The Whitsunday property market is shaping up as the one to watch this year as southern buyers continue to flock to the Whitsundays, cementing its position as one of Australia’s key lifestyle markets.
Recent market activity suggests that the Whitsundays on the Great Barrier Reef is going head-to-head with the Gold Coast, Byron Bay, and Sunshine Coast, proving to be a favourable lifestyle destination as southern buyers continue to snap up luxury properties.
Findings presented this week at an exclusive Shute Harbour Marina forum hosted by Rob Taylor from Taylors Property Specialists, reveal that the Christmas and New Year period has shown a continued strong demand from southern states for properties in the Whitsunday region.
“January 2023 has started in a positive manner with continued interest from southern buyers,” said Taylor.
Southern buyers get wind of luxury bargains
He said “We’ve seen steady demand for property from southern buyers who have identified the Whitsundays as a key lifestyle market, especially blue chip locations such as Hamilton Island and Airlie Beach.
“With the growth in the state’s south-east coupled with limited stock due to rising construction costs, demand is outstripping supply and attention has turned to markets further north, especially among lifestyle buyers.”
Among the major projects currently marketed by Taylors is the $350 million Shute Harbour Marina Resort which has drawn extensive inquiry from buyers drawn by the lifestyle and value offered by the Whitsundays.
“Already in the first few weeks of the new year buyers have secured numerous $1 million-plus lifestyle homes,” said Taylor.
“The enquiry rate hasn’t shown any real signs of slowing down from southern interest. While we don’t expect to see the hectic market activity of early 2022, we can expect a far more realistic, solid market that is best for the long term.
“Buyers are more willing than ever to head to the regions for a lifestyle and property that meets their needs, it’s a value proposition that is likely to see the property market in the Whitsundays hold its own for some time to come”
Mr Taylor believes that the lifestyle markets such as the Whitsundays will continue to perform really strong despite headwinds from inflation and interest rates.
“Talk of interest rates potentially stabilising in the coming months will add to this. However, what we are finding is these southern lifestyle buyers don’t seem to be as greatly impacted by these rate increases” he said.
A new marina in development
The Shute Harbour Marina Resort master plan will feature 58 luxury waterfront residences, each with their own private marina berth of between 25 and 35 metres.
When completed, the marina village will comprise mixed retail and commercial Pier 61, restaurants, cafes, and swimming pool, as well as managed apartments with resort club facilities for berth owners.
As one of the biggest residential-resort projects in North Queensland in more than a decade, the transformational development is also destined to become the region’s premier lifestyle and leisure precinct – the perfect place to live, work and play.
Development of the first stage of Shute Harbour Marina Resort, which will include the marina and the stage-one release of land and marina berths, is expected to take two years to complete.
Article source: thepropertytribune.com.au