Local Market Report for Ashmore, Molendinar and Benowa - August 2019

localmarket This report covers the areas of Ashmore, Benowa and Molendinar

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Brought to you by LJ Hooker Nerang

07 5581 4422

nerang@ljh.com.au

nerang.ljhooker.com.au

What’s happening in your local market Strongest Growth

Most Traded

Fastest Sellers

Ashmore 1.34%

Ashmore 193 sales

Ashmore 60 days

Molendinar 10.15%

Benowa 88 sales

Ashmore 70 days

At LJ Hooker Nerang our goal is to provide you with the information you need to make confident decisions about property - whether you are buying, selling, investing or renting. We have created this report which details local market conditions and how property is performing in your area which at times can be very different to the combined performance of the capital cities. Let us help you stay on top of changes in your local property market every quarter.

Ashmore saw its median house sales price grow by 1.4% with

Property value increases for Benowa have tracked higher than

the median price now sitting at $583,000. The unit market is

the QLD average of -0.01% over the last 12 months.

looking like a good deal for investors given its very high yields,

When looking at the potential capital gains offered to property

affordability and growth potential.

investors over the last 3 years, Benowa comes in at number

Molendinar has demonstrated the strongest price growth for

196th in QLD.

units with prices rising 5.4% over the past 12 months. The median

The time it takes to sell a house in our region ranges from 72.27

sales price for units in Molendinar is now $305,000 and with a

days in Benowa, 72.82 days in Molendinar and to 60 days to sell

median rentof $390 a week, they offer a rental yield of 6.4%.

in Ashmore,

The highest median housing rents in our area are $590 per week in Molendinar

Local Suburb Performance Houses

Units

Houses

Units

Houses

Units

Ashmore

173

60

$575,000

$336,750

-0.52%

-0.37%

Benowa

124

80

$850,000

$510,000

-3.52%

11.37%

Molendinar

82

25

$597,250

$305,000

3.15%

2.87%

Number of sold (12 months)

Median Price

Media Growth 12 months

Suburb Spotlight: Molendinar The size of Molendinar is approximately 7.7 square kilometres.

It has 42 parks covering nearly 10.4% of total area.

Currently the median sales price of houses in the area is $597,250.

The population of Molendinar in 2011 was 6,213 people.

By 2016 the population was 6,379 showing a population growth of 2.7% in the area during that time.

Suburb Snapshot

Houses

Units

82

25

Median Sale Price

$597,250

$305,000

Total New Listings

98

26

Number Sold

$50,958,123

Total Value Of Sales

$5,435,200

over a rolling 12-month period

Our local area expertise: long term growth Research shows that most people own a property for an average of seven years before they decide to sell.

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.

Nicknamed “Silver Bridle,” the suburb of Molendinar on the Gold Coast is struggling to sustain growth in its unit market.

Molendinar recorded some growth over the most recent five-year period, with the price hike peaking at 8.8% three years previously. However, values fell again by 2.2% in the 12 months leading up to November 2017.

Nonetheless, the affordability of apartments here (at a median price of $310,000) is coupled with a very high average rental yield of 7%. Thus, demand is enough that vendors can sell properties at an average discount rate of just 3.7%.

The suburb is in close proximity to Griffith Hospital and Griffith University. It is also near shops like a supermarket and Bunnings. The beach is just about 15 minutes away.

Median 5 year growth in our area Suburb

Houses

Units

Ashmore

31.31%

Benowa

29.2%

Molendinar

24.87%

Ashmore

31.73%

Benowa

-0.28%

Molendinar

9.78%

MO ST

” 2018

S ER M

IED CUS TISF TO SA

Real estate is not about houses, it’s about people. ” - Sir Leslie Hooker

TS

R

EA N LE STATE AGE

For 90 years people have been at the core of our business. We're extremely proud to be the winner of the prestigious Canstar Blue award for the Most Satisfied Real Estate Customer. You'll always be at the centre of everything we do

Know what your property is worth in today’s market.

Call the team at LJ Hooker on (07) 5581 4422

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