localmarket rty report prope local Your This report covers your local suburbs of Jacobs Well, Kingsholme, Ormeau, Ormeau Hills, Pimpama and Yatala
June
2022
(07) 5549 4500 ormeau@ljh.com.au ormeau.ljhooker.com.au
What’s happening in our local property market Strongest growth
Most traded
Fastest sellers
Jacobs Well 31.5%
Pimpama 737 sales
Ormeau 11 days
Ormeau 20.8%
Pimpama 105 sales
Ormeau 12 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 1,599 listings advertised in the past 12 months compared to the rolling 12 month listings of 1,509 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 1,599 properties listed for sale, over the past 12 months, which is higher than the same time last year. This has impacted sales with 1,555 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Jacobs Well which has seen its median sales price grow by 31.5%. The median sales price of a home in Jacobs Well is now $815,000. Yatala saw its median house sales price grow by 29.7% with the median price now sitting at $1,080,000 and Ormeau grew 24.2% across 385 individual sales with a median of $655,000. The most traded suburb for houses in our area has been Pimpama with 737 homes sold over the past 12 months and it also had the most unit sales with 105 transactions. House prices in Pimpama have performed strongly with growth of 23.4% and now have a median price of $580,000.
Over the past month, about $4,709,128 in units and $42.79m in houses has been sold in Pimpama with $47.15m and $456.29m respectively sold over the past 12 months. Ormeau has demonstrated the strongest price growth for units with prices rising 20.8% over the past 12 months. The highest median housing rents in our area are $600 per week in Jacobs Well and for units $460 per week in Pimpama. Housing rental yields in Pimpama are currently 4.7% demonstrating why the area is popular with investors. The time it takes to sell a house in our region ranges from 11 days in Ormeau to 24 days in Yatala, and the shortest median time to sell a unit is 12 days in Ormeau.
Top performing local suburbs Jacobs Well
97
$815,000
31.5%
8.2%
Yatala
19
$1,080,000
29.7%
6.9%
Ormeau
385
$655,000
24.2%
4.6%
Ormeau
32
$432,500
20.8%
2.7%
Pimpama
105
$435,900
20.4%
2.6%
Houses
Units
Number sold (12 months)
Median Price
Median Growth 12 months
Annual Change over 10 years
This month it’s all about Ormeau One of the most popular suburbs in our region is Ormeau where 417 houses were listed for sale over the past year. Houses in Ormeau have an average land size of 1,051 square metres.
Suburb snapshot
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The suburb also has a small apartment market with 19 units listed for sale over the past year.
Number Sold
●
The suburb is tightly held with residents typically holding their house for 9.8 years.
Median Sale Price
●
The median value of houses in Ormeau is $814,636. This is higher than the median sales price which is currently $655,000.
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Over the past 12 months, buyer interest has lifted with 385 houses sold this year compared to 258 sales last year.
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Houses are typically selling within 11 days.
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Sales prices have grown by 24.2% over the past 12 months and vendors are typically discounting by -3.5% to secure a sale.
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All of this means it is now a great time to sell in Ormeau.
Over 12-month period (1 Feb 2021 to 31 Jan 2022)
●
Houses
Units
385
32
$655,000
$432,500
Annual Change in Median Price
24.2%
20.8%
Median Asking Rent
$550
NA
Indicative Gross Rental Yield
4.5%
NA
Total Listings
417
19
Average Days on Market
11
12
$270.87m
$14.45m
Total Value of Sales
Our local area expertise – investing For housing investors, the best buying in our area can be found in Pimpama where houses are returning a 4.7% yield, while units in Pimpama are returning a 5.2% yield - making it a good place for savvy investors to look for inflation-beating returns.
good rental returns. For those interested in investing in houses, also consider Ormeau Hills where prices have moved strongly by 18.1% while yields are 4.6% - which could be a cash flow positive investment.
The median price of a house in Pimpama currently is $580,000 and average rents are $510 per week whereas median unit prices are $435,900 in Pimpama with rents of $460 per week. This means it could be possible to purchase a cash-positive investment unit. Unit prices in Pimpama have jumped by 20.4% over the past year, meaning investors who bought a year ago have seen good gains and
Highest yielding suburbs in our area Number Sold
Median Sale Price
Change in Median Price
Median Asking Rent
Indicative Gross Rental Yield
Pimpama
737
$580,000
23.4%
$510
4.7%
Ormeau Hills
156
$640,000
18.1%
$580
4.6%
Ormeau
385
$655,000
24.2%
$550
4.5%
Pimpama
105
$435,900
20.4%
$460
5.2%
Over 12-month period (1 Feb 2021 to 31 Jan 2022)
Suburb
Houses
Units
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Know what your property is worth in today’s market. Ask the team at LJ Hooker Ormeau. (07) 5549 4500 ormeau@ljh.com.au LJ Hooker Ormeau ormeau.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. 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