Maryborough Market Update 2 nd H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q3 2024, Maryborough* (which in this report includes Maryborough, Tinana, Granville, Maryborough West, Oakhurst); recorded a median house price of $452,500. This represents annual (Q3 2023 – Q3 2024) growth of 13.8%, and a quarterly (Q4 2023 – Q1 2024) median house price growth of 9.0%, highlighting an ideal opportunity for owners to capitalize on their investments. House sales decreased annually and quarterly, with Q3 2024 recording the lowest number (98 sales). There is an undersupply of houses, which has created a buffer against higher interest rates. With limited new residential projects planned for the next two years, prospective buyers need to act fast.
CHANGE FROM LAST
YEAR
Maryborough will see approximately $9.8B of new projects commencing in 2024 - 2025. Residential
$5.0M
Commercial
$2.3M Industrial
Mixed-Use
HALF YEAR
$5.3M
$240.0M
HOUSE SALE S
HOUSE MEDIAN PRICE
Infrastructure
$9.5B
HOUSE RE NTAL PRICE
$ MARKET CONDITIONS MEDIAN PRICE Q3 2024
$452K
SALES
AVERAGE DAYS ON MARKET Q3 2024
$285K
MEDIAN PRICE Q3 2024
43
27
HOUSE
U N I T
R E N T A L S O NAMVAE RR AK EGTE QD 3A Y2 S0 2 4
17
18
HOUSE
U N I T
$485
$320
Suburbs
2022
2023
2024#
2022-2024# % Growth
Granville
$350,000
$375,000
$395,000
12.9%
Maryborough
$345,000
$379,000
$452,500
31.2%
Maryborough West
$500,000
$417,500
$695,000
39.0%
Oakhurst
$650,000
$680,000
$727,500
11.9%
Tinana
$460,000
$570,000
$520,000
13.0%
The Torbanlea train project is approx. 22km from Maryborough and 32km from Hervey Bay (Pialba CBD). It is part of the $9.5 billion Queensland Train Manufacturing Program (QTMP). Maryborough is the closest major town, and this project will strengthen the local economy through more jobs and supply chain opportunities. A key mixed-use project is Prescare Health & Aged Care Hub ($200.0M), constructing an integrated aged care facility. This will create local jobs and attract a new demographic. Key residential projects include: •
326 Pallas Street (4 Units)
•
Diana & Edward Streets (10 Units)
Residential projects planned in the area will only add new units. Standalone houses and townhouses will remain undersupplied. Thus, property prices will most likely continue to increase in 2024 and 2025.
14 Units/ Apartments