Yeppoon's rental market sees drastic changes
NUMBERS have doubled for the Yeppoon housing market as out of town investors flock to the coast to secure their share in paradise.
Confidence in the Capricorn Coast has propelled since the Adani FIFO base announcement in Rockhampton with Yeppoon Real Estate Principal Esme Coren saying the region has been put on the map.
In the last month, Esme said the amount of out of town investor sales had doubled with their vision of buying in paradise now and retiring later.
"The FIFO announcement and all the other media announcements, especially in print media, has brought a lot of interest and workers to our area over the past month," she said.
"This is great for real estate but also for every business on the coast as more customers are enjoying our lifestyle."
Although Yeppoon residents are not eligible for the FIFO advantages out of Rockhampton, future workers could still apply to work at the Charmicael Mine and drive there from surrounding areas.
Principal at Ray White Yeppoon, Debbie Lodwick, says in her 30 years in the mix of the Yeppoon housing market, the direct ripples of the announcement were still obvious.
"We have been very busy at our open homes and fielding offers form new buyers to the market and I feel the trend will continue this month," she said.
"We did put nine properties under contract in the last week."
Debbie said the rental market mirrored the same interest with Ray White Yeppoon's rental vacancy rate currently sitting at 2.8 per cent.
Earlier this year, Yeppoon Real Estate's rental vacancy rate sat at 9 percent compared to 2.33 per cent this month which Esme says is a relief for landlords after years of decline.
"For landlords it means that rents are starting to increase," she said.
"It also means that the owners can feel more confident that if their tenants do vacate, that due to supply and demand the time the property will be vacant will be shorter."
Hopeful tenants would now have a smaller pool of ideal homes to choose from with Esme saying renters should be vigilant when applying for their perfect pad.
"For tenants it means that there will be fewer properties to choose from an d there could be multiple applications on each property," she said.
"They need to make sure they attend the viewing times scheduled, complete their applications in advance and make sure they are completed in full with all details required and ID supplied or they may miss out on the property of their choice."
Modern homes with pools and sheds are currently on trend for Yeppoon renters with Esme saying they were constantly working hard to obtain the perfect properties within a five minute drive to the centre of town.
"Leading into Christmas and the New Year period, we are busily trying to obtain more rental homes especially with extra facilities like pools or sheds to satisfy the demand in all price ranges," she said.
With a region rich in resources and lifestyle, Debbie also said the appeal of the Capricorn Coast was too good to miss.
"Our region is not only rich in resources but it's also a fantastic place to call home and raise a family," she said.
"I also feel that many people are opting to move from major cities to enjoy this idyllic way of life."