Market Report - Ormeau Hills

J ul y-December201 9 Mar k etRepor t

What’s happening in our local property market Strongest growth

Most traded

Fastest sellers

Yatala 11.5%

Ormeau 259 sales

Ormeau 55 days

Ormeau 2.8%

Pimpama 24 sales

Pimpama 140 days

Property prices have eased according to the latest Queensland data from CoreLogic but what does that mean for buyers and sellers in our local area?

At LJ Hooker Ormeau we've noticed that there are two big drivers occurring in the market currently. The first is that despite price softening, economic indicators have increased buyer demand and confidence. This has been created by lower interest rates, tax cuts and a subtle easing in credit policy, together with a stable federal government post election. This means buyers are active and Across our local market, we have seen 1,353 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 637 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Yatala which has seen its median sales price grow by 11.5%. The median sales price of a home in Yatala is now $825,000. Jacobs Well saw its median house sales price grow by 11.3% with the median price now sitting at $550,000 and Pimpama grew 5.6% across 220 individual sales with a median of $491,000.

Ormeau has demonstrated the strongest price growth for units with prices rising 2.8% over the past 12 months.

The highest median housing rents in our area are $510 per week in Jacobs Well and for units $395 per week in Ormeau. Housing rental yields in Ormeau Hills 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 55 days in Ormeau to 97 days in Jacobs Well, and the shortest median time to sell a unit is 140 days in Pimpama.

The most traded suburb for houses in our area has been Ormeau with 259 homes sold over the past 12 months while Pimpama had the most unit sales with 24 transactions. House prices in Ormeau have remained relatively stable with falls of -1.0% and now have a median price of $475,000.

Top performing local suburbs Yatala

10

$825,000

11.5%

2.7%

Jacobs Well

42

$550,000

11.3%

3.8%

Pimpama

220

$491,000

5.6%

1.0%

Ormeau

10

$366,250

2.8%

0.5%

Pimpama

24

$375,000

-6.1%

1.1%

Houses

Units

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

LJ Hooker Ormeau

This month it’s all about Ormeau One of the most popular suburbs in our region is Ormeau where 449 houses were listed for sale over the past year. Houses in Ormeau have an average land size of 1,221 square metres.

Suburb snapshot

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The suburb also has a small apartment market with 8 units listed for sale over the past year.

Number Sold

●

The suburb is tightly held with residents typically holding their house for 8.7 years.

Median Sale Price

●

The median value of houses in Ormeau is $505,039. This is higher than the median sales price which is currently $475,000.

●

Over the past 12 months, buyer interest has eased with 259 houses sold this year compared to 280 sales last year.

●

Houses are typically selling within 55 days.

●

Sales prices have eased by -1.0% over the past 12 months and vendors are typically discounting by -5.1% to secure a sale.

●

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

Over 12-month period (1 Oct 2018 to 30 Sep 2019)

●

Houses

Units

259

10

$475,000

$366,250

Annual Change in Median Price

-1.0%

2.8%

Median Asking Rent

$440

$395

Indicative Gross Rental Yield

5.1%

NA

Total Listings

449

8

Average Days on Market

55

NA

$135.57m

$3,579,500

Total Value of Sales

Our local area expertise – long term growth 10 year growth suburbs in our area

Research shows that most people own a property for an average of seven years before they decide to sell.

The best performing suburb in our area for long term growth is Jacobs Well where houses have observed a compound growth of 3.6% 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 11.3% over the past 12 months.

The median price of houses in Jacobs Well is currently $550,000. The suburb has also performed very strongly over the past three years with a growth of 28.8%.

Suburb Over 12-month period (1 Oct 2018 to 30 Sep 2019)

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.

10yr Compound Growth

Jacobs Well

3.6%

Yatala

2.2%

Ormeau Hills

0.9%

Pimpama

0.9%

Ormeau

0.4%

Houses

Units

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 Jacobs Well could be worth considering for your next property purchase.

LJ Hooker Ormeau

Sold Properties 9 Schablon Close Ormeau Hills QLD 4208 Sale Price: $450,000 Sale Date: 5 Jul 2019 Area: 842m2 Eq. Building Area: 1347.09408m2 Attributes: 3 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites

12 Cardrona Crescent Ormeau Hills QLD 4208 Sale Price: $485,000 Sale Date: 31 Jul 2019 Area: 772m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites

8 Christoffel Close Ormeau Hills QLD 4208 Sale Price: $510,000 Sale Date: 23 Jul 2019 Area: 919m2 Eq. Building Area: 1.99m2 Attributes: 4 Beds, 2 Baths, 4 Car Spaces, 2 Lock Up Garages, 1 Ensuites

17 Dandalup Avenue Ormeau Hills QLD 4208 Sale Price: $545,000 Sale Date: 2 Oct 2019 Area: 497m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 1 Ensuites

3 Schablon Close Ormeau Hills QLD 4208 Sale Price: $605,000 Sale Date: 10 Jul 2019 Area: 1,176m2 Attributes: 5 Beds, 3 Baths, 2 Car Spaces, 2 Lock Up Garages

© Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.

27 Sir Charles Holm Drive Ormeau Hills QLD 4208 Sale Price: $674,000 Sale Date: 8 Aug 2019 Area: 1,020m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces

11 Cardrona Crescent Ormeau Hills QLD 4208 Sale Price: $700,000 Sale Date: 2 Nov 2019 Area: 1,090m2 Eq. Building Area: 240.0m2 Attributes: 4 Beds, 2 Baths, 4 Car Spaces, 2 Lock Up Garages, 1 Ensuites

Š Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.

Disclaimer Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.

Based on or contains data provided by the State of Queensland (Department of Natural Resources Mines and Energy) 2020. In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws: more information at http://www.propertydatacodeofconduct.com.au/ttsvr/n/qvas-195.

Š Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.

A real point of difference Since 2002, LJ Hooker have enjoyed a partnership with the Qantas Frequent Flyer program. Our partnership with Qantas Frequent Flyer means that we can really take you further than you think.

Earn points* if you exclusively list and sell with LJ Hooker or appoint LJ Hooker as your property manager. extend far beyond your front door. how we can help, come inside.

*You must be a Qantas Frequent Flyer member to earn Qantas Points. A joining fee may apply. Membership and the earning and redemption of Qantas Points are subject to the Qantas Frequent Flyer Terms and Conditions which can be found at qantas.com/terms.

Other terms and conditions apply. See ljhooker.com.au/qantas for details. Š LJ Hooker Corporation Limited 2018 - BLSC0392.

* Please visit ljhooker.com.au/qantasconditions for terms and conditions.

S ER M

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2018

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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 Ormeau. the team (07) 5549 4500 ormeau@ljhooker.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