Lifestyle is drawcard for buyers around Livingstone
GOOD views, a great lifestyle and low-maintenance living.
These are just some of the reasons Claudia Coren believes apartment living is so popular on the Capricorn Coast.
New figures from CoreLogic RP Data have revealed the Livingstone area has one of the shortest average hold periods for units, at 6.6 years.
But Claudia, general manager of Yeppoon Real Estate, said these figures weren't bad for the region.
Claudia said people were buying apartments for the lifestyle or as investments.
She said some buyers were looking to move close to cafes and restaurants, while others wanted beach getaways.
"Unit buyers are definitely lifestyle buyers," Claudia said.
Far from people moving away from the region after six or seven years, Claudia said the short hold periods were thanks to the Coast's constantly expanding property market.
"We find that 93% of buyers do come from Yeppoon area," she said.
Claudia said new land releases, including The Pines, and apartment developments like Salt gave people more and more opportunity on the property ladder.
She said this was the difference between Livingstone and southern areas with longer average hold periods like Cottesloe in Western Australia or Wagga Wagga in New South Wales.
"(Property prices) are much more diverse (in Livingstone) than southern places because we do have a lot more land being released," she said.
Shortest average hold periods for units:
- Gympie, Queensland: 5.6 years
- Brighton, Tasmania: 5.8 years
- Livingstone, Queensland: 6.6 years
- Longest average hold periods for units:
- Warrnambool, Victoria: 12.5 years
- Wagga Wagga, New South Wales: 11.2 years
- Cottesloe, Western Australia: 11 years
- Latrobe, Victoria: 10.5 years