16/15-17 Garrick Street, Port Douglas QLD 4877
16/15-17 Garrick Street, Port Douglas QLD 4877
2-bed/2-bath edge over 1-bed stock | Beach Terraces resort-style living | Holiday-let demand strong | $450,000 Nov 2023 sale | Pool and beach proximity
This apartment holds a clear competitive edge within the Beach Terraces complex, where the majority of stock is 1-bedroom holiday units. The 2-bedroom, 2-bathroom layout with secure parking appeals directly to owner-occupiers seeking a permanent beachside base, as well as investors targeting higher-yield short-stay accommodation. Its position on Garrick Street places it within easy walking distance of Four Mile Beach and the village centre, a combination that underpins consistent demand from lifestyle buyers and holiday renters alike. The complex’s lagoon-style pool, spa, and sundeck add genuine resort appeal, making this unit a stronger proposition than the smaller units that dominate the immediate market.
Value may be shaped by the unit’s floor level and aspect, as ground-floor apartments with pool views tend to command different interest than upper-level options with partial sea outlooks. The 2023 sale at $450,000 suggests a baseline, but the fully furnished presentation typical of this complex could support stronger rental returns, which in turn influences buyer willingness to pay. The holiday-driven nature of the precinct means turnover and short-stay activity may affect privacy and consistency of rental income, though this also signals robust demand. Buyers should weigh the unit’s exact internal condition and balcony exposure when forming a price view, as these factors carry weight in this competitive strip.
Detailed Independent Property Report prepared by PropCred Analyst team for 16/15-17 Garrick Street, Port Douglas QLD 4877
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Port Douglas (4877) is a premium coastal market where houses are outperforming units. Demand is led by local buyers, semi-retirees, families, and business owners housing staff; buyers prefer private blocks, pets, and no body corporate. Median house price is $1.2m, with annual growth of 20.3–33.1%, listings down up to 30% year-on-year and sales volume around 50. Units remain subdued, at a $390k median with annual falls of 2.5–4.2%; gross yields are 4.7% for houses versus 7.6% for units. Tourism recovery and limited long-term rental supply are lifting buyer activity. Principal risks are rate rises reaching Far North Queensland after about a year, and affordability constraints, as incomes sit below the regional average.
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PropCred Estimated Value
Comparable Sales: 4/15 Garrick Street sold at $395,000; 5/15-17 Garrick Street sold at $395,000 | Property Price Band: $400,000–$500,000 | Value Drivers: floor level, aspect, condition, holiday-let potential
Bedrooms
2
Bathroom
2
Parking
1
Land
2030m²
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