Carrara Market Update

Carrara Market Update A Year In Review Brought to you by Carrara Area Specialist Chris Pittaway 0410 229 244 ...Helping clients in Carrara for 15 years.

With another year gone, it’s great to review what has been happening in your suburb throughout 2018.

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, investing or renting. We have created a report which details local market conditions and how properties, agencies and individual agents are performing in Carrara. Let us help you stay on top of changes in your local property market.

Carrara Overview: The name Carrara comes from the Aboriginal word ‘ K

a r a r a ’ meaning ‘long flat’.

Carrara has a population of approx.

12,000

The size of Carrara is approximately 13.8 square kilometres2

There are 44 parks covering nearly 13.5% of total area2.

which was a

4.1%

increase over 5 years2

average length

70%

10 years

of homes are owner occupied2

There were

259 sales

2

:

154 houses 105 townhouse/units/other

of property ownership2

Sale prices have grown by

The current median house value is

over the past 12 months2

The current median unit value is $444,0002

2.55%

Sources: 1. RateMyAgent Jan 2019 2. CoreLogic Jan 2019

3. realestate.com.au Jan 2019

$592,0002

Who is the number 1 agent in Carrara? It depends on how you look at it...

246 individual agents listed property in Carrara, but only 113 agents sold properties over 12 months.

Total Sales $

Total Sales No.

Houses

Townhouses, Units, Other

1, 3

Median Days On Market

Median Sales Price

Chris Pittaway LJ Hooker Nerang

10.56m

21

17

4

$540k

36

Agent 2

9.73m

22

7

15

$378k

57

Ewan Kerr LJ Hooker Nerang

7.91m

13

14

1

$605k

49

Agent 4

5.32m

9

7

2

$577k

61

Steve Snow LJ Hooker Nerang

3.56m

8

1

7

$400k

49

Carrara Sales by Agency Chart Title Total Number of Sales - Sold properties in Carrara for the past 12 months1 60

53

21.5% of total sales 50

Axis Title

40

160 different agencies made sales

28

11.4% of total sales

30

Total Number of Sales

20

13

5.3% of total sales

9

10

0

LJ Hooker Nerang

Agency 1

Agency 2

Agency 3

9

Agency 4

8

8

Agency 5

Sources: 1. RateMyAgent Jan 2019 2. CoreLogic Jan 2019

Agency 6

6

Agency 7

5 Agency 8

3. realestate.com.au Jan 2019

5

5

4

1

Agency 9 Agency 10 Agency 11 Agency 12 Agency

2019 Property Forecast

With a country the size and breadth of Australia, where hundreds of marketplaces function independently and simultaneously, it’s no surprise that real estate is a dynamic industry.

The past 12 months have been no exception. Sydney and Melbourne, the largest metropolitan markets, have softened after prolonged growth; while the Gold Coast saw the median house price rise by 4% to $655,000 over 12 months.

So, what’s around the corner in 2019?

Population growth for Queensland is 1.7% which is above the national average, which indicates that the market may continue to strengthen over the next 12 months.

First home buyer demand has increased over the past year and now make up 19.5% of the buyers in Queensland.

While the media seem to talk a lot of doom and gloom, it is important to remember that our market here on the Gold Coast is different to the markets around the country - and even different to the Brisbane market!

That’s why it is always recommended to talk to a local agent when you want to know about the market, and as your local LJ Hooker agent is always more than happy to help!

If you would like to become a Carrara VIP member, simply call or txt me on 0410 229 244 to receive your quarterly Carrara sales update absolutely free.

“Chris has sold many homes for my family and I over the years, and we would not have it any other way. Chris’ professionalism, dedication and superior knowledge sets him apart and above the rest. I would recommend Chris time and time again.”

Happy Seller - 2 Woolmere Street, Carrara

“We originally purchased our home from Chris Pittaway.

We were impressed by his local knowledge and

professional manners. When the time came to sell

we knew that there was no other person we would

trust with the endeavour. By listening and taking his advice we had our house sold very quickly and at a great price.”

Happy Seller - 3 Paddington Drive, Carrara

Chris Pittaway

Carrara Area Specialist 0410 229 244 cpittaway.nerang@ljh.com.au