- Property prices in the Whitsundays have risen by 25% in the past 12 months
- Region has already recorded 53 property sales in excess of $1 million since beginning of 2022
- Newly launched Shute Harbour Marina Resort named a key driver in growth, with over $20 million in sales recorded during stage one
One of Queensland’s most popular holiday destinations, the Whitsunday Islands, is set to see property prices soar to record heights.
The Whitsundays is in the midst of a post-Covid boom with data reflecting a 25% rise in prices within the past 12 months.
The area, comprising 74 islands off Queensland’s northeast coast, broke records in 2021 with the sale of 75 properties for prices in excess of $1 million.
This figure more than tripled that of 2020, in which only 22 properties sold for more than $1 million.
Property prices in the Whitsundays are currently at their highest in 15 years with expectations that records will be broken yet again this year.
Since the beginning of 2022, 53 properties in the Whitsundays have already sold for more than $1 million.
Rob Taylor of Taylor’s Property Group said he has seen a surge in demand for lifestyle properties in the region firsthand.
“The push from buyers in southern capitals into regional markets during the pandemic has significantly increased the exposure of the area with many looking for a lifestyle change.”
Rob Taylor, Taylor’s Property Group
“This trend is continuing with regional Queensland experiencing record migration from the southern states.”
Marina and resort project to drive sales growth
According to Mr Taylor, projects such as the recently launched $350 Shute Harbour Marina Resort will continue to drive growth in the region.
The luxurious development generated more than $21.5 million in sales contracts during stage one of the project’s launch.
Shute Harbour Marina Resort is responsible for a large portion of the Whitsundays’ high-value sales, with the most significant being the sale of a $2.55 million land and 35m berth package.
Sam Wade, Managing Director of the consortium behind the project, said the Shute Habour Marina Resort meets a critical shortfall of waterfront land for lifestyle homebuyers looking in the Whitsundays region.
“Waterfront land in the Whitsundays is in very limited supply with little or no other residential development outside the Shute Harbour Marina Resort.
“Our data shows there are only 28 vacant residential waterfront lots currently available in the area and half of these are not located within or close to a marina development,” said Mr Wade.
The first stage of the development offers free-hold residential sites designated for two and three-storey residences, while further stages will include marina loft apartments and plaza terrace homes.
Construction on the marina and stage one releases is set to begin next year and will take two years to complete.
