Local Market Report January 2019

localmarket rty report prope local Your This report covers your local suburbs of Ashmore, Carrara, Gilston, Highland Park, Molendinar, Mount Nathan, Nerang and Worongary

January

2019

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

LJ Hooker Nerang

What’s happening in our local property market Strongest growth

Most traded

Fastest sellers

Highland Park 9.1%

Nerang 248 sales

Ashmore 27 days

Worongary 81.7%

Carrara 151 sales

Ashmore 46 days

At LJ Hooker Nerang our goal is to provide you with the information you need to make confident decisions about property - whether you are buying, selling, investing or renting. We have created this report which details local market conditions and how property is performing in your area which at times can be very different to the combined performance of the capital cities. Let us help you stay on top of changes in your local property market every month.

Across our local market, we have seen 2,022 properties listed for sale over the past 12 months which is higher than the same time last year. This has impacted sales with 1,418 taking place over the period.

Over the past month, about $623,000 in units and $7,058,500 in houses has been sold in Nerang with $37.7m and $133.63m respectively sold over the past 12 months.

Looking at the house market, the best performing suburb has been Highland Park which has seen its median sales price grow by 9.1%.

The median sales price of a home in Highland Park is now $570,000.

Molendinar has demonstrated the strongest price growth for units with prices rising 5.2% over the past 12 months. The median sales price for units in Molendinar is now $305,000 and with a median rent of $380 a week, they offer a rental yield of 6.5%.

Worongary saw its median house sales price grow by 9.1% with the median price now sitting at $630,000 and Mount Nathan grew 6.4% across 26 individual sales with a median of $785,000.

The most traded suburb for houses in our area has been Nerang with 248 homes sold over the past 12 months while Carrara had the most unit sales with 151 transactions. House prices in Nerang have performed well with growth of 4.4% and now have a median price of $470,000.

The highest median housing rents in our area are $615 per week in Mount Nathan and for units $498 per week in Gilston. Housing rental yields in Highland Park are currently 5.4% demonstrating why the area is popular with investors.

The time it takes to sell a house in our region ranges from 27 days in Ashmore to 83 days in Mount Nathan, and the shortest median time to sell a unit is 46 days in Ashmore.

Top performing local suburbs Highland Park

105

$570,000

9.1%

2.8%

Worongary

96

$630,000

9.1%

4.0%

Mount Nathan

26

$785,000

6.4%

1.6%

Molendinar

29

$305,000

5.2%

-1.3%

Ashmore

69

$338,000

3.4%

1.1%

Highland Park

32

$302,000

-0.3%

1.6%

Houses

Units

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

LJ Hooker Nerang

This month it’s all about Nerang One of the most popular suburbs in our region is Nerang where 314 houses were listed for sale over the past year. Houses in Nerang have an average land size of 1,340 square metres.

Suburb snapshot

●

The suburb also has a large apartment market with 152 units listed for sale over the past year.

Number Sold

●

The suburb is tightly held with residents typically holding their house for 10.6 years.

Median Sale Price

●

The median value of houses in Nerang is $483,428. This is higher than the median sales price which is currently $470,000.

●

Over the past 12 months, buyer interest has eased with 248 houses sold this year compared to 266 sales last year.

●

Houses are typically selling within 31 days.

●

Sales prices have stabilised by 4.4% over the past 12 months and vendors are typically discounting by -5.7% to secure a sale.

●

All of this means it is now a good time to buy in Nerang.

Over 12-month period (1 Oct 2017 to 30 Sep 2018)

●

Houses

Units

248

122

$470,000

$309,000

Annual Change in Median Price

4.4%

-1.9%

Median Asking Rent

$450

$375

Indicative Gross Rental Yield

5.2%

7.0%

Total Listings

314

152

Average Days on Market

31

47

$133.63m

$37.7m

Total Value of Sales

Our local area expertise – investing For housing investors, the best buying in our area can be found in Highland Park where houses are returning a 5.4% yield, while units in Highland Park are returning a 7.4% yield - representing great opportunity to lock in strong inflation busting returns.

The median price of a house in Highland Park currently is $570,000 and average rents are $515 per week whereas the median unit price currently sits at $302,000.

Ashmore is the second highest yielding unit suburb in our area with units that cost around the median price of $338,000 returning 7.3% with median asking rents of $430 per week, while Nerang is also worth watching with returns of 7.0% based on a median price of $309,000 and rents of $375 per week.

For those interested in investing in houses, also consider Molendinar where prices have eased -2.8% while yields are 5.3% - which could be a cash flow positive investment.

Highest yielding suburbs in our area

Over 12-month period (1 Oct 2017 to 30 Sep 2018)

Suburb

Number Sold

Median Sale Price

Change in Median Price

Median Asking Rent

Indicative Gross Rental Yield

Highland Park

105

$570,000

9.1%

$515

5.4%

Molendinar

94

$581,000

-2.8%

$580

5.3%

Carrara

177

$602,500

2.6%

$550

5.3%

Highland Park

32

$302,500

-0.3%

$380

7.4%

Ashmore

69

$338,000

3.4%

$430

7.3%

Nerang

122

-1.9%

$375

7.0%

Houses

Units

$309,000

LJ Hooker Nerang

2018

S ER M

MO ST

IED CUS TISF TO SA

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TS

EA N LE STATE AGE

”

Real estate is not about houses, it’s about people.”

- Sir Leslie Hooker

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.

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

Ask the team at LJ Hooker Nerang. the team (07) 5581 4422 nerang@ljh.com.au LJ Hooker Nerang nerang.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.

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