Tannum Sands Property Report 2nd Half of 2019
In the 2nd Half 2019, Tannum Sands recorded a median house price of $365,000, and a median unit price of $171,000. This represents annual (2nd Half 2018 - 2nd Half 2019) growth of 19.3% for houses and softening of -32.7% for units. At the same time total sales slowed for 2nd Half 2019, to 20 sales for houses and 9 sales for units. A small market can create fluctuations in trend, but the house market has seen confidence return in the past 12 and 6 months.
In the 2nd Half 2019, Tannum Sands recorded a median house price of $365,000, and a median unit price of $171,000. This represents annual (2nd Half 2018 - 2nd Half 2019) growth of 19.3% for houses and softening of -32.7% for units. At the same time total sales slowed for 2nd Half 2019, to 20 sales for houses and 9 sales for units. A small market can create fluctuations in trend, but the house market has seen confidence return in the past 12 and 6 months.
Average vendor discount between 2nd Half 2018 and 2nd Half 2019 has widened for houses, to -7.2%. This suggests that market conditions in Tannum Sands continue to favour buyers, where sellers are willing to negotiate below their initial listing price. Now is the time to enter the market.
Over the past 12 months house rental yields in Tannum Sands held steady, at 3.7% in June 2019. This is above that of Gladstone LGA (3.3%) and largely on par with Brisbane Metro (3.8%). The Tannum Sands house rental market is in a healthy position, as the house rental median price increased by 30.6% to $320 per week.
3 bedroom houses have provided investors with +12.0% rental growth annually, achieving a median rent of $280 per week.
Tannum Sands recorded a vacancy rate of 2.2% in June 2019, indicative of a declining trend over the past 3 years and sitting below Gladstone LGA (3.5%) and Brisbane Metro (2.5%). There is a healthier rental demand in Tannum Sands.
