Hervey Bay Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q1 2025, Hervey Bay* recorded a median house price of $722,500 and a median unit price of $520,000. This is an annual (Q1 2024 – Q1 2025) price growth of 11.3% for houses and 16.4% for units. Comparing Q1 2024 and Q1 2025, sales dropped by -23.4% for houses (to 295 sales in Q1 2025) and -36.6% for units (to 71 sales in Q1 2025). There is a clear undersupply in the market for both property types, creating a buffer against higher interest rates; thus, price growth. Q1 2025 saw a high level of interest from buyers and an undersupply of homes for sale in the market. Combined with no ready-to-sell homes planned in 2025, now is an ideal time to sell.
CHANGE FROM LAST
YEAR
Hervey Bay£ is to see approximately $361.4M of new projects commencing construction in 2025.
Residential $75.2M
HALF YEAR
HOUSE SALE S
Commercial $113.0M
Mixed-Use $89.5M
HOUSE ME DIAN PRICE
Infrastructure $47.5M
HOUSE RE NTAL PRICE
Industrial $36.3M
A main mixed-use project scheduled in 2025 is Marina Square Hotel & Units Stages 1 -3 ($80.0M), which will consist of a 17-storey Riviera hotel & 2 residential towers. This will create local jobs in the area.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
Key residential projects include:
$ MARKET CONDITIONS MEDIAN PRICE Q1 2025
$722K
$520K
MEDIAN PRICE Q1 2025
$620
SALES
AVERAGE DAYS ON MARKET Q1 2025
58
79
HOUSE
U N I T
RENTALS
$505
•
Opal Shelly Beach Hervey Bay Apartments (47 Apartments)
•
Baylinks Estate Pialba Subdivison Stages 5-9 & 11-17 (204 Lots)
•
Seashore Townhouses Hervey Bay (8 Townhouses + 8 Units)
Most of the projects in 2025 plan to deliver ready-to-sell units, with very few townhouses. Although there are land lots, that will take time to build. The lack of new stand-alone houses will worsen the current undersupply of houses and push prices up higher.
AVERAGE DAYS ON MARKET Q1 2025
18
22
HOUSE
U N I T
216 Units/ Apartments
28 Townhouses
706 Lots