At the centre of the local housing crisis there is a lack of affordable homes available for medium to low-income earners to purchase and rent.
The population of the Greater Airlie Beach Area has increased dramatically over the past few years, but the construction of new homes has not kept pace with this population growth.
As a result, there is huge, untapped demand for affordable homes in the region.
Local Cannonvale development, The Grove, has started to meet this demand with eight new townhouses expected to settle in the next four weeks.
The continuation of stage four of the development has already commenced with a further 16 houses underway and 103 additional townhouses already been approved for the site.
"The rental crisis is an issue that plagues our region daily, and we firmly believe that the solution lies in creating more rental properties," stated Steve Marks, Principal, Explore Property Whitsundays.
"With the capacity to introduce over 100 brand new, affordable townhouses to the market, we aim to tackle this problem head-on. However, to achieve this, we need to shift our focus to local investment, reducing reliance on southern investors."
Mr Marks says he is offering a savvy and safe investment opportunity for homeowners in the area to use the equity in their property to purchase a townhouse at The Grove.
Not only will this return a good rental yield and virtually no outlay, but it will also provide an affordable rental for someone in need in the community.
“Property owners in the Whitsundays have experienced remarkable price growth in recent years, with Cannonvale alone witnessing a median sale price increase of 30% since 2021 representing an average rise of over $100,000 in property value,” he said.
“This untapped equity presents a valuable opportunity to invest in the local region, providing homes for fellow locals and serving as an excellent investment opportunity.
“We are encouraging local property owners to seize this unique opportunity to contribute to the region's growth and address the pressing need for affordable housing.
“By harnessing local investment, the development aims to create a sustainable solution that benefits the entire community.”
Steve Marks, Principal, Explore Property Whitsundays, standing outside The Grove where townhouses to meet the affordable housing shortage are being built. Photo credit: Rachael Smith
