The numbers of house sales across Queensland peaked in the last quarter of 2013, with nearly 10,000 sales. This was the highest quarterly sales volume in several years and occurred without stimulus measures. The improving housing market and growing consumer confidence contributed to the increased sales. Median house prices also increased over the quarter in most regions of Queensland, with Brisbane prices up 6%, reflecting a jump in sales of properties between $500,000-$1 million.
1. your state-wide property research guide suburb by suburb
REIQ
QMM STATE-WIDE COMMENTARY
ISSUE21
QUEENSLANDMARKETMONITORISSUE21
DECEMBER QTR 2013
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QUEENSLAND
HOUSE SALES
PEAK
SALES MARKET
The numbers of house sales across Queensland peaked
at the end of last year as well as recorded healthy price
growth according to the REIQ’s Queensland Market
Monitor (QMM) for the December quarter.
December quarter data shows that the volume of house
sales hit its annual peak of activity in the last three
months of 2013. The numbers of sales was also one of
the healthiest quarterly periods for a number of years.
Not only can the December quarter claim to be the third
strongest in as many years, it was also firming without
the aid of extraneous stimulus measures.
Queensland’s most recent peak was in September
2012 when the return of stamp duty concessions
underpinned the increased sales activity.
2. 2 QUEENSLAND MARKET MONITOR
However, the strength of this latest quarter is a direct
reflection of the improving market and growing
confidence levels.
The September quarter, or spring selling season,
historically records the high numbers of sales. Last
year, however, the December quarter trumped it with the
preliminary numbers of house sales peaking at just shy of
10,000 for that three-month period.
This was the case across most major regions of the State
which is a further signal that the Queensland market is
well into its next growth phase. And when we compare
2013 to the very good times of 2007, we are sitting at about
75 per cent of the sales volumes that occurred during
that year.
Not only are more properties selling, they are taking less
time to do so and with less discounting. The most recent
data shows that in Brisbane, for example, the average time
it takes to sell a home has reduced to 74 days with average
discounting from list prices sitting at about 6 per cent.
And REIQ accredited agencies are reporting that many
properties are now selling for their asking prices or above
with instances of multiple offers also increasing.
Just as the volume of sales is growing so too are median
house prices in most regions. Over the December quarter,
the Brisbane median house price increased 6 per cent to
$562,000 – the third best performer over the quarter. There
was a significant jump in sales between $500,000 and
$1 million over the period which can partly explain this
quarterly price increase.
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
"The strength
of this latest
quarter is
a direct
reflection of
the improving
market and
growing
confidence
levels"
MEDIAN SALE PRICE QUARTERLY MOVEMENTS
LGA HOUSES UNITS LAND
SOUTH EAST QUEENSLAND
BRISBANE (SD) 5.2% 3.5% 9.7%
BRISBANE CITY 6.0% 2.0% 5.4%
IPSWICH CITY 4.4% -7.8% ~ 3.0%
LOGAN CITY 3.0% 5.7% ~ * -20.6% ~
MORETON BAY 7.7% ~ -0.3% 13.6% ~
REDLAND CITY 3.5% 3.4% 25.0% ~
GOLD COAST CITY 1.7% 1.5% -1.3%
SUNSHINE COAST 3.6% 6.3% 2.7%
MAJOR REGIONS
TOOWOOMBA 6.5% 6.5% ~ * 6.9% ~
FRASER COAST 0.5% -9.9% ~ * 10.1% ~
BUNDABERG 5.7% -18.0% ~ f -9.6% ~
GLADSTONE 5.0% N/A 3.0%
ROCKHAMPTON 0.5% 9.8% ~ 16.8% ~
MACKAY -2.4% 2.5% 15.4% ~
TOWNSVILLE CITY 3.2% 7.7% ~ -0.9%
CAIRNS 1.0% -14.7% ~ f -2.6%
3. 996
993
759
960
732
185
183
117
136
153
60
84
67
76
66
33
23
21
32
28
9
6
7
5
2
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
583
758
711
873
770
1089
1028
1058
1221
1163
984
953
1034
1184
1148
451
510
532
588
669
62
91
88
110
116
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
UNIT
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
2923
2701
2852
3203
3024
3185
2917
3016
3359
3632
2070
1914
2081
2360
2856
193
181
225
249
292
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
HOUSE
SALES
(p)
<$350,000
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
Source:
REIQ,
data
provided
by
RP
data
996
993
759
960
732
185
183
117
136
153
60
84
67
76
66
33
23
21
32
28
9
6
7
5
2
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
583
758
711
873
770
1089
1028
1058
1221
1163
984
953
1034
1184
1148
451
510
532
588
669
62
91
88
110
116
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
UNIT
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
2923
2701
2852
3203
3024
3185
2917
3016
3359
3632
2070
1914
2081
2360
2856
193
181
225
249
292
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
HOUSE
SALES
(p)
<$350,000
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
Source:
REIQ,
data
provided
by
RP
data
996
993
759
960
732
185
183
117
136
153
60
84
67
76
66
33
23
21
32
28
9
6
7
5
2
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
583
758
711
873
770
1089
1028
1058
1221
1163
984
953
1034
1184
1148
451
510
532
588
669
62
91
88
110
116
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
UNIT
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
2923
2701
2852
3203
3024
3185
2917
3016
3359
3632
2070
1914
2081
2360
2856
193
181
225
249
292
DEC
12
MAR
13
JUN
13
SEP
13
Dec-‐13
QUEENSLAND
HOUSE
SALES
(p)
<$350,000
$350,000+
$500,000+
$1m+
(p)
Preliminary
sales
uploaded
as
at
5
weeks
a6er
the
end
of
each
quarterly
period
Source:
REIQ,
data
provided
by
RP
data
The top major region over the period was Moreton Bay
which posted median house price growth of 7.7 per cent
to $387,750. The Greater Brisbane region is attractive
for first home buyers and investors given its relative
affordability and also it has the lion’s share of new
housing developments across the Brisbane area.
The next best performer was Toowoomba which again
posted median price growth over the quarter. Its median
house price increased 6.5 per cent to $329,000. Over the
year ending December, its median grew by an impressive
8.5 per cent. Toowoomba’s proximity to the Surat Basin
Energy Province continues to underpin its strong property
market and potential for future growth.
The median price of units and townhouses across South
East Queensland grew over the December quarter as well.
The preliminary numbers of unit sales also increased six
per cent over the year.
The unit market is continuing to improve in-line with
the house sales market – albeit centred around the
southeast corner.
A key difference between the Queensland house and unit
markets is that predominantly the lion’s share of these
types of properties is located in the southeast as that is
where demand for housing is the greatest.
In fact, demand for units in Brisbane has resulted in
record numbers of off-the-plan sales lately. According
to recently-released research, more than 1,000 new
apartment sales were transacted in the December quarter
– the highest level since 2002.
3
STATE-WIDE SUMMARY
DECEMBER QUARTER 2013
MEDIAN SALE PRICES
LGA HOUSES UNITS LAND
SOUTH EAST QUEENSLAND
BRISBANE (SD) $465,000 $385,000 $215,000
BRISBANE CITY $562,000 $408,000 $334,500
IPSWICH CITY $308,000 $219,000 $172,450
LOGAN CITY $345,000 $240,000 $158,900
MORETON BAY $387,750 $299,000 $229,000
REDLAND CITY $455,500 $351,000 $30,000
GOLD COAST CITY (LGA) $480,000 $340,000 $230,000
SUNSHINE COAST (LGA) $456,000 $340,000 $244,000
MAJOR REGIONS
TOOWOOMBA $329,000 $263,000 $155,000
FRASER COAST $291,500 $220,000 $158,500
BUNDABERG $280,000 $243,500 $122,000
GLADSTONE $420,000 N/A $208,000
ROCKHAMPTON $320,000 $279,500 $179,900
MACKAY $410,000 $276,750 $225,000
TOWNSVILLE CITY $357,000 $280,000 $160,750
CAIRNS $355,000 $183,500 $170,000
PRELIMINARY SALES ACTIVITY
LGA HOUSES UNITS LAND
SOUTH EAST QUEENSLAND
BRISBANE (SD) UP DOWN DOWN
BRISBANE CITY UP DOWN DOWN
IPSWICH CITY UP STEADY DOWN
LOGAN CITY STEADY DOWN STEADY
MORETON BAY STEADY DOWN DOWN
REDLAND CITY UP STEADY DOWN
GOLD COAST CITY UP STEADY UP
SUNSHINE COAST UP UP DOWN
MAJOR REGIONS
TOOWOOMBA UP STEADY DOWN
FRASER COAST DOWN DOWN STEADY
BUNDABERG STEADY STEADY DOWN
GLADSTONE UP DOWN DOWN
ROCKHAMPTON STEADY STEADY STEADY
MACKAY UP DOWN DOWN
TOWNSVILLE CITY UP UP DOWN
CAIRNS STEADY DOWN UP
4. The Real Estate Institute of Queensland
Ltd. Copyright 2014
21 Turbo Drive, Coorparoo, PO Box 1555,
Coorparoo DC Q 4151
Ph: (07) 3249 7347 Fax: (07) 3249 6211 Email:
research@reiq.com.au
Queensland Market Monitor is published by
The Real Estate Institute of Queensland (REIQ).
ABN 49 009 661 287
Disclaimer: The information contained in this publication, while based on information believed
reliable, is not guaranteed. Nor is any of it tendered by way of investment advice; instead, it is
intended only to inform and illustrate. No reader should act on the basis of any matter contained
in this publication without considering and if necessary taking appropriate professional advice with
regards to their own particular circumstances. The publisher and editor give no representations
and make no warranties, express or implied, with respect to the accuracy or completeness of any
of the material (including statistics, advertisements and advertising features) contained in this
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publisher. For permissions or reprints, contact the Corporate Affairs Division on phone 07 3249 7347.
Data report date: 6 February 2014
Published date: 3 March 2014
RENTAL MARKET
The REIQ’s latest residential rental survey, carried out in
December across all REIQ accredited agencies, has found
that the majority of the State recorded higher vacancy
rates compared to the three months before.
Over a third of REIQ member agencies reported an
increase in investor activity, subsequently adding to
the rental pool. In addition to this, the end of the year is
historically a period of lower tenant demand with many
vacating over the Christmas and New Year periods,
usually in a move to another area for either work or
educational reasons.
While local agents report seeing the beginning of easing
asking rents, figures from the Residential Tenancies
Authorities figures for the December quarter, are yet to
show a decline in median weekly rents for South East
Queensland and the Central Coast. While in the mining
regions, where vacancy rates have been trending upwards
for a number of consecutive quarters now, falling median
weekly rents are becoming the norm.
(-) 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 $410 U $395 - $405 -
IPSWICH CITY $300 U $250 U $310 -
LOGAN CITY $340 U $260 - $330 -
MORETON BAY $330 - $275 - $335 U
REDLAND CITY $380 - $330 U $385 U
GOLD COAST CITY $420 U* $355 U $380 U
SUNSHINE COAST $385 - $320 U $370 -
MAJOR REGIONS
TOOWOOMBA $290 U $240 U $330 U*
FRASER COAST $275 - $220 U $310 U
BUNDABERG $280 - $220 U $300 U*
GLADSTONE $395 D* $330 D $480 D*
ROCKHAMPTON $330 D $255 - $420 U*
MACKAY $390 D* $300 D $380 D*
TOWNSVILLE CITY 1 $340 D $280 - $280 D
CAIRNS 1 $340 U $280 U $250 U
VACANCY RATES
LGA 30-DEC-13 TREND
SOUTH EAST QUEENSLAND
BRISBANE CITY 3.2% UP
IPSWICH CITY 2.1% UP
LOGAN CITY 2.0% UP
MORETON BAY 2.0% STEADY
REDLAND CITY 2.4% UP
GOLD COAST CITY 1.9% DOWN
SUNSHINE COAST 1.1% DOWN
MAJOR REGIONS
TOOWOOMBA 1.3% STEADY
FRASER COAST 3.4% UP
BUNDABERG 4.3% UP
GLADSTONE 7.7% UP
ROCKHAMPTON 7.0% UP
MACKAY 7.7% UP
TOWNSVILLE CITY 4.8% UP
CAIRNS 2.0% UP
GROSS RENTAL YIELDS
LGA HOUSES UNITS
SOUTH EAST QUEENSLAND
BRISBANE CITY (LGA) 3.8% - 5.0% -
IPSWICH CITY (LGA) 5.1% - 5.9% U
LOGAN CITY (LGA) 5.1% - 5.6% D
MORETON BAY (LGA) 4.4% D 4.8% -
REDLAND CITY (LGA) 4.3% - 4.9% -
GOLD COAST CITY (LGA) 4.6% - 5.4% -
SUNSHINE COAST (LGA) 4.4% - 4.9% -
MAJOR REGIONS
TOOWOOMBA 4.6% D 4.7% -
FRASER COAST 4.9% - 5.2% U
BUNDABERG 5.2% D 4.7% U*
GLADSTONE 4.9% D* N/A N/A
ROCKHAMPTON 5.4% - 4.7% D*
MACKAY 4.9% - 5.6% D*
TOWNSVILLE CITY 5.0% - 5.2% D
CAIRNS 5.0% - 7.9% U*
5. REIQ RESEARCH EXPLANATORY NOTES
SALES DATA
All figures for the most recent quarterly and yearly periods
are to be considered preliminary and subject to further
revision as additional sales records become available (see
Research Methodology).
All sales data includes "Recent Sales" as advised by real
estate agents as well as official records as advised by
DNRM.
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 (representing 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.
Based on or contains data provided by the State of Queensland (Department of
Natural Resources and Mines) 2013. In consideration of the State permitting use of
this data you acknowledge and agree that the State gives no warranty in relation to
the data (including accuracy, reliability, completeness, currency or suitability) and
accepts no liability (including without limitation, liability in negligence) for any loss,
damage or costs (including consequential damage) relating to any use of the data.
Data must not be used for direct marketing or be used in breach of the privacy laws.
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.
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
5DECEMBER QUARTER 2013
ON THE MARKET INDICATORS
At the time of publication, latest information available was
for the 12 months to the end of November 2013.
"Average 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.
"Average 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.
"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. 186
174
201
179
146
786
686
740
880
787
1025
910
1081
1280
1529
106
97
124
150
171
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE CITY HOUSE SALES (p)
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
902
832
844
1005
908
739
697
694
810
939
281
254
268
279
362
8
12
13
9
14
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE SURROUNDS HOUSE SALES (p)
<$350,000 $350,000+ $500,000+ $1m+
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
74
99
98
113
115
364
353
406
443
517
324
293
302
341
418
48
48
54
60
65
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
GOLD COAST HOUSE SALES (p)
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
131
103
114
113
101
298
269
271
353
394
176
186
189
219
278
24
19
27
26
33
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
SUNSHINE COAST HOUSE SALES (p)
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
38
60
43
50
47
320
275
301
343
294
531
489
545
612
560
222
209
234
279
314
20
28
32
46
39
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE CITY UNIT SALES (p)
<$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
102
137
169
132
134
134
141
171
132
65
43
51
86
79
14
24
29
29
36
4
1
2
2
3
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE SURROUNDS UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
133
216
179
236
204
303
329
334
375
380
185
231
252
306
292
116
169
187
191
192
20
45
42
44
57
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
GOLD COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
56
100
78
92
74
150
136
135
152
187
88
112
100
95
132
59
68
49
62
79
11
12
8
10
12
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
SUNSHINE COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC
MAR
JUN
SEP
DEC
(p) Preli
Source:
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
DE
MA
JU
SE
DE
(p) Pre
Source
DEC
MAR
JUN
SEP
DEC
(p) Pre
Source
287
256
237
329
220
50
42
31
45
49
8
16
12
11
14
5
5
6
4
7
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
BRISBANE
SURROUNDS
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
Includes
IPSWICH,
LOGAN,
MORETON
BAY
&
REDLAND
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
45
31
35
37
16
45
49
26
27
32
29
40
34
37
28
12
8
6
7
10
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
BRISBANE
CITY
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
D
M
J
D
(p)
Pre
Sourc
D
M
J
D
(p)
Pre
Source
M
(p)
Pr
Sourc
51
52
41
40
45
16
6
11
15
24
7
8
5
5
3
13
5
7
8
6
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
GOLD
COAST
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
40
21
12
4
DEC
13
SUNSHINE
COAST
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
BRISBANE
CITY
SALES MARKETS
Over the December quarter, the Brisbane median house
price increased 6 per cent to $562,000 – the third best
performer over the quarter.
Contributing to this healthy increase in its median was a
shift in the composition of sales over the quarter.
Compared to the September quarter, house sales numbers
in the $500,000 to $1 million price point were up about 20
per cent, while sales activity in the $1 million-plus price
point was up about 15 per cent.
Recovery in prestige property sales numbers is
typically an indicator that confidence is returning to the
property market.
The top three suburbs to record the most property
sales in excess of $1 million over the December quarter
included Paddington, New Farm and Indooroopilly, all city
fringe suburbs.
Further evidence of increased activity at the top end was
the higher number of Brisbane suburbs to record an
increase in excess of 15 per cent in its median house price
over the quarter.
Of the 15 suburbs to record an increase, the majority had
a median over $650,000.
Other market indicators signalling continued improving
confidence is the time properties are spending on the
market and the amount which vendors are negotiating.
The most recent figures show that in Brisbane, the
average time it takes to sell a house has reduced to 74
days, down from 87 a year ago with average discounting
from list prices sitting at about 6 per cent compared to 7
per cent over the same period.
In the unit and townhouse market, average days on market
has also improved to 85, down from 96, while average
vendor discounting is just 5 per cent.
The Brisbane unit and townhouse price increased 2 per
cent over the quarter to $408,000 and posted 1.5 per cent
growth over the year. There was a jump in sales in the
prestige unit market with sales between $500,000 and $1
million increasing by 13 per cent over the period.
Demand for these top-end properties are reflected in the
spike in median price in suburbs such as Hamilton and
Kangaroo Point which have been impacted by the sale of
higher priced units, many with river-views.
The Brisbane CBD also recorded one of the highest
increases in sales activity, nudging back up over 100
preliminary sales numbers for the quarter, as well as
posting a steady 2.2 per cent increase in its median.
RENTAL MARKET
In the Brisbane City local government area, the vacancy
rate as at the end of December was 3.2 per cent, up
from 2.3 per cent at the end of September. Local agents
report higher than usual vacancies for this time of year as
tenants are either relocating for work or purchasing their
own property.
Across Brisbane the results are varied. Inner Brisbane,
suburbs within 5km of the CBD, recorded the highest
increase, up 1.7 percentage points to 4.1 per cent.
For Brisbane suburbs beyond 5km, the vacancy rate eased
just 0.6 percentage points to 2.8 per cent.
Over the December quarter, median weekly rents
remained relatively steady for two bedroom units and
three bedroom townhouses, while three bedroom houses
recorded an increase of $10 to $410 per week compared to
the previous quarter.
6 QUEENSLAND MARKET MONITOR
BRISBANE MARKET UPDATES
11. GREATER
BRISBANE
11DECEMBER QUARTER 2013
BRISBANE MARKET UPDATES
SALES MARKET
All four of Brisbane’s surrounding council areas posted
median house price over the December quarter while
also recording greater numbers of sales compared to the
previous quarter.
The top major region across Queensland over the period
was Moreton Bay which posted median house price
growth of 7.7 per cent to $387,750. The region is attractive
for first home buyers and investors given its relative
affordability and also has the lion’s share of new housing
developments across the Brisbane area. Its numbers of
preliminary house sales also increased by 8 per cent over
the year.
The Ipswich City council area recorded median house
price growth of 4.4 per cent to $308,000 over the quarter.
Its preliminary numbers of house sales was also up by 4
per cent compared to the historically more voluminous
September quarter.
Redland City posted a median house price increase of
3.5 per cent to $455,500 and 8 per cent more preliminary
house sales over the quarter. Logan City recorded house
growth of 3 per cent to $345,000 with preliminary house
sales up more than 10 per cent over the year.
Of all four major regions, Redland City now has the lowest
days on market at 84 – down from 99 a year before. In
Logan and Moreton Bay, the average discounting is now 6
per cent while in Redland City and Ipswich it is 7 per cent.
When it comes to the unit and townhouse market, it was
a mixed bag for the Greater Brisbane region but this is
probably due to the size of the unit markets in each area.
Logan’s median unit and townhouse price increased
5.7 per cent to $240,000 over the quarter but this was
positively impacted by two new developments – one in
Beenleigh and one in Browns Plains – which were sold
over the period.
Moreton Bay has the largest unit market in Greater
Brisbane and recorded 184 preliminary sales over the
December quarter. Its median and unit price posted
a minimal reduction of 0.3 per cent to $299,000 over
the period.
Redland City’s median unit price grew by 3.4 per cent to
$351,000 over the quarter but this was based on less than
70 preliminary sales.
The smallest unit market is in Ipswich, which posted just
50 preliminary sales and recorded a median unit price
fall of 7.8 per cent to $219,000 over the period due to the
varying quality of stock sold.
RENTAL MARKET
For the surrounding Brisbane local government areas,
rental markets still remain tight despite a slight easing
in vacancy rates. All areas recorded vacancy rates under
2.5 per cent, with Redland City the only area to record
an increase of more than one percentage points in its
vacancy rate.
Across the Greater Brisbane area, around 40 per cent of
REIQ agents surveyed reported an increase in investor
activity; however tenant demand remains strong in most
areas, keeping vacancy rates at low levels. The increased
investor activity was most notable in the Moreton
Bay area.
Median weekly rents across the Greater Brisbane area saw
small increases for two bedroom units and three bedroom
houses, with all regions posting increases of either $5 or
$10 since September. Ipswich City continues to post the
most affordable median weekly rents across all rental
property types.
15. Of all four major regions, Redland City now has the lowest days on market
at 84 – down from 99 a year before. In Logan and Moreton Bay, the average
discounting is now 6 per cent while in Redland City and Ipswich it is 7 per
cent
15DECEMBER QUARTER 2013
BRISBANE MARKET UPDATES
IPSWICH CITY $310 121 $305 105
4300 AUGUSTINE HEIGHTS $320 54 $350 24
4301 COLLINGWOOD PARK $300 19 $280 26
4304 BLACKSTONE $305 15 $305 18
4305 BASIN POCKET $305 31 $300 35
LOGAN CITY $330 425 $325 347
4114 KINGSTON $320 56 $310 30
4118 BROWNS PLAINS $350 58 $345 60
4119 UNDERWOOD $335 32 $320 41
4123 PRIESTS GULLY $335 10 $310 8
4127 CHATSWOOD HILLS $330 36 $325 36
4128 KIMBERLEY PARK $345 13 $340 10
4131 LOGANLEA $350 22 $350 18
4132 CRESTMEAD $340 53 $340 24
4133 CHAMBERS FLAT $310 19 $310 13
4207 ALBERTON $320 117 $320 99
MORETON BAY REGIONAL $335 530 $325 511
4019 CLONTARF $350 11 $320 16
4020 NEWPORT $380 11 $340 19
4021 KIPPA-RING $335 42 $330 53
4035 ALBANY CREEK $380 17 $375 6
4500 BRAY PARK $335 54 $330 59
4501 LAWNTON $340 11 $340 15
4502 FRENCHS FOREST $320 16 $320 13
4503 DAKABIN $340 132 $335 126
4504 NARANGBA $340 11 $330 5
4505 BURPENGARY $310 32 $305 23
4506 MOORINA $300 29 $295 35
4507 BANKSIA BEACH $315 11 $315 9
4508 DECEPTION BAY $310 40 $310 35
4509 MANGO HILL $350 77 $340 44
4510 BALINGOOL $295 27 $280 42
REDLAND CITY $385 83 $375 85
4157 CAPALABA $350 6 $360 9
4158 THORNESIDE $380 10 $360 12
4160 EROBIN $395 13 $375 12
4163 CLEVELAND $385 34 $410 28
4165 MOUNT COTTON $390 14 $380 20
IPSWICH CITY $250 129 $240 113
4300 AUGUSTINE HEIGHTS $260 31 $235 15
4301 COLLINGWOOD PARK $250 23 $255 23
4304 BLACKSTONE $245 21 $240 27
4305 BASIN POCKET $250 53 $230 47
LOGAN CITY $260 191 $255 204
4114 KINGSTON $265 73 $250 65
4127 CHATSWOOD HILLS $295 16 $320 20
4128 KIMBERLEY PARK $285 6 $280 6
4133 CHAMBERS FLAT $239 12 $250 12
4207 ALBERTON $250 67 $240 74
4280 JIMBOOMBA $245 5 N.A. 2
MORETON BAY REGIONAL $275 442 $270 473
4019 CLONTARF $275 77 $270 73
4020 NEWPORT $295 78 $295 113
4021 KIPPA-RING $265 8 $265 9
4500 BRAY PARK $290 34 $280 28
4501 LAWNTON $270 19 $250 10
4503 DAKABIN $280 37 $280 27
4506 MOORINA $265 12 $245 10
4507 BANKSIA BEACH $270 50 $250 73
4508 DECEPTION BAY $270 15 $281 21
4509 MANGO HILL $310 21 $315 12
4510 BALINGOOL $250 79 $240 77
REDLAND CITY $330 88 $320 76
4157 CAPALABA $330 17 $310 18
4160 EROBIN $345 7 N.A. 4
4161 ALEXANDRA HILLS $160 5 N.A. 4
4163 CLEVELAND $400 36 $365 32
4165 MOUNT COTTON $143 6 $280 7
4183 AMITY $275 8 N.A. 3
LOCKYER VALLEY REGIONAL $220 24 $210 17
4343 ADARE $220 20 $220 13
RENTAL MARKET - 2 BED UNITS
DEC-13 DEC-12
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
RENTAL MARKET - 3 BED TOWNHOUSES
DEC-13 DEC-12
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
16. 16 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
A solid performer in terms of price growth and sales
activity was Robina which recorded a median house price
increase of 10.1 per cent to $545,000 over the quarter.
It also posted an increase in sales over the quarter and
the year.
Another strong performer was Palm Beach which
recorded median price growth of 12.5 per cent to $540,000
over the quarter as well 10 per cent over the year.
The median unit and townhouse price on the Gold Coast
increased 1.5 per cent to $340,000 over the quarter
and was steady over the year. While the Gold Coast’s
preliminary number of unit sales reduced over the quarter,
over the year volumes increased by 21 per cent.
Local agents say the unit market has not bounced back
to the same degree as the house market as yet but it is
expected to follow its lead in the months ahead.
A solid performer over the quarter was Currumbin Waters
which posted median unit price growth of 10.1 per cent
to $315,000. Over the year ending December, its median
price increased by 7.3 per cent.
RENTAL MARKET
In our tourism centres, residential vacancy rates remain
at healthy levels. The Gold Coasts recorded a tighter
vacancy rate, down 0.4 percentage points to 1.9 per cent
since September.
Median weekly rents on the Gold Coast have been steadily
increasing since the start of 2013, with three bedroom
houses up $20 to $420 per week between December 2012
and December last year – the highest increase in over four
years where median rents have hovered around the $400
mark.
The median rent of a two-bedroom unit on the Gold Coast
increased $15 per week to $355 over the same period.
SALES MARKET
The median house price on the Gold Coast increased
1.7 per cent to $480,000. The preliminary numbers of
house sales increased 10 per cent compared to the
September quarter.
According to local REIQ accredited agencies, sales activity
is strengthening however stock is becoming an issue.
Well-priced properties are selling close to list price –
especially in the under $500,000 price bracket.
There is currently a lot of pent-up demand which is being
released due to the improving conditions, low interest
rates, and media commentary on the strengthening Gold
Coast market.
According to local agents, there are instances of more
demand than supply which is helping price growth, while
good stock is becoming increasingly difficult to source.
First home buyers are more active in the market after a
prolonged period on the sidelines.
First-time buyers have worked out that it can be more
affordable to buy than rent in some areas and they are
making their move into the market.
Local agents say the outlook for this year is extremely
positive with the potential for continued moderate price
growth as well as improvements in the region’s tourism
and construction sectors.
Sellers’ expectations are beginning to trend up with many
now expecting to sell their properties at or above list price.
Investors are more active in the market given the strength
of the region’s rental market which is providing some
good returns.
GOLD COAST
18. "Local agents say the
outlook for this year is
extremely positive with
the potential for continued
moderate price growth as
well as improvements in
the region’s tourism and
construction sectors"
18 QUEENSLAND MARKET MONITOR
REGIONAL MARKET UPDATES
4285 ALLENVIEW $290 42 $300 53
4307 COLEYVILLE $260 10 $250 5
4309 ARATULA $260 9 $240 7
4310 ALLANDALE $265 25 $260 9
GOLD COAST CITY $420 1031 $400 1032
4208 BURNSIDE $375 24 $380 24
4209 COOMERA $379 119 $360 77
4210 OXENFORD $390 21 $370 16
4211 ADVANCETOWN $395 122 $385 141
4212 HELENSVALE $470 72 $420 73
4213 BONOGIN $420 54 $405 54
4214 ARUNDEL $420 83 $400 96
4215 LABRADOR $390 110 $380 98
4216 PARADISE POINT $400 78 $390 75
4217 BENOWA $560 36 $550 32
4218 BROADBEACH $510 62 $500 69
4220 BURLEIGH HEADS $450 56 $450 60
4221 ELANORA $460 50 $420 49
4223 CURRUMBIN $420 31 $460 29
4224 TUGUN $390 8 $425 12
4225 BILINGA $425 5 $410 6
4226 CLEAR ISLAND WATERS $450 63 $430 79
4227 REEDY CREEK $465 29 $420 33
4228 INGLESIDE $425 8 $425 8
SCENIC RIM REGIONAL $295 127 $310 116
4271 EAGLE HEIGHTS $390 11 $355 12
4272 MOUNT TAMBORINE $375 16 $380 14
4275 BENOBBLE $360 12 $360 10
902
832
739
697
281
254
8
12
DEC 12
MAR 13
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
74
99
98
113
115
364
353
406
443
517
324
293
302
341
418
48
48
54
60
65
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
GOLD COAST HOUSE SALES (p)
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
131
103
114
113
101
298
269
271
353
394
176
186
189
219
278
24
19
27
26
33
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
SUNSHINE COAST HOUSE SALES (p)
<$350,000 $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
130
121
159
158
146
39
36
26
25
42
7
9
4
8
10
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BUNDABERG HOUSE SALES (p)
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
(p) Preliminary
Source: REIQ,
158
162
36
32
8
6
DEC 12
MAR 13
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
13
13
12
33
21
86
68
73
53
73
27
32
28
22
27
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
GLADSTONE HOUSE SALES (p)
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
(p) Preliminary. S
Source: REIQ, da
DEC 12
MAR 13
(p) Preliminary
Source: REIQ, d
38
60
43
320
275
301
531
489
545
222
209
234
20
28
32
DEC 12
MAR 13
JUN 13
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
105
102
137
169
132
134
134
141
171
132
65
43
51
86
79
14
24
29
29
36
4
1
2
2
3
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE SURROUNDS UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
INCLUDES IPSWICH, LOGAN, MORETON BAY & REDLAND
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
133
216
179
236
204
303
329
334
375
380
185
231
252
306
292
116
169
187
191
192
20
45
42
44
57
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
GOLD COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
56
100
78
92
74
150
136
135
152
187
88
112
100
95
132
59
68
49
62
79
11
12
8
10
12
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
SUNSHINE COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
13
20
18
7
17
6
11
6
10
9
4
4
2
3
2
8
1
2
1
6
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BUNDABERG UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
(p) Preliminar
Source: REIQ,
19
17
10
25
18
14
12
20
17
10
6
2
4
3
1
1
0
0
1
0
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
FRASER COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
1
3
1
6
2
14
13
5
9
3
6
9
7
5
3
3
2
0
1
3
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
GLADSTONE UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
(p) Prelimina
Source: REIQ
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
(p) Prelimina
Source: REIQ
DEC 12
MAR 13
JUN 13
(p) Preliminar
Source: REIQ,
28
36
27
21
21
23
7
8
5
1
0
3
DEC 12
MAR 13
JUN 13
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
287
256
237
329
220
50
42
31
45
49
8
16
12
11
14
5
5
6
4
7
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
BRISBANE
SURROUNDS
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
Includes
IPSWICH,
LOGAN,
MORETON
BAY
&
REDLAND
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
45
31
35
37
16
45
49
26
27
32
29
40
34
37
28
12
8
6
7
10
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
BRISBANE
CITY
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
38
55
34
39
25
2
1
1
3
2
0
2
1
3
2
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
TOOWOOMBA
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
(p
So
(
S
42
26
25
40
41
1
1
1
0
3
0
0
1
0
0
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
FRASER
COAST
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
38
47
33
41
25
1
0
1
2
0
0
0
0
0
0
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
BUNDABERG
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
51
52
41
40
45
16
6
11
15
24
7
8
5
5
3
13
5
7
8
6
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
GOLD
COAST
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
71
49
47
53
40
38
38
18
20
21
9
12
10
12
12
7
8
7
10
4
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
SUNSHINE
COAST
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
14
20
23
33
25
10
12
9
3
2
3
2
1
2
2
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
GLADSTONE
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
(
S
RENTAL MARKET - 3 BED HOUSES
DEC-13 DEC-12
POSTCODE LOCALITIES MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
RENTAL MARKET - 3 BED HOUSES (CONT’D)
DEC-13 DEC-12
POSTCODE LOCALITIESL
MEDIAN/WK NEW BONDS MEDIAN/WK NEW BONDS
GOLD COAST CITY $355 2540 $340 2533
4209 COOMERA $300 9 $295 9
4210 OXENFORD $300 21 $295 20
4211 ADVANCETOWN $330 36 $290 41
4212 HELENSVALE $390 47 $380 59
4214 ARUNDEL $290 20 $188 26
4215 LABRADOR $340 585 $330 532
4216 PARADISE POINT $350 192 $330 183
4217 BENOWA $385 612 $390 598
4218 BROADBEACH $350 341 $340 336
4220 BURLEIGH HEADS $370 183 $360 188
4221 ELANORA $320 166 $300 147
4223 CURRUMBIN $350 25 $335 32
4224 TUGUN $310 31 $280 34
4225 BILINGA $330 134 $310 160
4226 CLEAR ISLAND WATERS $400 54 $390 44
4227 REEDY CREEK $410 79 $345 117
SCENIC RIM REGIONAL $220 37 $210 31
4285 ALLENVIEW $210 32 $200 22
GOLD COAST CITY $380 1259 $370 1274
4208 BURNSIDE $370 21 $360 14
4209 COOMERA $350 154 $340 176
4210 OXENFORD $350 13 $320 23
4211 ADVANCETOWN $360 221 $350 260
4212 HELENSVALE $420 43 $400 49
4213 BONOGIN $360 44 $360 43
4214 ARUNDEL $360 50 $360 54
4215 LABRADOR $385 148 $380 125
4216 PARADISE POINT $360 89 $350 84
4217 BENOWA $470 73 $455 66
4218 BROADBEACH $400 25 $400 22
4220 BURLEIGH HEADS $450 25 $400 47
4221 ELANORA $400 22 $380 14
4223 CURRUMBIN $360 24 $380 18
4224 TUGUN $430 34 $420 31
4226 CLEAR ISLAND WATERS $430 178 $420 158
4227 REEDY CREEK $410 88 $390 78
SCENIC RIM REGIONAL $280 9 $300 5
4285 ALLENVIEW $280 9 $300 5
RENTAL MARKET - 2 BED UNITS
RENTAL MARKET - 3 BED TOWNHOUSES
19. 19
REGIONAL MARKET UPDATES
DECEMBER QUARTER 2013
The approval of the 2nd range crossing is also said to be
a boost for not only the local economy but also for local
amenity as large trucks will no longer be driving through
the city centre.
RENTAL MARKET
Investor activity is reportedly up, predominantly within
close proximity to the Toowoomba metropolitan area, as
is tenant demand with one agency reporting very high
numbers of applicants recently.
With increased demand being matched with increased
investment activity, Toowoomba’s vacancy rate remained
unchanged since September, at 1.3 per cent.
Median weekly rents from the RTA correspondingly
continue to record steady growth. Compared to the
December quarter 2012, three bedroom townhouses
recorded the highest increase, up $48 to $330 per week.
Given the number of new bond lodgements are low,
the higher median rent was no doubt influenced by the
increasing number of higher quality townhouses available
for rent.
Meanwhile, three bedroom houses were up $10 to $290
per week and two bedroom flats were up $15 to $240
per week over the same period. Three bedroom flats still
remain the most popular investment property with over
600 new bonds lodged over the December quarter 2013
SALES MARKET
The Toowoomba property market continues to go from
strength to strength, with the December quarter seeing
preliminary sales volumes increase by around 10 per cent.
The Toowoomba Regional median house price was up a
strong 6.5 per cent to $329,000.
According to local agents, the Toowoomba property
market has continued to show robust confidence levels.
Sales in the sub-$500,000 bracket are reportedly strong,
with some properties taking less than a week to sell.
Local agents say both owner-occupiers and investors
are very active in the market, with increasing numbers
at open for inspections. First home buyers however
are unfortunately still low in numbers due to minimal
affordably-priced properties available on the market.
Investor demand is said to be particularly strong for
properties that are priced well relative to their rental
return, with such properties spending little time on
the market.
Another indicator that the Toowoomba property market is
strengthening is increased sales activity in the premium
end of the market, with up-graders and owner-occupiers
making the step up into a higher price range.
In the unit and townhouse market, the Toowoomba
median sale price increased 6.5 per cent to $263,000 with
an increase in preliminary sales numbers also recorded
over the quarter.
The Toowoomba unit market is seeing small townhouse
developments pop up across the metropolitan area,
such as Newtown and Kearneys Spring. While higher-
end sales in East Toowoomba and Rangeville have also
contributed to the increase in the region’s median price
over the quarter.
Over the coming year, local agents expect to see continued
quiet confidence, with confident capital growth expected.
Local agents say the region is set to vastly benefit from the
opening of the Brisbane West Wellcamp in October, which
is a privately owned and funded airport.
The airport is to have the fourth largest landing strip in
Australia which will open up Toowoomba to domestic
flights and have the potential to see the region become a
residential hub for fly-in-fly-out workers.
TOOWOOMBA
HOUSEPRICEPOINT
50
171
+
FRASER COAST HOUSE SALES (p)
<$350,000 $350,000+ $500,000+
MACKAY HOUSE SALES (p)
<$350,000 $350,000+ $500,000+
174
151
168
185
178
79
92
96
79
80
24
27
26
26
30
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
ROCKHAMPTON HOUSE SALES (p)
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
257
245
248
281
297
113
91
123
132
155
25
23
24
26
43
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
TOOWOOMBA HOUSE SALES (p)
<$350,000 $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
38
60
43
50
47
320
275
301
343
294
531
489
545
612
560
222
209
234
279
314
20
28
32
46
39
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE CITY UNIT SALES (p)
<$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
102
137
169
132
134
134
141
171
132
65
43
51
86
79
14
24
29
29
36
4
1
2
2
3
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
BRISBANE SURROUNDS UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
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 57DEC 13
GOLD COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+ $1m+
17 9 2 6DEC 13
BUNDABERG UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+
19
17
10
25
18
14
12
20
17
10
6
2
4
3
1
1
0
0
1
0
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
FRASER COAST UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
DEC
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
DEC
MAR
JUN
SEP
DEC
(p) Prelim
Source: R
28
36
27
38
37
21
21
23
27
34
7
8
5
10
7
1
0
3
0
3
DEC 12
MAR 13
JUN 13
SEP 13
DEC 13
TOOWOOMBA UNIT SALES (p)
<$250,000 $250,000+ $350,000+ $500,000+
(p) Preliminary. See explanatory notes for further information.
Source: REIQ, data provided by RP Data.
BRISBANE
SURROUNDS
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
Includes
IPSWICH,
LOGAN,
MORETON
BAY
&
REDLAND
45
31
35
37
16
45
49
26
27
32
29
40
34
37
28
12
8
6
7
10
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
BRISBANE
CITY
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
$500,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
38
55
34
39
25
2
1
1
3
2
0
2
1
3
2
DEC
12
MAR
13
JUN
13
SEP
13
DEC
13
TOOWOOMBA
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+
(p)
Preliminary.
See
explanatory
notes
for
further
informaKon.
Source:
REIQ,
data
provided
by
RP
Data.
41
3
0
DEC
13
FRASER
COAST
LAND
SALES
(p)
<$250,000
$250,000+
$350,000+