Your local property report localmarket This report covers your local suburbs of Cedar Creek, Maudsland, Tamborine, Tamborine Mountain and Wongawallan (07) 5585 7888 coomera@ljh.com.au coomera.ljhooker.com.au June 2023 LJ Hooker Coomera
What’s happening in our local property market
Strongest growth
Most traded
Fastest sellers
Across our area, there were 569 listings advertised in the past 12 months compared to the rolling 12 month listings of 596 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 569 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 448 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Tamborine which has seen its median sales price grow by 16.1%. The median sales price of a home in Tamborine is now $1,080,000. Cedar Creek saw its median house sales price grow by 14.3% with the median price now sitting at $1,200,000 and Maudsland grew 11.7% across 148 individual sales with a median of $900,000.
The most traded suburb for houses in our area has been Tamborine Mountain with 185 homes sold over the past 12 months and it also had the most unit sales with 13 transactions. House prices in Tamborine Mountain have performed well with growth of 9.5% and now have a median price of $925,000.
Over the past month, about $770,000 in units and $13.98m in houses has been sold in Tamborine Mountain with $7,226,000 and $202.32m respectively sold over the past 12 months.
Tamborine Mountain has demonstrated the strongest price growth for units with prices rising 10.0% over the past 12 months.
Housing rental yields in Maudsland are currently 4.5% demonstrating why the area is popular with investors.
There is not sufficient data discuss the time it takes to sell a home in our region.
Top performing
Houses Units Number sold (12 months) Median Price Median Growth 12 months Annual Change over 10 years Tamborine Cedar Creek Maudsland Tamborine Mountain 67 12 148 13 $1,080,000 $1,200,000 $900,000 $580,000 16.1% 14.3% 11.7% 10.0% 8.8% 14.3% 7.3% 17.1% LJ Hooker Coomera
local suburbs
Tamborine 16.1% Tamborine Mountain 10.0% Tamborine Mountain 185 sales Tamborine Mountain 13 sales Maudsland 20 days NA NA days
This month it’s all about Tamborine Mountain
● One of the most popular suburbs in our region is Tamborine Mountain where 252 houses were listed for sale over the past year. Houses in Tamborine Mountain have an average land size of 2,065 square metres.
● The suburb also has a small apartment market with 12 units listed for sale over the past year.
● The suburb is tightly held with residents typically holding their house for 11.1 years.
● The median value of houses in Tamborine Mountain is $924,111. This is lower than the median sales price which is currently $925,000.
● Over the past 12 months, buyer interest has eased with 185 houses sold this year compared to 246 sales last year.
● Houses are typically selling within 42 days.
● Sales prices have grown by 9.5% over the past 12 months and vendors are typically discounting by -7.1% to secure a sale.
● All of this means it is now a good time to buy in Tamborine Mountain.
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 Wongawallan where houses have observed a compound growth of 8.6% 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 10.0% over the past 12 months.
The median price of houses in Wongawallan is currently $1,375,000. The suburb has also performed very strongly over the past three years with a growth of 56.3%.
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 Wongawallan could be worth considering for your next property purchase.
Suburb snapshot Houses Units
Number Sold
Median Sale Price
Annual Change in Median Price
Median Asking Rent
Indicative Gross Rental Yield
Total Listings
Average Days on Market
Total Value of Sales
10 year growth suburbs in our area
10yr Compound Growth Houses Units
Suburb
Over 12-month period (1 Mar 2022 to 28 Feb 2023) Over 12-month period (1 Mar 2022 to 28 Feb 2023) Wongawallan Tamborine Tamborine Mountain 8.6% 8.5% 8.2%
LJ Hooker Coomera 18513 $925,000$580,000 9.5%10.0% $650 NA 4.4% NA 25212 42 NA $202.32m$7,226,000
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 Know what your property is worth in today’s market. Ask the team at LJ Hooker Coomera. the team (07) 5585 7888 coomera@ljh.com.au LJ Hooker Coomera coomera.ljhooker.com.au MOSTSATISFIEDCUSTOMERS STNAGEATETSALEER 2018 2018 For 90 years people have been at the core of our business. We’re extremely proud to be the winner of the prestigious Canstar award for the Most Satisfied Real Estate Customers. You’ll always be at the centre of everything we do. Real estate is not about houses, it’s about people. - Sir
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Leslie Hooker
