the 24 sales registered in the April 2012 half-year period, above the five year average of 20 sales.
Further west in Cannonvale, the house market has proven very resilient.
A total of 38 transactions were registered for the six months to April 2012, representing an increase of 35.7 per cent from the corresponding period in 2011. The median price continues to trend downward, recording a softening of 5.8 per cent over the year to record a median price of $435,500.
According to the report, the increase in activity has been fuelled by continued vendor discounting which has seen property values soften.
The report says that “it is becoming increasingly evident that many investors are beginning to appreciate the unprecedented level of value on offer in the current market, which has been the catalyst for this recent spate of buyer enquiry and subsequent sales activity.”
PRDnationwide Whitsunday chief executive Rob Taylor said: “This showed that buyers currently see value in the Whitsundays property market – more importantly it shows confidence to invest in the region.”
“Mining families are looking for quality lifestyle destinations to bring up their families – the Whitsundays offer that,” he said.
“We don’t expect to see demand slowing in the short term. Residential sales actually increase in the lead up to the Christmas period and we are already seeing this with strong sales activity at present.”