Queensland's residential property markets are showing signs of recovery, with strong sales activity in southeast Queensland and many tourism centers. However, the mining regions are experiencing slower sales. House markets are strengthening across most areas except mining regions. Unit markets are also improving overall but lag behind houses. Rental vacancy rates decreased in most areas over the past quarter as demand increased, though mining regions still have high vacancies.
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Queensland property market recovery underway suburb by suburb
1. your state-wide property research guide suburb by suburb
REIQ
ISSUE22
QUEENSLANDMARKETMONITORISSUE22
MARCH QTR 2014
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Queensland’s key real estate markets are firmly in
recovery phase, with strong sales in the southeast
corner and a number of the state’s regional tourism
centres reflecting growing market confidence.
The continued trend upwards in sales activity, however,
is varied across the major local government areas, with
a tapering off activity recorded in the state’s regional
mining centres, resulting in a two-tiered effect for the
overall Queensland residential market.
According to the Australian Bureau of Statistics, the
number of dwellings financed was down over the month
of January, but over the remainder of the March quarter,
all buyer types recorded increased activity.
STRONG
SOUTHEAST
RECOVERY
2. 2 QUEENSLAND MARKET MONITOR
HOUSE MARKETS
Southeast Queensland, including Toowoomba and
the state’s coastal tourism centres continue to show
strengthening market conditions, while the residential
property markets in regional mining centres of Gladstone
and Mackay have recorded easing conditions.
In Greater Brisbane, sales activity remained consistent
with the December quarter, however with a shift in
increased activity weighted towards the outer regions,
where the median house price was down 1.1 per cent.
Metropolitan Brisbane itself saw a drop of 7 per cent in
preliminary house sales numbers while activity was strong
elsewhere in the Brisbane statistical division.
Sales activity was most improved in the Moreton Bay
regional council area, which saw an increase of 7 per
cent in preliminary sales numbers over the March quarter.
Ipswich and Redland closely followed with both recording
an increase of 6 per cent.
The state’s tourism centres continue to perform strongly,
with all four regions – Gold Coast, Sunshine Coast, Fraser
Coast and Cairns – posting solid growth in their median
house prices. On the Sunshine Coast preliminary sales
numbers were up 4 per cent over the quarter, while over
the year to March, the Gold Coast was the star performer
with an increase of over 20 per cent. And while activity
was down slightly over the March quarter in Cairns, over
the year to March activity was up a healthy 15 per cent.
Median house price growth across these four tourism
regions have now begun trending upwards following two
consecutive quarters of positive results.
The state’s mining centres, however, continue to record
subdued market conditions with sales activity down
in Gladstone and Rockhampton by more than 10 per
cent. Despite the easing sales volumes in Gladstone,
median house prices have only recorded drops at an
annual moving trend of less than -2.0 per cent for the last
two quarters.
In the remaining regional centres of Toowoomba,
Townsville and Bundaberg, preliminary sales numbers
were generally steady or down slightly over the quarter.
However figures for the year ending March show a
strengthening Toowoomba market, with sales numbers up
18 per cent compared to the previous 12 months.
Queensland market update 1
State-Wide Summary (cont’d) 2
REIQ Explanatory notes 5
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
Average Vendor Discount
Average Days on Market
Total Listings
Rental Market Indicators 38
Gross rental yields
Residential vacancy rates
TABLE OF CONTENTS
REIQ
STATE-WIDE
SUMMARY CONTINUED
Median house
price growth
across these
four tourism
regions have
now begun
trending
upwards
Clarification:
The REIQ incorrectly
reported in a media
release issued on
Wednesday 21 May
that total house
sales numbers in
Queensland were up
8.3 per cent over the
March quarter 2014.
In fact, total house
sales numbers in
Queensland were
down 1.8 per cent
in this period. The
REIQ regrets any
inconvenience caused
by this error.
3. 292 299
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
770
1163 1148
669
116
858
1354 1411
811
107
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
QUEENSLAND UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
732
153
66 28 2
791
195
84
29 4
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
QUEENSLAND LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
292 299
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
770
1163 1148
669
116
858
1354 1411
811
107
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
QUEENSLAND UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
732
153
66 28 2
791
195
84
29 4
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
QUEENSLAND LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
QUEENSLAND - PRICEPOINTS
3024
3632
2856
292
2865
3576
2896
299
<$350,000 $350,000+ $500,000+ $1m+
QUEENSLAND HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
770
1163 1148
669
116
858
1354 1411
811
107
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
QUEENSLAND UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
732
153
66 28 2
791
195
84
29 4
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
QUEENSLAND LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary sales, excluding agents advice sales where no sale price is disclosed.
Source: REIQ, data provided by RP Data.
MARCH QUARTER 2014 HOUSES (<2400) UNITS & TOWNHOUSES VACANT LAND (<2400)
LGA
MEDIAN
SALE
MAR14
QTRLY
CHANGE
SALES
ACTIVITY
TREND
MEDIAN
SALE MAR14
QTRLY
CHANGE
SALES
ACTIVITY
TREND
MEDIAN
SALE
MAR14
QTRLY
CHANGE
SALES
ACTIVITY
TREND
SOUTHEAST QLD
BRISBANE (SD) $460,000 -1.1% STEADY $385,000 0.0% UP $219,000 1.9% UP
BRISBANE CITY (LGA) $560,000 -0.4% DOWN $415,000 1.7% UP $320,000 -4.3% UP
IPSWICH CITY (LGA) $301,680 -2.1% UP $230,000 5.0% ~ t STEADY $172,000 -0.3% UP
LOGAN CITY (LGA) $352,000 2.0% STEADY $227,500 -5.2% UP $195,500 23.0% ~ * UP
MORETON BAY (LGA) $382,000 -1.5% UP $308,500 3.2% UP $211,635 -7.6% UP
REDLAND CITY (LGA) $460,000 1.0% UP $322,500 -8.1% ~ f UP $40,000 33.3% ~ f DOWN
GOLD COAST CITY (LGA) $500,000 4.2% ~ STEADY $350,000 2.9% UP $231,000 0.4% UP
SUNSHINE COAST (LGA) $465,000 2.0% UP $361,000 6.2% UP $245,000 0.4% UP
MAJOR REGIONAL QLD
TOOWOOMBA (LGA) $325,000 -1.2% STEADY $270,000 2.7% UP $172,000 11.0% ~ UP
FRASER COAST (LGA) $300,000 2.9% STEADY $270,000 22.7% * f UP $150,000 -5.4% ~ STEADY
BUNDABERG (LGA) $269,500 -3.8% ~ DOWN $234,500 -3.7% ~ STEADY $127,500 4.5% UP
GLADSTONE (LGA) $417,500 -0.6% DOWN N/A N/A STEADY $195,000 -6.3% * DOWN
ROCKHAMPTON (LGA) $329,500 3.0% DOWN $375,000 34.2% * f UP $179,500 -0.2% ~ DOWN
MACKAY (LGA) $405,000 -1.2% DOWN $316,000 14.2% ~ f STEADY $222,000 -1.3% UP
TOWNSVILLE (LGA) $364,000 2.0% STEADY $265,000 -5.4% ~ UP $166,000 3.3% STEADY
CAIRNS (LGA) $375,000 5.6% ~ DOWN $212,000 15.5% * t UP $175,000 2.9% UP
12MTHS
ENDING FEB-14
HOUSES (ALL) UNITS (ALL)
LGA
SALES
MAKING
PROFIT
DAYS
ON
MARKET
AVERAGE
VENDOR
DISCOUNT
SALES
MAKING
PROFIT
DAYS
ON
MARKET
AVERAGE
VENDOR
DISCOUNT
SOUTHEAST QLD
BRISBANE 93% 65 -5.7% 84% 77 -5.2%
IPSWICH 78% 90 -7.1% 63% 136 -7.3%
LOGAN 84% 81 -6.1% 74% 103 -7.1%
MORETON BAY 82% 80 -5.9% 63% 110 -6.2%
REDLAND 85% 75 -6.0% 77% 98 -5.2%
GOLD COAST 79% 79 -6.3% 61% 101 -7.5%
SUNSHINE COAST 77% 96 -6.3% 64% 111 -6.9%
MAJOR REGIONAL QLD
TOOWOOMBA 95% 71 -4.8% 92% 75 -4.4%
BUNDABERG 81% 84 -6.8% 52% 140 -7.9%
CAIRNS 78% 81 -6.3% 63% 109 -6.1%
FRASER COAST 74% 115 -7.6% 70% 134 -10.4%
GLADSTONE 85% 119 -9.5% 81% 110 -6.7%
MACKAY 86% 91 -8.0% 71% 117 -9.3%
ROCKHAMPTON 87% 92 -7.4% 54% 124 -9.7%
TOWNSVILLE 76% 90 -7.4% 50% 103 -7.8%
3
STATE-WIDE SUMMARY
MARCH QUARTER 2014
SEE PAGE 37 FOR FULL ON THE MARKET
STATISTICS BY LOCAL GOVERNMENT AREA
4. UNIT AND TOWNHOUSE MARKETS
Typically lagging behind the house market, the
Queensland unit and townhouse market has now also
begun its path to recovery, with sales volumes also up
across the state and the Greater Brisbane council areas
again recording the strongest increase in sales activity.
Unit sales were also strong in the tourism centres, with
the Cairns unit and townhouse market recording solid
buyer activity in the $250,000 to $350,000 price bracket,
contributing to an increase of 15.5 per cent in the region’s
median unit sale price to $212,000.
The Fraser Coast also posted a significant increase of 22.7
per cent in its median unit and townhouse sale price with
strong sales in the $350,000-plus bracket.
Prestige unit sales were also healthy on both the Gold and
Sunshine Coasts, with both recording solid median sales
price growth as well as overall unit sales activity.
According to local agents, investor confidence in the
Queensland residential property market continues to
strengthen, particularly from interstate investors who
continue to find better value for money in the Sunshine
State compared to those below the border.
RENTAL MARKETS
Following an easing in vacancy rates three months ago,
the majority of Queensland’s rental markets returned
to tighter conditions. Stronger tenant demand, coupled
with investor stock being sold to owner occupiers, were
common theme across the State.
The REIQ’s latest Residential Rental Survey, carried out
in March across all REIQ accredited agencies has found
that the majority of the state recorded lower vacancy rates
compared to three months ago.
Despite increased investor activity across Queensland,
local agents report increased number of sales of former
investment properties to owner-occupiers, reducing the
overall rental pool in some areas.
Queensland’s tourist centres and Toowoomba continue
to experience tight market conditions, however with the
slowdown in the mining industry the likes of Gladstone,
Mackay and Rockhampton continue to experience a
glut of vacancies, despite some improvement in their
respective vacancy rates.
According to the latest results from Residential Tenancies
Authority, median weekly rents remained relatively steady
in SEQ and the tourism centres. However in the mining
regions, where market conditions have been weak for a
year now, market rents are easing.
(-) steady (u) up (d) down * change greater than 0.5 pts
(-) steady (u) up (d) down * change greater than 0.5 pts
(-) steady (u) up (d) down * change greater than $20
STATE-WIDE
SUMMARY CONTINUED
4 QUEENSLAND MARKET MONITOR
STATE-WIDE SUMMARY
MEDIAN WEEKLY RENTS
LGA 3 BED H 2 BED F 3 BED T
SOUTH EAST QUEENSLAND
BRISBANE CITY $420 UP $400 UP $410 STEADY
IPSWICH CITY $300 UP $248 UP $310 UP
LOGAN CITY $330 STEADY $260 UP $330 STEADY
MORETON BAY $330 STEADY $280 UP $330 STEADY
REDLAND CITY $380 UP $320 UP $385 UP
GOLD COAST CITY $430 UP $360 UP $380 UP
SUNSHINE COAST** $400 UP* $320 UP $375 STEADY
MAJOR REGIONS
TOOWOOMBA $300 UP $245 UP $310 UP*
FRASER COAST $280 UP $225 UP $310 UP
BUNDABERG $285 UP $240 UP $290 DOWN
GLADSTONE $350 DOWN* $300 DOWN* $400 DOWN*
ROCKHAMPTON $310 DOWN* $240 DOWN* N.A. N.A.
MACKAY $370 DOWN* $290 DOWN* $380 DOWN*
TOWNSVILLE CITY 1 $350 STEADY $285 DOWN $295 DOWN
CAIRNS 1 $350 UP $280 UP $260 UP*
VACANCY RATES
LGA MAR 14 TREND
SOUTH EAST QUEENSLAND
BRISBANE CITY 2.3% DOWN*
IPSWICH CITY 1.8% STEADY
LOGAN CITY 1.2% DOWN*
MORETON BAY 1.5% DOWN
REDLAND CITY 1.6% DOWN*
GOLD COAST CITY 2.2% STEADY
SUNSHINE COAST 1.2% STEADY
MAJOR REGIONS
TOOWOOMBA 1.4% STEADY
FRASER COAST 2.5% DOWN*
BUNDABERG 4.5% STEADY
GLADSTONE 6.4% DOWN*
ROCKHAMPTON 6.0% DOWN*
MACKAY 7.5% STEADY
TOWNSVILLE CITY 4.7% STEADY
CAIRNS 2.2% STEADY
GROSS RENTAL YIELDS
LGA HOUSES UNITS
SOUTH EAST QUEENSLAND
BRISBANE CITY 3.9% STEADY 5.0% STEADY
IPSWICH CITY 5.2% STEADY 5.6% DOWN
LOGAN CITY 4.9% DOWN 5.9% UP
MORETON BAY 4.5% STEADY 4.7% STEADY
REDLAND CITY 4.3% STEADY 5.2% UP
GOLD COAST CITY 4.5% STEADY 5.3% STEADY
SUNSHINE COAST 4.5% STEADY 4.6% DOWN
MAJOR REGIONS
TOOWOOMBA 4.8% UP 4.7% STEADY
FRASER COAST 4.9% STEADY 4.3% DOWN*
BUNDABERG 5.5% UP 5.3% UP*
GLADSTONE 4.4% DOWN N/A N/A
ROCKHAMPTON 4.9% DOWN 3.3% DOWN*
MACKAY 4.8% STEADY 4.8% DOWN*
TOWNSVILLE CITY 5.0% STEADY 5.6% UP
CAIRNS 4.9% STEADY 6.9% DOWN*
SEE PAGE 38 FOR FULL RENTAL MARKET STATISTICS BY
LOCAL GOVERNMENT AREA
5. 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).
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.
Sales data for the new deamalgamated local government
areas is not yet available.
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
^
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
PRICE POINT GRAPHS
All data contained within these graphs represent
preliminary sales numbers available as at five weeks
after the end of each quarterly period 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
(see Research Methodology).
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.
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)
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
5MARCH QUARTER 2014
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.
Source: RP Data (www.rpdata.com.au)
6. 146
787
1529
171112
722
1401
164
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE CITY HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
908 939
362
14
973 972
409
18
<$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS HOUSE SALES (p)
DEC 13 MAR 14
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
115
517
418
6570
480 490
77
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
101
394
278
33
81
437
311
31
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelim
Source: R
(p) Prelim
Source: R
(p) Prelim
Source: R
(p) Prelim
Source: R
47
294
560
314
44
330
651
371
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
132 132
79
36
182
207
99
43
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS UNIT SALES (p)
DEC 13 MAR 14
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
204
380
292
192
235
447
391
241
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
74
187
132
7979
181
164
109
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelim
Source: R
(p) Prelim
Source: R
(p) Prelim
Source: R
(p) Prelim
Source: R
16
32 28
1013
59
38
9
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
220
49
14 7
243
53
21 5
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
DEC 13 MAR 14
Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
45
24
3 6
64
26
5 6
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
50
SUNSHINE COAST LAND SALES (p)
DEC 13 MAR 14
(p) Prelim
Source: RE
(p) Prelimi
Source: RE
(p) Prelim
Source: RE
BRISBANE
CITY
The Brisbane residential property market recorded mixed
results over the March quarter, with house sales activity
down 7 per cent and a steady median house price, while
unit sales activity was strong, up 13 per cent and increase
of 1.7 per cent in the median sale price.
With growing confidence in the property market, more
vendors who had been holding off in anticipation of better
market conditions are now bringing their properties onto
the market. As a result, the total number of listings for the
12 month period for both houses and units were up 1.6 per
cent compared to a year ago.
HOUSE MARKET
Despite a slowdown in activity for the quarter, preliminary
sales numbers for the year ending March were up 13 per
cent compared to the previous year.
Top performing suburbs were typically middle-to-outer ring
suburbs with sales activity up the highest for the suburbs
of Kedron, Wynnum West, Carseldine and Mitchelton.
According to local agents on Brisbane’s northside, the
benefits of improved infrastructure projects were starting
to flow onto local property prices.
Across Brisbane, median house price growth was most
prevalent in the middle-to-upper priced suburbs, evidence
that confidence in the local property market remains
strong. Suburbs from various parts of the city recorded
solid annual growth including Northgate, Hawthorne,
Macgregor and St Lucia, all with medians in excess of
$500,000.
Sales activity for the quarter eased across all price points,
however the $1 million dollar plus sector remained the
steadiest, with 164 preliminary sales recorded compared
to 171 during the December quarter. The $500,000-plus
price bracket remains the most popular recording 1,401
preliminary house sales during the period.
Average days on market for the capital city were also
markedly improved on a year ago, sitting at 65 days for
house sales.
UNIT AND TOWNHOUSE MARKET
Unlike the house market which saw an easing of activity,
the unit and townhouse market recorded a surge in
activity with strong interest in the new apartment sector.
With multiple new unit developments coming onto the
market, it was no surprise to see the Brisbane local
government area record the highest number of sales in
the $500,000 to $1 million price range, with 371 settled
unit sales recorded, 58 per cent of which were located
within inner Brisbane suburbs.
Over the March quarter the Brisbane CBD, New Farm and
Fortitude Valley recorded the highest number of unit sales.
Compared to the December quarter however, it was the
city’s middle-to-outer suburbs, such as Everton Park and
Carina that recorded the highest increase in activity.
RENTAL MARKET
In Brisbane, the overall vacancy rate for the metropolitan
area was back down to 2.3 per cent, as seen at the end
of September last year. Excluding the spike recorded in
December, the Brisbane vacancy rate has been around the
2 to 2.3 per cent mark for over 12 months now.
As expected, the Brisbane inner city rental market
returned to a healthier vacancy rate following a spike
in December. This however has reportedly largely been
a result of easing asking rents to ensure vacancies are
refilled quickly and also to compete with the new stock
coming onto the market. Local agents are also reporting
tenants deciding to move further out where they can
achieve a larger property for the same weekly rent.
6 QUEENSLAND MARKET MONITOR
BRISBANE MARKET UPDATES
10. it was no surprise to
see the Brisbane local
government area record the
highest number of sales in
the $500,000 to $1 million
price range
10 QUEENSLAND MARKET MONITOR
BRISBANE MARKET UPDATES
BRISBANE CITY $410 1859 $410 1824
BAYSIDE $395 77 $395 64
4178 WYNNUM $400 36 $390 36
4179 MANLY $395 41 $410 28
CITY INNER $570 90 $560 111
4000 BRISBANE CITY $550 8 N.A. 3
4006 BOWEN HILLS $520 13 $500 16
4064 PADDINGTON $600 10 $610 16
4066 TOOWONG $520 14 $560 19
4067 ST LUCIA $570 22 $530 33
4101 WEST END $660 10 $650 10
4169 EAST BRISBANE $570 8 $580 9
NORTH - INNER $490 139 $470 142
4007 ASCOT $580 14 $495 8
4011 CLAYFIELD $520 14 $550 19
4012 NUNDAH $450 20 $450 24
4030 LUTWYCHE $475 21 $475 10
4031 GORDON PARK $450 18 $460 17
4051 ALDERLEY $490 52 $470 64
NORTH - OUTER $390 195 $370 249
4013 NORTHGATE $410 15 $430 15
4017 BRACKEN RIDGE $365 36 $365 52
4018 FITZGIBBON $360 29 $370 26
4032 CHERMSIDE $430 36 $450 36
4034 ASPLEY $390 68 $390 61
4036 BALD HILLS $360 10 $284 59
NORTH WEST - INNER $500 29 $510 21
4059 KELVIN GROVE $500 18 $500 14
4060 ASHGROVE $490 7 N.A. 3
NORTH WEST - OUTER $420 49 $420 56
4053 STAFFORD $420 38 $420 49
4054 ARANA HILLS $385 10 N.A. 4
SOUTH - INNER $450 179 $440 168
4103 ANNERLEY $500 38 $470 30
4104 YERONGA $470 23 $465 22
4105 MOOROOKA $450 25 $440 19
4120 GREENSLOPES $510 25 $490 14
4121 HOLLAND PARK $450 5 $450 16
4122 MANSFIELD $420 62 $410 66
SOUTH - OUTER $390 458 $390 410
4107 SALISBURY $485 6 $475 6
4109 MACGREGOR $410 77 $410 71
4110 ACACIA RIDGE $340 56 $345 7
4112 KURABY $375 30 $370 21
4113 EIGHT MILE PLAINS $405 148 $400 165
4115 ALGESTER $385 46 $370 28
4116 CALAMVALE $385 92 $375 107
SOUTH EAST - INNER $480 259 $470 261
4151 COORPAROO $475 24 $500 14
4152 CAMP HILL $451 123 $440 124
4170 CANNON HILL $495 71 $480 88
4171 BALMORAL $610 29 $560 23
4172 MURARRIE $485 12 $495 12
SOUTH EAST - OUTER $410 87 $405 65
4153 BELMONT $435 12 $430 15
4154 GUMDALE $410 49 $410 28
4173 TINGALPA $385 24 $375 19
SOUTH WEST - INNER $475 111 $460 104
4068 CHELMER $525 55 $550 49
4075 CORINDA $410 56 $400 55
SOUTH WEST - OUTER $350 186 $350 173
4073 SEVENTEEN MILE ROCKS $425 9 $395 14
4074 JINDALEE $455 17 $440 26
4077 DOOLANDELLA $345 123 $345 94
4078 FOREST LAKE $360 29 $350 14
4109 MACGREGOR $400 38 $385 46
SOUTH EAST - INNER $375 440 $375 452
4151 COORPAROO $360 185 $360 190
4152 CAMP HILL $360 46 $370 41
4170 CANNON HILL $375 96 $380 127
4171 BALMORAL $425 109 $450 92
SOUTH EAST - OUTER $320 6 N.A. 3
4173 TINGALPA $320 5 N.A. 3
SOUTH WEST - INNER $385 426 $380 406
4068 CHELMER $385 358 $385 354
4075 CORINDA $365 68 $345 52
SOUTH WEST - OUTER $335 23 $325 23
4069 BROOKFIELD $395 5 N.A. 2
4076 DARRA $260 5 N.A. 4
4078 FOREST LAKE $340 12 $330 12
RENTAL MARKET - 2 BED UNITS (CONT’D)
MAR-14 MAR-13
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
RENTAL MARKET - 3 BED TOWNHOUSES
MAR-14 MAR-13
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
11. GREATER
BRISBANE
11MARCH QUARTER 2014
BRISBANE MARKET UPDATES
With the housing market in SEQ well into the recovery
phase, the greater Brisbane area continued to post strong
sales activity over the March quarter. Both the house and
unit markets recorded increases in activity as well as
shorter days on market compared to a year ago. Median
sale price growth was varied, but largely due to varying
segments of the market performing better than others.
HOUSE MARKET
Over the March quarter 2014 the Brisbane Statistical
Division recorded a drop of 1.1 per cent in its median
house price to $460,000. This was a result of strong sales
activity in the affordable outer suburbs.
Ipswich, Redland and Moreton Bay all recorded strong
sales activity growth, while Logan also recorded
healthy activity.
Median house price growth is still subdued, except for
Logan, where sale prices have been trending upwards for
three consecutive quarters now. With favourable market
conditions making vendors more confident, total listings
are up on 12 months ago, most notably in the Logan and
Moreton Bay regions.
In Ipswich where buyer demand is reportedly very strong,
listing numbers are down 5 per cent compared to a year
ago. Despite this, the region still has the highest days
on market for the greater Brisbane region as well as the
largest average vendor discount at 7.1 per cent.
According to local agents, investor levels remain
robust with many favouring houses over units, due to
better rental returns. Buyers demand is said to be most
prominent for houses priced up to $330,000 and this is
reflected in the price point data for the quarter, which saw
the sub-$350,000 bracket record the highest increase in
preliminary sales numbers.
Top increases in preliminary sales numbers were recorded
in Redbank Plains in Ipswich, Logan’s Shailer Park, North
Lakes in Moreton Bay and Victoria Point in Redland City.
With medians no higher than the mid-$400,000-mark,
these suburbs are increasing in popularity given good
value sale prices and access to local amenities and major
arterial roads.
UNIT AND TOWNHOUSE MARKET
The unit and townhouse market in the greater Brisbane
area is leading the way with sales activity up 18 per cent
across the region. Logan City and Moreton Bay local
government areas recorded the highest increases in
sales volumes, up 50 and 39 per cent respectively over the
March quarter.
Over the quarter, sales were up in Caboolture and North
Lakes, where some new townhouse developments have
proven popular with buyers. Capalaba in Redland City
also posted a healthy increase in sales volumes, as did
Marsden in Logan City and Goodna in Ipswich.
Average days on market for most of the surrounding
council areas have shortened compared to a year ago,
with Logan City and Redland City posting the best
improvement. Average vendor discounting for units and
townhouses has also reduced, with most areas recording
an improvement of at least 2.2 per cent.
RENTAL MARKET
As at the end of March, the greater Brisbane area saw the
largest decline in its vacancy rate, down to 1.9 per cent at
the end of March. Logan City and Redland City recorded
the largest drops, both down 0.8 percentage points to 1.2
and 1.6 per cent respectively.
Local agents had reported a slowdown in new residential
developments coupled with increased tenant demand. In
recent months however, a number of new developments
popular with investors have come onto the market, which
local agents say will keep a lid on asking rents.
Despite the tight rental conditions, median weekly rents
from the RTA have continued to remain relatively steady
over the March quarter.
15. With the housing market in
SEQ well into the recovery
phase, the greater Brisbane
area continued to post strong
sales activity over the March
quarter
Find out more
EXPERTS’ GUIDE
TO BUYING PROPERTY
INFORMATION CAN BE HARD TO FIND
BRISBANE - Sat 23 Aug - AND - Sat 11 Oct
15MARCH QUARTER 2014
BRISBANE MARKET UPDATES
IPSWICH CITY $310 134 $305 110
4300 AUGUSTINE HEIGHTS $330 56 $350 30
4301 COLLINGWOOD PARK $310 20 $300 20
4304 BLACKSTONE $305 26 $300 30
4305 BASIN POCKET $305 30 $315 29
LOGAN CITY $330 455 $330 380
4114 KINGSTON $320 61 $310 48
4118 BROWNS PLAINS $340 66 $340 56
4119 UNDERWOOD $380 16 $350 11
4123 PRIESTS GULLY $350 7 $350 11
4127 CHATSWOOD HILLS $320 51 $320 47
4128 KIMBERLEY PARK $350 7 $320 12
4130 CARBROOK $370 5 N.A. 3
4131 LOGANLEA $350 29 $350 17
4132 CRESTMEAD $340 67 $340 43
4133 CHAMBERS FLAT $315 22 $315 27
4207 ALBERTON $320 121 $320 96
MORETON BAY REGIONAL $330 605 $330 496
4019 CLONTARF $340 15 $310 17
4020 NEWPORT $335 12 $320 11
4021 KIPPA-RING $335 49 $325 65
4035 ALBANY CREEK $380 8 $380 5
4500 BRAY PARK $340 40 $335 39
4501 LAWNTON $300 5 $340 10
4502 FRENCHS FOREST $320 11 $320 18
4503 DAKABIN $340 183 $335 134
4504 NARANGBA $340 7 $340 14
4505 BURPENGARY $295 38 $315 28
4506 MOORINA $310 19 $300 20
4508 DECEPTION BAY $300 84 $305 43
4509 MANGO HILL $345 111 $340 48
4510 BALINGOOL $290 19 $290 28
REDLAND CITY $385 114 $380 82
4157 CAPALABA $370 17 $350 6
4158 THORNESIDE $385 24 $380 9
4159 AQUATIC PARADISE $415 5 N.A. 4
4160 EROBIN $385 21 $375 11
4163 CLEVELAND $400 28 $370 30
4165 MOUNT COTTON $390 16 $385 16
LOCKYER VALLEY REGIONAL N.A. 7 N.A. 9
4343 ADARE $250 6 $275 8
IPSWICH CITY $248 155 $245 132
4300 AUGUSTINE HEIGHTS $255 37 $260 27
4301 COLLINGWOOD PARK $260 21 $260 16
4304 BLACKSTONE $240 15 $220 22
4305 BASIN POCKET $240 77 $240 66
LOGAN CITY $260 167 $255 213
4114 KINGSTON $250 52 $250 65
4127 CHATSWOOD HILLS $310 19 $320 27
4128 KIMBERLEY PARK $290 10 $285 6
4131 LOGANLEA $260 6 $260 8
4133 CHAMBERS FLAT $239 6 $172 15
4207 ALBERTON $260 57 $250 73
4280 JIMBOOMBA $265 5 N.A. 2
MORETON BAY REGIONAL $280 460 $270 465
4019 CLONTARF $280 71 $265 71
4020 NEWPORT $310 82 $310 84
4500 BRAY PARK $290 33 $285 22
4501 LAWNTON $280 11 $270 10
4503 DAKABIN $280 48 $275 42
4505 BURPENGARY $285 6 $265 9
4506 MOORINA $265 12 $205 22
4507 BANKSIA BEACH $285 69 $265 64
4508 DECEPTION BAY $260 11 $290 19
4509 MANGO HILL $300 18 $300 9
4510 BALINGOOL $255 81 $240 86
REDLAND CITY $320 72 $310 82
4157 CAPALABA $320 7 $225 19
4158 THORNESIDE $295 5 $295 6
4159 AQUATIC PARADISE $304 5 $320 8
4160 EROBIN $300 7 $325 6
4163 CLEVELAND $350 37 $345 33
4165 MOUNT COTTON $173 5 N.A. 4
LOCKYER VALLEY REGIONAL $240 15 $230 25
4343 ADARE $240 10 $230 20
RENTAL MARKET - 2 BED UNITS
MAR-14 MAR-13
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
RENTAL MARKET - 3 BED TOWNHOUSES
MAR-14 MAR-13
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
16. 16 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
Prestige acreage house sales were also selling well,
resulting in the Gold Coast’s acreage house price
increasing 9 per cent to $687,000 for the March quarter.
Investors are said to be increasingly active, with many
looking to purchase affordably priced low rise properties
priced and mid-range prices in high rise apartments.
UNIT AND TOWNHOUSE MARKET
The Gold Coast unit and townhouse market performed
strongly over the quarter, with preliminary sales numbers
up 19 per cent and the median unit price up 2.9 per
cent to $350,000. All price points recorded an increase
in activity over the quarter with the highest increase in
demand recorded in the $350,000-plus price bracket, up 34
per cent.
Prestige waterfront unit sales were also selling well with
strong demand for properties located in the suburbs of
Palm Beach, Paradise Point, Main Beach and Southport.
New unit sales were also up in the suburb of Biggera
Waters with sales in two highrise developments located
within the Harbour Quays Estate.
According to local agents, the $670 million revamp
of Pacific Fair shopping centre is creating jobs and
fuelling demand for rental properties. After Southport
and Labrador, Broadbeach recorded the third highest
preliminary unit sales numbers for the quarter.
RENTAL MARKET
According to the REIQ’s March rental survey, tenant
demand on the Gold Coast remains high, however
increased investor activity is reportedly helping offset this,
seeing the vacancy rate easing to 2.2 per cent.
Despite the increase in rental stock, some local agents
say these are the tightest conditions they’ve seen in a
few years, with vacancies taking only 1 to 2 weeks on the
market.Median weekly rents from the RTA are up, with
three bedroom house rentals posting an increase of $15
and two bedroom units up $10 for the March quarter
compared to 12 months ago.
HOUSE SALES MARKET
Over the March quarter 2014, the Gold Coast residential
property market was one of the star performers with
solid median house price growth and consistent sales
activity. Over the year to March, the Gold Coast recorded
the highest increase in sales activity of all major local
government areas, with preliminary sales numbers
showing an increase of around 20 per cent.
With growing confidence in the Gold Coast market, the
median house price increased 4.2 per cent to $500,000
with the $500,000-plus price bracket taking over as the
most popular price point, after posting an increase of 17
per cent in preliminary sales numbers. The one million
dollar plus price bracket also recorded strong increased
activity, while the affordable end of the market saw a
decline in activity.
According to local agents, the Gold Coast market was
starting to show signs of turning the corner and this was
reflected by solid median price increases. And while
buyers were still somewhat cautious, properties that
stacked up were selling well.
Strong demand was evident for properties in suburbs
surrounding the Gold Coast Health and Knowledge
Precinct, with sales activity up the highest for the nearby
suburbs of Southport, Ashmore, Labrador and Parkwood
over the year to March.
Sales over the year were also strong for the northern
corridor suburbs of Ormeau, Upper Coomera, Helensvale
and Oxenford.
Properties are spending less time on the market with both
houses and units recording lower average days on market
compared to 12 months ago. Average vendor discounting
was also improved, showing growing confidence in the
market from both buyers and sellers.
Local agent’s report increasing demand for prestige
property with many properties selling well above the
reserve price at auction, with waterfront property in
particular selling well.
Such sales were seen in the suburbs of Biggera Waters,
Currumbin Waters and Paradise Point, resulting in
significant increases in their median house price over the
March quarter.
GOLD COAST
18. Despite the increase in
rental stock, some local
agents say these are the
tightest conditions they’ve
seen in a few years
18 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
4275 BENOBBLE $440 9 $380 11
4285 ALLENVIEW $300 51 $310 45
4307 COLEYVILLE $250 5 N.A. 4
4310 ALLANDALE $275 15 $265 10
GOLD COAST CITY $430 1032 $415 1046
4208 BURNSIDE $380 32 $365 30
4209 COOMERA $370 106 $365 93
4210 OXENFORD $420 18 $385 20
4211 ADVANCETOWN $400 130 $390 115
4212 HELENSVALE $449 61 $460 69
4213 BONOGIN $430 42 $420 48
4214 ARUNDEL $420 90 $410 85
4215 LABRADOR $400 115 $390 113
4216 PARADISE POINT $400 76 $390 73
4217 BENOWA $550 54 $525 51
4218 BROADBEACH $510 56 $490 66
4220 BURLEIGH HEADS $470 52 $450 76
4221 ELANORA $460 43 $450 43
4223 CURRUMBIN $460 27 $460 32
4224 TUGUN $400 9 $415 14
4225 BILINGA $395 7 $480 5
4226 CLEAR ISLAND WATERS $460 70 $440 67
4227 REEDY CREEK $460 42 $430 41
SCENIC RIM REGIONAL $330 119 $350 120
4270 TAMBORINE $370 5 N.A. 4
4271 EAGLE HEIGHTS $385 11 $380 16
4272 MOUNT TAMBORINE $380 19 $380 21
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
115
517
418
6570
480 490
77
<$350,000 $350,000+ $500,000+ $1m+
GOLD COAST HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
101
394
278
33
81
437
311
31
<$350,000 $350,000+ $500,000+ $1m+
SUNSHINE COAST HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
146
42
10
156
21
7
<$350,000 $350,000+ $500,000+
BUNDABERG HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Preliminary
Source: REIQ,
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
21
73
27
21
51
24
<$350,000 $350,000+ $500,000+
GLADSTONE HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
1
(p) Preliminary. S
Source: REIQ, da
(p) Preliminary
Source: REIQ, d
47 44
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
132 132
79
36
182
207
99
43
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS UNIT SALES (p)
DEC 13 MAR 14
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
204
380
292
192
235
447
391
241
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
74
187
132
7979
181
164
109
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
17
9
2
18
9
0
<$250,000 $250,000+ $350,000+
BUNDABERG UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelimina
Source: REIQ
18
10
1
18
9 10
<$250,000 $250,000+ $350,000+
FRASER COAST UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
2
3 3
5 5
7
<$250,000 $250,000+ $350,000+
GLADSTONE UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Preliminary
Source: REIQ, d
(p) Prelimina
Source: REIQ
(p) Preliminar
Source: REIQ,
<$250,000 $250,000+ $350,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
16
32
28
1013
59
38
9
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
220
49
14 7
243
53
21 5
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS LAND SALES (p)
DEC 13 MAR 14
Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
45
24
3 6
64
26
5 6
<$250,000 $250,000+ $350,000+ $500,000+
GOLD COAST LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
40
21
12
4
50
20
15
10
<$250,000 $250,000+ $350,000+ $500,000+
SUNSHINE COAST LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
25
0 0
30
1 1
<$250,000 $250,000+ $350,000+
BUNDABERG LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelimin
Source: REI
41
3
0
42
1 2
<$250,000 $250,000+ $350,000+
FRASER COAST LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
25
2 2
14
1 0
<$250,000 $250,000+ $350,000+
GLADSTONE LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelimin
Source: REIQ
(p) Prelimina
Source: REIQ
25
2 2
36
7
0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelimina
Source: REIQ
RENTAL MARKET - 3 BED HOUSES
MAR-14 MAR-13
POSTCODE LOCALITIES MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
RENTAL MARKET - 3 BED HOUSES (CONT’D)
MAR-14 MAR-13
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
GOLD COAST CITY $360 2771 $350 2772
4209 COOMERA $285 8 $280 6
4210 OXENFORD $295 21 $295 21
4211 ADVANCETOWN $330 44 $365 55
4212 HELENSVALE $390 52 $380 61
4214 ARUNDEL $216 27 $295 20
4215 LABRADOR $350 704 $340 623
4216 PARADISE POINT $350 218 $340 185
4217 BENOWA $400 603 $400 651
4218 BROADBEACH $360 321 $345 369
4220 BURLEIGH HEADS $380 195 $360 210
4221 ELANORA $310 151 $310 171
4223 CURRUMBIN $365 39 $325 30
4224 TUGUN $340 58 $280 40
4225 BILINGA $330 120 $310 111
4226 CLEAR ISLAND WATERS $400 53 $395 78
4227 REEDY CREEK $370 151 $370 131
SCENIC RIM REGIONAL $216 42 $215 31
4272 MOUNT TAMBORINE $265 6 N.A. 2
4285 ALLENVIEW $210 26 $200 24
GOLD COAST CITY $380 1135 $370 1281
4208 BURNSIDE $370 14 $365 23
4209 COOMERA $355 160 $345 174
4210 OXENFORD $350 13 $340 19
4211 ADVANCETOWN $365 202 $355 228
4212 HELENSVALE $420 42 $400 31
4213 BONOGIN $385 27 $360 42
4214 ARUNDEL $365 52 $360 55
4215 LABRADOR $380 133 $390 149
4216 PARADISE POINT $370 78 $360 96
4217 BENOWA $450 52 $420 52
4218 BROADBEACH $400 25 $395 26
4220 BURLEIGH HEADS $395 35 $400 45
4221 ELANORA $380 32 $350 22
4223 CURRUMBIN $360 10 $365 13
4224 TUGUN $430 28 $430 34
4226 CLEAR ISLAND WATERS $430 154 $410 171
4227 REEDY CREEK $420 77 $410 97
RENTAL MARKET - 2 BED UNITS
RENTAL MARKET - 3 BED TOWNHOUSES
19. 19
REGIONAL MARKET UPDATES
MARCH QUARTER 2014
Local agents also report improving conditions in the
prestige market, with some top sales being recorded in
suburbs such as East Toowoomba. The suburb’s median
house price increased 6.4 per cent to $415,000, making it
the third most expensive for the quarter.
UNIT & TOWNHOUSE MARKET
Like other parts of SEQ, the Toowoomba unit and
townhouse market has begun to find momentum,
with preliminary sales numbers continuing to trend
upwards, with the region recording its fifth consecutive
quarterly increase.
The sub-$250,000 price bracket continues to be the most
popular amongst buyers, most notably investors.
Top performing suburbs over the quarter included
Kearneys Springs and South Toowoomba which
both recoded an increase in activity compared to the
December quarter.
RENTAL MARKET
Of the major regional centres, outside of the Tourism
Centres, Toowoomba’s rental market is the only one to
continue to experience tight conditions. In Toowoomba the
vacancy rate remains at record lows.
At the end of March the vacancy rate was little changed
since December, up 0.1 percentage points to 1.4 per cent.
With such consistent demand for rental property, local
agents expect investor interest, most notable from
interstate to pick up in the next 12 months.
Despite continued tight rental conditions, median weekly
rents are yet to increase significantly, with three bedroom
houses recording an increase of just $10 to $300 per week
over the March quarter.
Following a strong December quarter, the Toowoomba
property market saw consistent sales numbers for the
house market, while the unit and townhouse market
continued in its stride.
Outside of metropolitan Brisbane, Toowoomba is currently
the fastest selling region with average days on market over
the 12 months to February for houses coming down 16
days to 71 and units & townhouses down an impressive 32
days to 75.
Toowoomba is also currently leading the way with the
percentage of profit making sales over the past year.
According to statistics from RP data, 95 per cent of
houses and 92 per cent of units and townhouses sold for
a profit over the 12 months to February – both results the
highest for the state.
According to local agents, a steady stream of new listings
was coming online to meet the growing demand for
quality stock.
HOUSE MARKET
Over the March quarter, Toowoomba’s median house
price eased 1.2 per cent to $325,000 with preliminary
sales numbers also easing 2 per cent, compared to the
December quarter.
Over the 12 months to March however, Toowoomba
recorded the highest increase in house sales activity, up
18 per cent, with an increase of 8.2 per cent in the median
sale price for the year – also the top result for all major
local government areas.
According to local agents, while there had been a slight
softening at the upper end of the market, houses priced
below $500,000 were being snapped up quickly. Over the
March quarter, the busiest segment of the market was
reportedly the $350,000 to $450,000 price bracket.
This was reflected in the REIQ’s price point data which
showed the $350,000 to $500,000 price point the only one
to record an increase in activity.
The most popular type of properties, local agents say, are
the four-bedroom, two-bathroom, double garage style
houses, which are favoured by both investors and renters.
Top performing suburbs to record the highest increase
in sales activity over the year include Centenary Heights,
Middle Ridge and Newtown.
TOOWOOMBA
HOUSEPRICEPOINT
64
FRASER COAST HOUSE SALES (p)
DEC 13 MAR 14
MACKAY HOUSE SALES (p)
DEC 13 MAR 14
178
80
30
144
78
30
<$350,000 $350,000+ $500,000+
ROCKHAMPTON HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
297
155
43
288
163
39
<$350,000 $350,000+ $500,000+
TOOWOOMBA HOUSE SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
47
294
560
314
44
330
651
371
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
132 132
79
36
182
207
99
43
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE SURROUNDS UNIT SALES (p)
DEC 13 MAR 14
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
380
447
391
GOLD COAST UNIT SALES (p)
DEC 13 MAR 14
17 18
BUNDABERG UNIT SALES (p)
DEC 13 MAR 14
18
10
1
18
9 10
<$250,000 $250,000+ $350,000+
FRASER COAST UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
(p) Prelim
Source: R
(p) Prelim
Source: R
37
34
7
42
36
14
<$250,000 $250,000+ $350,000+
TOOWOOMBA UNIT SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
16
32
28
1013
59
38
9
<$250,000 $250,000+ $350,000+ $500,000+
BRISBANE CITY LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
BRISBANE SURROUNDS LAND SALES (p)
DEC 13 MAR 14
Includes IPSWICH, LOGAN, MORETON BAY & REDLAND
FRASER COAST LAND SALES (p)
DEC 13 MAR 14
(p) Pre
Source
25
2 2
36
7
0
<$250,000 $250,000+ $350,000+
TOOWOOMBA LAND SALES (p)
DEC 13 MAR 14
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.