Situated in Queensland's 4730 postcode, Longreach is a well-established residential suburb. As a regional suburb, the suburb is serviced by 4 schools and benefits from solid transport and amenity access.
Longreach has a population of approximately 3,124, a median age of 38, a median weekly household income of $1,812. The suburb has a balanced mix of owner-occupiers (53%) and renters, indicating healthy demand across both segments. Across the broader LGA, 22.8% of residents hold a university qualification.
Key employment industries in the broader local government area include Agriculture, Forestry and Fishing (15.6%), Health Care and Social Assistance (14.7%), Public Administration and Safety (10.9%).
The current median house price in Longreach is $295,000. Average annual growth sits at 6.5% over five years, reflecting steady capital appreciation. In the past 12 months, prices have increased 18%.
Properties in Longreach spend an average of 34 days on market. Online buyer demand is currently rated as average online demand. Stock on market sits at 0.23%. With inventory levels at just 0.71 months, supply is tight relative to demand. The average vendor discount is -6.5%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Longreach is $370. Gross rental yield sits at 6.52%, which is above average and attractive for cashflow-oriented investors. Vacancy rate is 1.86%, reflecting healthy rental demand. Rents have grown 8.82% over the past 12 months.
The broader local government area is forecast to grow from 3,373 to 3,341 residents by 2031 (-0.9% growth).
Explore other suburb profiles in the area: Sarina, QLD, Clermont, QLD, Emerald, QLD, Andergrove, QLD, Beaconsfield, QLD.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Longreach or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.