localmarket rty report prope local Your This report covers your local suburbs of Coomera, Oxenford, Pimpama, Upper Coomera and Willow Vale
June
2022
(07) 5585 7888 coomera@ljh.com.au coomera.ljhooker.com.au
LJ Hooker Coomera
What’s happening in our local property market Strongest growth
Most traded
Fastest sellers
Oxenford 34.0%
Pimpama 737 sales
Oxenford 9 days
Coomera 34.9%
Coomera 146 sales
Oxenford 10 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 2,737 listings advertised in the past 12 months compared to the rolling 12 month listings of 2,608 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 2,737 properties listed for sale, over the past 12 months, which is higher than the same time last year. This has impacted sales with 2,852 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Oxenford which has seen its median sales price grow by 34.0%. The median sales price of a home in Oxenford is now $705,000. Upper Coomera saw its median house sales price grow by 28.6% with the median price now sitting at $675,000 and Pimpama grew 23.4% across 737 individual sales with a median of $580,000. The most traded suburb for houses in our area has been Pimpama with 737 homes sold over the past 12 months while Coomera had the most unit sales with 146 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. Coomera has demonstrated the strongest price growth for units with prices rising 34.9% over the past 12 months. The median sales price for units in Coomera is now $425,000 and with a median rent of $440 a week, they offer a rental yield of 5.7%. The highest median housing rents in our area are $600 per week in Oxenford and for units $460 per week in Pimpama. Housing rental yields in Oxenford 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 9 days in Oxenford to 15 days in Willow Vale, and the shortest median time to sell a unit is 10 days in Oxenford.
Top performing local suburbs Oxenford
284
$705,000
34.0%
5.4%
Upper Coomera
707
$675,000
28.6%
6.2%
Pimpama
737
$580,000
23.4%
4.8%
Coomera
146
$425,000
34.9%
3.9%
Upper Coomera
112
$438,750
25.4%
2.3%
Oxenford
70
$410,000
23.4%
4.1%
Houses
Units
Number sold (12 months)
Median Price
Median Growth 12 months
Annual Change over 10 years
This month it’s all about Upper Coomera One of the most popular suburbs in our region is Upper Coomera where 737 houses were listed for sale over the past year. Houses in Upper Coomera have an average land size of 699 square metres.
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The suburb also has a medium apartment market with 95 units listed for sale over the past year.
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The suburb is tightly held with residents typically holding their house for 9.3 years.
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The median value of houses in Upper Coomera is $866,719. This is higher than the median sales price which is currently $675,000.
Suburb snapshot
Houses
Units
707
112
$675,000
$438,750
Annual Change in Median Price
28.6%
25.4%
Median Asking Rent
$570
$460
Indicative Gross Rental Yield
4.6%
5.6%
Total Listings
737
95
11
11
$523.66m
$57.71m
Number Sold Median Sale Price Over 12-month period (1 Feb 2021 to 31 Jan 2022)
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Over the past 12 months, buyer interest has lifted with 707 houses sold this year compared to 533 sales last year.
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Houses are typically selling within 11 days.
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Sales prices have grown by 28.6% over the past 12 months and vendors are typically discounting by -3.6% to secure a sale.
Average Days on Market
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All of this means it is now a great time to sell in Upper Coomera.
Total Value of Sales
Our local area expertise – investing For housing investors, the best buying in our area can be found in Oxenford where houses are returning a 4.7% yield, while units in Oxenford are returning a 6.3% yield - making it a good place for savvy investors to look for inflation-beating returns. The median price of a house in Oxenford currently is $705,000 and average rents are $600 per week whereas median unit prices are $410,000 in Oxenford with rents of $430 per week. This means it could be possible to purchase a cash-positive investment unit. Unit prices in Oxenford have jumped by 23.4% over the past year, meaning investors who bought a year ago have seen good gains and
good rental returns. Coomera is the second best yielding unit suburb in our area with units that cost around the median price of $425,000 returning 5.7% with median asking rents of $440 per week, while Upper Coomera also is worth watching with returns of 5.6% based on a median price of $438,750 and rents of $460 per week. For those interested in investing in houses, also consider Pimpama where prices have moved strongly by 23.4% while yields are 4.7% - which could be a cash flow positive investment.
Highest yielding suburbs in our area Number Sold
Median Sale Price
Change in Median Price
Median Asking Rent
Indicative Gross Rental Yield
Oxenford
284
$705,000
34.0%
$600
4.7%
Pimpama
737
$580,000
23.4%
$510
4.7%
Coomera
621
$649,000
13.9%
$550
4.6%
Oxenford
70
$410,000
23.4%
$430
6.3%
Coomera
146
$425,000
34.9%
$440
5.7%
Upper Coomera
112
$438,750
25.4%
$460
5.6%
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 Coomera. (07) 5585 7888 coomera@ljh.com.au LJ Hooker Coomera coomera.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