Proud to be an REIQ accredited agency MARKET MONITOR YOUR STATE-WIDE PROPERTY RESEARCH GUIDE - SUBURB BY SUBURB www.reiq.com.au Issue 7 10% Deposit - it just makes sense Click here to discover how a Deposit Power Guarantee can secure a 10% deposit. JUNE QUARTER 2010 Queensland market back on track
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www.reiq.com.au
Proud to be an REIQ accredited agency
MARKETMONITOR
Y O U R S T A T E W I D E P R O P E R T Y R E S E A R C H G U I D E - S U B U R B B Y S U B U R B
www.reiq.com.au
Y O U R S T A T E - W I D E P R O P E R T Y R E S E A R C H G U I D E - S U B U R B B Y S U B U R B
www.reiq.com.auIssue 7
Proud to be an REIQ Individual Member
10% Deposit - it just makes senseClick here to discover how a Deposit Power Guarantee can secure a 10% deposit.
Queensland Market Monitor is published byThe Real Estate Institute of Queensland (REIQ).
ABN 49 009 661 287
Disclaimer: The information contained in this publication, while based on information believed reliable, is not guaranteed. Nor is any of it tendered by way of investment advice; instead, it is intended only to inform and illustrate. No reader should act on the basis of any matter contained in this publication without considering and if necessary taking appropriate professional advice with regards to their own particular circumstances. The publisher and editor give no representations and make no warranties, express or implied, with respect to the accuracy or completeness of any of the material (including statistics, advertisements and advertising features) contained in this publication. The publisher and editor expressly disclaim any and all liability to the reader, whether a purchaser of this publication or not, in respect of anything and the consequences of anything done or omitted to be done by any such person in reliance, whether whole or partial, upon the whole or any part of the contents of this publication. The publisher, editor or contributors will enter into no correspondence in relation to this publication. The mention of the company, organisation, person, investment strategy or technique does not imply endorsement by the publisher. The publisher has not vetted advertisers and their products/services. The inclusion of advertisements or special advertising features in this publication does not imply endorsement of the advertiser/s or their products/services by the publisher. Articles are published in reliance upon the representations and warranties of the authors of the articles and without knowledge of any infringement of any third party’s copyright. Copyright: This publication is protected under the Commonwealth Copyrights Act 1968 and may not, in whole or part, be lent, copied, photocopied, reproduced, translated or reduced to any electronic medium or machine-readable format without the express permission of the publisher. For permissions or reprints, contact the Market Place Strategy Division on phone 07 3249 7347.
QUEENSLAND " MAR 10 2902 4015 2693 241 9851QUEENSLAND " JUN 10 2730 3787 2639 260 9416
LAND SALES NUMBERS (p)
TOTAL RESIDENTIAL# (p)
2902
2730
4015
3787
2693
2639
241
260
MAR 10
JUN 10
QUEENSLAND HOUSE SALES<$350,000 <$500,000 <$1m $1m+
597
604
1352
1285
1425
1469
716
733
158
124
MAR 10
JUN 10
QUEENSLAND UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
# All houses & unit/townhouse sales.
QUEENSLAND (No.) HOUSES ACREAGE UNITS TOTAL RESMar-10 9851 3108 4248 17207Jun-10 9416 1251 4215 14882
QUEENSLAND (%) HOUSES ACREAGE UNITS TOTAL RESMar-10 57% 18% 25% 100%Jun-10 63% 8% 28% 100%
2902
2730
4015
3787
2693
2639
241
260
MAR 10
JUN 10
QUEENSLAND HOUSE SALES<$350,000 <$500,000 <$1m $1m+
597
604
1352
1285
1425
1469
716
733
158
124
MAR 10
JUN 10
QUEENSLAND UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
1373
1422
317
281
97
97
43
43
15
9
MAR 10
JUN 10
QUEENSLAND LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ $1m+
2902
2730
4015
3787
2693
2639
241
260
MAR 10
JUN 10
QUEENSLAND HOUSE SALES<$350,000 <$500,000 <$1m $1m+
597
604
1352
1285
1425
1469
716
733
158
124
MAR 10
JUN 10
QUEENSLAND UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
1373
1422
317
281
97
97
43
43
15
9
MAR 10
JUN 10
QUEENSLAND LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ $1m+
Median house and unit prices Queensland’s residential property market held firm against a confluence of negative factors during the June quarter.
Across the state, buyers became hesitant from about April as the string of interest rate increases started to impact confidence levels and consumer spending.
Agents reported a general lethargy amongst buyers, with most potential purchasers happy to sit on the sidelines and wait until the economy stabilised.
Central Queensland was further affected by the ill-fated resources tax during the quarter which made buyers even more uneasy before it was watered down in early July.
After some dramatic median house price adjustments over the past two years, median prices in Queensland have now returned to their pre-Global Financial Crisis levels.
Since the end of the June quarter, there has been a further slowing of the market as the country headed into what turned out to be a long and protracted Federal Election campaign and decision period.
REIQ accredited agencies are hopeful that the new government will provide the stability the market needs for activity and confidence to strengthen in line with other improving economic indicators at present.
While most major Queensland regions recorded marginal median house price rises or falls over the period, a more buoyant mood was becoming particularly evident in some areas.
The Sunshine Coast recorded a median house price decrease of 1.3 per cent to $470,000 over the June quarter, but agents were predicting happier times just around the corner with an increase in the number of people attending open homes and a more positive outlook overall.
Many buyers had recognised that the June quarter represented the bottom of the Sunshine Coast market and were correspondingly bringing their buying decisions forward.
QUEENSLAND " MAR 10 2902 4015 2693 241 9851QUEENSLAND " JUN 10 2730 3787 2639 260 9416
LAND SALES NUMBERS (p)
TOTAL RESIDENTIAL# (p)
2902
2730
4015
3787
2693
2639
241
260
MAR 10
JUN 10
QUEENSLAND HOUSE SALES<$350,000 <$500,000 <$1m $1m+
597
604
1352
1285
1425
1469
716
733
158
124
MAR 10
JUN 10
QUEENSLAND UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
# All houses & unit/townhouse sales.
QUEENSLAND (No.) HOUSES ACREAGE UNITS TOTAL RESMar-10 9851 3108 4248 17207Jun-10 9416 1251 4215 14882
QUEENSLAND (%) HOUSES ACREAGE UNITS TOTAL RESMar-10 57% 18% 25% 100%Jun-10 63% 8% 28% 100%
2902
2730
4015
3787
2693
2639
241
260
MAR 10
JUN 10
QUEENSLAND HOUSE SALES<$350,000 <$500,000 <$1m $1m+
597
604
1352
1285
1425
1469
716
733
158
124
MAR 10
JUN 10
QUEENSLAND UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
1373
1422
317
281
97
97
43
43
15
9
MAR 10
JUN 10
QUEENSLAND LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ $1m+
2902
2730
4015
3787
2693
2639
241
260
MAR 10
JUN 10
QUEENSLAND HOUSE SALES<$350,000 <$500,000 <$1m $1m+
597
604
1352
1285
1425
1469
716
733
158
124
MAR 10
JUN 10
QUEENSLAND UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
1373
1422
317
281
97
97
43
43
15
9
MAR 10
JUN 10
QUEENSLAND LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ $1m+
SOUTHEAST QUEENSLAND
BRISBANE (SD) $460,000 2.0%
BRISBANE CITY $538,250 1.2%
IPSWICH CITY $325,000 1.6%
LOGAN CITY $365,000 -1.4%
MORETON BAY REGIONAL $407,000 1.2%
REDLAND CITY $468,500 -1.1%
GOLD COAST CITY $495,000 -2.2%
SUNSHINE COAST REGIONAL $470,000 -1.3%
MAJOR REGIONAL CENTRES
BUNDABERG REGIONAL $285,250 0.1%
CAIRNS REGIONAL $358,000 -3.2%
FRASER COAST REGIONAL $300,000 -5.4%
GLADSTONE REGIONAL $370,000 -2.9%
MACKAY REGIONAL $395,000 -2.0%
ROCKHAMPTON REGIONAL $320,000 -1.5%
TOOWOOMBA REGIONAL ~ $285,000 -6.3%
TOWNSVILLE CITY $380,000 1.3%
Gladstone’s median house price also decreased – by 2.9 per cent to $370,000 – over the period but agents said confidence remained robust given the opportunities that lay ahead for the region with the development of LNG. Investor interest continued to be strong, especially from other mining regions of Australia.
Townsville posted a 1.3 per cent median house price increase to $380,000 over the quarter, which was the second strongest performing major behind Greater Brisbane. Townsville continues to enjoy some healthy growth given the diversity of its economy.
The variety of units and townhouses now available to Queensland property buyers helped this segment of the market record solid price growth in many areas over the June quarter.
About 25 per cent of all sales for Queensland residential property are now units and townhouses and this number will increase in the years ahead as more people factor lifestyle, location and affordability into their buying decisions.
The type of developments now available also caters to many different types of buyers. Across the state, units and townhouses continue to provide more affordable options for first home buyers and investors, while prestige buyers are increasingly spending upwards of $1 million to snare a unit with unparalleled water or city views.
The development of high-end unit and townhouse complexes in regional areas is also helping to reshape the traditional landscape of these towns.
Where units and townhouses used to be a relative scarcity in some of our rural and regional centres, this is starting to
change as our population grows and demand for property increases.
Mining is also having an impact on demand and on the types of developments being constructed, so we are seeing an increase in prestige units in Central Queensland, especially Gladstone, Mackay and Rockhampton.
Median land prices Queensland’s vacant urban land remained steady with the number preliminary sales in the June quarter just seven more than in the March quarter.
Across Queensland there were 1,852 preliminary sales of vacant urban land over the June quarter. There was a small shift to land at the affordable end of the market with sales numbers for land under $250,000 increasing.
The potential of the Gladstone region was further evidenced during the quarter with the preliminary number of land sales more than doubling that recorded during the March quarter.
Median rents Median rents for residential rental properties across the State recorded minimal price changes over the year to June 2010. Some regions reported increases of up to $20 per week over the past year with others remaining flat over the same period.
Agents are reporting a mixed-bag in the rental market with some areas showing a definite easing in demand, while others have witnessed an increase in demand of late, especially from would-be first home buyers who are again struggling to get a foothold in the market.
www.reiq.com.auIssue 7 - June Quarter 2010 page 4
MARKETMONITORQ
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BRISBANE CITY
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices Brisbane’s residential property market was hamstrung by a number of negative influences across the June quarter.
Agents reported hesitation amongst buyers as increasing interest rates and economic concerns made decision-making a low priority.
The Brisbane median house price increased 1.2 per cent to $538,250 over the June quarter, and was up 11.6 per cent over the year, partly due to the change in the composition of sales over the 12-month period.
Since the June quarter, agents continued to report indecision amongst buyers, with many putting off buying until a clearer picture emerged about the economy and which parties would form the new government.
There remains a healthy dose of enquiry and attendance at open homes, but very few are buyers who are prepared to take the next step and submit an offer or sign a contract.
Stock levels are high with buyers having plenty to choose from. Vendor expectation appears to have become more realistic and thus lowering their asking prices to meet the market and make a sale.
Some median house price performers in Brisbane over the June quarter included Stretton, Acacia Ridge and Sunnybank.
The Brisbane median unit and townhouse price increased 2.5 per cent to $410,000 over the June quarter.
The highest numbers of preliminary unit and townhouse sales over the June quarter were located in Brisbane City, New Farm, Coorparoo, Nundah and Moorooka.
A trend towards high-end units was evident in Brisbane City with nine preliminary sales of more than $1 million occurring over the quarter. The majority of sales in New Farm were in the $500,000 to $1 million price bracket, while it was sales in the $350,000 to $500,000 range that were more prevalent in Coorparoo, Moorooka and Nundah.
The new Moorooka Links development – formerly an industrial site – is proving popular with interstate investors. The development includes two and three-bedroom apartments ranging in price from $400,000 to $520,000.
Vacant land pricesThe median price of vacant urban land in Brisbane decreased 7.8 per cent to $299,500 over the June quarter and increased 2.2 per cent over the year.
There were only 154 preliminary sales of vacant urban land in the Brisbane local government area over the quarter which highlights the severe lack of land available for new homes in the Brisbane City Council area. By contrast, there were about 3,850 preliminary sales of houses and units and townhouses in Brisbane over the same period.
The most popular suburb for land sales was Heathwood, 23km south of Brisbane, which recorded 20 preliminary sales. Fitzgibbon, 16.5km north of Brisbane, recorded 17 sales in the Fitzgibbon Chase subdivision, which is a state government affordable housing initiative with the Urban Land and Development Authority. Durack, 17km south of the city, recorded 15 sales and the lowest median at $203,000.
Median rentsThe median rent for a two-bedroom unit increased $10 per week to $360 between June 2009 and June this year. The median rent for a three-bedroom house increased $10 per week to $380 over the same period.
Queensland Office of Statistical and Economic Research residential rental vacancy rates recorded a slight easing of demand in Brisbane over the June quarter. The vacancy rate increased to 3.9 per cent from 3.8 per cent in March.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 5
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BRISBANE CITY
HOUSES HOUSES continued
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
SINNAMON PARK ~ 17 $640,000 15.0% $625,000 7.9% 41.6%
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 6
MARKETMONITORQ
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BRISBANE CITY
UNITS & TOWNHOUSES
HOUSES continued UNITS & TOWNHOUSES continued
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN WEEKLY RENTSSuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices Brisbane’s surrounds – which includes Logan City, Ipswich, Redland and Moreton Bay – experienced steady results during the June quarter.
Redland City and Logan City both posted a slight decrease to the median house price by 1.1 per cent to $468,500 and 1.4 per cent to $365,000 respectively. This is on the back of a 7.5 per cent and 5.9 per cent increase over the year ending June.
While its median house price had the biggest increase at 1.6 per cent to $325,000, Ipswich City’s preliminary sales numbers were down slightly over the quarter and the year ending June.
The Moreton Bay local government area also posted an increase to its median house price by 1.2 per cent to $407,000. Moreton Bay continues to be a popular choice among buyers with its preliminary sales numbers at 988 – making up approximately 40 per cent of all sales for Brisbane surrounds.
In the Moreton Bay LGA, Arana Hills managed a 10.5 per cent gain for a median house price of $472,000; as well as Morayfield by 17.4 per cent to $$587,000 whose median was affected by a varying quality of stock.
The Greater Brisbane unit and townhouse market fared well for the quarter with each region, aside from Redland City, posting positive growth to its median price.
Moreton Bay posted 1.5 per cent price growth to $330,000 and Logan City increased 2.1 per cent to $265,000. Ipswich City posted 5.6 per cent growth to $246,000; however, it seems the median was only clawing back lost ground from the previous year. It was also helped along by some new unit sales throughout the Ipswich region.
Bongaree and Redcliffe, in the Moreton Bay region were the best performing suburbs across Great Brisbane with an 18 per cent to $380,000 and 8.2 per cent to $386,700. Bongaree was the only suburb to post double-figure growth for the quarter. The growth in both suburbs was partly attributable to the sale of new units with water-views.
Vacant land pricesNot experiencing the same growth as houses or units and townhouses, land figures across most regions in Greater Brisbane all posted decreases to their median prices; all except Logan City which recorded a 2.8 per cent increase to $219,950.
All regions, however, recorded an increase in preliminary sales numbers over the year.
While the June quarter median for the Redland LGA decreased by 70 per cent, this is not reflective of the region in its entirety as median sales data was affected by varying numbers of sales on the bay islands compared to sales in new premium residential subdivisions on the mainland.
Moreton Bay and Ipswich City both had declining medians over the June quarter with a 1.0 per cent and 0.8 per cent drop to $204,500 and $176,600.
Median rentsThe median rent for a three-bedroom house in Moreton Bay increased $20 per week to $320 over the year, rent for this housing type has also increased $10 per week in Logan City to $320. Ipswich City also posted an increase to $275 jumping up $5 per week; continuing the trend, Redland City also increased its weekly rent by $10 a week to $360.
The median rent for a two-bedroom unit rose by $10 per week to $240 in Ipswich City compared to June 2009 and by $10 in Redland City to $310 per week. The weekly rent remained steady in Moreton Bay and Logan City at $260 and $240 per week, respectively.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 10
MARKETMONITORQ
UE
EN
SLA
ND
BRISBANE SURROUNDS
HOUSES continuedHOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATA
IPSWICH CITY (LGA) 412 $325,000 1.6% $323,000 4.2% 51.5%
www.reiq.com.auIssue 7 - June Quarter 2010 page 12
MARKETMONITORQ
UE
EN
SLA
ND
BRISBANE SURROUNDS
VACANT URBAN LAND continued 3 BEDROOM HOUSES
Suburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
MEDIAN WEEKLY RENTSSuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA
NEW BEITH ^ * 1 N/A N/A $252,000 4.5% 52.3%
UNDERWOOD * 14 $341,500 3.5% $340,000 5.3% 60.0%
WATERFORD * 18 $202,500 20.5% $180,000 5.0% 33.3%
MORETON BAY (LGA) 211 $204,500 -1.0% $201,250 -3.9% 19.8%
4165 Mt Cotton/ Redland Bay/ Victoria Point/ etc. 355 15 345 15
www.reiq.com.auIssue 7 - June Quarter 2010 page 14
MARKETMONITORQ
UE
EN
SLA
ND
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
GOlD COAST CITY
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
Median house and unit prices Experiencing a subdued quarter, the Gold Coast property market posted negative median price changes and preliminary sales numbers across the board; however, still recorded a 8.6 per cent increase to its median price over the year ending June 2010.
According to median house prices, outside Brisbane City, the Gold Coast remains the most expensive region to live in across the State although its median house price decreased 2.2 per cent to $495,000 over the June quarter. Sales numbers are holding relatively steady over the year ending June.
REIQ accredited agents are reporting the reemergence of investors back into the market around the $400,000 price bracket in a bid for future financial returns.
At the higher end of the market, Broadbeach Waters, the central hub of the Gold Coast, posted a healthy 6.4 per cent increase to its median to $920,000.
Robina, the third largest suburb on the Gold Coast, posted a 7.1 per cent median price increase to $557,000 over the quarter.
Highland Park was another well-performing suburb, driven by price and reasonably central to amenities. Its median increased by 9.9 per cent to $461,500.
While preliminary sales numbers were up over the year, the Gold Coast unit and townhouse market dropped its median by 3.1 per cent to $368,250.
While investors have begun to prosper in the housing market, they’ve taken a ‘back-seat’ approach to units and townhouses on the Gold Coast and are becoming price sensitive.
The heart of tourism on the Gold Coast, Surfers Paradise continued its upward motion of positive growth posting an 11.5 per cent median price increase to $398,500. Surfers Paradise recorded the highest number of preliminary sales of units and townhouses over the June quarter.
Median vacant land pricesThe median price for vacant urban land on the Gold Coast decreased 1.2 per cent to $240,000 over the June quarter while still maintaining its growth for the year ending June by increasing its median by 2.1 per cent.
Although posting a decline to its median price, the preliminary sales of vacant urban on the Gold Coast increased for the quarter and for the year ending June 2010.
There is still an undersupply of vacant land due to the limited land left for residential development in the region.
Median rentsThe median rent for a three-bedroom house on the Gold Coast increased $10 per week to $400 between June 2009 and June this year; whereas, the median rent for a two-bedroom unit remained unchanged at $340 per week, over the same period.
The most expensive postcode to rent in is 4217 (Benowa/ Main Beach/ Surfers Paradise) increasing its rent for a three-bedroom house by $55 per week to $520, although there was 33 bonds lodged for this area in the June quarter 2010, compared to 49 during the same period last year.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 15
MARKETMONITORQ
UE
EN
SLA
ND
GOlD COAST CITY
HOUSES HOUSES continued
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
GOLD COAST CITY (LGA) 855 $495,000 -2.2% $505,000 8.6% 27.8%
4226 Clear Island Waters/ Merrimac/ Robina 420 70 400 89
4227 Reedy Creek/ Varsity Lakes 410 45 395 70
3 BEDROOM HOUSES
Suburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
MEDIAN WEEKLY RENTS
Suburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
MEDIAN WEEKLY RENTSSuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
4226 Clear Island Waters/ Merrimac/ Robina 390 124 380 84
4227 Reedy Creek/ Varsity Lakes 385 77 360 56
www.reiq.com.auIssue 7 - June Quarter 2010 page 17
MARKETMONITORQ
UE
EN
SLA
ND
TOOWOOMBA REGIONAl
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices The Toowoomba residential property market was impacted by lower demand as well as sales at the affordable end of the market throughout the June quarter.
Toowoomba’s median house price decreased 6.3 per cent to $285,000 over the period. Over the year, however, it posted a 7.6 per cent increase.
The number of preliminary sales was down about 8 per cent over the quarter as buyers assessed the economic situation as well as a period of rapidly increasing interest rates.
Tighter lending criteria also prevented many would-be buyers from purchasing property, especially those that may be already highly-geared.
While the Toowoomba region is on track to benefit from the development of coal seam gas in the Surat Basin, the impact from this will certainly be over the long-term and thus has yet to spur a marked increase in market activity.
Savvy investors, however, are taking the opportunity to purchase property while it remains some of the most affordable of Queensland’s major regional centres.
The city’s more affordable western suburbs are catching the eye of buyers with preliminary sales numbers up substantially in Wilsonton, which recorded 20 more sales in the June quarter than it did in March.
Harlaxton, another affordable western suburb, recorded median house price growth of 9.4 per cent to $246,250 and was up 7.7 per cent over the year.
The median unit and townhouse price in Toowoomba decreased 6 per cent over the June quarter to $225,500. This result was due to the higher number of sales than usual of affordable stock occurring over the period.
Median land prices Toowoomba’s vacant urban land price decreased 4.8 per cent to $128,000 over the June quarter, but was up 17.3 per cent over the year, possibly due to the strong demand from first home buyers in the second half of 2009.
Sales over the year were also up due to land subdivisions at Glenvale and Wilsonton Heights.
Over the June quarter, there was little interest from builders or developers in this segment of the market possibly as it remains difficult for them to access the finance needed to fund new residential developments.
The State Government’s $4,000 regional first home owner bonus for building or buying a new home has had no positive impact on the market since it was introduced.
Median rents The median rent for a three-bedroom house increased $20 per week to $260 between June 2009 and June this year. The median rent for a two-bedroom unit was also up $20 to $200 per week over the same period.
The region continues to have a robust rental market given the steady stream of new residents settling in the area for work or study at the University of Southern Queensland.
Investor numbers have also reduced of late which will no doubt ensure that pressure remains on this segment of the market.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 18
MERINGANDAN WEST * 6 $110,000 2.3% $107,500 N/A 65.4%
MIDDLE RIDGE * 1 N/A N/A $215,500 31.8% 45.4%
MOUNT LOFTY 5 $290,000 N/A N/A N/A N/A
OAKEY 5 $77,500 N/A N/A N/A N/A
WESTBROOK 3 N/A N/A $108,250 9.3% 17.7%
WILSONTON HEIGHTS - N/A N/A $130,000 N/A N/A
UNITS & TOWNHOUSES
Suburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
MEDIAN WEEKLY RENTSSuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA
TOOWOOMBA REGIONAL COUNCIL AREA 260 599 240 644
4350 Newtown/ Rangeville/ Harristown/ Wilsonton/ etc. 265 438 250 493
4352 Highfields/ Meringandan/ Preston/ Withcott/ etc. 250 28 255 32
4355 Crows Nest/ Glenaven/ Jones Gully/ etc. 205 8 215 7
4356 Pittsworth/ Bongeen/ Stoneleigh/ etc. 220 30 200 22
4357 Millmerran/ Bringalily/ Stonehenge/ etc. 200 10 200 10
4359 Ascot/ Budgee/ Greenmount/ etc. 190 6 n.a. 2
4361 Back Plains/ Clifton/ Sandy Camp/ etc. 200 12 220 7
4400 Kingsthorpe 250 8 280 8
4401 Acland/ Biddeston/ Oakey/ etc. 225 35 220 33
4614 Neumgna/ Upper Yarraman/ Yarrman/ etc. 210 7 190 9
TOOWOOMBA REGIONAL COUNCIL AREA 200 308 180 314
4350 Newtown/ Rangeville/ Harristown/ Wilsonton/ etc. 205 282 180 290
4401 Acland/ Biddeston/ Oakey/ etc. 170 11 170 9
www.reiq.com.auIssue 7 - June Quarter 2010 page 19
MARKETMONITORQ
UE
EN
SLA
ND
SUNSHINE COAST REGIONAl
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices The Sunshine Coast has been buoyed by increasing consumer confidence over recent weeks with buyer enquiry and activity increasing.
The improved market conditions at present follow a June quarter described as being the bottom of the market.
The Sunshine Coast median house price decreased 1.3 per cent to $470,000 over the quarter and was up 5.6 per cent over the year. Preliminary house sales numbers were also down by about 15 per cent over the quarter.
Since that time, conditions have markedly brightened as buyers began to recognise that interest rates would likely remain steady over the short-term.
Agents are reporting increased buyers through open homes, investor interest strengthening, and activity at the top end of the market also taking place with a number of house sales between $3 million and $4 million occurring.
Aroona and Beerwah posted solid median house price growth over the quarter. Aroona’s median house price increased 4.1 per cent to $460,000 and Beerwah’s was up 4.2 per cent to $432,500. Both of these suburbs are attractive areas for first home buyers and investors given the variety of affordable stock available.
The Sunshine Coast median unit and townhouse price edged up 2.2 per cent to $373,000 over the quarter.
Agents are reporting steady demand with some multimillion-dollar sales in prestige unit developments.
There has also been increased interest from southern investors, especially Melbourne, over recent times.
Buderim’s median unit and townhouse price increased 2.5 per cent to $395,750 over the period. Buderim, located atop Buderim Mountain is approximately 10km inland from Mooloolaba and has evolved from a holiday destination to a bone fide desirable residential area over the past 10 years.
Caloundra’s median unit and townhouse price increased 5.9 per cent to $410,000 over the June quarter. Growing in popularity, Caloundra is an ideally located beach community offering great value for money in the accommodation stakes compared with its more pricey local neighbours such as Noosa Heads and Mooloolaba.
Median land prices The median price for Sunshine Coast vacant urban land increased 1.9 per cent to $265,000 over the June quarter.
For the period, the region recorded 125 preliminary land sales, down about 10 per cent on the previous quarter.
The Sunshine Coast continues to be impacted by the scarcity of vacant urban land available to sell.
Median rents The median rent for a two-bedroom unit on the Sunshine Coast increased $10 per week to $300 between June last year and June this year. The median rent for a three-bedroom house was up $20 per week to $370 over the same period.
The rental market remains in relatively good shape on the Sunshine Coast with a more balanced supply of stock for tenants to choose from. Vacancy rates are remaining low ensuring continued upward pressure on rents.
With investor activity starting to strengthen, and population growth for the region remaining robust, it is likely that the Sunshine Coast’s rental market will remain steady going forward.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 20
MARKETMONITORQ
UE
EN
SLA
ND
SUNSHINE COAST REGIONAl
HOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
Median house and unit prices The Fraser Coast was impacted by slower sales over the June quarter, posting a median house price decrease of 5.4 per cent to $300,000. The median price of acreage homes, however, recorded a 13 per cent price rise to $421,000 over the same period.
Over the year, the Fraser Coast median house price increased 3.2 per cent.
There was a general feeling of uncertainty throughout the region over the quarter with this uneasiness impacting both the residential and commercial property market.
Agents reported lower buyer activity especially from investors.
The majority of sales were to local owner-occupiers and retirees relocating to the region for a sea change. The relative affordability of the Fraser Coast is still proving attractive to southern retirees.
During July and August, the market was further subdued by uncertainty surrounding the election.
A solid performer over the June quarter was Toogoom which posted a 4.7 per cent median house price increase to $337,500. The suburb is located halfway between Hervey Bay and Burrum Heads and has a consistent level of demand from buyers seeking a more rural, affordable beachside lifestyle within 15 minutes’ drive of the city.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 22
MARKETMONITORQ
UE
EN
SLA
ND
FRASER COAST REGIONAl
HOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
HOUSES continued
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
The region’s robust result for acreage properties, while partly impacted by the varying quality of stock sold, can be attributed to the variety of affordable large home sites available to buyers.
The Fraser Coast median unit and townhouse price decreased 4.5 per cent to $274,000 over the period.
This segment of the market continues to be impacted by an oversupply of properties with developers reducing their prices to attract buyers.
Median land prices The median price for vacant urban land increased 2.7 per cent to $154,500 over the June quarter.
The State Government’s first home owner’s regional grant of $4,000 to build or buy a new home has failed to attract much interest from buyers.
There remains an ample supply of affordable land in the region with house and land packages available in Hervey Bay for under $300,000.
Sales of lots sized between 600sqm and 945sqm in the Ocean Blue residential estate are continuing in Point Vernon as well as sales of existing stock in older estates throughout the region. Acreage land at Glenwood continues to sell well with 22 preliminary sales during the June quarter.
Median rents The median rent for a two-bedroom unit remained flat at $200 per week on the Fraser Coast between June 2009 and June this year. The median rent for a three-bedroom house increased marginally by $5 per week to $250 over the same period.
The rental market on the Fraser Coast continues to be well-balanced with a steady level of supply and demand.
In Hervey Bay, renters are leaning towards newer townhouses while in Maryborough the more affordable, older unit stock is continuing to be popular.
SCARNESS ~ f 10 $152,500 N/A $255,000 -7.3% -13.6%
TORQUAY ~ f 10 $247,500 -7.3% $254,000 -12.0% 17.5%
URANGAN * 34 $325,000 3.2% $330,000 2.5% 7.3%
UNITS & TOWNHOUSES
www.reiq.com.auIssue 7 - June Quarter 2010 page 23
MARKETMONITORQ
UE
EN
SLA
ND
FRASER COAST REGIONAl
BUNDABERG REGIONAl
2 BEDROOM FLATS/UNITS
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
VACANT URBAN LAND 3 BEDROOM HOUSES
Suburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
MEDIAN WEEKLY RENTSSuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
Median house and unit prices The Bundaberg residential property market was impacted by lower sales activity throughout the June quarter.
Its median house price increased 0.1 per cent to $285,250 over the quarter, and was up 2.5 per cent over the year.
REIQ accredited agents report a general lack of urgency from buyers with many content to sit on the sidelines until a clearer picture on the economy and interest rates emerged. Since the June quarter, there has been no increased activity even though interest rates have been hold since June.
Investors remained relatively active, however, with many searching for houses priced between $250,000 and $300,000.
Prospective buyers continue to be hamstrung by tighter lending criteria with agents reporting double the number of contracts falling through because of an inability to access finance. Lenders are continuing to require bigger deposits as well as more strict lending criteria across the board.
Suburbs to perform well over the quarter included Avenell and Svensson Heights.
Avenell Heights’ median house price increased 10 per cent to $293,000 over the period. The suburb is attractive to up-graders and is home to a large number of new homes.
The median house price in Svensson Heights increased 8.5 per cent to $280,000 over the quarter. Svensson Heights is an older suburb that has more affordable stock on large blocks. Given its affordability, the suburb is attractive to investors.
The median unit and townhouse price in Bundaberg decreased 6.2 per cent to $241,000 over the June quarter.
There remains an oversupply of units and townhouses in Bundaberg, with developers dropping their asking prices to move some of their stock. This segment of the market remains attractive to older buyers, retirees and down-sizers.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 24
MARKETMONITORQ
UE
EN
SLA
ND
BUNDABERG REGIONAl
3 BEDROOM HOUSES
2 BEDROOM FLATS/UNITS
MEDIAN WEEKLY RENTSSuburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
HOUSES VACANT URBAN LAND
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
The affordable price of houses in the region means first home buyers generally buy an older home to renovate with the sellers then moving onto newer units and townhouses closer to the city.
Median land prices The median price for vacant urban land in Bundaberg decreased 3.2 per cent to $136,500 over the period. Over the year, the median price decreased by 0.7 per cent.
Uneasiness surrounding the economy, interest rates, and lately, the election has resulted in a marked decrease in the number of new homes being built in the region.
Median rents The median rent for a two-bedroom unit in Bundaberg increased $10 per week to $205 between June 2009 and June this year. The median rent for a three-bedroom house also increased by $10 per week to $260 over the same period.
Bundaberg’s rental market continues to be underpinned by migration to the region. The affordability of stock in the area, together with the reasonable solid rents being achieved, ensures that investors remain interested in buying in the Bundaberg region.
www.reiq.com.auIssue 7 - June Quarter 2010 page 25
MARKETMONITORQ
UE
EN
SLA
ND
GlADSTONE REGIONAl
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices The Gladstone region held its own despite a number of negative influences throughout the June quarter.
While its median house price decreased 2.9 per cent to $370,000 over the quarter, it was flat over the year.
Agents reported steady activity even though economic uncertainty and the proposed mining tax were unsettling buyers. Indeed, the region was one of the few areas to post an increase in the number of preliminary house sales over the period.
One buyer-type not afraid to purchase property was investors who continued to show strong interest in the region, specifically those from other areas impacted by mining and LNG. Investors are confident about the future of the Gladstone region, in particular, the growth of LNG.
While there has been no official word on the status of the development of LNG in the region, possibly due to the election, it is understood that the creation of a workers camp on Curtis Island is starting to take shape.
Agents are expecting buyer enquiry to steadily increase in the months leading up to Christmas with demand next year likely to be stronger still.
Boyne Island recorded a 4.5 median house price rise to $415,000 over the quarter and continues to be an attractive lifestyle suburb for mine workers and their families.
West Gladstone posted a 5.4 per cent median house price increase to $377,500 over the period. West Gladstone is a popular conveniently-located suburb that appeals to buyers wishing to renovate older homes.
The Gladstone unit and townhouse price experienced a substantial median price jump over the period after a significant price drop the previous quarter. The varying quality of stock sold over these two periods impacted the median price.
Affordable units are in short supply given they are snapped up very quickly by investors and first home buyers; therefore, there has been a trend towards new townhouse stock priced above $400,000.
Median land prices The median price of vacant urban land in Gladstone increased 2 per cent to $180,000 over the quarter. Over the year, it increased 2.9 per cent.
Optimism about the region’s future has resulted in builders buying large tracts of available land to develop as Gladstone’s population grows and demand increases in the months and years ahead.
The development of master-planned community, Emmadale Gardens in Kirkwood, has been under way since 2008 and is continuing to attract buyers, as is a new land release in the Gecko Valley Estate in Glen Eden.
Median rents The median rent for a two-bedroom unit in Gladstone decreased $10 per week to $230 between June 2009 and June this year. The median rent for a three-bedroom house was flat at $300 over the same period.
Agents reported steady rents over the June quarter itself, however, with demand still strong from an ever-increasing number of workers relocating to the region. Vacancy rates are constrained however the robust number of active investors will continue to add to the pool of existing stock.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 26
MARKETMONITORQ
UE
EN
SLA
ND
GlADSTONE REGIONAl
ROCKHAMPTON REGIONAl
3 BEDROOM HOUSES
2 BEDROOM FLATS/UNITS
HOUSES VACANT URBAN LAND
UNITS & TOWNHOUSES
MEDIAN WEEKLY RENTSSuburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
BOYNE ISLAND * f 15 $196,000 N/A $200,000 N/A 94.2%
BURUA ^ 5 $230,000 N/A N/A N/A N/A
CALLIOPE * 28 $155,000 14.8% $155,000 6.9% 157.3%
CALLIOPE ^ 8 $185,000 N/A $185,000 N/A N/A
GLEN EDEN * 10 $185,000 N/A $181,000 N/A 54.0%
KIRKWOOD * 15 $184,300 0.2% $178,000 -5.8% N/A
GLADSTONE REGIONAL COUNCIL AREA 300 248 300 215
4677 Agnes Water/ Miriam Vale 280 15 250 11
4680 Gladstone/ Boyne Island/ Clinton/ Kin Kora/ etc. 305 225 300 197
GLADSTONE REGIONAL COUNCIL AREA 230 166 240 150
4680 Gladstone/ Boyne Island/ Clinton/ Kin Kora/ etc. 230 162 240 148
Median house and unit prices The ambiguity of the recent political scene has created uncertainty amongst potential buyers in the Rockhampton market.
The median house price in Rockhampton decreased by 1.5 per cent to $320,000 over the June quarter and was up 5.1 per cent over the year.
REIQ accredited agents in the area are reporting the number of sales to be down; however, the price hasn’t been affected too much.
As with the rest of the State, first-home buyers left the market on 31 December last year when the First Home Owners Boost ended.
The Rockhampton property market is yet to notice the impact of the state government’s regional First Home Owner Grant with agents reporting the presence of first-timers only in small numbers.
One of the only suburbs in the region experiencing positive growth without a varying quality of stock affecting the figures was Kawana. Roughly five kilometres north of the city centre, the affordable Kawana increased its median price by 3.3 per cent to $310,000 for the June quarter.
While the number of preliminary sales were up in Norman Gardens, its median dropped by 3.1 per cent. Being a reasonably new area, and therefore one of the most popular, the slight decline would be due to a slight varying quality of stock with some homes having picturesque views.
The Range, one of Rockhampton’s more established, prestige suburbs with timeless Queenslanders, experienced a median house price jump of 14.8 per cent to $410,000. This is mainly attributed to the varying quality of stock sold.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 27
MARKETMONITORQ
UE
EN
SLA
ND
ROCKHAMPTON REGIONAl
HOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
The Rockhampton unit and townhouse median price slumped 2.9 per cent to $276,750; although its median increased by 4.2 per cent over the year ending June 2010.
Agents in the area believe this segment of the market is impacted by investors – who seem to have gone missing over the June quarter.
Median land prices The median price of vacant urban land in Rockhampton eased during the June quarter with existing (or established) homes being a more attractive and affordable option to buyers.
The median price of vacant urban land decreased by 7.3 per cent over the June quarter to $139,000, and was up 0.7 per cent over the year.
Gracemere experienced a 21.1 per cent median price growth over the quarter mainly due to new house and land packages, and townhouse development at Chatterton Park Estate.
This suburb, just nine kilometres west of the city, has become a dormitory town with many residents commuting to work.
The increase in preliminary sales numbers in Gracemere, where land is relatively more affordable, contributed to the region’s easing in overall median land price.
Median rents The median rent for a two-bedroom unit in Rockhampton increased by $20 per week to $230 between June last year and June this year. The median rent for a three-bedroom house also increased by $10 per week to $290 over the same period.
Rockhampton’s rental market has remained solid and seemingly unaffected by current economic conditions, with agents reporting stronger demand over recent months.
The most expensive postcode to rent in is 4703 (Cooee Bay/ Rosslyn/ Taranganba/ Yeppoon/) increasing its rent for a three-bedroom house by $20 per week to $320 over the year.
ZILZIE * f 14 $187,500 -14.8% $160,000 -4.5% 25.0%
UNITS & TOWNHOUSES
VACANT URBAN LAND
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 28
MARKETMONITORQ
UE
EN
SLA
ND
ROCKHAMPTON REGIONAl
MACKAY REGIONAl
3 BEDROOM HOUSES
2 BEDROOM FLATS/UNITS
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
Suburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
MEDIAN WEEKLY RENTS
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
Median house and unit prices The Mackay residential property market was hampered by a number of negative influences throughout the June quarter and beyond.
The median house price in Mackay decreased 2 per cent to $395,000 over the June quarter and was up 3.9 per cent over the year.
The region was hit by a cyclone and heavy rains in March and April this year, while the cumulative effect of multiple interest rate rises also started to bite from April. The proposed mining tax resulted in nervousness amongst buyers from early May and the end of the financial year also slowed the market. Then the election period kept even more buyers on the sidelines.
Agents are reporting that the impact of these factors combined meant the Mackay market has been all but dormant. Investors and first home buyers have dried up, and a stricter lending criterion is continuing to make it difficult for buyers to access finance.
The most predominant buyers at present are mums and dads who are selling their existing homes for about $350,000 and buying in the $450,000 to $550,000 price bracket. Some sellers are downsizing from high-sets to low-sets.
Solid performers over the June quarter were Glenella, Slade Point and South Mackay.
Glenella recorded 6.6 per cent median house price growth to $525,000 over the period. Glenella is a popular suburb that is also home to the prestigious Northview Gardens residential estate.
Slade Point’s median house price increased 4.1 per cent to $382,500 over the quarter. Slade Point is located along the foreshore and is home to a variety of beachfront properties.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 29
MARKETMONITORQ
UE
EN
SLA
ND
MACKAY REGIONAl
3 BEDROOM HOUSES
MEDIAN WEEKLY RENTSSuburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
UNITS & TOWNHOUSES
HOUSES VACANT URBAN LAND
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
South Mackay’s median house price grew 4.7 per cent to $361,250. The suburb continues to be very popular with buyers partly due to the rarity of residential properties in the south and east of Mackay.
Mackay’s median unit and townhouse price increased 10.4 per cent to $330,000 over the quarter. This segment of the market has been impacted by the sales of units in new complexes as developers try to off-load stagnant stock.
Median land prices The median price of vacant urban land in Mackay increased 0.1 per cent to $180,500 over the quarter, and was up 5.9 per cent over the year.
The relatively high price of land in Mackay is continuing to constrain this segment of the market. Mackay now has the most unaffordable land outside of South East Queensland. Indeed median land prices in Greater Brisbane are only marginally more expensive than in Mackay.
There has been some new land releases on the Northern Beaches which are offering reasonably-sized and reasonably-priced blocks.
Median rents The median rent for both two-bedroom units and three-bedroom houses in Mackay remained unchanged between June last year and June this year, staying at $280 and $375 per week respectively.
Mackay’s rental market was considered to be in relatively poor shape at the beginning of the year with a number of vacant properties, and the re-appearance of For Let/Rent signboards – a sight not seen in the region for a few years.
Since that time, however, the rental market has stabilised with agents reporting stronger demand over recent months.
4740 Andergrove/ Beaconsfield/ Mackay/ Ooralea/ etc. 289 215 285 200
4750 Bucasia/ Shoal Point 250 8 260 10
MACKAY REGIONAL COUNCIL AREA 400 17 460 10
4740 Andergrove/ Beaconsfield/ Mackay/ Ooralea/ etc. 400 16 460 9
2 BEDROOM FLATS/UNITS
3 BEDROOM TOWNHOUSES
www.reiq.com.auIssue 7 - June Quarter 2010 page 30
MARKETMONITORQ
UE
EN
SLA
ND
TOWNSVIllE REGIONAl
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices Outside of Brisbane, Townsville was the only region to experience positive median house price growth over the June quarter. Townsville City increased its median by 1.3 per cent to $380,000 over the quarter, and was up 4.5 per cent over the year.
Agents are confirming strong consumer confidence in the Townsville market because the economy is diverse. Given the strength of the market, agents are also reporting that properties, across the board – from the lowest to highest end - are selling.
The more established suburbs have appeared to be the most popular, offering homebuyers’ lifestyle, convenience and value for money. Mundingburra, Annandale, and Wulguru all posted median house price increases - up 9.7 per cent to $402,500, 6.8 per cent to $470,000 and 1.2 per cent to $330,000, respectively.
Kirwan continued its popularity notching up the highest number of preliminary sales across the region for the June quarter. South Townsville was the best performing suburb over the year posting a 14.9 per cent increase to its median.
The unit and townhouse market did not fare as well as houses, dropping its median price by one per cent on last quarter’s figures to $312,000. Preliminary sales numbers were also down compared to the March quarter as well as to the previous 12 months.
REIQ agents in the area are still reporting an oversupply in this segment of the market as owners continue to put their units and townhouses up for sale.
Northward, one of Townsville's oldest suburbs with beachside overlooking Magnetic Island, was the only suburb to achieve positive growth with an 8.2 per cent increase to its median price, although preliminary sales figures for the area were slightly down on last quarter’s.
Agents are reporting a scarcity of first home buyers in this segment as those who could have purchased, would have done so when the First Home Owners Boost was available last year.
Median land prices The median price for vacant urban land in Townsville increased 2.1 per cent to $174,000 over the June quarter, with preliminary figures holding steady on last quarter’s numbers.
Bushland Beach notched up the highest number of preliminary sales for the region and increased its median price by 35.1 per cent to $195,250. The new Sunland Group master-planned, beachside community, just 15-minutes from the centre of the city is to thank for this.
Agents believe first-timers have been swaying towards vacant urban land as a possible option for entering the property market.
Median rents The median rent for a two-bedroom unit in Townsville increased $10 per week to $275 between June 2009 and June this year. The median rent for a three-bedroom house also jumped $10 per week to $330 over the same period.
The most expensive postcode to rent in is 4817 (Alice River, Bohle Plains, Hervey Range, Kirwan to name a few) increasing its rent for a three-bedroom house by $15 per week to $345.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 31
MARKETMONITORQ
UE
EN
SLA
ND
TOWNSVIllE CITY
HOUSES
3 BEDROOM HOUSES
2 BEDROOM FLATS/UNITS
MEDIAN WEEKLY RENTSSuburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
VACANT URBAN LAND
UNITS & TOWNHOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr” Jun 2010 1yr” 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr” Jun 2010 1yr” 5yrs
TOWNSVILLE CITY (LGA) 412 $380,000 1.3% $375,000 4.5% 57.9%
4812 Currajong/ Gulliver/ Mundingburra/ Rosslea/ etc. 270 8 270 13
2 BEDROOM TOWNHOUSES
www.reiq.com.auIssue 7 - June Quarter 2010 page 32
MARKETMONITORQ
UE
EN
SLA
ND
CAIRNS REGIONAl
9
BRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALESBRISBANE CITY HOUSE SALES TOOWOOMBA HOUSE SALES ROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALESROCKHAMPTON HOUSE SALES<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+<$350,000 <$500,000 <$1m $1m+ <$350,000 <$500,000 $500,000+<$350,000 <$500,000 $500,000+
GLADSTONE HOUSE SALES<$350,000 <$500,000 $500,000+
171
159
207
198
51
55
MAR 10
JUN 10
TOWNSVILLE HOUSE SALES<$350,000 <$500,000 $500,000+
62
70
183
150
46
51
MAR 10
JUN 10
MACKAY HOUSE SALES<$350,000 <$500,000 $500,000+
164
128
72
62
29
25
MAR 10
JUN 10
ROCKHAMPTON HOUSE SALES<$350,000 <$500,000 $500,000+
274
272
101
88
33
13
MAR 10
JUN 10
TOOWOOMBA HOUSE SALES<$350,000 <$500,000 $500,000+
6
45
1
2
2 5
8
8
9
6
8
6
45
1
2
5
4
1
3
2 5
8
8
9
6
8
6
45
1
2
BRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALESBRISBANE CITY UNIT SALES ROCKHAMPTON UNIT SALESTOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 $500,000+<$250,000 <$350,000 <$500,000 $500,000+
BRISBANE CITY UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
104
102
240
224
101
110
55
45
MAR 10
JUN 10
BRISBANE SURROUNDS' UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
99
123
415
428
407
405
278
258
91
46
MAR 10
JUN 10
GOLD COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
44
45
163
139
145
146
100
87
23
19
MAR 10
JUN 10
SUNSHINE COAST UNIT SALES<$250,000 <$350,000 <$500,000 <$1m $1m+
16
28
19
14
5
4
1
3
MAR 10
JUN 10
BUNDABERG UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
124
80
64
69
31
30
14
25
MAR 10
JUN 10
CAIRNS UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
13
32
15
24
2
10
5
8
MAR 10
JUN 10
FRASER COAST UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
9
11
9
12
14
3
5
MAR 10
JUN 10
GLADSTONE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
26
23
59
38
30
19
14
12
MAR 10
JUN 10
TOWNSVILLE UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
14
14
28
12
8
9
6
8
MAR 10
JUN 10
MACKAY UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
10
16
21
12
12
10
6
4
MAR 10
JUN 10
ROCKHAMPTON UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
43
47
21
22
10
5
1
2
MAR 10
JUN 10
TOOWOOMBA UNIT SALES<$250,000 <$350,000 <$500,000 $500,000+
3
4
2
0
3
7
2
2
8
3
7
3
2
1
5
2
0
4
3
4
2
0
3
7
2
2
8
3
5
8
4
4
1
0
BUNDABERG LAND SALES
7
3
2
1
3
5
5
2
0
4
3
4
2
0
3
7
2
2
BRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALESBRISBANE CITY LAND SALES TOOWOOMBA LAND SALES ROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALESROCKHAMPTON LAND SALES<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+<$250,000 <$350,000 <$500,000 $500,000+ <$250,000 <$350,000 $350,000+<$250,000 <$350,000 $350,000+
JUN 09 273 96 9 16 JUN 09 176 99 18 19 SEP 09 159 75 12 25 SEP 09 112 79 26 15 DEC 09JUN 10 5 1222 6047 815 11 5 DEC 09 JU 91N 10 68 28 14 56 8 3JUN 1081 1 3
66 61 13 15MAR 10 58 10 5MAR 1032 6 2MAR 10
26
54
55
49
47
36
12
15
MAR 10
JUN 10
BRISBANE CITY LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
418
417
106
96
17
27
8
3
MAR 10
JUN 10
BRISBANE SURROUNDS' LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
67
83
38
41
5
8
14
14
MAR 10
JUN 10
GOLD COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
66
52
61
47
13
15
15
11
MAR 10
JUN 10
SUNSHINE COAST LAND SALES<$250,000 <$350,000 <$500,000 $500,000+
52
44
4
4
1
0
MAR 10
JUN 10
BUNDABERG LAND SALES<$250,000 <$350,000 $350,000+
58
56
10
8
5
3
MAR 10
JUN 10
CAIRNS LAND SALES<$250,000 <$350,000 $350,000+
61
57
7
3
2
1
MAR 10
JUN 10
FRASER COAST LAND SALES<$250,000 <$350,000 $350,000+
32
81
6
1
2
3
MAR 10
JUN 10
GLADSTONE LAND SALES<$250,000 <$350,000 $350,000+
62
58
11
12
3
5
MAR 10
JUN 10
TOWNSVILLE LAND SALES<$250,000 <$350,000 $350,000+
80
81
5
2
0
4
MAR 10
JUN 10
MACKAY LAND SALES<$250,000 <$350,000 $350,000+
57
67
3
4
2
0
MAR 10
JUN 10
ROCKHAMPTON LAND SALES<$250,000 <$350,000 $350,000+
67
54
3
7
2
2
MAR 10
JUN 10
TOOWOOMBA LAND SALES<$250,000 <$350,000 $350,000+
Median house and unit prices Cairns experienced a 3.2 per cent over drop in its median house price to $358,000 during the June quarter; however, the majority of the sales over the period were at the lower end of the market and thus pushed the median lower. More positively, Cairns posted a 2.8 per cent increase over the 12 months ending June 2010.
Following the June quarter, uncertainty surrounding the Federal Election also kept potential buyers’ plans on hold.
Agents are reporting a significant drop in first home buyer numbers, as well as a lack of investment purchasing; however, enquiry from this segment of the market remains relatively robust.
Solid median house performers during the quarter were Whitfield, Bentley Park and Smithfield – up 10.2 per cent, 6.6 per cent and 1.1 per cent respectively. These suburbs were the only ones to achieve an increase in their median house price without contributing factors such as varying qualities of stock.
While impacted by the varying quality of stock sold and only a small sample, Mooroobool experienced a jump in its median house price over the quarter. The result was compounded by a lower number of preliminary house sales compared to the preliminary March quarter sales numbers (down 11 sales) – with the largest drop being recorded in the sub-$350,000 price range.
Conversely, the Cairns unit and townhouse market posted a promising 17.3 per cent change in its median price to $285,000, largely attributed to the number of new waterfront prestige units sold in Palm Cove, Port Douglas and Trinity Beach, which all posted strong growth at 40.4 per cent, 30.8 per cent and 26.1 per cent respectively.
Across the region, however, preliminary sales numbers were down by 29 since last quarter.
Median land prices Similarly to the median house price, the Cairns land market suffered a decline in its median price by 5.3 per cent to $160,000 dropping back to prices not seen since June last year. This is in-line with a corresponding drop in the number of new land sales in Smithfield.
Agents in the region are reporting that the State Government’s first home owner’s regional grant of $4,000 to build or buy a new home has failed to attract much attention from buyers.
Bluewater, a master-planned community 20 minutes from the Cairns CBD in Trinity Beach, should hopefully create some much-needed activity in the residential land market in the coming months.
Throughout the region, Bentley Park recorded the highest number of preliminary sales with its median price at $136,500.
Median rents The Cairns rental market held steady over the June quarter with figures remaining the same across the board.
The median rent for a three-bedroom house in Cairns remained steady at $300 between June 2009 and June this year. The median rent for a two-bedroom unit also continued to stay the same at $250 per week during the same period.
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 33
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CAIRNS REGIONAl
HOUSES
2 BEDROOM FLATS/UNITS
VACANT URBAN LAND
UNITS & TOWNHOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
www.reiq.com.auIssue 7 - June Quarter 2010 page 34
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OTHER REGIONAl AREAS
HOUSES HOUSES continued
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
Median house and unit prices Regional Queensland posted a mix of results over the June quarter with some region’s recording marginal median house price growth and some posting small median house price falls.
Across the board, however, Queensland’s regional and rural areas held their ground over the period. Solid house performers included the Scenic Rim and Southern Downs local government areas.
The Scenic Rim is home to a population of more than 34,000 and covers an area of 4,250km2 an hour south of Brisbane and an hour inland from the Gold Coast. Its median house price increased 5.2 per cent to $378,750 over the quarter.
The Southern Downs median house price increased 4.5 per cent to $242,500 over the same period.
The Southern Downs encompasses an area that stretches from Cunningham's Gap – 120km south-west of Brisbane - in the east, north to Allora and Clifton, south to the border town of Wallangarra, and to Inglewood and Texas in the west.
Median land prices The more affordable vacant urban land located in the regional areas surrounding Brisbane, as well as the possibilities presented by the development of the Surat Basin Energy Province, are continuing to attract buyers with steady demand and price growth.
The Lockyer Valley, Somerset and Western Downs local government areas all posted positive price growth over the June quarter.
MOUNT ISA CITY 45 $370,000 2.8% $333,000 0.9% 146.7%
HEALY ~ g 12 $416,500 9.6% $380,000 6.3% N/A
MORNINGTON ~ 6 N/A N/A $305,000 -6.2% N/A
PARKSIDE 6 N/A N/A $310,000 3.3% N/A
SOLDIERS HILL 6 N/A N/A $333,750 3.5% N/A
SUNSET ~ 2 N/A N/A $322,500 -1.1% N/A
TOWNVIEW ~ 3 N/A N/A $327,500 -2.2% N/A
MURWEH (LGA) 6 N/A N/A $140,000 3.7% 98.6%
CHARLEVILLE ~ 5 N/A N/A $140,000 -6.7% 84.2%
Please see page 37 for legend and further notes
www.reiq.com.auIssue 7 - June Quarter 2010 page 35
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OTHER REGIONAl AREAS
HOUSES
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
NORTH BURNETT (LGA) 14 N/A N/A $160,000 0.0% 81.8%
NORTH BURNETT (LGA) ^ 4 N/A N/A $250,000 N/A 111.9%
GAYNDAH 6 N/A N/A $180,000 13.2% 63.6%
SCENIC RIM (LGA) 52 $378,750 5.2% $364,000 5.5% 40.0%
www.reiq.com.auIssue 7 - June Quarter 2010 page 36
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OTHER REGIONAl AREAS
VACANT URBAN LAND continued
3 BEDROOM HOUSES
MEDIAN WEEKLY RENTSSuburbs/Localities
Jun Qtr 2010NewBonds
Jun Qtr 2009Rent ($)
NewBonds
Rent ($)Po
stco
de
VACANT URBAN LAND continued
Suburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
MEDIAN SALES DATA MEDIAN SALES DATASuburb/ Number of Jun change 12 mths to change changeLocality Sales Jun Qtr over the end of over over Qtr 2010 2010 qtr Jun 2010 1yr 5yrs
JONES HILL * 6 $139,500 N/A $133,000 N/A N/A
SOUTHSIDE * 2 N/A N/A $122,000 -0.8% 41.9%
TIN CAN BAY 3 N/A N/A $132,500 N/A 3.5%
HINCHINBROOK (LGA) 12 N/A N/A $94,250 4.7% 47.3%
FORREST BEACH ~ 6 $100,000 -4.8% $95,000 2.7% N/A
ISAAC (LGA) G ~ 7 N/A N/A $120,000 -4.0% 281.0%
MORANBAH G ~ 5 $200,000 32.1% $120,000 -5.5% 281.0%
4800 Cannon Valley/ Conway/ Proserpine/ etc. 230 7 220 7
4802 Airlie Beach/ Cannonvale/ Whitsundays/ etc. 290 77 295 80
4805 Bowen 250 52 245 26
TABLELANDS REGIONAL COUNCIL AREA 190 78 185 65
4800 Mareeba/ Biboohra 180 30 185 31
4883 Atherton/ Upper Baron 200 33 180 20
2 BEDROOM FLATS/UNITS
HOUSES UNITS LOCAL GOVERNMENT AREA JUN QTR MAR QTR JUN QTR MAR QTR 2010 2010 2010 2010
SOUTH EAST QUEENSLAND
REGIONAL QUEENSLAND
www.reiq.com.auIssue 7 - June Quarter 2010 page 37
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GROSS RENTAl YIElDS
ExPlANATORY NOTESSALES DATAAs of the June Quarter 2010, all REIQ reports are collated approximately 5 weeks after the end of each quarter (previously run 7 weeks after). The March quarter 2010 figures are also as at 5 weeks after the end of the quarter. Due to the different sample size, comparisons between previous published quarters should be used with caution.All figures are preliminary and are subject to further revision. Only suburbs to record sufficient sales numbers have been included.N/A No preliminary estimate available due to insufficient sales numbers(LGA) Local Government AreaBrisbane (SD)– Brisbane Statistical Division which includes the shires of Brisbane City, Ipswich City, Logan City, Moreton Bay Regional and Redland City.^ Denotes acreage sales - on land size greater than 2,400m2. All other house and land sale statistics are based on land size under 2,400m2 . Unit and townhouse data includes sales of all building units and group titled properties. ~ Medians affected by varying quality of stock sold* Medians affected by varying quantities of new properties soldf Medians affected by varying numbers of waterfront properties sold+ Due to the nature of properties in this suburb, some group titled property sales have been included- Due to the nature of properties in this suburb, some group titled property sales have been omittedg Sales volumes and median affected by QLD government acquisitions in the areaG Sales volumes and median affected by QLD government sales in the area¹ Paradise Point - excludes Sovereign and Ephraim Islands sales² Median for previous quarter recalculated to take into account Brookwater group title sales³ Median sales data affected by varying numbers of sales on the bay islands compared to sales in new premium residential subdivisions. SOURCE: REIQ. Raw data made available by QLD Department of Environment and Resource Management, (QVAS), via PriceFinder and RP Data. This information has been carefully compiled and is not intended to be treated as a warranty or promise as to the correctness of the information. Interested parties should undertake independent enquiries and investigations to satisfy themselves that any details herein are true and correct. The REIQ does not allow this information to be used for advertising or marketing purposes. Enquiries about the reproduction of part or all of the information should be directed to the Marketplace Strategy Division, REIQ
PRICE POINT GRAPHS - SALES NUMBERSAll figures are preliminary based upon sales records available as at the time of reporting for each corresponding quarter and are subject to further revision. Comparisons between quarters should be used as a guide only. Data supplied by PriceFinder.
RENTAL DATAAll rental data is collated by postcode. Where no postcode is listed, insufficient new bonds were lodged in order to calculate a reliable statistic. For more information go to www.rta.qld.gov.au ^ The relatively small number of bond lodgements for properties in these areas make median rent values less reliable~ Based upon former council boundariesn.a. Not Available (the number of new bonds lodged was too small to provide a reliable estimate)N/A Historical data for the new Local Government City and Regional Council areas is not available** Historical data based upon former LGA boundaries. Comparisons between the number of bonds lodged should be used with cautionSource: Residential Tenancies Authority, Rental Bond lodgements www.rta.qld.gov.au
GROSS RENTAL YIELDS¹Based upon median weekly rent for 3-bedroom houses, source: Residential Tenancies Authority²Includes townhouses. Based upon median weekly rent for 2-bedroom flats, source: Residential Tenancies Authority
BRISBANE CITY 3.7% 3.7% 4.6% 4.7%
IPSWICH CITY 4.4% 4.5% 5.1% 4.9%
LOGAN CITY 4.6% 4.4% 4.7% 4.8%
MORETON BAY REGIONAL 4.1% 4.1% 4.1% 4.2%
REDLAND CITY 4.0% 3.9% 4.6% 4.6%
GOLD COAST CITY 4.2% 4.0% 4.8% 4.8%
SUNSHINE COAST REGIONAL 4.1% 3.9% 4.2% 4.3%
BUNDABERG REGIONAL 4.7% 4.7% 4.4% 4.0%
CAIRNS REGIONAL 4.4% 4.2% 4.6% 5.4%
FRASER COAST REGIONAL 4.3% 4.1% 3.8% 3.8%
GLADSTONE REGIONAL 4.2% 3.8% 3.5% 4.0%
GYMPIE REGIONAL 4.5% 4.6% N/A N/A
MACKAY REGIONAL 4.9% 4.8% 4.4% 4.8%
ROCKHAMPTON REGIONAL 4.7% 4.7% 4.3% 4.1%
SCENIC RIM REGIONAL 4.4% 4.5% N/A 4.3%
TOOWOOMBA REGIONAL 4.7% 4.4% 4.6% 4.4%
TOWNSVILLE CITY 4.5% 4.6% 4.6% 4.4%
WHITSUNDAY REGIONAL 5.0% 5.1% 3.9% 4.3%
www.reiq.com.auIssue 7 - June Quarter 2010 page 38
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Deposit Power is a division of, and all Deposit Power Guarantees are issued by, Vero Insurance Limited ABN 48 005 297 807.
depositpower.com.au Freecall 1800 678 979
1. Substitutes the cash deposit of up to 10% of the purchase price
2. Opens the door to more potential purchasers for your vendors
3. Available for short and long term settlements of up to 48 months,
whether sale is by private treaty or auction
4. Suitable for all types of residential property
5. Ideal for first home buyers, investors and simultaneous transactions
6. Deposit Power makes inquiries on all applicant’s ability to settle on a property
7. Gives your customer peace of mind, knowing they have a guaranteed deposit
8. A Deposit Power Guarantee is issued by Vero Insurance Limited, one of Australia’s
leading insurers
9. Deposit Power has assisted over 750,000 Australians purchase property since 1989
10. Deposit Power Guarantees are legally acceptable in all Australian Territories and States
Deposit Power is Australia’s leading provider of deposit guarantees and a very proud
supporter of the REIQ.
For details call the Deposit Power helpline: 1800 678 979 or visit www.depositpower.com.au
10 reasons why Deposit Power will get your customers moving
RESEARCH METHODOlOGY - UPDATE
Real estatetrends inQueensland’stowns & suburbsIn order to measure recent performance of the Queensland property market, Queensland Market Monitor records the median sale price by locality and by local government area (LGA) state-wide where sufficient sales numbers are recorded.
Analysts regard the median sale price, defined as “the middle sale taken from all the sales in a locality throughout a specified period” as the most representative figure. Unlike other averages, which can be skewed by very high or very low sales, the median is generally reflective of current market activity.
Quarterly sales figures are generally an indication of the latest sales activity in an area. They reflect the types of properties that have sold over a three-month period and can therefore be quite volatile. Where possible, annotations have been used to explain fluctuations in the sales data (see page 37).
To provide a more macro or historical trend view of a suburb’s and LGA’s market performance, the annual median price is also provided as are percentage changes over the last one and five years.
To ensure this data is as reflective of the overall market as possible, only suburbs that recorded a minimum of 25 sales for houses and unit/townhouses; or 20 sales for acreage and vacant land over the 12 month period are recorded.
On a quarterly basis, a minimum of 10 sales
are required for metropolitan Brisbane. In regional areas, where there are generally fewer sales compared with metropolitan volumes, suburbs with a minimum of seven house or unit/townhouse sales or a minimum of five acreage or vacant land sales in a locality are included. A suburb with fewer sales numbers is generally regarded as having a sample size too small to be truly demonstrative.
The REIQ’s research data is based on sales records of the most recent reportable quarter held by the Department of Environment and Resources Management’s Queensland Valuation and Sales database (QVAS). This data is made available to the REIQ through PriceFinder (www.pricefinder.com.au) and RP Data (www.rpdata.net.au)
As of the June quarter 2010, the REIQ will run the sales data reports two weeks earlier than previously calculated. After careful analysis, this change in methodology was implemented to improve the timeliness of the REIQ’s sales data release without jeopardising the reliabilty of the figures. Given the slightly smaller sample size, comparisons between the number of sales of previously published quarters should be made with caution.
To ensure like is compared with like the change in median sale prices compares current preliminary estimates with preliminary estimates for the previous period. A percentage change is not available where there is no preliminary estimate available.
Another point of difference with REIQ research is our use of contract date figures rather than the ‘settlement date’. In accruing quarterly results, some analysts use the date on which the property settled rather than the date that the parties signed a contract of sale. In Queensland, there could be up to 60 or 90 days between the time a contract of sale is signed (the day on which the parties legally agree on the price the property will sell for) and the day on which the property settles. The REIQ believes that collating quarterly statistics based on settlement date figures does not most accurately reflect the state of the market in any given quarterly period.
For further information on real estate data email REIQ’s research analyst, Yvette Burton [[email protected]].
Deposit Power is a division of, and all Deposit Power Guarantees are issued by, Vero Insurance Limited ABN 48 005 297 807.
depositpower.com.au Freecall 1800 678 979
1. Substitutes the cash deposit of up to 10% of the purchase price
2. Opens the door to more potential purchasers for your vendors
3. Available for short and long term settlements of up to 48 months,
whether sale is by private treaty or auction
4. Suitable for all types of residential property
5. Ideal for first home buyers, investors and simultaneous transactions
6. Deposit Power makes inquiries on all applicant’s ability to settle on a property
7. Gives your customer peace of mind, knowing they have a guaranteed deposit
8. A Deposit Power Guarantee is issued by Vero Insurance Limited, one of Australia’s
leading insurers
9. Deposit Power has assisted over 750,000 Australians purchase property since 1989
10. Deposit Power Guarantees are legally acceptable in all Australian Territories and States
Deposit Power is Australia’s leading provider of deposit guarantees and a very proud
supporter of the REIQ.
For details call the Deposit Power helpline: 1800 678 979 or visit www.depositpower.com.au
10 reasons why Deposit Power will get your customers moving
www.reiq.com.auIssue 7 - June Quarter 2010 page 40
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Queensland Market Monitor is a quarterly, electronic publication entirely focused on residential sales and rental research data for regions throughout the State, on a suburb-by-suburb basis. It meets the high standards for accurate data and reliable analysis that you have come to expect from the REIQ.
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