LocalMarketReport - Ashmore

localmarket rty report prope local Your This report covers your local suburbs of Ashmore, Benowa and Molendinar April

2022

(07) 5581 4422 solutions.ljhooker.com.au

What’s happening in our local property market Strongest growth

Most traded

Fastest sellers

Benowa 25.7%

Ashmore 275 sales

Ashmore 10 days

Ashmore 39.7%

Benowa 141 sales

Benowa 12 days

The property market has continued to perform strongly despite the Covid pandemic and lockdowns across capital cities. According to CoreLogic, the Australian national home value index rose 6.1% for the June quarter. This is down from a recent peak of 7.0% in the three months to May, but still excellent growth. The combined capital city home values finished the quarter 6.2% higher and combined regional housing values rose 6.0%.

Across the 2021 financial year, Australian dwelling values rose 13.5% - the highest annual growth rate since April 2004.

Across our area, there were 689 listings advertised in the past 12 months compared to the rolling 12 month listings of 723 reported last quarter. Let's take a look at the rest of the data for our local market.

Across our local market, we have seen 689 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 916 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Benowa which has seen its median sales price grow by 25.7%. The median sales price of a home in Benowa is now $1,170,000. Ashmore saw its median house sales price grow by 21.5% with the median price now sitting at $770,000 and Molendinar grew 17.3% across 121 individual sales with a median of $730,000.

The most traded suburb for houses in our area has been Ashmore with 275 homes sold over the past 12 months while Benowa had the most unit sales with 141 transactions. House prices in Ashmore have performed strongly with growth of 21.5% and now have a median price of $770,000.

Over the past month, about $3,711,000 in units and $27.12m in houses has been sold in Ashmore with $53.9m and $238.93m respectively sold over the past 12 months.

Ashmore has demonstrated the strongest price growth for units with prices rising 39.7% over the past 12 months. The median sales price for units in Ashmore is now $440,000 and with a median rent of $470 a week, they offer a rental yield of 6.9%.

The highest median housing rents in our area are $800 per week in Benowa and for units $595 per week in Benowa. Housing rental yields in Molendinar are currently 5.1% demonstrating why the area is popular with investors.

The time it takes to sell a house in our region ranges from 10 days in Ashmore to 29 days in Benowa, and the shortest median time to sell a unit is 12 days in Benowa.

Top performing local suburbs Benowa

232

$1,170,000

25.7%

6.1%

Ashmore

275

$770,000

21.5%

6.3%

Molendinar

121

$730,000

17.3%

4.1%

Ashmore

122

$440,000

39.7%

5.1%

Benowa

141

$592,000

8.9%

2.7%

Molendinar

25

$330,000

0.0%

1.7%

Houses

Units

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

This month it’s all about Ashmore One of the most popular suburbs in our region is Ashmore where 258 houses were listed for sale over the past year. Houses in Ashmore have an average land size of 767 square metres.

Suburb snapshot

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The suburb also has a small apartment market with 78 units listed for sale over the past year.

Number Sold

●

The suburb is tightly held with residents typically holding their house for 12.1 years.

Median Sale Price

●

The median value of houses in Ashmore is $914,064. This is higher than the median sales price which is currently $770,000.

●

Over the past 12 months, buyer interest has lifted with 275 houses sold this year compared to 218 sales last year.

●

Houses are typically selling within 10 days.

●

Sales prices have grown by 21.5% over the past 12 months and vendors are typically discounting by -3.8% to secure a sale.

●

All of this means it is now a great time to sell in Ashmore.

Over 12-month period (1 Dec 2020 to 30 Nov 2021)

●

Houses

Units

275

122

$770,000

$440,000

Annual Change in Median Price

21.5%

39.7%

Median Asking Rent

$650

$470

Indicative Gross Rental Yield

4.7%

6.9%

Total Listings

258

78

Average Days on Market

10

18

$238.93m

$53.9m

Total Value of Sales

Our local area expertise – long term growth 10 year growth suburbs in our area

Research shows that most people own a property for an average of seven years before they decide to sell.

The best performing suburb in our area for long term growth is Ashmore where houses have observed a compound growth of 6.0% over the past 10 years. This figure is annualised, so it identifies that properties in the suburb have grown by this average amount each year. This figure also compares to the median price change of 21.5% over the past 12 months.

The median price of houses in Ashmore is currently $770,000. The suburb has also performed very strongly over the past three years with a growth of 29.0%.

Of course, past growth is not a guarantee of future performance but it does give you an insight into the fundamentals.

All in all, the data signals that Ashmore could be worth considering for your next property purchase.

Suburb Over 12-month period (1 Dec 2020 to 30 Nov 2021)

This means that while understanding growth over the past year is a good indicator of current performance and if a suburb is 'hot', the longer term performance of a suburb is often a more reliable indicator of the value of a property as an investment.

10yr Compound Growth

Ashmore

6.0%

Benowa

5.8%

Molendinar

4.0%

Ashmore

4.4%

Benowa

2.1%

Molendinar

1.4%

Houses

Units

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Data for this report is provided by CoreLogic RP Data. In compiling this publication, CoreLogic has relied upon information supplied by a number of external sources.

CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information. This data is provided as general information only and is not intended as financial advice. For our complete terms and conditions of use, go to www.corelogic.com.au