Why you should consider investing in Maryborough.
There are many hidden gems in Maryborough for property investors, although the suburb is largely known as the gateway to Fraser Island’s natural wonders.
This month, Smart Property Investments released its highly coveted FAST 50 ranking for 2024, which includes the Queensland suburb, which is located about three hours north of Brisbane.
Using open-source data and insights from a 14-strong investment expert panel, the report and ranking provide an insight into the 50 Australian suburbs that have the best prospects for the future.
Maryborough offers home buyers and investors an affordable entry point into or expansion into the market with a median price of $340,000.
However, the suburb is not just known for its low house prices. Property Investing Matters host and creator Margaret Lomas says Maryborough’s untapped potential is significant.
“It is placed to enjoy runoff demand from nearby Hervey Bay – long-term opportunity for growth over time, suitable for those wanting low buy-in prices and higher yields.”
The recent growth data shows Maryborough presents a compelling investment opportunity backed by solid market performance.
With a median quarterly growth of 1.50 per cent, and an impressive 12-month growth of 17.20 per cent in prices, the suburb is steadily gaining attention from astute investors. Additionally, properties in Maryborough have also recorded an attractive average annual growth rate of 5.60 per cent.
This consistent growth highlights the suburb’s potential for long-term capital appreciation, making it an enticing prospect for investors seeking solid returns over time.
In addition to capital growth, Maryborough boasts a strong rental market. The gross rental yield of 6.30 per cent indicates the potential for attractive rental income compared to the property’s median price.
And with a median rent of $410, investors can expect a steady cash flow and healthy returns on their investment properties.
Maryborough’s lower entry costs, combined with the potential for capital growth and solid rental yields, make the suburb an appealing option for those seeking a balanced investment approach.
From an investment perspective, Maryborough offers diverse options to suit various investment strategies. The suburb features a range of property types, from spacious family homes to quaint cottages and modern apartments.
Notably, new research from a subsidiary of the PropTech Group, Real Estate Investar, has also identified Maryborough as one of the Australian suburbs with the most opportunities to subdivide.
Joe Hanna, managing director and chief executive officer at PropTech Group, believes “the fact that properties with high subdivision opportunities are not more expensive shows us that there are still many opportunities for investors.”
“The purchase price isn’t higher and doesn’t reflect the value you can unlock by subdividing. That’s probably because of the work and uncertainty involved in the process,” he said.
“There is plenty of opportunities for investors willing to go this route.”
For home buyers who want to immerse themselves in history and experience the charm of a bygone era, Maryborough’s well-preserved streetscape, complete with grand colonial buildings and heritage-listed structures, provides a window into the past.
Maryborough’s proximity to essential amenities also enhances its investment appeal. The suburb offers convenient access to schools, shopping centers, medical facilities, and recreational areas.
Markedly, its location within a short distance from major employment hubs ensures a steady demand for rental properties, making it an attractive prospect for investors seeking reliable rental yields.