localmarket This report covers the areas of Ashmore, Benowa and Molendinar
April 2019 te Upda
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 57 days
Molendinar 10.15%
Benowa 88 sales
Benowa 71 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. Across our local market, we have seen 692 properties listed for
sales price for units in Molendinar is now $320,000 and with a
sale over the past 12 months, with 588 sales taking place over
median rent of $390 a week, they offer a rental yield of 6.3%.
the past 12 months.
The highest median housing rents in our area are $780 per week
Looking at the house market, the best performing suburb over
and $550 per week, each in Benowa. This is resulting in gross
the past 12 months has been Ashmore which has seen its
yields of 5.6% and 5.3% respectively.
median sales price grow by 1.34%. The median sales price of a
The time it takes to sell a house in our region is 57 days in
home in Ashmore is now $585,000. The current median rent for a house in Ashmore is currently $530 per week, giving investors a gross rental yield of 4.7%.
Ashmore, 68 days in Molendinar. In Benowa it takes on average 71 days to sell for both houses and units.
Molendinar has demonstrated the strongest price growth for units with prices rising 10.15% over the past 12 months. The median
Local Suburb Performance Houses
Units
Houses
Units
Houses
Units
Ashmore
193
80
$585,000
$585,000
1.34%
6.37%
Benowa
135
88
$885,000
$885,000
1.14%
8.69%
Molendinar
85
25
$593,000
$320,000
-0.42%
10.15%
Number of sold (12 months)
Median Price
Media Growth 12 months
Suburb Spotlight: Ashmore Ashmore is approximately 6.8 square kilometres. It has 45 parks covering nearly 10.1% of total area. The population of Ashmore in 2011 was 11,586 people. By 2016 the population was 11,875 showing a population growth of 2.5% in the area during that time.
Suburb Snapshot
In 2011, 69.1% of the homes in Ashmore were owneroccupied compared with 68.2% in 2016. Currently the median sales price of houses in the area is $585,000.
Houses
Units
193
62
Median Sale Price
$585,000
$343,000
Total New Listings
237
56
Number Sold
Total Value Of Sales
$100,762,200
$19,387,000
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. The best performing suburb in our area for long term growth is Ashmore where houses have observed a compound growth of 5.3% over the past 5 years. This figure is annualised, so it identifies that properties in the suburb have grown by this average amount each year. The median price of houses in Ashmore is currently $585,000. Compared to the same period five years ago, the median unit sales price for units increased 26.3% which equates to a compound annual growth rate of 4.8%. Of course, past growth is not a guarantee of future performance but it does give you an insight into the fundamentals.
5 year growth in our area Suburb
Houses
Units
Ashmore
5.3%
Benowa
4.6%
Molendinar
4.6%
Ashmore
4.8%
Benowa
-0.8%
Molendinar
3.9%
over a rolling 12-month period
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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 inancial advice. For our complete terms and conditions of use, go to www.corelogic.com.au