Property report: what’s happening in Yeppoon?

Yeppoon was previously one of Queensland’s best-kept secrets, despite being a top destination for relaxed surroundings and a laid-back lifestyle. 

During the pandemic, as families and professionals looked to relocate to more cost-effective and less fast-paced locations, Yeppoon made it onto the radar for a lot of buyers. The result was a jump in prices and a flood of new residents.

Take a look at what has been happening in this part of Central Queensland: 

Yeppoon Property Prices

In pre-COVID times, it was easy to pick up a Yeppoon property for under $400,000. In 2023, house prices in the 4703 postcode have risen to an average of $590,000. 

Interestingly, while other regional areas are now settling as people consider moving back to the city, Yeppoon’s growth has been unstoppable, with prices rising 20 per cent year on year between April 2022 and May 2023. 

The area is even attracting its fair share of $1 million plus sales, and many homes in Yeppoon are selling for over list price because cash buyers are turning up with ready money. 

One of the factors that appeals to buyers who are looking for Yeppoon property is the variety; it’s possible to buy a stunning, move-in ready ‘forever home’ or find a fixer-upper with beautiful features that can be gradually updated over time. 

What Buyers Are Looking For

The Agency Central Queensland’s Yeppoon property expert Anna McPherson says, “Local facilities around here are ideal for anyone who wants to raise a family and is after more for their dollar. We are seeing so many people moving to the area, including semi-retired couples who are looking for units and appreciate apartment-style living. There are also investors who have realised there is good rental yield and plenty of demand from tenants.”

Anna and her colleagues have seen people coming to Yeppoon and its neighbouring suburbs from south Queensland as well as western areas of the state and interstate. “Larger home buyers love having a four bedroom, two bathroom home with parking for two cars and room on the property for a caravan or boat. Properties with block sizes of 700-800 square metres are highly sought after.”

Buyer’s agents have reported that there just isn’t enough stock to keep up with demand. Anna explains that she is seeing multiple offers on homes for sale and some people are even placing bids without seeing the home in person themselves. 

Time On Market

Anna admits that the market has become a little less competitive in 2023 than it was in 2020 and 2021. However, “When I started as a real estate agent in this area ten years ago, we would hold eight open homes without receiving an offer. Now, properties are turning over a lot more quickly.”

Anna supports home sellers by putting in time with them before a property hits the market. “I focus on the activity that goes on before a home goes on sale, then on what’s happening during those first two weeks. It’s all very well to sell a home within 24 hours but you need to ensure you are truly getting the best offer.”  

Sell Your Home In Yeppoon

For sellers, one of the benefits of listing a home in Yeppoon in 2023 is that there is less pressure to pay for building and pest inspections than in other states. 

However, Anna explains that presentation will make a difference to marketing and final results. “We can offer buyers virtual tours that help them make an offer without seeing a home in person. While it’s relatively easy to sell in Yeppoon and on the Capricorn Coast right now, if you really want to achieve top dollar you still need to focus on the wow factor to draw in as much interest as possible.”

Want to sell your home in Yeppoon or find out how much it is worth in the current market? Contact The Agency today.