Maryborough PRD Market Update 2nd Half of 2019

In Q3 2019, Maryborough recorded a median house price of $203,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -9.8%. At the same time total sales slowed, down by -36.1% (to 92 sales in Q3 2019). In comparison, Fraser Coast Region Local Government Area (LGA) recorded a higher median house price of $318,000. The Maryborough property market provides more affordable options when compared to the LGA, and with less competition in the market presents itself as a ideal for first home buyers.

Average vendor discounts between Q3 2018 and Q3 2019 has remained wide for houses, at -7.7%. This indicates that market conditions in Maryborough have continued to favour buyers, where sellers are willing to negotiate below their initial listing price and buyers can enjoy a discount.

Over the past 12 months, house rental yields in the Maryborough region increased strongly to reach 5.6% in June 2019. This suggests the house rental market is in a healthy position, as does the increased demand for rental properties in the Maryborough region across the same time period (up by 12.9% in the 12 months to Q3 2019).

3 bedroom houses have provided investors with +5.5% rental growth annually, achieving a median rent of $290 per week.

Maryborough recorded a vacancy rate of 1.2% in June 2019, which represents a declining trend over the past 12 months and sits below Fraser Coast LGA (2.3%) and Brisbane Metro (2.5%). There is a healthier rental demand in Maryborough.