Your Local Market Report October 2020 - Hinterland

localmarket rty report prope local Your This report covers your local suburbs of Advancetown, Beechmont, Lower Beechmont, Numinbah Valley and Springbrook

October

2020

(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

Springbrook 5.8%

Fastest sellers

Beechmont 24 sales

Springbrook 57 days

Even despite the anxiety around a second wave of Covid-19 infections, the property market continues to recover from the lockdown period. While transaction numbers have been down by around 25 to 30%, property prices have remained very strong. A lack of property on the market supports strong prices as there is a lot of pent up buyer demand. Winter is always a time of lower listing numbers so we feel confident that properties that list to sell at this time will continue to perform very strongly. The easing of restrictions around open for inspections and auctions are encouraging buyers further.

Across our local market, we have seen 90 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 69 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Springbrook which has seen its median sales price grow by 5.8%. The median sales price of a home in Springbrook is now $412,500. Lower Beechmont saw its median house sales price grow by 2.9% with the median price now sitting at $489,000 and Beechmont eased -17.1% across 24 individual sales with a median of $510,000.

There is not sufficient data discuss the time it takes to sell a home in our region.

The most traded suburb for houses in our area has been Beechmont with 24 homes sold over the past 12 months while Lower Beechmont had the most unit sales with 0 transactions. House prices in Beechmont have performed poorly with falls of -17.1% and now have a median price of $510,000.

Top performing local suburbs Springbrook

20

$412,500

5.8%

2.5%

Lower Beechmont

21

$489,000

2.9%

2.8%

Beechmont

24

$510,000

-17.1%

7.8%

Houses

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

LJ Hooker Nerang

This month it’s all about Beechmont ●

One of the most secret suburbs in our region is Beechmont where 32 houses were listed for sale over the past year. Houses in Beechmont have an average land size of 3,415 square metres.

Suburb snapshot

Houses

● The suburb is tightly held with residents typically holding their house for 11.6 years.

●

The median value of houses in Beechmont is $548,176. This is higher than the median sales price which is currently $510,000.

●

Over the past 12 months, buyer interest has lifted with 24 houses sold this year compared to 12 sales last year.

●

Houses are typically selling within 88 days.

●

Sales prices have eased by -17.1% over the past 12 months and vendors are typically discounting by -8.4% to secure a sale.

Number Sold

24

Median Sale Price Over 12-month period (1 Jul 2019 to 30 Jun 2020)

●

$510,000

Annual Change in Median Price

-17.1%

Median Asking Rent

NA

Indicative Gross Rental Yield

NA

Total Listings

32

Average Days on Market

88

Total Value of Sales

$13.63m

Our local area expertise – investing

Highest yielding suburbs in our area Number Sold

Median Sale Price

Change in Median Price

Median Asking Rent

Indicative Gross Rental Yield

SUBURB#01

NA

NA

NA

NA

NA

SUBURB#02

NA

NA

NA

NA

NA

SUBURB#03

NA

NA

NA

NA

NA

SUBURB#04

NA

NA

NA

NA

NA

SUBURB#05

NA

NA

NA

NA

NA

SUBURB#06

NA

NA

NA

NA

NA

Over 12-month period (1 Jul 2019 to 30 Jun 2020)

Suburb

Houses

LJ Hooker Nerang

2018

S ER M

MO ST

IED CUS TISF TO SA

R

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.

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