LocalMarketReport - Advancetown, Beechmont, Lower Beechmont, Numinbah Valley and Springbrook

localmarket rty report prope local Your This report covers your local suburbs of Advancetown, Beechmont, Lower Beechmont, Numinbah Valley and Springbrook

December

2021

(07) 5581 4422 nerang@ljh.com.au solutions.ljhooker.com.au

What’s happening in our local property market Strongest growth

Most traded

Beechmont 25.0%

Fastest sellers

Lower Beechmont 35 sales

Lower Beechmont 13 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 111 listings advertised in the past 12 months compared to the rolling 12 month listings of 95 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 111 properties listed for sale, over the past 12 months, which is higher than the same time last year. This has impacted sales with 91 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Beechmont which has seen its median sales price grow by 25.0%. The median sales price of a home in Beechmont is now $625,000. Springbrook saw its median house sales price grow by 18.6% with the median price now sitting at $495,000 and Lower Beechmont grew 11.9% across 35 individual sales with a median of $540,000.

There is not sufficient data discuss the time it takes to sell a home in our region.

The most traded suburb for houses in our area has been Lower Beechmont with 35 homes sold over the past 12 months and it also had the most unit sales with 0 transactions. House prices in Lower Beechmont have performed strongly with growth of 11.9% and now have a median price of $540,000.

Top performing local suburbs Beechmont

15

$625,000

25.0%

8.3%

Springbrook

29

$495,000

18.6%

6.5%

Lower Beechmont

35

$540,000

11.9%

3.3%

Houses

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

This month it’s all about Lower Beechmont ●

One of the most popular suburbs in our region is Lower Beechmont where 42 houses were listed for sale over the past year. Houses in Lower Beechmont have an average land size of 1,257 square metres.

Suburb snapshot

●

Houses

Units

35

0

$540,000

NA

11.9%

NA

Median Asking Rent

NA

NA

Indicative Gross Rental Yield

NA

NA

Total Listings

42

NA

Average Days on Market

13

NA

$20.41m

NA

Number Sold

The suburb is tightly held with residents typically holding their house for 11.6 years.

●

The median value of houses in Lower Beechmont is $684,084.

This is higher than the median sales price which is currently $540,000.

●

Over the past 12 months, buyer interest has lifted with 35 houses sold this year compared to 21 sales last year.

●

Houses are typically selling within 13 days.

●

Sales prices have grown by 11.9% over the past 12 months and vendors are typically discounting by -5.1% to secure a sale.

●

All of this means it is now a great time to sell in Lower Beechmont.

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

●

Annual Change in Median Price

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 Springbrook where houses have observed a compound growth of 5.5% 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 18.6% over the past 12 months.

The median price of houses in Springbrook is currently $495,000. The suburb has also performed very strongly over the past three years with a growth of 21.8%.

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 Springbrook 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.

Houses

10yr Compound Growth

Springbrook

5.5%

Lower Beechmont

2.8%

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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 financial advice. For our complete terms and conditions of use, go to www.corelogic.com.au