Your local property report localmarket This report covers your local suburbs of Coomera, Oxenford, Pimpama, Upper Coomera and Willow Vale (07) 5585 7888 coomera@ljh.com.au coomera.ljhooker.com.au April 2023 LJ Hooker Coomera
What’s happening in our local property market
Strongest growth
Most traded
Fastest sellers
Across our area, there were 2,240 listings advertised in the past 12 months compared to the rolling 12 month listings of 2,396 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 2,240 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 2,234 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Pimpama which has seen its median sales price grow by 18.8%. The median sales price of a home in Pimpama is now $677,000. Coomera saw its median house sales price grow by 17.0% with the median price now sitting at $740,000 and Upper Coomera grew 15.9% across 544 individual sales with a median of $765,225.
The most traded suburb for houses in our area has been Pimpama with 547 homes sold over the past 12 months while Coomera had the most unit sales with 134 transactions. House prices in Pimpama have performed strongly with growth of 18.8% and now have a median price of $677,000.
Top performing local suburbs
Over the past month, about $600,000 in units and $15.87m in houses has been sold in Pimpama with $44.65m and $400.77m respectively sold over the past 12 months.
Oxenford has demonstrated the strongest price growth for units with prices rising 27.8% over the past 12 months. The median sales price for units in Oxenford is now $490,000 and with a median rent of $495 a week, they offer a rental yield of 5.6%.
The highest median housing rents in our area are $680 per week in Oxenford and for units $580 per week in Upper Coomera. Housing rental yields in Pimpama 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 15 days in Willow Vale to 21 days in Coomera, and the shortest median time to sell a unit is 11 days in Oxenford.
Houses Units Number sold (12 months) Median Price Median Growth 12 months Annual Change over 10 years Pimpama Coomera Upper Coomera Oxenford Upper Coomera Coomera 547 440 544 55 101 134 $677,000 $740,000 $765,225 $490,000 $531,000 $500,000 18.8% 17.0% 15.9% 27.8% 23.9% 23.5% 5.7% 8.0% 7.5% 7.3% 6.4% 4.8% LJ Hooker Coomera
Pimpama 18.8% Oxenford 27.8% Pimpama 547 sales Coomera 134 sales Willow Vale 15 days Oxenford 11 days
This month it’s all about Upper Coomera
● One of the most popular suburbs in our region is Upper Coomera where 611 houses were listed for sale over the past year. Houses in Upper Coomera have an average land size of 767 square metres.
● The suburb also has a medium apartment market with 92 units listed for sale over the past year.
● The suburb is tightly held with residents typically holding their house for 9.2 years.
● The median value of houses in Upper Coomera is $791,234. This is higher than the median sales price which is currently $765,225.
● Over the past 12 months, buyer interest has eased with 544 houses sold this year compared to 705 sales last year.
● Houses are typically selling within 20 days.
● Sales prices have grown by 15.9% over the past 12 months and vendors are typically discounting by -5.2% to secure a sale.
● All of this means it is now a good time to buy in Upper Coomera.
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 Coomera where houses have observed a compound growth of 7.8% 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 17.0% over the past 12 months. The median price of houses in Coomera is currently $740,000. The suburb has also performed very strongly over the past three years with a growth of 45.1%.
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 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 Jan 2022 to 31 Dec 2022) Over 12-month period (1 Jan 2022 to 31 Dec 2022) Coomera Upper Coomera Oxenford Oxenford Upper Coomera Pimpama 7.8% 7.3% 6.4% 7.0% 6.1% 2.9%
LJ Hooker Coomera
61192 2020 $455.87m$53.74m
544101 $765,225$531,000 15.9%23.9% $650$580 4.8%5.7%
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
