LocalMarketReport - LJ Hooker Coomera

localmarket rty report prope local Your This report covers your local suburbs of Coomera, Oxenford, Pimpama, Upper Coomera and Willow Vale

December

2021

(07) 5549 4500 coomera@ljh.com.au coomera.ljhooker.com.au

What’s happening in our local property market Strongest growth

Most traded

Fastest sellers

Oxenford 19.3%

Upper Coomera 666 sales

Oxenford 11 days

Coomera 22.8%

Coomera 145 sales

Upper Coomera 17 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 2,472 listings advertised in the past 12 months compared to the rolling 12 month listings of 2,403 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 2,472 properties listed for sale, over the past 12 months, which is higher than the same time last year. This has impacted sales with 2,544 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Oxenford which has seen its median sales price grow by 19.3%. The median sales price of a home in Oxenford is now $614,550. Upper Coomera saw its median house sales price grow by 15.7% with the median price now sitting at $575,000 and Pimpama grew 13.8% across 586 individual sales with a median of $520,000.

The most traded suburb for houses in our area has been Upper Coomera with 666 homes sold over the past 12 months while Coomera had the most unit sales with 145 transactions. House prices in Upper Coomera have performed strongly with growth of 15.7% and now have a median price of $575,000.

Over the past month, about $2,212,000 in units and $46.97m in houses has been sold in Upper Coomera with $46.85m and $413.92m respectively sold over the past 12 months.

Coomera has demonstrated the strongest price growth for units with prices rising 22.8% over the past 12 months. The median sales price for units in Coomera is now $350,000 and with a median rent of $400 a week, they offer a rental yield of 5.9%.

The highest median housing rents in our area are $545 per week in Oxenford and for units $440 per week in Upper Coomera. Housing rental yields in Oxenford are currently 4.9% demonstrating why the area is popular with investors.

The time it takes to sell a house in our region ranges from 11 days in Oxenford to 20 days in Coomera, and the shortest median time to sell a unit is 17 days in Upper Coomera.

Top performing local suburbs Oxenford

262

$614,550

19.3%

3.4%

Upper Coomera

666

$575,000

15.7%

3.7%

Pimpama

586

$520,000

13.8%

3.5%

Coomera

145

$350,000

22.8%

2.4%

Pimpama

78

$408,500

21.9%

1.5%

Upper Coomera

103

$385,000

14.1%

1.2%

Houses

Units

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

This month it’s all about Upper Coomera One of the most popular suburbs in our region is Upper Coomera where 694 houses were listed for sale over the past year. Houses in Upper Coomera have an average land size of 672 square metres.

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The suburb also has a medium apartment market with 96 units listed for sale over the past year.

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The suburb is tightly held with residents typically holding their house for 9.1 years.

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The median value of houses in Upper Coomera is $697,983.

This is higher than the median sales price which is currently $575,000.

Suburb snapshot

Houses

Units

666

103

$575,000

$385,000

Annual Change in Median Price

15.7%

14.1%

Median Asking Rent

$520

$440

Indicative Gross Rental Yield

4.8%

6.3%

Total Listings

694

96

14

17

$413.92m

$46.85m

Number Sold Median Sale Price Over 12-month period (1 Sep 2020 to 31 Aug 2021)

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Over the past 12 months, buyer interest has lifted with 666 houses sold this year compared to 517 sales last year.

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Houses are typically selling within 14 days.

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Sales prices have grown by 15.7% over the past 12 months and vendors are typically discounting by -3.0% to secure a sale.

Average Days on Market

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

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 Coomera where houses have observed a compound growth of 4.7% 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 12.1% over the past 12 months.

The median price of houses in Coomera is currently $585,000. The suburb has also performed very strongly over the past three years with a growth of 11.2%.

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 Coomera could be worth considering for your next property purchase.

Suburb Over 12-month period (1 Sep 2020 to 31 Aug 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

Coomera

4.7%

Willow Vale

3.7%

Upper Coomera

3.6%

Oxenford

1.9%

Coomera

1.1%

Pimpama

1.0%

Houses

Units

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

Ask the team at LJ Hooker Coomera.

(07) 5585 7888 coomera@ljh.com.au LJ Hooker Coomera coomera.ljhooker.com.au

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