Property market in Agnes Water shows signs of life
A SURGE in developer activity is set to spur growth in Agnes Water, according to the latest Property Watch report from PRDnationwide.
Figures from the report have shown that in recent years the Agnes Water area has been oversupplied with stock and has attracted limited buyer interest.
But PRDnationwide says with the largest volume of house and land packages, townhouses and subdivisions to be released onto the property market, there has been an increase in developer and consumer confidence.
There is evidence to suggest the market is being boosted by a mix of retirees, lifestyle sea-changers and buyers from south-east Queensland.
After being heavily reliant on the fortunes of the resources industry in Gladstone, the new breed of buyers reportedly looking to enter the market has given Agnes Water some diversification.
PRDnationwide research analyst Angus McLean said buyers were looking for affordable properties in the mid to lower price points.
"We've witnessed a rise of 8% in total sales for properties in the $300,000 to $349,999 range, with 21% of transactions falling within that price bracket," Mr McLean said.
"The number of total sales for the six months to July 2013 is down slightly, but with some exciting new developments on the way we are anticipating a reinvigorated housing market in 2014 and beyond."
PRDnationwide Agnes Water principal James White agreed the future looked bright for Agnes Water.
"Things are starting to ramp up again - there is a definite change in the air," Mr White said.
"Work has commenced on three residential estates - Seaspray, Shores by 1770 and Point View - all of which feature allotment with panoramic ocean and hinterland outlooks.
"Enquiry levels had been down in the lead up to the federal election, but it has certainly picked up as the town welcomes an influx of tourists to the area for the summer months."