your state-wide property research guide suburb by suburb REIQ QUEENSLAND MARKET MONITOR ISSUE 25 DEC QTR 2014 >p2 QMM STATE-WIDE COMMENTARY Proudly supported by STRONG YEAR FOR QUEENSLAND REAL ESTATE Southeast Queensland, Toowoomba and Cairns were the State’s star real estate performers in 2014, according to fresh data released today by the Real Estate Institute of Queensland (REIQ). Meanwhile sales volumes for the state’s regional centres over the year were significantly down on the previous year, however over the last half of the year other market indicators have pointed towards stabilizing and in some cases improving sales market conditions. State-wide the volume of residential sales for 2014 hit a five-year high, with a total of $51 billion worth of residential property changing hands. While this is still well below the peak of $73 billion recorded at the last peak of the market in 2007, it is on par with that recorded at the height of the boom of the early 2000s. With actual sales numbers just over half that recorded in 2003, the volume of sales is reflective of how much property prices have grown over the past 10 years, despite the downturn in the market over the past five years.
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your state-wide property research guide suburb by suburb
REIQ
QU
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LAN
D M
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KET
MO
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OR
ISS
UE 25
DEC QTR 2014
>p2
QMM STATE-WIDE COMMENTARY
Proudly supported by
STRONG YEAR FOR QUEENSLAND REAL ESTATESoutheast Queensland, Toowoomba and Cairns were the State’s star real estate performers in 2014, according to fresh data released today by the Real Estate Institute of Queensland (REIQ).
Meanwhile sales volumes for the state’s regional centres over the year were significantly down on the previous year, however over the last half of the year other market indicators have pointed towards stabilizing and in some cases improving sales market conditions.
State-wide the volume of residential sales for 2014 hit a five-year high, with a total of $51 billion worth of residential property changing hands. While this is still well below the peak of $73 billion recorded at the last peak of the market in 2007, it is on par with that recorded at the height of the boom of the early 2000s.
With actual sales numbers just over half that recorded in 2003, the volume of sales is reflective of how much property prices have grown over the past 10 years, despite the downturn in the market over the past five years.
All figures for the most recent quarterly and yearly periods are preliminary only and subject to further revision as additional sales records become available (see Research Methodology online at reiq.com).
As of the June quarter 2013, all sales data includes "Recent Sales" as advised by real estate agents as well as official records as advised by DNRM. As such comparisons with figures published prior to the June quarter 2013 should be done with caution.
A median sale price is derived by arranging a set of sale prices from lowest to highest and then selecting the middle value within this set (ie the 50th percentile, where half of recorded sales were less and half were higher than the median).
Only suburbs and regions to record sufficient sales numbers are published.
N/ADue to insufficient sales numbers (as at the time of data extraction) no median sale price has been calculated
(LGA) Local Government Area
Brisbane (SD)
Brisbane Statistical Division which comprises the LGA’s of Brisbane City, Ipswich City, Logan City, Moreton Bay Regional and Redland City
# Figures based upon the new council boundaries
^Indicates acreage sales only (with land size greater than 2400m2). All other data is based upon sales with a land size of less than 2400 m2
~Median price changes influenced by varying quality of stock sold
*Median price changes influenced by varying quantities of new properties sold
fMedian price changes influenced by varying quantities of waterfront properties sold
tMedians affected by varying quantities of townhouses sold
GSales volumes and median affected by QLD government sales in the area eg ULDA, NRAS sales.
Y Median affected by high yielding property sales
1
Median price changes influenced by the varying volumes of sales between the Mainland and Bay Islands areas
ON THE MARKET INDICATORS
At the time of publication, latest information available was for the 12 months ending the month prior to the current period.
"Days on Market" is calculated as the average number of days it has taken to sell those properties sold by private treaty sale during the 12 month period. The calculation excludes auction listings and listings where an asking price is not advertised. The days on market calculation uses the contract date on the property compared with the first advertised date.
"Vendor Discount" is the average difference between the contract price on a property and the first advertised price. The figure is expressed as a percentage and is an average of all private treaty sales which sold for less than their initial asking price during the last 12 months. Auction listings and listings without an advertised asking price are excluded from the calculation.
"Total Listings" is the total unique number of properties that have been advertised for sale and captured by RP Data over the 12 month period. To be included in the count, the listings have to be matched to an actual address.
"% Stock on Market" is the percentage of dwellings within the suburb or local government area that have been listed for sale over the past year.
Source: REIQ, data supplied by CoreLogic RP Data (www.corelogic.com.au)
PRICE POINT GRAPHS
All data contained within these graphs represent preliminary sales numbers and are subject to revision as additional sales records become available.
The data excludes any recent sales transactions where the contract sale price was not disclosed.
The intention of these graphs is to gauge trends in sales activity between periods in lieu of actual final sales resultsSource: REIQ, data obtained from CoreLogic RPData
GROSS RENTAL YIELDS
House yields are based upon REIQ median house prices and RTA weighted median weekly rent for houses.
Unit yields are based upon REIQ median unit & townhouse prices and RTA weighted median weekly rent for units and townhouses.
VACANCY RATES
All figures are based upon all residential rentals as at the end of each quarterly period, as submitted by REIQ accredited agents.
A vacancy rate of 3 per cent is generally considered to indicate equilibrium of supply and demand within a rental market.
N/ADue to insufficient information received no vacancy rate has been calculated
Source: REIQ Residential Rental Survey
RENTAL MARKET DATA
All median weekly rents are published on a postcode basis, as calculated by the Residential Tenancies Authority, where sufficient data is available.
Caution should be exercised when interpreting any median rental price data based upon a relatively small number of new bond lodgements.
Figures for the new LGA's available for the current quarter only.
LListed localities (or suburbs) represent one of potentially several that fall within that postcode.
N.A.Due to insufficient new bond lodgements, no median rental price has been calculated
Source: Residential Tenancies Authority, Rental Bond lodgements (www.rta.qld.gov.au)
State-wide the volume of residential sales for 2014 hit a five-year high
On a regional basis however, the results remained varied, with some markets still lagging behind.
The downturn in the mining sector and the ongoing drought has continued to impact on the regional centres of Gladstone, Mackay and Rockhampton, although local agents report early signs of improvement since the start of the year.
The improving conditions in the southeast are expected to kick start growth in regional Queensland, giving a very positive outlook for the state for the year ahead.
Local REIQ agents are reporting that confidence is on the rise in key Queensland real estate markets, which augers well for the rest of the year.
HOUSE MARKET
The strengthening sales volumes were beginning to convert to increased property prices across the southeast in 2014 compared to the previous year and over the December quarter the median house price for the Brisbane City Council area broke the $600,000 mark for the first time on record.
The Gold and Sunshine Coasts were also amongst the strongest performers with both regions recording increases in their median house prices and sales volumes over the year, along with Toowoomba and Cairns.
Average days on market continue to improve for most parts of the state with the Brisbane LGA recording the highest drop, down 20 days over 2014, to 56 average days on market – which continues to make Brisbane the quickest selling region.
Average vendor discounting remained relatively stable in most parts of the state with the exception of Rockhampton, Bundaberg, Mackay and Townsville.
All major centres made little movement on the property cycle chart, except for Mackay where local agents say the bottom of the market appears to have been reached.
Further evidence that the Queensland residential property market continues to strengthen or show signs of improvement, is the proportion of house sales to make a profit.
4 QUEENSLAND MARKET MONITOR
STATE-WIDE SUMMARY
HOUSES (<2400) UNITS & TOWNHOUSES VACANT LAND (<2400)
" Figures are for the 12 months ending November 2014
UNIT MARKET
The majority of unit markets across the state saw sales volumes ease over the December quarter, except for the Fraser Coast, Bundaberg and Gladstone where sales volumes remained steady.
Over the year SEQ, along with Cairns and Toowoomba, unit sales were up significantly compared to the previous year. And while median sale prices improved over the year, some regions are yet to see prices return to that recorded five years ago.
Encouraging signs are movements in the top end of the market, which was hardest hit by the GFC. Sales numbers in the million-plus price point are beginning to improve, however such properties appear to still be somewhat price sensitive.
Toowoomba’s unit market remains strong, on the back of buoyant interstate investor activity. The influx of new developments into the market has seen the region’s annual median sale price record a strong increase compared to five years ago.
5
STATE-WIDE SUMMARY
DECEMBER QUARTER 2014
FOR FULL ON THE MARKET AND RENTAL MARKET STATISTICS BY LOCAL GOVERNMENT AREA, SEE PAGE 37-38
* change greater than 0.5 pts
^ Trend for rents over year, trend for yields are over the quarter* change greater than $20 (rents) or 0.5 pts (yields)
VACANCY RATES
LGA/REGION' AS AT 31-DEC-14 TRENDGREATER BRISBANEBRISBANE SD 2.3% UPBRISBANE CITY 2.9% UPIPSWICH CITY 2.5% UPLOGAN CITY 2.0% UPMORETON BAY 1.2% DOWNREDLAND CITY 0.8% DOWNTOURISM CENTRESGOLD COAST CITY 2.2% UPSUNSHINE COAST 1.1% STEADYFRASER COAST 1.9% DOWNCAIRNS 2.2% UPREGIONAL QLDBUNDABERG 4.4% UPGLADSTONE 4.2% DOWNMACKAY 10.3% UPROCKHAMPTON 5.2% UPTOOWOOMBA 2.3% UPTOWNSVILLE 4.7% STEADY
RENTAL TRENDS^ MEDIAN WEEKLY RENT GROSS RENTAL YIELDS
LGA 3-BED HOUSE 2-BED FLAT 3-BED TOWNHOUSE HOUSES UNITS
GREATER BRISBANEBRISBANE CITY $420 UP $400 UP $405 STEADY 3.6% STEADY 5.0% STEADYIPSWICH CITY $300 STEADY $255 UP $310 STEADY 4.9% DOWN 5.5% STEADYLOGAN CITY $340 STEADY $260 STEADY $335 UP 5.0% STEADY 5.6% STEADYMORETON BAY $340 UP $280 UP $340 UP 4.5% STEADY 4.7% UPREDLAND CITY $390 UP $340 UP $390 UP 4.2% STEADY 5.2% UPTOURISM CENTRESGOLD COAST CITY $440 UP* $370 UP $395 UP 4.4% STEADY 5.5% STEADYSUNSHINE COAST** $410 UP* $325 UP $400 UP* 4.4% STEADY 4.8% STEADYNOOSA $430 UP* $375 UP* $500 UP* 4.3% STEADY 5.2% UPFRASER COAST $285 UP $245 UP* $310 STEADY 5.2% STEADY 4.7% DOWNCAIRNS $360 UP* $280 STEADY $350 STEADY 4.8% STEADY 7.0% STEADYREGIONAL QLDBUNDABERG $285 UP $225 UP $280 DOWN* 5.4% STEADY 4.4% DOWNGLADSTONE $300 DOWN* $250 DOWN* $360 DOWN* 4.4% STEADY 5.6% UP*MACKAY $320 DOWN* $245 DOWN* $350 DOWN* 4.5% STEADY 3.5% DOWN*ROCKHAMPTON $295 DOWN* $230 DOWN* $345 DOWN* 5.2% STEADY 3.4% UPTOOWOOMBA $310 UP* $250 UP $300 DOWN* 4.6% STEADY 4.8% UPTOWNSVILLE CITY $320 DOWN* $280 STEADY $340 DOWN 4.7% STEADY 5.0% DOWN
RENTAL MARKET
Most of SEQ and the state’s tourism centers all finished the 2014 calendar year with tight rental conditions, with the vast majority having recorded a vacancy rate of less than 2.5 per cent throughout 2014.
Typically the time of year, however, vacancy rates at the end of December were up for eight of the 16 major regional centers. In line with this trend is the total number of new bonds lodged with the RTA over the December quarter, which were down six per cent compared to the September quarter.
While our regional centres are still playing catch up, with their rental markets going through slow tenant demand, Queensland metropolitan and tourism centres are still seeing tight vacancy rates prevail.
According to local agents, investors are taking advantage of the good selling conditions and putting their investment properties up for sale, with many being sold to owner-occupiers. And while there are investors also actively buying at the moment, the net effect appears to be a shortage of rental supply in some regions.
6 QUEENSLAND MARKET MONITOR
BRISBANE MARKET UPDATES HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
BRISBANE CITYOver the December quarter 2014, the Brisbane residential market finished the year on steady results for both the house and unit markets.
The prestige market was the stand out performer with an increase in the million-plus pricepoint for houses, while all other price points followed the usual December quarter trend of easing buyer demand.
Brisbane remains the fastest selling market but still runs second to Toowoomba in average vendor discounting and proportion of profit making sales rates.
Interstate investors are beginning to see more value in the Brisbane market than the southern capital cities, with strong interest in the unit and townhouse markets which in comparison are achieving nearly one per cent higher gross rental yields.
HOUSE MARKET
Brisbane’s median house price for the December quarter hit a neat $600,000 – the highest quarterly result on record. Over the year, volumes were up seven per cent, while the annual median house price recorded a strong increase of 8.4 per cent, the highest result of all major centres in Queensland.
While overall sales volumes increased three per cent over the quarter it was largely attributed to an increase in activity in the prestige market, with an extra 58 houses selling for in excess of a million dollars. This was followed by 22 extra sales in the $500,000-plus pricepoint.
According to local agents, strong results at the top end of the market are clear indications that the Brisbane property market is going from strength to strength.
Further evidence of improved property prices is the percentage of profit making sales. Of the 49 suburbs to see all sales record a profit, 25 were located within the Brisbane City Council area. Compared to a year ago, the most improved sales market was Gumdale which recorded only 67 per cent of sales to make a profit, to now seeing all vendors sell for higher than they originally paid.
UNIT MARKET
The unit and townhouse market in Brisbane saw sales activity drop over the last three months of the year, however total sales for the year were up a sturdy 16 per cent.
All pricepoints recorded a drop off in buyer activity, however, like the house market it was the prestige end that held its ground most with only 10 less sales recorded than the September quarter.
Average days on market for unit listings are beginning to rival that of the house market, with listings taking an average of 63 days to sell over the year ending November. This result was a significant improvement on the previous year, when it was taking three weeks longer for units to sell.
Average vendor discounting has also improved, up 0.7 percentage points over the year to 4.7 per cent.
And while the inner city unit market continues to steal the spotlight in terms of new unit sales, it was the outer lying suburbs of Acacia Ridge and Boondall that made the top 10 for highest increase in sales activity over the year.
New townhouse complexes in both of these suburbs have proved popular with investors, given the strong returns these properties are reportedly achieving.
RENTAL MARKET
Over the three months to December, Brisbane City and Ipswich City, were the only regions in SEQ to see vacancy levels return to healthier levels. As at the end of December, the vacancy rate was 2.9 per cent, with both the inner and outer Brisbane suburbs seeing their vacancy levels increase.
As seen over the Christmas-New Year period in 2013, inner Brisbane recorded a significant increase in its vacancy rate, up 0.9 percentage points to 3.8 per cent.
The level of supply coming onto the market is no doubt contributing to this increase, however many REIQ agents also point out that there is a general mass exodus of tenants – namely students – over the Christmas period, as well as first home buyers becoming more active in the sales market.
Meanwhile in Brisbane’s outer suburbs, vacancy rates remain tight at 2.4 percent, despite easing 0.5 percentage points since September.
The strength of the Brisbane rental market is also evident in the total number of bonds held by the RTA. State-wide total bonds had increased by 12,600 new bonds compared to 12 months ago, with 26 percent of this increase occurring within the Brisbane City council area, and predominantly for unit and townhouse rentals.
UPPER MOUNT GRAVATT ~ 21 $385,500 -25.5% $470,000 29.7% 24.7%
WAVELL HEIGHTS ~ 5 N/A N/A $435,500 15.2% -2.1%
WEST END 34 $540,000 2.1% $526,498 1.9% -4.3%
WILSTON 6 N/A N/A $428,750 N/A 10.8%
WINDSOR ~ 26 $460,000 13.6% $407,500 -9.4% 14.8%
WISHART 12 $366,450 -6.0% $375,500 4.9% 7.0%
WOOLLOONGABBA 7 N/A N/A $399,000 -0.3% -6.6%
WOOLOOWIN 7 N/A N/A $362,500 1.7% 5.6%
WYNNUM 12 $365,000 N/A $370,000 -0.3% 2.8%
WYNNUM WEST 8 N/A N/A $340,000 -9.3% 7.9%
YEERONGPILLY 7 N/A N/A $420,250 11.6% -2.8%
YERONGA ~ 14 $395,000 -26.5% $435,500 3.7% 11.1%
ZILLMERE 13 $335,000 0.0% $335,000 -6.9% -4.3%
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(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
10 QUEENSLAND MARKET MONITOR
BRISBANE MARKET UPDATES
RENTAL MARKET - 2 BED UNITS (CONT’D)POST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
RENTAL MARKET - 3 BED TOWNHOUSESPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
DID YOU KNOW?YOU CAN GET MEDIAN WEEKLY RENTS FOR OTHER PROPERTY TYPES ONLINE ATWWW.RTA.QLD.GOV.AU
BRISBANE CITY $405 1664 $405 1531
BAYSIDE $400 87 $390 91
4178 WYNNUM $400 57 $390 49
4179 MANLY $400 30 $385 42
CITY INNER $600 58 $600 56
4000 BRISBANE CITY $600 6 N.A. 2
4005 NEW FARM $750 7 $720 8
4006 BOWEN HILLS $460 6 $510 9
4064 PADDINGTON $545 10 $600 8
4066 TOOWONG $540 10 $580 11
4067 ST LUCIA $565 6 $595 7
4101 WEST END $650 6 $600 6
4169 EAST BRISBANE $630 6 N.A. 4
NORTH - INNER $480 96 $495 127
4007 ASCOT $560 12 $520 16
4011 CLAYFIELD $590 9 $580 22
4012 NUNDAH $455 17 $465 18
4030 LUTWYCHE $550 12 $500 5
4031 GORDON PARK $480 13 $445 14
4051 ALDERLEY $480 33 $490 48
NORTH - OUTER $385 204 $380 176
4013 NORTHGATE $420 8 $430 12
4017 BRACKEN RIDGE $370 54 $365 56
4018 FITZGIBBON $380 54 $360 24
4032 CHERMSIDE $445 23 $430 19
4034 ASPLEY $390 58 $390 53
4036 BALD HILLS $365 7 $350 12
NORTH WEST - INNER $520 15 N/A 14
4060 ASHGROVE $495 9 $490 7
NORTH WEST - OUTER $420 63 $420 62
4053 STAFFORD $420 52 $420 52
4054 ARANA HILLS $380 7 $365 6
SOUTH - INNER $430 135 $430 161
4103 ANNERLEY $450 23 $480 31
4104 YERONGA $440 12 $440 12
4105 MOOROOKA $440 20 $445 17
4120 GREENSLOPES $485 12 $440 17
4121 HOLLAND PARK $430 10 $440 16
4122 MANSFIELD $420 58 $420 68
SOUTH - OUTER $390 426 $390 334
4107 SALISBURY $370 8 $480 5
4109 MACGREGOR $405 56 $400 59
4110 ACACIA RIDGE $340 31 $350 5
4112 KURABY $380 32 $370 13
4113 EIGHT MILE PLAINS $400 155 $400 139
4115 ALGESTER $370 41 $375 38
4116 CALAMVALE $385 101 $380 73
SOUTH EAST - INNER $480 245 $485 189
4151 COORPAROO $500 9 $490 14
4152 CAMP HILL $450 104 $450 90
4170 CANNON HILL $490 92 $490 52
4171 BALMORAL $585 32 $575 23
4172 MURARRIE $520 8 $520 10
SOUTH EAST - OUTER $405 64 $405 63
4153 BELMONT $425 7 $430 6
4154 GUMDALE $405 40 $410 41
4173 TINGALPA $385 14 $380 16
SOUTH WEST - INNER $460 76 $410 71
4068 CHELMER $520 30 $510 14
4075 CORINDA $400 46 $400 57
SOUTH WEST - OUTER $365 195 $355 187
4073 SEVENTEEN MILE ROCKS $440 12 $410 17
4074 JINDALEE $390 12 $400 20
4076 DARRA $375 33 $350 5
4077 DOOLANDELLA $360 110 $340 118
4078 FOREST LAKE $345 22 $355 24
NORTH WEST - INNER $440 177 $400 176
4059 KELVIN GROVE $450 113 $420 111
4060 ASHGROVE $450 55 $390 57
4065 BARDON $310 9 $305 8
NORTH WEST - OUTER $370 83 $385 83
4053 STAFFORD $370 83 $385 83
SOUTH - INNER $350 395 $350 372
4103 ANNERLEY $340 104 $350 85
4104 YERONGA $340 34 $340 30
4105 MOOROOKA $350 58 $330 67
4120 GREENSLOPES $350 89 $350 90
4121 HOLLAND PARK $350 19 $325 43
4122 MANSFIELD $395 87 $385 57
SOUTH - OUTER $355 41 $308 53
4108 COOPERS PLAINS $350 7 $320 5
4109 MACGREGOR $380 15 $325 19
4113 EIGHT MILE PLAINS $435 8 $430 5
4115 ALGESTER $350 5 $285 5
SOUTH EAST - INNER $370 382 $375 368
4151 COORPAROO $350 147 $350 155
4152 CAMP HILL $380 53 $360 40
4170 CANNON HILL $380 88 $390 86
4171 BALMORAL $430 92 $425 85
SOUTH WEST - INNER $380 261 $375 202
4068 CHELMER $380 218 $380 159
4075 CORINDA $345 43 $330 43
SOUTH WEST - OUTER $320 15 $330 21
4078 FOREST LAKE $330 9 $325 12
Interstate investors are beginning to see more value in the Brisbane market
11 DECEMBER QUARTER 2014
BRISBANE MARKET UPDATES
GREATER BRISBANE
Residential property markets in Greater Brisbane continue to strengthen, with the median house price for the Brisbane statistical division recording an increase of 5.5 per cent over the year and an increase of 10 per cent in sales volumes.
Typically a quieter time of year, house sales volumes were down across the surrounding council areas except for Redland council which saw an increase in house sales numbers of six per cent over the December quarter. All regions, however, had strong sales growth over the year.
Despite a drop off in volumes over the quarter, the unit and townhouse markets also continue to see improving market conditions with a number of new developments selling well to interstate investors attracted by the relative affordability and strong gross rental yields being acheived in the region.
HOUSE MARKET
Over the December quarter all council areas recorded continued growth in median house prices, with Ipswich recording the strongest growth of 6.7 per cent on the back of strong sales at the upper end of the market.
According to local agents the Ipswich market is now seeing sustainable growth in sales and price increases. The outlook remains very positive and agents are expecting strong price growth over the next five to seven years. Infrastructure upgrades along with new housing developments are paving the way for improved lifestyle for local residents.
Logan also performed strongly over the year with sales activity up 20 per cent, followed by Moreton Bay Regional which was up 13 per cent over the period.
Both regions recorded increases to their median house price of 3.3 and 3.5 per cent respectively over the 2014 calender year.
The Kippa-ring rail extension is reportedly progressing ahead of schedule and attracting buyers to the area according to local agents. Investors are said to be looking at proximity to the rail line have buoyed buying activity in both houses and units in Kippa-Ring Kallangur and surrounding areas.
Overall, however, Redland was the star performer with an increase in buyer activity over the December quarter and year. It’s annual median house price also recorded the strongest result up 4.1 and 4.4 per cent compared to one and five years ago.
Redland City and Moreton Bay also posted the greatest improvement in average days on market for the Greater Brisbane region, down 17 and 16 days respectively.
Meanwhile, Redland recorded the greatest improvement in average vendor discounting for the region, improving by 3.9 percentage points.
UNIT MARKET
Greater Brisbane’s outer-suburban unit and townhouse market is going ahead in leaps and bounds, amid increasing sales volumes and growing buyer confidence.
New townhouse and medium-rise unit developments are proving popular with investors, particularly those from interstate who are being attracted by the relative affordability and also the good rental returns for units and townhouses.
The suburb of Kingston in Logan recorded the highest increase in unit sales over the year for the surrounding council areas, thanks to strong buyer activity in both the established and new unit market. Investors were particularly drawn to a new large townhouse and unit complex located on Juers Street.
In Ipswich the suburbs of Goodna and Bandamba also saw strong investor activity in new townhouse complexes. With prices under $350,000 and asking rents around $320 per week, such complexes provide investors great value for money and ongoing rental return.
In the Moreton Bay area, the rail extension saw increased buyer activity in the suburbs of Kallangur and Scarborough as well as the ever popular North Lakes.
RENTAL MARKET
At the end of December 2014, the surrounding Brisbane council areas all remained in tight conditions, with the exception of Ipswich City, which saw its vacancy rate increase 0.9 per cent to 2.5 per cent – nudging back into the healthy zone.
Although conditions remain tight, Logan did record a slight easing in vacancies over the period. Moreton Bay and Redland City saw vacancies tighten further, down 0.6 and one per cent respectively.
In Moreton Bay, the vacancy rate was down to 1.2 per cent, the lowest the region has seen in a number of years and Redland City now boasts near full capacity with a vacancy rate of an historical low of 0.8 per cent.
Median weekly rents, according to the RTA, remained relatively stable across the Greater Brisbane areas.
NORTH LAKES * 20 $248,950 N/A $240,280 10.4% 20.7%
WARNER * 29 $230,900 4.0% $231,700 3.0% 0.7%
REDLAND (LGA) ~ f B 90 $35,000 -31.4% $242,500 86.5% -0.6%
BIRKDALE * 9 N/A N/A $309,000 N/A 4.1%
CLEVELAND 2 N/A N/A $312,500 -2.3% 0.8%
MACLEAY ISLAND ~ f 25 $30,000 -10.4% $32,000 28.0% -41.8%
MOUNT COTTON - N/A N/A $262,000 4.8% 6.9%
REDLAND BAY 3 N/A N/A $270,000 2.3% 3.8%
RUSSELL ISLAND ~ f 35 $19,000 -5.0% $19,000 -5.0% -52.5%
THORNLANDS 6 N/A N/A $285,000 2.2% 14.2%
SURROUNDS
LOCKYER VALLEY (LGA) 18 $100,000 0.0% $100,000 1.0% -15.3%
LOCKYER VALLEY (LGA) ^ 14 N/A N/A $129,750 11.4% -2.8%
LAIDLEY NORTH * 16 $100,000 0.0% $100,000 0.0% N/A
WITHCOTT ^ 2 N/A N/A $148,000 1.4% 7.6%
SCENIC RIM (LGA) 7 N/A N/A $179,250 -0.1% -5.2%
SCENIC RIM (LGA) ^ 3 N/A N/A $230,000 17.9% 36.9%
GLENEAGLE 2 N/A N/A $179,000 -0.3% 4.1%
SOMERSET (LGA) 8 N/A N/A $139,500 3.3% 8.1%
FERNVALE 5 N/A N/A $145,000 7.4% 9.8%
15 DECEMBER QUARTER 2014
BRISBANE MARKET UPDATES
RENTAL MARKET - 3 BED HOUSES (CONT’D)POST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
RENTAL MARKET - 2 BED UNITS
RENTAL MARKET - 2 BED UNITS (CONT’D)POST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
4509 MANGO HILL $380 90 $380 67
4510 BALINGOOL $290 164 $285 171
4511 GODWIN BEACH $325 13 $310 37
4514 BELLTHORPE $300 19 $325 21
4520 ARMSTRONG CREEK $450 12 $380 11
4521 CAMPBELLS POCKET $310 5 $375 11
REDLAND CITY $390 316 $380 332
4157 CAPALABA $395 39 $380 32
4158 THORNESIDE $360 6 $370 9
4159 AQUATIC PARADISE $415 28 $400 23
4160 EROBIN $415 29 $410 29
4161 ALEXANDRA HILLS $395 40 $395 41
4163 CLEVELAND $415 31 $390 31
4164 PINKLANDS $440 19 $420 23
4165 MOUNT COTTON $395 56 $390 64
4184 COOCHIEMUDLO ISLAND $250 65 $230 76
LOCKYER VALLEY REGIONAL $290 87 $270 110
4341 BLENHEIM $280 46 $260 44
4342 CROWLEY VALE $295 7 $270 18
4343 ADARE $290 30 $285 36
SCENIC RIM REGIONAL $300 110 $295 127
4270 TAMBORINE $450 6 N.A. 1
4271 EAGLE HEIGHTS $365 8 $390 11
4272 MOUNT TAMBORINE $370 20 $375 16
4285 ALLENVIEW $300 42 $290 42
4307 COLEYVILLE $280 6 $260 10
4309 ARATULA $250 6 $260 9
4310 ALLANDALE $270 17 $265 25
SOMERSET REGIONAL $265 63 $270 57
4311 ATKINSONS DAM $275 30 $280 23
4312 BRYDEN $225 12 $235 7
4515 GLENFERN $285 17 $320 17
IPSWICH CITY $255 140 $250 129
4300 AUGUSTINE HEIGHTS $260 28 $260 31
4301 COLLINGWOOD PARK $265 17 $250 23
4304 BLACKSTONE $260 35 $245 21
4305 BASIN POCKET $250 54 $250 53
4306 AMBERLEY $230 6 N.A. 1
LOGAN CITY $260 188 $260 191
4114 KINGSTON $250 75 $265 73
4127 CHATSWOOD HILLS $300 15 $295 16
4128 KIMBERLEY PARK $280 7 $285 6
4131 LOGANLEA $265 6 N.A. 4
4133 CHAMBERS FLAT $260 8 $239 12
4207 ALBERTON $260 58 $250 67
4280 JIMBOOMBA $270 5 $245 5
MORETON BAY REGIONAL $280 479 $275 442
4019 CLONTARF $265 80 $275 77
4020 NEWPORT $300 100 $295 78
4021 KIPPA-RING $270 7 $265 8
4500 BRAY PARK $290 28 $290 34
4501 LAWNTON $275 14 $270 19
4503 DAKABIN $280 42 $280 37
4505 BURPENGARY $270 9 N.A. 2
4506 MOORINA $260 17 $265 12
4507 BANKSIA BEACH $260 49 $270 50
4508 DECEPTION BAY $295 15 $270 15
4509 MANGO HILL $300 20 $310 21
4510 BALINGOOL $260 88 $250 79
REDLAND CITY $340 58 $330 88
4157 CAPALABA $330 9 $330 17
4161 ALEXANDRA HILLS $360 5 $160 5
4163 CLEVELAND $375 27 $400 36
4165 MOUNT COTTON $290 5 $143 6
LOCKYER VALLEY REGIONAL N/A 13 $220 24
4343 ADARE $240 11 $220 20
IPSWICH CITY $310 144 $310 121
4300 AUGUSTINE HEIGHTS $330 37 $320 54
4301 COLLINGWOOD PARK $310 32 $300 19
4304 BLACKSTONE $305 46 $305 15
4305 BASIN POCKET $300 28 $305 31
LOGAN CITY $335 381 $330 425
4114 KINGSTON $325 32 $320 56
4118 BROWNS PLAINS $350 60 $350 58
4119 UNDERWOOD $400 14 $335 32
4123 PRIESTS GULLY $325 11 $335 10
4124 BORONIA HEIGHTS $345 6 N.A. 3
4127 CHATSWOOD HILLS $315 27 $330 36
4128 KIMBERLEY PARK $330 8 $345 13
4130 CARBROOK $370 5 N.A. 3
4131 LOGANLEA $341 22 $350 22
4132 CRESTMEAD $340 68 $340 53
4133 CHAMBERS FLAT $310 19 $310 19
4205 BETHANIA $272 16 N.A. 1
4207 ALBERTON $320 92 $320 117
MORETON BAY REGIONAL $340 594 $335 530
4019 CLONTARF $350 12 $350 11
4020 NEWPORT $370 13 $380 11
4021 KIPPA-RING $335 46 $335 42
4035 ALBANY CREEK $380 22 $380 17
4500 BRAY PARK $350 73 $335 54
4501 LAWNTON $310 7 $340 11
4502 FRENCHS FOREST $345 29 $320 16
4503 DAKABIN $340 160 $340 132
4504 NARANGBA $345 9 $340 11
4505 BURPENGARY $300 19 $310 32
4506 MOORINA $310 13 $300 29
4507 BANKSIA BEACH $320 6 $315 11
4508 DECEPTION BAY $310 50 $310 40
4509 MANGO HILL $355 109 $350 77
4510 BALINGOOL $285 16 $295 27
REDLAND CITY $390 99 $385 83
4157 CAPALABA $344 11 $350 6
4158 THORNESIDE $375 9 $380 10
4159 AQUATIC PARADISE $420 7 N.A. 3
4160 EROBIN $380 13 $395 13
4163 CLEVELAND $400 36 $385 34
4165 MOUNT COTTON $395 18 $390 14
LOCKYER VALLEY REGIONAL N/A 6 N/A 4
4343 ADARE $275 5 N.A. 4
SCENIC RIM REGIONAL N/A 5 N/A 9
4285 ALLENVIEW $300 5 $280 9
RENTAL MARKET - 3 BED TOWNHOUSES
SCENIC RIM REGIONAL $220 30 $220 37
4272 MOUNT TAMBORINE $290 5 N.A. 2
4285 ALLENVIEW $210 21 $210 32
16 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
GOLD COAST
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
The Gold Coast’s residential real estate market is performing strongly in all key sectors, as confidence builds heading into 2015. There’s a strong sense of optimism that the tourist capital has shrugged off any lingering effects from the GFC and is now firmly on a path to further growth.
The city’s improving tourism market, along with a string of important infrastructure projects and construction associated with the 2018 Commonwealth Game are all helping to generate economic momentum on the glitter strip.
Median sale prices for houses, acreage and units and townhouses all rose in the December quarter, with a range of other key indicators revealing a healthy market outlook.
The percentage of profit making sales continued its impressive rise, up to 88 per cent in the December quarter from 75 per cent a year earlier.
Average days on market remained steady at 72 days in the December quarter, compared to 88 days 12 months earlier.
Average vendor discounting also remained relatively steady, currently sitting at 6.1 per cent in the three months to December, compared to 10.7 per cent in December 2013.
HOUSE MARKET
Gold Coast house sales rose an impressive seven percent in the three months to December. The median price hit $520,000, representing a 5.1 per cent increase on the previous quarter.
There was a very healthy rise in prestige sales, with 117 transactions recorded in the $1 million-plus price bracket. $500,000-plus sales also rose strongly, with 629 transactions in the December quarter – up from 516 the previous quarter.
There were fewer sales in the sub-$500,000 price points, however local agents are optimistic this sector of the market will strengthen heading further into 2015.
Acreage sales on the Gold Coast fell slightly in the three months to December, however they were up two per cent compared to 12 months earlier. On a volume of 127 sales, the median acreage sale price rose 3.3 per cent to $702,500 in the December quarter.
Local agents believe there are better times ahead for both the house and acreage markets as the Gold Coast economy continues to gather momentum and the looming Commonwealth Games increases the city’s international profile.
UNIT MARKET
The Gold Coast unit and townhouse market recorded a six per cent decrease in sale volumes in the three months to September, driven by seasonal factors. However, unit and townhouse sales were up a healthy 20 per cent compared to 12 months earlier.
The median unit and townhouse price rose 2.9 per cent to $350,000 in the three months to December on a volume of 1,577 transactions. Most of the unit and townhouse sales activity occurred at the lower-to-middle end of the market, albeit with lower volumes compared to the previous quarter.
While transactions decreased in the sub-$500,000 price point, sales volumes were up at the higher end of the market. There were 280 transactions at the $500,000-plus price point, a slight rise from the previous quarter. Meanwhile, $1 million-plus unit and townhouse sales increased from 59 in the September quarter to 65 in the three months to December.
Investors remain active in the apartment/unit market amid growing confidence 2015 is set to deliver buyers strong prospects for further growth.
RENTAL MARKET
REIQ-accredited agents on the Gold Coast say rental listings are being snapped up very quickly, with a number reporting an average of less than a week to re-let.
There is also a proportion of investment properties being sold which is also contributing to the tight vacancy rates, which have remained below 2.5 per cent since June 2013.
The residential rental vacancy rate on the Gold Coast edged up slightly to 2.2 per cent at the end of December.
... the Gold Coast economy continues to gather momentum
19
REGIONAL MARKET UPDATES
DECEMBER QUARTER 2014
TOOWOOMBAHOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data. LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
Typical of the quieter time of year, sales activity in Toowoomba eased in the three months to December, although sales were up compared to 12 months earlier. Local agents had anticipated the easing due to a combination of seasonal factors and the drop off in growth of the local mining sector centred in the Surat Basin.
Despite the easing in sales activity, median sale prices continued on their upward trajectory in a sign that confidence in the local real estate market remains strong.
However, there is still a strong pipeline of development activity in the Toowoomba region which is expected to a deliver the local economy a soft landing as it moves out of the resources construction phase.
Major developments currently underway include the CBD ring road, Grand Central project and the much-anticipated Second Range Crossing due to begin in 2015.
The new Wellcamp Airport is also expected to yield rural produce exporting opportunities in a further boost to the regional economy. All in all, local agents expect the Toowoomba economy to remain robust in 2015.
HOUSE MARKET
In the three months to December, preliminary house sales numbers in Toowoomba remained steady. Despite this flatlining sales activity, the median house price was up 3.1 per cent. Over the calendar year to September, Toowoomba’s median house price was up 6.3 per cent and an impressive 21.5 per cent compared to five years ago.
Sales activity was up predominantly in the $500,000-plus price bracket, with transactions down across the board below this price point. Local agents report there were fewer listings in the December quarter, generating strong competition for properties.
However, prestige properties in the $1 million-plus price bracket are reportedly coming on to the market in greater numbers as owners test the strength of buyer sentiment.
Profit-making sales were at a very healthy 97 per cent in Toowoomba in the December quarter, with average days on market relatively steady at 63 during that period. Average vendor discounting also remained steady at 4.5 per cent.
UNIT MARKET
Toowoomba’s unit and townhouse market was affected by a widely anticipated seasonal downturn, with preliminary sales numbers down 32 per cent. However, over the 12 months to December sales volumes were up a healthy 23 per cent. Local agents attribute the drop in quarterly sales to the resources sector downturn.
It had been anticipated that the number of new unit and townhouse developments coming onto the market would result in oversupply, however the median sale price over the quarter did not reflect the drop off in sales activity. The median sale price for the December quarter was down 3.7 per cent, well in line with what local agents had been anticipating.
There were decreases in sales activity across all price points, with units in the $250,000 to $350,000 price bracket recording the most transactions.
The sub-$250,000 price point recorded the second highest number of sales, contributing to the downward pressure on the median sale price.
RENTAL MARKET
In regional Queensland a slow mining sector and continued drought sees all but Toowoomba finish the year with vacancy rates above the 3.5 per cent mark.
Toowoomba continues to see tight rental conditions, however increased investor activity in the region has finally converted to an increase in vacancy levels. At the end of December the city’s vacancy rate was 2.3 per cent, up 0.7 per cent on three months earlier.
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
Sunshine Coast residential real estate continues to gather strength, with a rebounding economy fuelling confidence the local property market. The tourist centre recorded an impressive double digit increase in house sales in the three months to December, with local agents reporting this momentum has already carried over into 2015.
With the regional economy starting to fire on all cylinders thanks to major infrastructure projects such as the new Sunshine Coast University Hospital and Maroochydore CBD project, the area seems destined for further population growth and consequent demand for real estate.
Local agents are reporting strong and growing demand in all three categories – houses, units and townhouses and acreage. This demand is being driven in part by returning tradespeople who are taking up employment opportunities in the local construction sector. However, investors and those attracted to the Sunshine Coast’s enviable lifestyle along are also driving this interest.
HOUSE MARKET
The Sunshine Coast was one of Queensland’s star performers in the December quarter, with house sales up an impressive 14 per cent. The median sale price rose 1.8 per cent in the three months to December, driven by increases across all price points.
REIQ data confirms the $500,000-plus price point recorded the strongest increase in sales, with very strong activity in the $350,000-plus sector also. Local agents report the prestige end of the market is also performing strongly on the back of rising confidence, with the sub-$350,000 price bracket also attracting much buyer interest.
While the Sunshine Coast recorded a 13 per cent drop in acreage sales in the three months to December, transactions are reportedly again on the rise.
House sales were down 11 per cent in Noosa in the December quarter, however the median sale price held relatively steady. Noosa median acreage sale prices rose a solid 7.8 per cent in the three months to December.
UNIT MARKET
The Sunshine Coast outperformed Noosa in the unit and townhouse market, with sales holding steady in the three months to December. During the same period, the Sunshine Coast median unit and townhouse sale price rose two per cent.
Meanwhile in Noosa, sales were down 16 per cent in the three months to December, with median unit and townhouse sale prices falling 5.1 per cent.
Local agents say owner-occupiers are competing aggressively against investors for unit and townhouse stock, and are often prepared to pay a premium to secure a property. New construction is also gathering pace, centred around perennially popular beachside locations such as Alexandra Headland and Mooloolaba.
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
Across the Sunshine Coast region, including Noosa, sales activity was up across most price points, with the affordable end of the market performing continuing to perform well. Unit sale volumes were strongest in the $250,000-plus price bracket.
RENTAL MARKET
The Sunshine Coast and Noosa recorded a very tight 1.1 per cent vacancy rate at the end of December. Suburbs on the Caloundra coast saw vacancies drop further to 0.6 per cent, while Maroochy suburbs remained relatively steady. In the Sunshine Coast hinterland, vacancies eased 1.1 percentage points, but still remaining below 2 per cent.
In response to the continued tight conditions, median weekly rents were up across all rental types on the Sunshine Coast, with the largest increase recorded for three bedroom townhouses which were up $30 over the quarter to $400 per week.
According to local agents, rental stock remains low and is being further compounded by investors selling their properties to owner-occupiers or in some instances moving into their properties. Some say rental listings are taking less than a week on the market with six to 10 applicants per listing.
NOOSAVILLE ~ f 31 $640,500 -12.6% $675,000 -5.9% -12.9%
PEREGIAN BEACH ~ f 16 $666,000 17.4% $600,000 -2.4% 5.7%
POMONA ^ 3 N/A N/A $499,000 11.0% -2.2%
SUNRISE BEACH ~ f 13 $512,000 -18.1% $605,000 2.5% -0.6%
SUNSHINE BEACH 6 N/A N/A $1,005,000 3.1% 18.9%
TEWANTIN 40 $445,000 -1.1% $445,000 7.2% 3.5%
23
REGIONAL MARKET UPDATES
DECEMBER QUARTER 2014
RENTAL MARKET - 3 BED TOWNHOUSES
FRASER COAST
RENTAL MARKET - 3 BED HOUSESPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
RENTAL MARKET - 2 BED UNITSPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
The Fraser Coast saw a solid increase in sales volumes in the three months to December in a further sign that the local market is in recovery phase. While the median sale price recorded a slight drop, average vendor discounting remained relatively unchanged. Average days on market were unchanged compared to three months earlier, with local agents characterising it as a “steady” market.
With relatively high unemployment persisting, there are hopes that the local economy will continue to improve on the back of new developments including the new hospital and Stockland shopping centre expansion.
According to local agents, buyer confidence is on the rise and vendors are becoming more realistic and more willing to meet the market. Meanwhile a local council incentive scheme offering $12,000 cashback to new home buyers in Hervey Bay is fuelling hopes of an increase in sales activity.
HOUSE MARKET
The Fraser Coast house market recorded a solid increase in sales activity in the three months to December. Preliminary sales were up a healthy 12 per cent on the previous quarter, with local agents reporting 4-bedroom, 2-bathroom properties are in strong demand. REIQ data shows most transactions are occurring in the sub-$350,000 price bracket, with sales up on the previous quarter.
The $350,000-$500,000 price point also saw a steady rise in activity, with local agents confirming strong demand from buyers in this category. Demand for lower-priced properties remains strongest, with affordable house and land packages also attracting good buyer interest.
Despite rising sales volumes over the December quarter, the Fraser Coast’s median house price fell slightly, by 0.5 per cent. This was largely a result of the high number of transactions at the sub-$350,000 price point.
Average days on market for house sales remained steady in the December quarter, at 108 days. Meanwhile, average vendor discounting was relatively unchanged at 7.9 per cent over the period.
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
SUNSHINE COAST REGIONAL (NEW) $410 742 $380 740
4518 GLASS HOUSE MOUNTAINS $355 11 $350 12
4519 BEERWAH $350 26 $340 21
4550 LANDSBOROUGH $340 17 $330 10
4551 AROONA $410 151 $380 127
4552 BALD KNOB $360 23 $360 30
4553 PALMVIEW $370 8 $370 12
4555 CHEVALLUM $380 8 $365 12
4556 BUDERIM $440 75 $400 86
4557 MOOLOOLABA $450 44 $420 47
4558 MAROOCHYDORE $440 44 $380 47
4559 DIDDILLIBAH $400 10 $370 8
4560 BLI BLI $370 76 $350 96
4561 BRIDGES $370 11 $375 12
4562 BELLI PARK $420 14 $425 13
4564 MARCOOLA $390 37 $400 23
4572 ALEXANDRA HEADLAND $440 9 $400 5
4573 COOLUM BEACH $440 76 $420 83
4575 BIRTINYA $430 99 $410 92
NOOSA SHIRE $430 135 $400 141
4565 BOREEN $400 47 $390 38
4566 NOOSAVILLE $430 16 $420 17
4567 CASTAWAYS BEACH $500 49 $450 45
4563 BLACK MOUNTAIN $350 8 $395 11
4568 FEDERAL $390 10 $350 15
SUNSHINE COAST REGIONAL (NEW) $400 310 $365 200
4519 BEERWAH $295 8 $310 5
4551 AROONA $390 30 $370 29
4556 BUDERIM $400 87 $365 40
4557 MOOLOOLABA $410 80 $410 21
4558 MAROOCHYDORE $360 34 $360 44
4560 BLI BLI $350 16 $350 15
4564 MARCOOLA $410 19 $370 16
4573 COOLUM BEACH $440 24 $375 12
4575 BIRTINYA $400 9 $385 10
NOOSA SHIRE $500 21 $400 23
4566 NOOSAVILLE $550 7 $400 9
4567 CASTAWAYS BEACH $500 14 $430 10
SUNSHINE COAST REGIONAL (NEW) $325 837 $312 860
4551 AROONA $315 155 $310 159
4556 BUDERIM $320 43 $320 40
4557 MOOLOOLABA $320 96 $300 102
4558 MAROOCHYDORE $340 184 $320 188
4559 DIDDILLIBAH $280 7 $260 12
4560 BLI BLI $250 37 $240 44
4564 MARCOOLA $320 63 $300 52
4572 ALEXANDRA HEADLAND $360 56 $330 51
4573 COOLUM BEACH $340 68 $330 82
4575 BIRTINYA $380 112 $360 116
NOOSA SHIRE $375 92 $340 121
4566 NOOSAVILLE $350 30 $330 35
4567 CASTAWAYS BEACH $380 57 $360 68
24 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
FRASER COAST CONTINUED
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
SALES MARKET - HOUSES
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
SALES MARKET - VACANT LAND
SALES MARKET - UNITS & TOWNHOUSES
UNIT MARKET
In another sign of a recovering market, unit sales on the Fraser Coast rose eight per cent up in the three months to December. The median sale price was also up an impressive 12.5 per cent over the quarter, on the back of an rise in transactions in the $250,000-plus price point
Sales in the sub-$250,000 bracket were down slightly in the December quarter, contributing to the increased median sale price during this period.
RENTAL MARKET
The Fraser Coast enjoyed low vacancy rates at the end of December, down marginally to 1.9 per cent from the end of September. Hervey Bay in particular continues to exhibit tight conditions, with its vacancy rate dropping further to 1.6 per cent over the three months to December, while Maryborough remained relatively steady at 2.3 per cent.
Local agents say with the sales market yet to take off, the rental market is remaining in strong demand, resulting in relatively tight conditions. Investor activity is reportedly low, despite the improving vacancy levels, although there are hopes that low interest rates will generate more interest from interstate investors.
Despite languid market indicators over the 2014 calender year, local real estate agents say the Bundaberg residential property market is poised for recovery.
A number of key infrastructure and commercial developments earmarked for the region are set to provide a much needed boost for local jobs which will in turn improve overall confidence.
New developments include the announcement of a Giprock factory at the port, gas pipeline and sewerage plant projects to support local industry developments. Meanwhile the new Masters and Bunnings stores are set to provide further local jobs.
According to local agents, investors are beginning to see value in the Bundaberg market and have been showing interest in the unit and townhouse market.
The low interest rates and the local economy picking up some momentum on the back of improved job opportunities are now likely to have a positive impact on the local residential market for the year ahead.
HOUSE MARKET
Despite easing sales volumes over the quarter and year, median house prices have held relatively steady, up 2.2 per cent over the quarter and up 0.5 per cent over the year
Since Christmas however, local agents say buyer activity has picked up, despite a pause over the election period.
Local agents also say first home buyers are likely to begin to return to the Bundaberg market, given the regions relative affordability. With a median house price of under $280,000 Bundaberg is the most affordable major regional centre.
Further indication that the house market is improving is the pick up in sales at the prestige end of the market. Over the quarter nine properties exchanged hands in the $500,000-plus bracket, compared to just five during the previous quarter.
The percentage of properties selling for a profit has also improved slightly, with 82 per cent of vendors in Bundaberg achieving a sale price higher than what they originally paid.
UNIT MARKET
Investors are said to be coming into the Bundaberg market, seeing great value for money - particularly in the unit and townhouse market.
According to local agents, improving rental yields are once again attracting investors to the region. And with rental returns becoming better in comparison to investments in the share market, investors returning to the property sector typically target the unit and townhouse market.
Due to some high end unit sales, the region’s median sale price jump 12.8 per cent over the quarter and its annual median was also up 10.6 per cent.
This increase in upper end activity was recorded in both the $350,000-plus and the $500,000-plus bracket over the quarter.
RENTAL MARKET
Bundaberg, after signs of a recovery in September, saw its vacancy rate increase to 4.4 per cent over the last three months of the year, sending it also back into weak market conditions. According to local agents, this trend is typical for the time of year, with many tenants moving around in search of work.
Increases in asking rents are also reportedly causing tenants to look elsewhere, although median weekly rents from the RTA are yet to reflect this change.
FRASER COAST REGIONAL $285 312 $275 348
4650 ALDERSHOT $260 133 $254 128
4655 BOORAL $310 169 $285 201
4659 BEELBI CREEK $250 10 $260 12
GYMPIE REGIONAL $265 156 $260 188
4570 AMAMOOR $260 117 $255 141
4580 COOLOOLA $280 26 $265 30
4581 EURONG $300 7 $280 10
SOUTH BURNETT REGIONAL $235 117 $230 148
4605 BARLIL $200 22 $200 27
4606 CHARLESTOWN $220 11 $215 13
4610 ALICE CREEK $250 60 $250 71
4615 BARKER CREEK FLAT $235 17 $220 29
FRASER COAST REGIONAL $245 137 $220 156
4650 ALDERSHOT $190 44 $185 51
4655 BOORAL $260 93 $240 101
GYMPIE REGIONAL $200 47 $200 63
4570 AMAMOOR $200 36 $200 41
4581 EURONG $260 8 $200 15
SOUTH BURNETT REGIONAL $195 50 $195 47
4610 ALICE CREEK $200 40 $200 36
4615 BARKER CREEK FLAT $150 6 N.A. 4
FRASER COAST REGIONAL $310 47 $310 63
4655 BOORAL $310 47 $310 61
GYMPIE REGIONAL $290 11 $300 13
4580 COOLOOLA $290 5 $285 5
26 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
RENTAL MARKET - 3 BED TOWNHOUSES
SALES MARKET - VACANT LAND
SALES MARKET - UNITS & TOWNHOUSES
RENTAL MARKET - 2 BED UNITS
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
...the Bundaberg residential property market is poised for recovery.
27
REGIONAL MARKET UPDATES
DECEMBER QUARTER 2014
GLADSTONE
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
Similar to other major regional centres, the Gladstone residential market saw an easing in sales volume over the December quarter in both house and unit sales.
According to local agents, the worst stage of the cycle is now over for Gladstone with all market indicators pointing to stabilising conditions. Property price corrections seen in recent times are said to have presented local and interstate buyers with great buying opportunities.
Despite the easing property market conditions, the overall outlook for the region remains very positive, amid talks of plans to extend the existing LNG facilities in 2017. The Wicet project at Wiggins Island is also said to provide a significant boost for the region in the years ahead, which will not only service the coal export industry but also help diversify the Gladstone port capabilities.
Local agents however do feel that the recovery phase will likely take a number of years. Construction on Curtis Island is now reportedly winding down, however with a predominant FIFO employee base and camp base for employees on site, this will likely have little if any impact on the Gladstone residential market.
HOUSE MARKET
The vast majority of the Gladstone property market is now said to be undervalued, given the current state of the market and this is bringing Gladstone back on the radar of investors as well as local home buyers.
First home buyers in particular are said to be jumping on the affordable home prices, while other owner-occupiers are looking to the prestige market for good value.
The prestige auction market is said to be picking up momentum – with reports of up to 20 groups going through open homes for upcoming auctions.
Given the revival in investor and first home buyer activity, local agents say properties priced under $400,000 are moving quickest. REIQ sales analysis confirms this with an increase in house sales numbers in the sub-$350,000 price point, with a slight increase in volumes over the quarter, while the other price points recorded a drop in activity.
The drop in the median sale prices is said to be impacted by mortgagee in possession sales still occurring. However, even in those instances some banks are holding off from selling in anticipation of improving market conditions.
UNIT MARKET
With the oversupply of new developments still being absorbed, the unit market continues to see a correction in prices. As such the median unit sale price over the December quarter saw a strong drop of 36.9 per cent. This was also largely influenced by drop in higher end townhouse sales.
Sales, volumes, however had picked up over the quarter, with investors reportedly returning to the Gladstone market seeing value at current sale prices and improving rental conditions.
RENTAL MARKET
Vacancy rates are beginning to tighten and days on market for rental listings are coming down. This in turn is underpinning improved confidence in the sales market, as investors once again see value in the Gladstone market.
Gladstone’s rental market likewise continues to see softening rents, however vacancy levels have shown some signs of improvement. At the end of December the vacancy rate was down 0.5 percentage points to 4.2 per cent. Not only the second consecutive drop but now also the lowest vacancy rate the region has seen in two years.
And while some new stock continues to trickle onto the market, local agents say this side of things is improving.
28 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
ROCKHAMPTON
RENTAL MARKET - 3 BED TOWNHOUSES
SALES MARKET - UNITS & TOWNHOUSES
RENTAL MARKET - 2 BED UNITS
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
SALES MARKET - HOUSES
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
RENTAL MARKET - 3 BED HOUSESPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
SALES MARKET - VACANT LAND
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
According to local agents, the residential market in Rockhampton is still at the bottom of the cycle with the lack of employment opportunities playing a key factor in the overall economy.
Given the current climate many are choosing to hold on and wait for the market to improve. This is said to be true for both owner-occupiers and investors. This trend is evident in both the drop off in listing numbers and sales activity over the year.
And while the recent cyclone and subsequent flooding had a devastating impact on the region and on local property, the Rockhampton community have rallied together and repairs are well under way.
While this will cause the sales market to pause and ultimately delay the eventual recovery, the job front has never been better for local tradesmen. This will ultimately have a flow on effect to the local economy, which will also help to boost overall confidence within the property sector.
HOUSE MARKET
Over the December quarter 2014, the Rockhampton council area saw sales volumes ease slightly, down four per cent on the September quarter, while the median house price also eased, down 3.6 per cent.
Sales volumes over 2014 were down nearly 30 per cent compared to 2013, however this is reportedly due more to the fact that the vast majority of vendors are holding off from placing their properties on the market.
Also indicative of this holding pattern is the stability in the region’s median house price. Over the year, it was down just 1.6 per cent and up 3.4 per cent compared to five years ago when the market was much stronger.
All on the market indicators point to continued downturn in the market, with vendor discounting increasing slightly by 1.2 percentage points over the year. Average days on market also have stretched out, typical of slow market conditions.
UNIT MARKET
With no more new unit developments coming onto the market, unit sales volumes over the December quarter in Rockhampton dropped back to usual low levels.
Similar to the house market, total volumes over the year have fallen 30 per cent, while listing numbers over the year have dropped by nearly 60 per cent.
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
SALES MARKET - HOUSES
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
SALES MARKET - VACANT LAND
SALES MARKET - UNITS & TOWNHOUSES
ROCKHAMPTON CONTINUED
According to local agents, unit owners are also playing the wait and see game, looking for the Rockhampton market to show signs of improvement.
Over the quarter the change in the type of stock being sold saw the median drop 15.7 per cent.
RENTAL MARKET
Rockhampton agents continue to report an oversupply of rental stock, as well as the end of year being a quiet time for tenant enquiry levels. After recording improving conditions for three consecutive surveys, vacancy rates bounced back up to 5.2 per cent at the end of December, with rentals spending more than four weeks on the market.
Fortunately, agents say investor activity has continued to drop off, which bodes well for the regions vacancy levels.
The rental pool is said to remain unchanged, with investors instead choosing to relax the asking rent in order to maintain their tenancies.
Compared to the December quarter 2013, median weekly rents in Rockhampton have come down with three bedroom houses down $35 to $295 per week and two bedroom flats down $25 to $230 per week.
...many vendors are choosing to hold on and wait for the market to improve.
30 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
MACKAY
RENTAL MARKET - 2 BED UNITSPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
For the last three months of 2014, the Mackay residential property market saw sales volumes continue to trend downwards, with house sales down 13 per cent and unit sales a third of those recorded the previous quarter.
All other market indicators point to continued weakening conditions however according to local agents, Mackay has turned a corner since the start of the year on the back of improved local confidence, namely within the employment sector.
Both sales and rental markets are said to be stabilizing, with multiple applications being received for rental listings and multiple offers on sales.
The oversupply in the market is beginning to be absorbed since the start of the year, with agents reporting the demand and supply imbalance is getting back on to a more level playing field.
Local confidence had been hit hard over the 2014 year with significant job losses surrounding mine closures and the completion of the construction phase. However redundancies have now come to an end and Mackay is now seeing stability in the local workforce, with mining jobs back to normal work hours.
HOUSE MARKET
The 2014 calender year was a tough year for the Mackay house market, with sales volumes down 26 per cent.
There have however been signs that the house market is turning the corner with local agents saying buyer activity has improved since Christmas.
First home buyers in particular are said to be re-entering the market, predominantly finding value for money in houses in the $350,000 to $400,000 price range.
And like any residential market, where there are first home buyers active, upgraders who are selling their homes are also on the home hunt as well.
Despite the tough conditions in Mackay, average days on market have remained below 100 days while average vendor discounting has not reached 10 per cent. The percentage of vendors to make a profit on their original purchase price however has dropped to 75 per cent.
Despite this result, median house prices have held
relatively well, down just 5.2 per cent over the year and up 3.9 per cent compared to five years ago.
According to local agents, investors that bought at the peak of the boom in nearby Moranbah are really hurting in the back pocket. Many are either forced to sell at a significant loss or simply ride out the bottom of the cycle in the hopes that the local mining sector will recover.
UNIT MARKET
Mackay’s unit and townhouse market has come down significantly with preliminary sales volumes over the December quarter almost a third of those recorded during the September quarter.
In some good news for this segment of the market, building approvals appear to be coming to a halt, which will enable buyer demand to eventually soak up the current supply levels.
Median sale prices for the Mackay council area remained relatively steady over the year, however the suburb of Mackay saw its median drop nearly 25 per cent on the back of the wrapping up of new unit sales. Compared to five years ago, however, the median unit price for the suburb was up 6.7 per cent.
RENTAL MARKET
Mackay’s rental market continues to struggle, with vacancies hitting an all-time high of 10.3 per cent at the end of December, up from 8.4 per cent at the end of September. Local agents report continued over supply and this is being compounded further by the final rounds of new stock coming onto the market.
Tenants in Mackay are said to have the upper hand with a large choice of rentals, while changes to employment in the resources sector is said to have contributed to a drop off in overall population.
Over the first few months of 2015, however, local agents say vacancies are beginning to come back down and the correction in asking rents has seen people who had no choice but to go on waiting lists for public housing return back to the private rental market.
RENTAL MARKET - 3 BED TOWNHOUSESPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
ROCKHAMPTON REGIONAL (NEW) $230 167 $255 224
4700 ALLENSTOWN $220 45 $240 53
4701 BERSERKER $230 122 $250 110
LIVINGSTONE SHIRE (NEW) $270 69 N/A N/A
4702 ALBERTA $180 5 N.A. 2
4703 ADELAIDE PARK $280 59 $300 59
4710 EMU PARK $265 5 N.A. 0
CENTRAL HIGHLANDS REGIONAL $190 60 $250 87
4717 BLACKWATER $175 6 $200 18
4720 EMERALD $195 50 $265 64
ROCKHAMPTON REGIONAL (NEW) $345 9 $420 23
4701 BERSERKER $320 7 $380 6
LIVINGSTONE SHIRE (NEW) N/A 11 N/A N/A
4702 ALBERTA $380 9 $440 8
CENTRAL HIGHLANDS REGIONAL $270 19 $350 26
4720 EMERALD $260 18 $340 19
31
REGIONAL MARKET UPDATES
DECEMBER QUARTER 2014
SALES MARKET - HOUSES
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
SALES MARKET - UNITS & TOWNHOUSES
RENTAL MARKET - 3 BED HOUSESPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data. UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
Townsville remained a buyers’ market in the December quarter, with subdued sales activity reflecting the city’s challenging economic conditions. Following a period of uncertainty in the lead-up to the State Election, hopes are building that an economic recovery will take root on the back of new infrastructure including a new stadium and a proposed $450 million regional jobs package.
In the three months to December, Townsville’s residential property market saw falling transactions despite a strong September quarter. House, unit and vacant land sales all recorded a drop during the December quarter but local agents say this is typical for the time of year.
However, there were come encouraging trends in terms of median house sale prices in the December quarter. Median unit sales prices also bounced back strongly amid indications the local market could be turning the corner.
HOUSE MARKET
While the Townsville house market appeared to have turned a corner in the September quarter, there was a decrease in sales activity in the three months to December. During this period the volume of house sales was down six per cent and, however this was not reflected in the median sale price.
In the three months to December, the median sale price rose by 3.7 per cent on the back of increased transactions in the $500,000-plus price bracket. This helped to offset a decline in sales numbers in the sub-$500,000 house market. According to local agents most buyers still sit under the $500,000 mark, which is confirmed by the REIQ’s price point data.
Average days on market remained relatively steady at 90 days compared to three months ago, with average vendor discounting recording a slight rise to 7.7 per cent.
UNIT MARKET
Unit and townhouse sales in Townsville declined in the three months to December, however local agents remain confident about the longer term prospects of this sector of the real estate market.
The previous quarter saw stronger activity and quicker selling times, but there was a reversal of this trend in the three months to December. During this period, unit sales were down 13 per cent – however they increased by five per cent compared to 12 months earlier. And in another encouraging sign, the median unit price rose by an impressive 15.2 per cent in the December quarter.
This is confirmed by REIQ price point data, which shows a healthy spike in $350,000-plus unit sales and declining transactions at the lower end of the market.
RENTAL MARKET
Townsville’s rental market remained relatively stable as at the end of December, with the vacancy rate improving slightly to 4.7 per cent. Local agents report a continued over supply, with unemployment levels being the main contributing factor to tenant demand.
However, ABS figures indicate that Townsville’s economy may be turning a corner. After peaking at 10.5 per cent in June last year, Townsville’s unemployment rate has slowly come back down and over December 2014 sat at seven per cent.
Average time on market for Townsville vacancies are said to be around two to four weeks, with an average of approximately two applicants per listing.
According to the RTA, median weekly rents in Townsville saw some increases to the end of December, with two bedroom flats recording the highest increase, up $15 to $280 per week.
33
REGIONAL MARKET UPDATES
DECEMBER QUARTER 2014
SALES MARKET - HOUSES
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
SALES MARKET - VACANT LAND
SUBURB NUMBER OF SALES
MEDIAN SALE
QTRLY CHANGE
ANNUAL MEDIAN
SALE
1YR CHANGE
5YR CHANGE
SALES MARKET - UNITS & TOWNHOUSES
RENTAL MARKET - 3 BED HOUSESPOST DEC-14 DEC-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
RENTAL MARKET - 2 BED UNITS
RENTAL MARKET - 2 BED TOWNHOUSESPOST DEC-14 DEC-13
In Cairns, the vacancy rate also remained below 2.5 per cent at the end of December, but it was up 0.4 percentage points since the end of September. According to local agents, houses continue to be the most preferred investment type, with investors being quite active in the region.
Tenant demand is also reportedly strong with rentals on average spending 1 to 2 weeks on the market, with 2 to 5 applicants per listing.
Median weekly rents from the RTA, remain relatively stable in Cairns, however some increases were recorded in nearby Douglas, with three bedroom houses recording an increase of $20 to $350 per week.
CAIRNS
HOUSES
161
784
1900
274 130
788
1922
332
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
1272 1256
480
21
1078 1234
571
22
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
66
575 516
101 58
541 629
117
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
76
443 373
43 88
459 426
46
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
182
39 7
159
33 9
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
208
265
95
161
214
103
<$350,000 $350,000+ $500,000+
CAIRNS & DOUGLAS HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
194
46 6
202
60
6
<$350,000 $350,000+ $500,000+
FRASER COAST HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
48 59
14
51 47
10
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
255
183
49
222
165
65
<$350,000 $350,000+ $500,000+
TOWNSVILLE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
64
94
30
64 73
23
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
163
69
26
142
60
19
<$350,000 $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE HOUSE SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
208
56
271
200
87
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
UNITS
62
384
875
508
54 47
310
770
427
47
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE CITY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
260 282
132
51 5
225 239
100 46
3
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS UNIT SALES (p)
SEP 14 DEC 14INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
296
560 457
276
59
243
509 426
280
65
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
GOLD COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
108
203 194
112
21
83
215 177
101
35
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
SUNSHINE COAST & NOOSA UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
19
10
4
0
16
10 7
2
<$250,000 $250,000+ $350,000+ $500,000+
BUNDABERG UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
222
81
33 19
205
67 32 23
<$250,000 $250,000+ $350,000+ $500,000+
CAIRNS & DOUGLAS UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
21
12
6
0
19 16
6
1
<$250,000 $250,000+ $350,000+ $500,000+
FRASER COAST UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
3 4
6
3
11
5 4
0
<$250,000 $250,000+ $350,000+ $500,000+
GLADSTONE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
55
40
14 11
39
24 17 20
<$250,000 $250,000+ $350,000+ $500,000+
TOWNSVILLE UNIT SALES (p) SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
18
33
10 10 6 5 7 5
<$250,000 $250,000+ $350,000+ $500,000+
MACKAY UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
13 13
18
7 9
12
3
7
<$250,000 $250,000+ $350,000+ $500,000+
ROCKHAMPTON & LIVINGSTONE UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
38
62
14 5
28
40
10 4
<$250,000 $250,000+ $350,000+ $500,000+
TOOWOOMBA UNIT SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
LAND
29
57 49
24 19
31 36
14
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
341
59 22 9
344
59 19 4
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
SEP 14 DEC 14Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
102
28 10 10
91
36
9 9
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
46
21 15
8
49
26 19
13
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST & NOOSA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
49
2 0
29
0 0
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
81
16 4
69
11 3
<$250,000 $250,000+ $350,000+
CAIRNS & DOUGLAS LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
62
3 0
44
2 1
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
14
1 1
20
2 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
28
1 3
18
6 2
<$250,000 $250,000+ $350,000+
MACKAY LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
77
5 0
35
4 0
<$250,000 $250,000+ $350,000+
ROCKHAMPTON & LIVINGSTONE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
60
3 4
27
2 0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
106
6 4
83
6 2
<$250,000 $250,000+ $350,000+
TOWNSVILLE LAND SALES (p)
SEP 14 DEC 14
(p) Preliminary. See explanatory notes for further information. Source: REIQ, data provided by RP Data.
Cairns continues to be one of Queensland’s strongest performing residential real estate markets, with hopes growing that 2015 could be one of the city’s best years yet. Despite lower house and unit sales volumes in the three months to December - driven largely by seasonal factors - local agents are reporting the market has bounced back strongly in the first two months of the year.
With little movement in median unit and house sale prices in the three months to December, there’s a growing expectation that Cairns could nevertheless achieve double digit price growth in both sectors this calendar year.
Important commercial development projects such as the Redlynch Shopping Centre expansion and the proposed $200 million seven-tower residential project on Spence Street are generating more confidence in the local economy and giving investors more reasons to look to Far North Queensland.
While some uncertainty surrounds the fate of the proposed Aquis development, there’s a new-found sense of confidence in the local economy and its real estate market.
HOUSE MARKET
Cairns house sales declined 14 per cent in the three months to December, but still recorded a one per cent rise compared to 12 months earlier. The median sale price recorded a 2.9 per cent rise in the December quarter, contributing to a 5.8 per cent rise over 2014.
The percentage of houses selling at a profit is on a strong upward trajectory, confirming the confidence that’s building in the local market. In the December quarter, 88 per cent of houses made a profit on re-sale, up from 78 per cent 12 months earlier.
Average days on market continue to trend down, with properties selling 22 days quicker than 12 months ago, while average vendor discounting was steady in the December quarter at 5.7 per cent.
UNIT MARKET
Cairns unit sales also fell 14 per cent in the December quarter, however the median sale priced recorded a much smaller fall of just one per cent. The increase in $500,000-plus unit transactions contributed to this result, however the vast majority of transactions occurred below $250,000.
Local agents report owner-occupiers are more active than investors in the local unit market, with many chasing properties with low body corporate fees. The $250,000-to-$350,000 remains healthy, with further prospects for growth in 2015.
Queensland Market Monitor is published byThe Real Estate Institute of Queensland (REIQ).
ABN 49 009 661 287
Sales data obtained from Core Logic RP Data (www.corelogic.com.au) and median weekly rental data from the Residential Tenancies Authority (www.rta.qld.gov.au). Enquiries about the reproduction of part or all of the information should be directed to the Corporate Affairs Division, REIQ.
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 Corporate Affairs Division on phone 07 3249 7347.
Data report date: 12 February 2015 Published date: 9 March 2015
reiqdotcombuyrentselleasy.indd 1 1/10/13 10:55 AM
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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