Pioneer Bay

Pioneer Bay is a small suburb with a population of 365 people. The residents mainly consist of professionals, technicians and trades workers, and community and personal service workers. The suburb has a mix of age groups with a notable number of residents aged between 45 to 64 years. The median household income is $961 per week, and the median mortgage repayment is $1170 per month. Around 15 residents work from home. Pioneer Bay exhibits a high market absorption rate, indicating a strong demand for housing. The suburb offers a rental yield of 5.2% with a low vacancy rate. Investors may find opportunities in renovating properties due to the high sale price IQR ratio. Homebuyers looking for affordable housing options may consider Pioneer Bay given its median house price. The suburb also has shown steady population growth over the years, which could further drive the property market. Pioneer Bay is a suburb with a diverse mix of residents and a strong demand for housing. Property investors may benefit from the high rental yield and market absorption rate, while homebuyers could find affordable housing options. With a focus on renovating properties, there is potential for capital growth in the long term, supported by the steady population growth in the area. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022