Mission Beach Real Estate, 5 Key trends for 2021
February 22, 2021
MISSION BEACH PROPERTY MARKET UPDATE
For Mission Beach Real Estate, 2020 defied almost everyone’s expectations, delivering strong gains in the face of this worldwide pandemic.
1. Mission Beach Properties in Short Supply
Whether you are looking to rent or buy, the reality is that homes for sale in Mission Beach are becoming much shorter in supply right now. We cannot remember a time when there was such demand for rental properties, with rental rates increasing, providing the investor with a much higher yield and an opportunity to get into the real estate market while such low interest rates are on offer.
2. The Mission Beach area is set to become even more popular
With Covid-19 encouraging more people to work from home, we have seen ‘sea changers’ whose jobs were based in the southern states, moving to Mission Beach and working remotely from their new home. Retirees and investors are also jumping onboard with Mission Beach property values set to increase. And what better place to live, we believe.
This is creating more competition in the market, with not just house sales in our beachside villages but also our acreage lifestyle properties as people look for a change of pace and the chance to retire or move their family into a more rural countryside.
We expect the demand for these lifestyle properties in the Mission Beach area to increase over 2021 as more people call our beautiful area home.
3. Media created interest
Late in 2019, Mayfair 101 purchased in the vicinity of 250 homes in the beach area, since Covid19 hit, close to 105 of those properties have now fallen into the hands of the Receivers and Managers to be on sold. Property investors have come from all over Australia with the aim to scoop up beachfront property in Mission Beach, as well as land and residential homes at a bargain price. Our area has constantly been in the news and this is stimulating enquiries from people who may never have considered buying a home in Mission Beach.
4. First home buyers to remain in force
To encourage people into the housing market the QLD and Commonwealth Governments offered generous Subsidies, Grants to not just first home buyers. Such as:
- The QLD First Homeowners Grant – If eligible, $15,000 towards buying or building a brand-new home or unit.
- The Regional Home Building Boost Grant – If eligible, will give you $5,000 after the purchase or construction of a brand-new house or unit valued at less than $750,000.
- The Home Builder Grant – if eligible, $15,000 if you are building a new home or carrying out extensive renovations, is extended to 31st March 2021 so time is running out, you must apply online by 14th April 2021
- The First Home Loan Deposit Scheme – Usually first home buyers with less than a 20 per cent deposit need to pay lenders mortgage insurance. Under the Scheme, eligible first home buyers can purchase or build a new home with a deposit of as little as 5 per cent (lenders criteria apply). This is because NHFIC guarantees to a participating lender up to 15 percent of the value of the property purchased that is financed by an eligible first home buyer’s home loan.
5. Low Interest Rates
As a result of the Governments economic stimulus, the Australian economy seems to be in better shape than we imagined moving into 2021. Added to this the RBA slashed the official cash rate to just 0.1% late in 2020 meaning borrowing for a Mission Beach properties is cheaper than ever.
Want to know more about the local Mission Beach Real Estate market?
- 74 Homes sales in 2018, then 2019 saw Mission Beach property house and land sales rise dramatically to 140 thanks mainly to Mayfair 101 coming into Mission Beach.
- In 2020, 98 homes within our postcode of 4852 were purchased and settled with an average sale price of $416,361 according to pricefinder.com.au
For help to find homes for sale in Mission Beach or your dream investment property talk to Andersons Real Estate today.
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