Millionaires flocking to Fraser Coast
MORE millionaires are buying up Fraser Coast property than ever before.
The trend has property experts positive, not only about the local market but the boost to the region's economy.
JTH Property's Jarmo Havela, who has been operating as a real estate agent on the Fraser Coast for 16 years, was behind the recent sale of a $950,000 Urangan Esplanade home.
The sale to new owners Rob and Melissa Tralau topped the region's market last week, beating the next highest property price by just over $250,000.
"What I have seen over the past three years is an influx of more affluent buyers with the means to purchase properties in the higher end of our market," Mr Havela said.
"That does mean they are bringing their spending habits into Hervey Bay including the hospitality and retail sectors."
Mr and Mrs Tralau, who own Migaloo's Cafe in Urangan, have been in the area for 12 years and now live just a short walk from their business.
The couple said they fell in love with the house immediately, which had the room for their seven children and 12 grandchildren.
"It ticked every box," Mr Tralau said.
"We were attracted to this area not only for work but the council, especially in Urangan, have done a tremendous amount of good work... they have really upgraded Urangan generally and it's really moving forward which gives you confidence.
"In the cafe we have had lots of people inquire about relocating from the Sunshine Coast, Gold Coast and even Brisbane.
"I would absolutely recommend this to my friends. I used to work at the Sydney Opera House and that is the only other place I've worked which has better views and outlook than what we have here."
It's not just the house sales which have been affected by this change in the market, Mr Havela said.
Appraisals by a rental agency for a basic four-bed, two-bath and two-car house in Eli Waters came back at $450 per week which previously had been in the $370-$390 range.
"The consistent tight vacancy rate looks like it has driven the market up with rentals," he said.
"Ten years ago we wouldn't have seen homes reaching the kind of prices they are and it is because there is a demographic here for them now.
"One thing I've noticed as an agent is the amount of people who have been coming through these homes who can clearly afford them. A lot of our residents don't realise how many affluent people we have had moving to town.
"What we are seeing now is a change with so many people with the means to afford the higher end of the market coming to town.
"For (the Tralaus' home) we had a big interest from New Zealand, Melbourne, Sydney, some Sunshine Coast and scatterings in the last month Tasmania and Canberra, and these people are looking to move here."