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Queensland Market Monitor - September Quarter 2014
1. your state-wide property research guide suburb by suburb
REIQ
QUEENSLAND MARKET MONITOR ISSUE 24
SEPT QTR 2014
>p2
QMM STATE-WIDE COMMENTARY
Proudly supported by
CONFIDENCE
SPREADS TO
REGIONAL QLD
While residential real estate markets south of the border
are reportedly coming to, if not already at their peak,
Queensland is some way off that point. Sales activity in
Southeast Queensland (SEQ) continues to strengthen,
while the state’s key regional centres are beginning to
reap the benefits of growing confidence across the state.
Listing numbers have begun to improve, a sign that
vendors are becoming increasingly confident about
current selling conditions. However, local agents
still report a shortage of supply in some areas and
price segments.
Average days on market and average vendor discounting
have improved markedly in most regions compared to a
year ago. These conditions, combined with strong sales
activity, have seen SEQ, Toowoomba and Cairns enter a
rising house market.
Townsville has now joined the Fraser Coast in recovery
mode, with Gladstone and Bundaberg also entering a
recovery phase. Local agents are reporting Rockhampton
is at the bottom of the cycle, while Mackay appears to
be stabilising.
2. REIQ RESEARCH EXPLANATORY NOTES
SALES DATA
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/A
Due 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
f
Median price changes influenced by varying quantities
of waterfront properties sold
t
Medians affected by varying quantities of townhouses
sold
G
Sales 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
RENTAL 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.
L
Listed 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)
2 QUEENSLAND MARKET MONITOR
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 results
Source: REIQ, data obtained from RPData (www.rpdata.com.au). Enquiries
about the reproduction of part or all of the information should be directed
to the Corporate Affairs Division, REIQ.
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/A
Due to insufficient information received no vacancy rate
has been calculated
Source: REIQ Residential Rental Survey
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: CoreLogic RP Data (www.corelogic.com.au)
3. 3
STATE-WIDE SUMMARY
HOUSE MARKET
House sales activity across SEQ continued to improve over
the September quarter, with preliminary sales numbers
up five per cent across Greater Brisbane. The Gold and
Sunshine Coasts recorded an increase of seven and three
per cent respectively.
Cairns saw sales volumes for both the house and unit
markets increase by more than 30 per cent, with the
city also recording the greatest improvement in average
vendor discounting outside of SEQ. Toowoomba shared
equal honours for the greatest drop in days on market
compared to a year ago.
These six regions have now recorded consecutive quarterly
increases in sales volumes and with strong increases
in their respective median house prices over the year to
September. They are clearly beginning to enter the rising
segment of the property cycle.
The Fraser Coast on the other hand saw sales activity
remain relatively stable over the quarter, a trend seen
over the corresponding period last year. All other market
indicators, however, point to a recovery in the local
house market. The region posted the second greatest
improvement in days on market, with houses selling 12
days quicker than they did this time last year.
Townsville’s house market has bounced back after a
very lacklustre June quarter, with sales volumes over the
September quarter up 27 per cent – taking preliminary
house sale numbers to their highest level so far
this decade.
Mackay and Gladstone both recorded strong sales
activity for the quarter, however both regions are still
seeing a softening in median house prices. Local agents
in Gladstone report that the residential sales market is
normalising following an exceptionally high volume of
activity in the past few years.
UNIT MARKET
Unit and townhouse markets across SEQ and many
other parts of the state continue to improve. While overall
preliminary sales numbers were up across all price points,
the strongest increase in sales was recorded in the sub-
$250,000 (up 20 per cent) and million-dollar plus price
point (up 21 per cent).
Greater Brisbane’s unit market outperformed house sales,
with volumes up 11 per cent over the quarter on the back
of strong results in the Logan and Ipswich regions.
The Cairns unit market performed very strongly over the
September quarter, with unit sales in the sub-$250,000
recording the highest increase in buyer activity. This
contributed to the region’s drop in median sale price for
that period.
Toowoomba also continues to record strong sales activity,
with volumes up 21 per cent on the June quarter and the
median sale price posting a healthy 2.5 per cent increase
over the same period.
SEPTEMBER QUARTER 2014
REIQ
TABLE OF CONTENTS
Queensland market update 1
REIQ Explanatory notes 2
Brisbane market updates
Brisbane City 6
Greater Brisbane 11
Regional market updates
Gold Coast 16
Toowoomba 19
Sunshine Coast 21
Fraser Coast 23
Bundaberg 25
Gladstone 27
Rockhampton 28
Mackay 30
Townsville 32
Cairns 34
Other Regional 36
On The Market Indicators 37
Total Listings
% Stock on Market
Average Vendor Discount
Average Days on Market
Rental Market Indicators 38
Gross rental yields
Residential vacancy rates
3 QUEENSLAND MARKET MONITOR
STATE-WIDE
SUMMARY CONTINUED
... key regional
centres are
beginning
to reap the
benefits of
growing
confidence
across the
state.
4. STATE-WIDE SUMMARY
BRISBANE HOUSE MARKETS
September Qtr 2014
Brisbane
Redland
Logan
With activity typically RISING
lagging the house market by at least
one quarter in most regions, the unit markets across most
major Moreton centres Bay
are beginning to enjoy improving overall
market conditions.
Ipswich
Properties are selling quicker and average vendor
discounting is coming down in SEQ, along with the likes
of Cairns and the Fraser Coast. Toowoomba, Rockhampton
and Townsville have likewise seen improvements in their
on the market statistics over the year to September.
QUEENSLAND HOUSE MARKETS
September Qtr 2014
RISING
Brisbane SD
Toowoomba
Gold Coast
Sunsine Coast
Cairns
Fraser Coast
Townsville
4 QUEENSLAND MARKET MONITOR
FALLING
RECOVERING STABILISING
Source: REIQ
FALLING
RECOVERING STABILISING
Mackay
Gladstone
Bundaberg Rockhampton
Source: REIQ
HOUSES (<2400) UNITS & TOWNHOUSES VACANT LAND (<2400)
LGA MEDIAN
SALE PRICE
QTRLY
CHANGE
SALES
ACTIVITY
CHANGE
MEDIAN
SALE PRICE
QTRLY
CHANGE
SALES
ACTIVITY
CHANGE
MEDIAN
SALE PRICE
QTRLY
CHANGE
SALES
ACTIVITY
CHANGE
GREATER BRISBANE
BRISBANE SD $465,500 -1.0% 5% $384,900 -1.3% 11% $215,000 -0.3% -8%
BRISBANE $580,000 0.9% 3% $420,000 0.6% 7% $335,000 -0.2% 3%
IPSWICH $300,000 0.0% 4% $242,000 -16.5% ~ t 24% $168,177 -3.9% -26%
LOGAN $341,000 -0.9% 14% $241,000 4.8% 41% $188,000 -3.6% ~ -35%
MORETON BAY $382,250 -1.4% 8% $319,450 -0.2% 10% $210,825 -1.9% -17%
REDLAND $468,000 -0.2% 3% $356,750 6.5% 3% $51,000 -27.1% ~ b 57%
TOURISM CENTRES
GOLD COAST $495,000 -3.9% ~ 7% $340,000 -2.9% 5% $234,000 -0.4% 3%
SUNSHINE COAST $473,500 1.2% 3% $342,500 -1.8% 3% $242,000 3.0% -26%
NOOSA $522,500 -5.7% ~ 13% $395,000 9.4% ~ 5% $247,750 -8.2% 13%
FRASER COAST $286,500 0.5% 0% $240,000 -5.9% -9% $150,000 15.4% ~ 14%
CAIRNS $379,000 -0.5% 38% $210,000 -5.4% 34% $203,500 19.7% ~ 42%
REGIONAL CENTRES
BUNDABERG $268,995 -5.3% 19% $235,000 -12.1% ~ 62% $144,000 0.0% 24%
GLADSTONE $374,000 -4.1% 11% $370,000 12.1% ~ t -19% $214,000 25.9% ~ -6%
MACKAY $391,000 -1.0% 14% $301,030 -1.3% 188% $206,000 6.7% ~ -33%
ROCKHAMPTON $305,000 -3.6% 6% $415,000 -0.6% 47% $183,900 7.9% ~ 109%
TOOWOOMBA $339,500 1.0% 4% $279,000 2.5% 21% $156,500 -2.7% ~ 139%
TOWNSVILLE $340,000 -5.6% ~ 27% $251,750 -6.8% ~ -18% $161,900 3.8% 27%
ON THE
MARKET" HOUSES (ALL) UNITS (ALL)
LGA
STOCK
ON
MARKET
DAYS ON
MARKET
VENDOR
DISCOUNT
STOCK
ON
MARKET
DAYS ON
MARKET
VENDOR
DISCOUNT
GREATER BRISBANE
BRISBANE 6.4% 57 -5.5% 6.4% 66 -4.8%
IPSWICH 7.0% 82 -6.5% 10.3% 117 -7.4%
LOGAN 7.2% 76 -5.8% 10.8% 101 -6.3%
MORETON BAY 7.3% 73 -5.4% 9.3% 100 -5.5%
REDLAND 8.4% 70 -5.7% 9.5% 90 -5.3%
TOURISM CENTRES
GOLD COAST 7.7% 72 -6.0% 9.1% 93 -6.7%
SUNSHINE COAST 9.0% 90 -5.9% 9.6% 106 -6.4%
FRASER COAST 9.5% 109 -7.6% 8.0% 97 -7.6%
CAIRNS 6.7% 71 -5.8% 11.1% 118 -6.6%
REGIONAL QLD
BUNDABERG 8.3% 89 -7.5% 11.1% 138 -8.0%
GLADSTONE 7.9% 114 -9.8% 7.2% 130 -11.3%
MACKAY 7.2% 95 -9.0% 7.9% 129 -12.9%
ROCKHAMPTON 7.8% 94 -8.0% 7.7% 112 -6.6%
TOOWOOMBA 8.7% 62 -4.5% 8.9% 76 -4.3%
TOWNSVILLE 7.1% 89 -7.4% 10.3% 126 -9.4%
" Figures are for the 12 months ending August 2014
5. 5
STATE-WIDE SUMMARY
RENTAL TRENDS^ MEDIAN WEEKLY RENT GROSS RENTAL YIELDS
LGA 3-BED HOUSE 2-BED FLAT 3-BED TOWNHOUSE HOUSES UNITS
GREATER BRISBANE
BRISBANE CITY $415 UP $400 UP $405 STEADY 3.7% DOWN 5.0% STEADY
IPSWICH CITY $300 UP $250 STEADY $310 UP 5.2% STEADY 5.4% UP*
LOGAN CITY $340 UP $260 STEADY $335 UP 5.2% STEADY 5.6% STEADY
MORETON BAY $340 UP $270 STEADY $335 STEADY 4.6% STEADY 4.4% DOWN
REDLAND CITY $380 STEADY $330 STEADY $390 UP 4.2% STEADY 4.8% STEADY
TOURISM CENTRES
GOLD COAST CITY $430 UP* $360 UP $385 UP 4.5% STEADY 5.5% STEADY
SUNSHINE COAST** $400 UP* $320 UP $370 DOWN 4.4% STEADY 4.9% UP*
NOOSA $420 UP* $360 UP* $490 UP* 4.2% 4.7%
FRASER COAST $280 STEADY $235 UP $325 UP* 4.8% STEADY 6.9% UP*
CAIRNS $350 UP $280 UP $350 DOWN 5.1% DOWN 5.1% DOWN
REGIONAL QLD
BUNDABERG $285 STEADY $230 STEADY $320 UP* 5.5% UP 5.1% DOWN
GLADSTONE $320 DOWN* $250 DOWN* $350 DOWN* 4.4% STEADY 3.5% DOWN*
MACKAY $345 DOWN* $250 DOWN* $350 DOWN* 4.6% DOWN 4.3% UP*
ROCKHAMPTON $300 DOWN* $230 DOWN* $300 DOWN* 5.1% STEADY 2.9% DOWN*
TOOWOOMBA $300 UP $240 UP $295 UP* 4.6% DOWN 4.5% DOWN*
TOWNSVILLE $320 DOWN* $265 DOWN $330 DOWN* 4.9% STEADY 5.5% DOWN*
FOR FULL ON THE MARKET AND RENTAL MARKET STATISTICS
BY LOCAL GOVERNMENT AREA, SEE PAGE 37-38
SEPTEMBER QUARTER 2014
RENTAL MARKET
The REIQ’s latest Residential Rental Survey, conducted
at the end of September, found vacancy levels remain
relatively steady across most parts of the state. Only four
of the 16 major regions recorded a significant change in
vacancy levels.
Outside Queensland’s resource centres, rental conditions
remain tight across all other major regional centres. The
Sunshine Coast again posted the State’s tightest vacancy
rate of one per cent at the end of September.
Latest figures from the RTA also point to some movements
in median weekly rents. This is in line with trends showing
varying demand and supply levels across the state.
Median rents in Gladstone and Mackay continue to ease,
while continued tight conditions seen in many other parts
of the state are yet to convert into any significant increases
in median weekly rents.
The total number of new bonds lodged across Queensland
was up over the September quarter. Local agents in many
areas say this is a popular time of year for people to
relocate, most notably for work or school reasons prior to
the Christmas-New Year period.
* 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' 30-SEP-14 TREND
GREATER BRISBANE
BRISBANE SD' 2.0% DOWN
BRISBANE CITY 2.3% STEADY
IPSWICH CITY 1.6% DOWN
LOGAN CITY 1.5% DOWN
MORETON BAY 1.8% STEADY
REDLAND CITY 1.8% UP
TOURISM CENTRES
GOLD COAST CITY 1.9% STEADY
SUNSHINE COAST' 1.1% STEADY
FRASER COAST 2.1% DOWN
CAIRNS 1.8% STEADY
REGIONAL QLD
BUNDABERG 2.9% DOWN
GLADSTONE 4.7% DOWN
MACKAY 8.4% UP
ROCKHAMPTON 4.1% DOWN
TOOWOOMBA 1.6% STEADY
TOWNSVILLE 4.8% DOWN
6. BRISBANE MARKET UPDATES
p) Preliminary. Source: REIQ, BRISBANE
6 QUEENSLAND MARKET MONITOR
166
BRISBANE CITY HOUSE SALES (p)
JUN 14 SEP 14
770
1840
784
1900
161 235
274
<$350,000 $350,000+ $500,000+ $1m+
p) Preliminary. Source: REIQ, 57
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
BRISBANE SURROUNDS HOUSE SALES (p)
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
BRISBANE CITY UNIT SALES (p)
JUN 14 SEP 14
JUN 14 SEP 14
1272 1256
1154 1157
875
472
18
508
480
21
384
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
<$250,000 (p) Preliminary. Source: REIQ, data 43 65
GOLD COAST HOUSE SALES (p)
BRISBANE SURROUNDS UNIT SALES (p)
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
BRISBANE CITY LAND SALES (p)
JUN 14 SEP 14
480
JUN 14 SEP 14
548
575
516
JUN 14 SEP 14
57
49
66 84
101
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
SUNSHINE COAST & NOOSA HOUSE SALES (p)
GOLD COAST UNIT SALES (p)
JUN 14 SEP 14
JUN 14 SEP 14
BRISBANE SURROUNDS LAND SALES (p)
RENTAL MARKET
At the end of September, Brisbane recorded a vacancy
rate of 2.3 per cent, relatively unchanged since the end of
June. Brisbane’s middle to outer suburbs (5 to 20km from
the CBD) 79
recorded a slight easing in vacancy levels, up 0.3
percentage points to two per cent at the end of September.
Inner Brisbane saw vacancies drop to 2.9 per cent.
Despite the result, there continues to be concern about
the number of new units coming onto the inner city
market and its impact on the rental market.
Analysis of figures from the RTA show the number of
bonds held for unit tenancies increased by nearly 7000
bonds across the inner Brisbane zones since the end of
September 2010, when the first of the developments were
completed. This suggests that at this stage the additional
supply is being absorbed.
Over the longer term, agents are expecting to see
softening rents and increased use of rental incentives,
rather than a continued over supply in the market.
440
Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
346
37
76
443
373
43
JUN 14 SEP 14
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
p) Preliminary. Source: REIQ, (p) Preliminary. Source: REIQ, (43
((p) Preliminary. Source: REIQ, <$250,000 (p) Preliminary. Source: REIQ, data 363
860
454
62 45
54
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
197
260
111
46
5
260 282
132
51
5
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
273
520
451
290
36
296
560
457
276
59
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
105
SUNSHINE COAST & NOOSA UNIT SALES (p)
GOLD COAST LAND SALES (p)
197
JUN 14 SEP 14
JUN 14 SEP 14
177
105
27
108
203 194
112
21
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
9 <$250,000 (p) Preliminary. Source: REIQ, data 21
<$250,000 (p) Preliminary. Source: REIQ, data 6 40 40
29 31
24
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
379
71
36
3
341
59
22 9
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
88
33
8 16
102
28
10 10
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
71
SUNSHINE COAST & NOOSA LAND SALES (p)
35
JUN 14 SEP 14
21
46
21
p) Preliminary. Source: REIQ, ((p) Preliminary. Source: REIQ, (CITY
Over the September quarter the Brisbane City local
government area (LGA) once again recorded an increase
in sales activity. It also saw strong growth in its annual
median sale prices for both houses and units compared
to a year ago. The capital city is firmly moving into a
rising market, with strong volumes recorded across all
price points.
The strong price growth seen in the Sydney and Melbourne
residential property markets puts Brisbane in a healthy
position to reap the benefits of increased interstate
investment. Investors and home buyers alike are looking
north of the border for more affordable housing options in a
capital city that has some capital growth still to come.
HOUSE MARKET
Brisbane’s house market continues to lead the rest of
the state out of the recovery stage, with sales volumes
continuing to grow along with strengthening buyer
demand. This is evident in the continued improvement in
average days on market and average vendor discounting,
both of which have edged down since the end of June.
Brisbane remains the fastest selling major region with
an average of 57 days over the year to August, while the
rate of average vendor discounting over the period also
remains the lowest for the state at 5.5 per cent.
According to local agents listings are still hard to come
by in some areas, particularly in the sub-$500,000 bracket.
This was evident in the price point results for the quarter
which saw the sub-$350,000 and sub-$500,000 segments
record only small increases in preliminary sales volumes,
while healthy increases were seen in the upper two
price points.
A further indicator that the Brisbane house market
is getting into full swing is that the increase in sales
activity is not concentrated in any one pocket or zone
from the CBD. Strong growth in sales volumes over the
quarter was recorded in the likes of Mount Gravatt East,
Woolloongabba, Carseldine and Salisbury.
UNIT MARKET
Brisbane’s unit market also continues to perform strongly,
with sales volumes up seven per cent over the September
quarter. The median sale price was relatively steady over
the quarter, however the annual median was up a healthy
five per cent compared to a year ago and up 9.1 per cent
compared to five years ago.
According to local agents, there is strong activity in the
new unit and townhouse market across the city, with
a number of new developments still coming onto the
market. These include high rise units in inner Brisbane,
to townhouse complexes scattered across the middle-to-outer
suburbs.
Similar to the house market, activity at the affordable
end of the market wasn’t as strong as sales in the upper
price points.
10. BRISBANE MARKET UPDATES
RENTAL MARKET - 2 BED UNITS (CONT’D)
POST SEP-14 SEP-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
10 QUEENSLAND MARKET MONITOR
RENTAL MARKET - 3 BED TOWNHOUSES
POST SEP-14 SEP-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
DID YOU KNOW?
YOU CAN GET MEDIAN WEEKLY RENTS FOR
OTHER PROPERTY TYPES ONLINE AT
WWW.RTA.QLD.GOV.AU
BRISBANE CITY $405 1653 $405 1495
BAYSIDE $400 91 $390 110
4178 WYNNUM $400 53 $390 60
4179 MANLY $390 38 $390 50
CITY INNER $600 66 $600 62
4006 BOWEN HILLS $625 13 $625 11
4064 PADDINGTON $600 14 $600 10
4066 TOOWONG $550 11 $560 12
4067 ST LUCIA $575 9 $620 8
4101 WEST END $750 7 $690 6
4169 EAST BRISBANE $550 8 $490 5
NORTH - INNER $470 96 $475 82
4007 ASCOT $550 9 $590 8
4011 CLAYFIELD $500 12 $500 8
4012 NUNDAH $450 18 $460 17
4030 LUTWYCHE $495 8 $450 9
4031 GORDON PARK $450 19 $465 20
4051 ALDERLEY $450 28 $480 20
NORTH - OUTER $380 236 $385 173
4013 NORTHGATE $410 12 $475 14
4017 BRACKEN RIDGE $365 34 $365 31
4018 FITZGIBBON $296 66 $375 40
4032 CHERMSIDE $430 22 $425 32
4034 ASPLEY $395 93 $385 46
4036 BALD HILLS $294 9 $280 10
NORTH WEST - INNER $500 20 $560 22
4059 KELVIN GROVE $500 13 $599 13
NORTH WEST - OUTER $425 51 $410 54
4053 STAFFORD $425 41 $410 43
4054 ARANA HILLS $400 7 $370 7
SOUTH - INNER $440 155 $435 138
4103 ANNERLEY $490 27 $500 27
4104 YERONGA $480 17 $460 14
4105 MOOROOKA $450 23 $400 12
4120 GREENSLOPES $495 15 $475 15
4121 HOLLAND PARK $460 7 $430 14
4122 MANSFIELD $420 66 $415 56
SOUTH - OUTER $390 396 $390 348
4107 SALISBURY $495 7 $410 7
4109 MACGREGOR $405 63 $410 66
4110 ACACIA RIDGE $340 41 $335 7
4112 KURABY $380 18 $365 12
4113 EIGHT MILE PLAINS $400 149 $400 136
4115 ALGESTER $380 31 $380 37
4116 CALAMVALE $385 85 $380 80
SOUTH EAST - INNER $485 209 $480 200
4151 COORPAROO $495 8 $500 14
4152 CAMP HILL $450 96 $450 87
4170 CANNON HILL $500 69 $500 62
4171 BALMORAL $540 30 $600 29
4172 MURARRIE $475 6 $485 8
SOUTH EAST - OUTER $410 55 $415 68
4153 BELMONT $420 7 $430 21
4154 GUMDALE $410 30 $410 33
4173 TINGALPA $385 17 $390 14
SOUTH WEST - INNER $420 76 $420 54
4068 CHELMER $485 25 $500 16
4075 CORINDA $400 51 $400 38
SOUTH WEST - OUTER $360 202 $350 184
4073 SEVENTEEN MILE ROCKS $400 11 $410 8
4074 JINDALEE $435 19 $400 19
4076 DARRA $375 28 N.A. 4
4077 DOOLANDELLA $355 103 $350 117
4078 FOREST LAKE $355 38 $355 30
SOUTH - OUTER $320 58 $320 68
4106 ROCKLEA $250 6 $275 6
4108 COOPERS PLAINS $250 6 $320 7
4109 MACGREGOR $390 24 $350 41
4110 ACACIA RIDGE $310 5 N.A. 4
4113 EIGHT MILE PLAINS $340 5 N.A. 4
4115 ALGESTER $300 6 N.A. 2
SOUTH EAST - INNER $380 387 $370 394
4151 COORPAROO $360 152 $365 160
4152 CAMP HILL $360 30 $350 34
4170 CANNON HILL $395 88 $360 89
4171 BALMORAL $435 114 $410 107
SOUTH WEST - INNER $370 251 $385 264
4068 CHELMER $375 212 $390 220
4075 CORINDA $335 39 $350 44
SOUTH WEST - OUTER $325 23 $330 15
4076 DARRA $250 6 N.A. 1
4078 FOREST LAKE $335 10 $335 6
Brisbane’s house market
continues to lead the rest
of the state out of the
recovery stage
11. BRISBANE MARKET UPDATES
BRISBANE HOUSE MARKETS
September Qtr 2014
For example, Redlands QUEENSLAND units HOUSE are averaging MARKETS
5.3 per cent,
compared to 5.7 per cent for house sales.
Overall sales volumes are trending upwards and Logan
City leading the way, with an increase of 41 per cent over
the quarter and a healthy 4.8 per cent increase in median
sale price.
Over the year to September, the Ipswich unit market
was the star performer with an increase of 14.6 per
cent compared to the previous year and up 9.8 per cent
compared to five years ago.
RENTAL MARKET
With affordability a key driver of tenant demand, the
Greater Brisbane rental market continues to see strong
tenant enquiry as more look to the outer suburbs to
achieve cheaper rent or more for their money.
As a result, vacancy levels have tightened further with
the Brisbane Statistical Division recording a drop of
0.3 percentage points to two per cent at the end of
September. It has now returned to the same level recorded
at the end of September last year.
The vacancy level for the greater Brisbane area, excluding
the Brisbane City LGA, also returned to that recorded 12
months ago, to a 1.7 per cent vacancy rate.
Ipswich and Logan both recorded the largest drop in
its vacancy rate, down 1.4 percentage points compared
to the end of June, placing both regions into tight
market conditions.
Over the September quarter, median weekly rents from the
RTA show modest changes across the Greater Brisbane
regions, with the exception of two bedroom flats in
Redland, which saw an increase of $35 to $310 per week.
SEPTEMBER QUARTER 2014 11
GREATER
BRISBANE
While Brisbane City’s residential market continues
to strengthen, so too do the outer lying areas of
Greater Brisbane.
Buyers are looking to the outer areas for affordability
reasons but also for lifestyle reasons. Redland City is
leading the way with the strongest growth in median sale
prices compared to five years ago, while Logan and Moreton
Bay are leading the way in terms of sales activity. Ipswich
is a tad behind the three other regions, but it too is moving
into a rising market with preliminary sales volumes also
improving over the quarter.
Many of the outer lying areas are seeing improved
infrastructure projects going ahead, such as the Kippa-Ring
rail extension in Redcliffe, which will continue to support the
increasing population in the region.
And while interstate migration sits at historical lows, many
market commentators are tipping this will turn around
on the back of increasing house prices in Sydney and
Melbourne.
HOUSE MARKET
Over the September quarter, all LGAs within the Brisbane
surrounds recorded an increase in preliminary sales
numbers. Median house prices remained relatively stable
or softened in some areas due to an increase in activity at
the affordable end of the market.
Preliminary sales numbers in the sub-$350,000 and
sub-$500,000 price points were up 10 and nine per cent
respectively, while the upper two price points saw only
marginal increases since the end of June.
Average days on market and average vendor discounting
for the greater Brisbane area both improved slightly over
the three months to September. Redland was the fastest
selling region with an average of just 70 days. Market
conditions are leaning more in favour of sellers in Moreton
Bay, where the average vendor discount is 5.4 per cent, up
from 6.8 per cent 12 months ago.
Despite recording the longest days on market and vendor
discount for the greater Brisbane area, the Ipswich
property market is set to be vastly benefited from improved
infrastructure. These include rail upgrades for the South-west
rail transport corridor identified by the new Brisbane
City Plan.
UNIT MARKET
The unit and townhouse market for the Brisbane
surrounds is still somewhat behind the house market,
with days on market up around the 100-day mark. Average
vendor discounting in some regions is better than that
those for house sales.
FALLING
RISING
RECOVERING STABILISING
Brisbane
Redland
Logan
Moreton Bay
Ipswich
Source: REIQ
September Qtr 2014
FALLING
RISING
RECOVERING STABILISING
Mackay
Brisbane SD
Toowoomba
Gold Coast
Townsville
Gladstone
Bundaberg Rockhampton
Sunsine Coast
Cairns
Fraser Coast
Source: REIQ
16. REGIONAL MARKET UPDATES
GOLD COAST
The Gold Coast real estate market is firmly into a new
growth phase as the city’s economy gathers strength on
the back of major infrastructure projects and an improving
tourism market.
The light rail project linking Southport to Broadbeach has
delivered an important boost to the tourist centre, with the
Pacific Fair Shopping Centre upgrade and preparations for
the 2018 Commonwealth Games also contributing to a
more positive economic outlook.
House sale volumes on the Gold Coast rose seven per cent
in the three months to September, with unit sales also
increasing by five per cent. During the same period, acreage
sales were up four per cent.
Houses are selling quicker on the Gold Coast, with average
days on market down to 72 days in the September quarter,
compared to 96 days 12 months earlier.
Average vendor discounting on the Gold Coast Coast
is also trending downwards, currently sitting at six per
cent in September 2013, compared to 11.6 per cent in
September 2004.
HOUSE MARKET
The northern rim of the Gold Coast is recording strong
sales volumes, as are a number of hinterland suburbs.
Both contributed to the region’s impressive rise in sales in
the September quarter.
Those to record the biggest increase in quarterly sales
included Upper Coomera (116 per cent), Helensvale (63
per cent) and Robina (63 per cent).
According to local agents this sales growth has been
underpinned by job-creating developments in the region
and a return of confidence in the tourism market.
Despite rising sales volumes, median house prices on
the Gold Coast eased 3.9 per cent to $495,000 in the three
months to September. This is the result of higher sale
volumes as the lower end of the market and a fall in the
number of $500,000-plus sales.
REIQ’S price point data confirms this, with the highest
number of preliminary sales numbers recorded in the
$350,000-plus bracket. Sales also rose slightly in the
$250,000-plus price bracket.
16 QUEENSLAND MARKET MONITOR
However, sale volumes in the $500,000-plus price bracket
were down 5.8 per cent in the three months to September,
with million-dollar plus sales also picking up on much
smaller volumes.
Some suburbs recorded impressive price growth over the
quarter, however, such as Runaway Bay (40.1 per cent),
Clear Island Waters (22.2 per cent), and Paradise Point
(13.3 per cent).
UNIT MARKET
The Gold Coast unit and townhouse market recorded a
five per cent increase in sale volumes in the three months
to September.
Median unit prices on the Gold Coast eased 2.9 per
cent during this period to $340,000. While units priced
up to $500,000 saw an increase in sales, volumes in the
$500,000-plus price bracket were down.
Local agents say there are still good opportunities in the
high rise market, with many properties being quickly
picked off by investors. In the past month, investor
activity in the apartment/unit market has reportedly been
very strong.
Sales volumes were also up in the luxury end of the
market, with 59 apartments priced upwards of $1 million
changing hands, up from 36 in the June quarter.
Suburbs to record strong price growth over the quarter
included Coolangatta (25.7 per cent) and Coombabah
(15.6 per cent).
RENTAL MARKET
According to the REIQ’s latest rental survey, rental
conditions on the Gold Coast remain tight amid a shortage
of supply.
The Gold Coast recorded a vacancy rate of 1.9 per cent at
the end of September, with median weekly rents remaining
stable over the September quarter.
Local agents say the higher rental yields available on
the Gold Coast are attracting an increasing number of
interstate investors. It’s hoped increased investor activity
will add to the supply of available rental stock.
18. REGIONAL MARKET UPDATES
GOLD COAST CITY $360 2634 $350 2664
4210 OXENFORD $300 23 $295 21
4211 ADVANCETOWN $325 30 $295 36
4212 HELENSVALE $390 57 $415 63
4214 ARUNDEL $300 20 $250 14
4215 LABRADOR $350 573 $335 582
4216 PARADISE POINT $355 182 $345 216
4217 BENOWA $400 656 $390 642
4218 BROADBEACH $350 333 $350 367
4220 BURLEIGH HEADS $380 218 $360 217
4221 ELANORA $325 124 $300 141
4223 CURRUMBIN $370 34 $340 33
4224 TUGUN $340 46 $325 55
4225 BILINGA $330 142 $320 132
4226 CLEAR ISLAND WATERS $410 63 $400 45
4227 REEDY CREEK $360 124 $290 89
RENTAL BRISBANE SURROUNDS HOUSE SALES (p)
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
BRISBANE CITY LAND SALES (p)
JUN 14 SEP 14
57
BRISBANE SURROUNDS LAND SALES (p)
Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
JUN 14 SEP 14
GOLD COAST LAND SALES (p)
JUN 14 SEP 14
<$250,000 (p) Preliminary. See Source: REIQ, data provided 18 QUEENSLAND MARKET MONITOR
<$350,000 $350,000+ TOOWOOMBA 294
HOUSE SALES JUN 14 SEP 14
184
296
208
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
<$350,000 $350,000+ FRASER TOOWOOMBA LAND SALES (p)
JUN 14 SEP 14
BRISBANE CITY HOUSE SALES (p)
JUN 14 SEP 14
1900
185
COAST HOUSE SALES JUN 14 SEP 14
41
194
46
24
57
(p) Preliminary. See Source: REIQ, data provided (p) Preliminary. Source: REIQ, LAND
BRISBANE CITY UNIT SALES (p)
363
JUN 14 SEP 14
860
454
384
875
508
62 45
54
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
JUN 14 SEP 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
GOLD COAST HOUSE SALES (p)
JUN 14 SEP 14
516
57
197
<$350,000 $350,000+ BUNDABERG FRASER COAST LAND SALES (p)
BRISBANE SURROUNDS UNIT SALES (p)
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
JUN 14 SEP 14
260
JUN 14 SEP 14
111
46
5
62
260 282
132
51
5
3 0
0 0
<$250,000 $250,000+ $350,000+
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(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.
SUNSHINE COAST & NOOSA HOUSE SALES (p)
273
BUNDABERG LAND SALES (p)
<$350,000 $350,000+ GLADSTONE GOLD COAST UNIT SALES (p)
JUN 14 SEP 14
520
JUN 14 SEP 14
451
290
36
296
560
457
276
59
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
JUN 14 SEP 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
SUNSHINE COAST & NOOSA UNIT SALES (p)
197
JUN 14 SEP 14
203 194
<$250,000 ROCKHAMPTON <$250,000 (p) Preliminary. See Source: REIQ, data 52
(p) Preliminary. Source: REIQ, <$HOUSE SALES JUN 14 SEP 14
21
<$(p) Preliminary. Source: REIQ, HOUSE SALES (JUN 14 SEP 14
<$43 40 40
49
29 31
24
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
379
71
36
3
341
59
22 9
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
88
33
8 16
102
28
10 10
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
71
SUNSHINE COAST & NOOSA LAND SALES (p)
JUN 14 SEP 14
40
1 0
49
2 0
<$250,000 $250,000+ $350,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
16
GLADSTONE LAND SALES (p)
JUN 14 SEP 14
41
2 2
60
3 4
<$250,000 $250,000+ $350,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
84
MARKET - 3 BED HOUSES
POST SEP-14 SEP-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
RENTAL MARKET - 2 BED UNITS
POST SEP-14 SEP-13
CODE LOCALITYL $/WEEK NEW BONDS $/WEEK NEW BONDS
RENTAL MARKET - 3 BED TOWNHOUSES
SALES MARKET - VACANT LAND
SUBURB NUMBER
OF SALES
MEDIAN
SALE
QTRLY
CHANGE
ANNUAL
MEDIAN
SALE
1YR
CHANGE
5YR
CHANGE
GOLD COAST CITY $430 941 $410 1047
4208 BURNSIDE $380 21 $370 27
4209 COOMERA $385 115 $370 101
4210 OXENFORD $430 17 $380 27
4211 ADVANCETOWN $410 101 $385 124
4212 HELENSVALE $490 59 $400 54
4213 BONOGIN $440 35 $430 53
4214 ARUNDEL $420 93 $410 100
4215 LABRADOR $410 98 $380 117
4216 PARADISE POINT $430 51 $420 74
4217 BENOWA $530 50 $520 67
4218 BROADBEACH $500 60 $480 64
4220 BURLEIGH HEADS $470 60 $470 55
4221 ELANORA $470 47 $420 42
4223 CURRUMBIN $500 25 $450 26
4224 TUGUN $400 11 $415 15
4225 BILINGA $420 8 N.A. 3
4226 CLEAR ISLAND WATERS $460 55 $450 63
4227 REEDY CREEK $450 33 $435 30
GOLD COAST CITY $385 1133 $375 1183
4208 BURNSIDE $360 12 $365 11
4209 COOMERA $360 159 $350 161
4210 OXENFORD $360 18 $360 13
4211 ADVANCETOWN $370 192 $360 205
4212 HELENSVALE $430 35 $445 37
4213 BONOGIN $380 42 $365 38
4214 ARUNDEL $380 33 $365 36
4215 LABRADOR $380 125 $370 132
4216 PARADISE POINT $380 86 $370 105
4217 BENOWA $440 42 $450 64
4218 BROADBEACH $450 34 $455 30
4220 BURLEIGH HEADS $390 26 $390 43
4221 ELANORA $390 32 $400 25
4223 CURRUMBIN $400 12 $400 15
4224 TUGUN $430 19 $430 27
4225 BILINGA $470 5 N.A. 3
4226 CLEAR ISLAND WATERS $440 176 $425 166
4227 REEDY CREEK $420 81 $410 68
HOUSES
166
770
1840
784
161 235
274
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
1154 1157
472
18
1272 1256
480
21
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
65
480
548
575
66 84
101
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
79
440
346
37
76
443
373
43
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
139
41
182
39
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
43
55
48
59
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
GOLD COAST CITY (LGA) 150 $234,000 -0.4% $230,000 0.2% -0.6%
GOLD COAST CITY (LGA) ^ 7 N/A N/A $360,000 4.3% -9.3%
COOMERA 38 $228,000 1.3% $225,000 -0.2% -6.0%
GILSTON 0 N/A N/A $253,000 3.7% 14.8%
HELENSVALE * f 4 N/A N/A $500,000 N/A 86.2%
ORMEAU 7 N/A N/A $220,000 -2.2% 0.0%
ORMEAU HILLS 9 N/A N/A $214,900 2.4% N/A
OXENFORD 7 N/A N/A $235,000 N/A 3.5%
PIMPAMA 17 $220,000 0.7% $219,500 -2.0% -0.2%
REEDY CREEK ~ 9 N/A N/A $320,000 12.3% 9.4%
UPPER COOMERA 32 $232,500 -2.1% $229,500 2.5% 2.0%
WILLOW VALE 2 N/A N/A $205,000 3.9% N/A
19. TOOWOOMBA HOUSE SALES (p)
JUN 14 SEP 14
(p) Preliminary. Source: REIQ, Toowoomba’s p) Preliminary. Source: REIQ, 294
FRASER COAST HOUSE SALES (p)
TOOWOOMBA UNIT SALES (p)
JUN 14 SEP 14
p) Preliminary. Source: REIQ, (JUN 14 SEP 14
(p) Preliminary. Source: REIQ, 185
(p) Preliminary. Source: REIQ, 43
FRASER COAST UNIT SALES (p)
TOOWOOMBA LAND SALES (p)
JUN 14 SEP 14
(p) Preliminary. Source: REIQ, <$JUN 14 SEP 14
(p) Preliminary. Source: REIQ, 21
p) Preliminary. Source: REIQ, 24
(p) Preliminary. Source: REIQ, <$19
REGIONAL MARKET UPDATES
41
BUNDABERG HOUSE SALES (p)
JUN 14 SEP 14
GLADSTONE HOUSE SALES (p)
BUNDABERG UNIT SALES (p)
JUN 14 SEP 14
FRASER COAST LAND SALES (p)
JUN 14 SEP 14
3 0
0 0
<$250,000 $250,000+ $350,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
GLADSTONE UNIT SALES (p)
BUNDABERG LAND SALES (p)
JUN 14 SEP 14
6
SEPTEMBER QUARTER 2014
TOOWOOMBA
HOUSES
166
BRISBANE CITY HOUSE SALES (p)
JUN 14 SEP 14
770
1840
784
1900
161 235
274
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
BRISBANE SURROUNDS HOUSE SALES (p)
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
BRISBANE CITY UNIT SALES (p)
JUN 14 SEP 14
1154 1157
JUN 14 SEP 14
875
472
18
1272 1256
508
480
21
384
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
65
GOLD COAST HOUSE SALES (p)
BRISBANE SURROUNDS UNIT SALES (p)
BRISBANE CITY LAND SALES (p)
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
JUN 14 SEP 14
480
JUN 14 SEP 14
548
575
516
JUN 14 SEP 14
57
49
66 84
101
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
79
SUNSHINE COAST & NOOSA HOUSE SALES (p)
GOLD COAST UNIT SALES (p)
BRISBANE SURROUNDS LAND SALES (p)
JUN 14 SEP 14
440
JUN 14 SEP 14
Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
JUN 14 SEP 14
346
37
76
443
373
43
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
139
41
9
182
39
7
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
14
194
46
6
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
43
JUN 14 SEP 14
55
18
48
59
14
57
62
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Preliminary. Source: REIQ, (184
60
296
208
56
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data. UNITS
57
363
860
454
62 45
54
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
197
260
111
46
5
260 282
132
51
5
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
273
520
451
290
36
296
560
457
276
59
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
105
SUNSHINE COAST & NOOSA UNIT SALES (p)
GOLD COAST LAND SALES (p)
197
JUN 14 SEP 14
JUN 14 SEP 14
177
105
27
108
203 194
112
21
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
9 8
2 2
19
10
4
0
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
<$15
4 3
21
12
6
0
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
JUN 14 SEP 14
6 6 6
4
3 3
3
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
<$36
18
7
38
62
14
5
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data. LAND
43 40 40
29 31
24
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
379
71
36
3
341
59
22 9
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
88
33
8 16
102
28
10 10
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
71
SUNSHINE COAST & NOOSA LAND SALES (p)
35
21
10
46
21
15
JUN 14 SEP 14
40
1 0
49
2 0
<$250,000 $250,000+ $350,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
16
14
GLADSTONE LAND SALES (p)
JUN 14 SEP 14
(p) Preliminary. Source: REIQ, (2 2
60
3 4
<$250,000 $250,000+ $350,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
property market continues to perform
strongly, with sales activity still trending upwards. However
local agents say moving into the Christmas period is
typically a quieter time of year.
As it moves out of the construction phase, the local mining
sector in the Surat Basin is expected to see a drop off in
growth of around two-to-three per cent, with a resultant
easing in employment.
However the region is still well supported by numerous
other major developments currently underway and due to
begin in 2015, such as the much anticipated Second Range
Crossing going to tender in early 2015.
Moving into 2015, local agents expect more of the
same, with an equally high level of confidence seen
throughout 2014.
HOUSE MARKET
Over the September quarter, preliminary house sales
numbers continued to trend upwards for the fifth
consecutive quarter. Toowoomba sales were up four per
cent, while the median house price was up one per cent.
Over the year to September, Toowoomba’s median house
price was up 7.2 per cent compared to a year ago and an
impressive 24.1 per cent compared to five years ago.
Sales activity was up predominantly in the $350,000-
plus price bracket, however local agents say that good
results have been recorded at the prestige end. One
property reportedly changed hands for more than $2
million recently.
According to local agents, confidence in Toowoomba
remains high thanks to the ongoing economic
development in the region. This is despite the easing in
employment in the mining sector and the drought which
is beginning to affect some of the retailers in Toowoomba.
UNIT MARKET
Toowoomba’s unit market also performed well over the
quarter with sales volumes up 21 per cent compared to
the previous quarter. Local agents say investor activity has
seen a number of new unit and townhouse developments
come onto the market. However this level of activity from
investors is starting to wane, with many believing the unit
market is nearing over supply.
Despite strong activity at the affordable end of the market,
the median unit price in Toowoomba increased 2.5 per
cent over the quarter, and 8.5 per cent over the year
to September.
The strongest increase in activity was seen in the
$250,000-plus price point, which nearly doubled over
the quarter. All other price points saw a slight drop off
in activity.
RENTAL MARKET
In Toowoomba, the rental market continues to remain
tight; however it was one of the few regions to record a
slight easing in its vacancy, up 0.1 percentage points to
1.6 per cent. Local agents say that Toowoomba’s “healthy”
rate of vacancy sits around the two per cent mark, which
the region has stayed below for all but two periods since
June 2008. As such, median weekly rents from the RTA
continue to remain stable or record steady growth.
Toowoomba’s property
market continues to
perform strongly, with
sales activity still trending
upwards.