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 July 2023 LJ Hooker Coomera
What’s happening in our local property market
Strongest growth
Most traded
Fastest sellers
Across our area, there were 551 listings advertised in the past 12 months compared to the rolling 12 month listings of 575 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 551 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 425 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Wongawallan which has seen its median sales price grow by 18.6%. The median sales price of a home in Wongawallan is now $1,381,250. Tamborine saw its median house sales price grow by 11.3% with the median price now sitting at $1,067,500 and Maudsland grew 7.3% across 140 individual sales with a median of $882,500.
The most traded suburb for houses in our area has been Tamborine Mountain with 171 homes sold over the past 12 months and it also had the most unit sales with 15 transactions. House prices in Tamborine Mountain have performed well with growth of 6.9% and now have a median price of $925,000.
Over the past month, about $905,000 in units and $8,646,000 in houses has been sold in Tamborine Mountain with $8,131,000 and $184.6m respectively sold over the past 12 months.
Tamborine Mountain has demonstrated the strongest price growth for units with prices rising 4.0% over the past 12 months.
Housing rental yields in Maudsland are currently 4.6% 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 Wongawallan Tamborine Maudsland Tamborine Mountain 20 64 140 15 $1,381,250 $1,067,500 $882,500 $580,000 18.6% 11.3% 7.3% 4.0% 9.2% 8.3% 7.3% 18.1% LJ Hooker Coomera
local suburbs
Wongawallan 18.6% Tamborine Mountain 4.0% Tamborine Mountain 171 sales Tamborine Mountain 15 sales Maudsland 21 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 244 houses were listed for sale over the past year. Houses in Tamborine Mountain have an average land size of 2,024 square metres.
● The suburb also has a small apartment market with 13 units listed for sale over the past year.
● The suburb is tightly held with residents typically holding their house for 11.9 years.
● The median value of houses in Tamborine Mountain is $956,626. This is higher than the median sales price which is currently $925,000.
● Over the past 12 months, buyer interest has eased with 171 houses sold this year compared to 249 sales last year.
● Houses are typically selling within 47 days.
● Sales prices have grown by 6.9% over the past 12 months and vendors are typically discounting by -7.2% to secure a sale.
● All of this means it is now a good time to buy in Tamborine Mountain.
Our local area expertise – investing
For those interested in investing in houses, also consider Tamborine Mountain where prices have grown 6.9% while yields are 4.4% - which could be a cash flow positive investment.
Highest yielding suburbs in our area
Suburb Number Sold Median Sale Price Change in Median Price Median Asking Rent Indicative Gross Rental Yield Houses Units Suburb snapshot Houses Units Number Sold Median Sale Price
Change in Median Price
Asking Rent
Gross Rental Yield
Listings
Days on Market
Value of Sales
Annual
Median
Indicative
Total
Average
Total
Over 12-month period (1 May 2022 to 30 Apr 2023) Over 12-month period (1 May 2022 to 30 Apr 2023) Maudsland Tamborine Mountain Tamborine 140 171 64 $882,500 $925,000 $1,067,500 7.3% 6.9% 11.3% $795 $650 $775 4.6% 4.4% 4.0%
LJ Hooker Coomera 17115 $925,000$580,000 6.9%4.0% $650 NA 4.4% NA 24413 47 NA $184.6m$8,131,000
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
