Coomera Local Market Report - January 2023

What’s happening in our local property market

Strongest growth Most traded Fastest sellers

Across our area, there were 2,385 listings advertised in the past 12 months compared to the rolling 12 month listings of 2,575 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 2,385 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 2,506 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Upper Coomera which has seen its median sales price grow by 28.3%. The median sales price of a home in Upper Coomera is now $770,000. Pimpama saw its median house sales price grow by 22.3% with the median price now sitting at $660,500 and Oxenford grew 21.7% across 263 individual sales with a median of $795,000.

The most traded suburb for houses in our area has been Pimpama with 636 homes sold over the past 12 months while Coomera had the most unit sales with 151 transactions. House prices in Pimpama have performed strongly with growth of 22.3% and now have a median price of $660,500.

Over the past month, about $3,177,000 in units and $30.43m in houses has been sold in Pimpama with $51.28m and $453.6m respectively sold over the past 12 months.

Coomera has demonstrated the strongest price growth for units with prices rising 33.3% over the past 12 months. The median sales price for units in Coomera is now $490,000 and with a median rent of $500 a week, they offer a rental yield of 5.2%.

The highest median housing rents in our area are $675 per week in Oxenford and for units $555 per week in Upper Coomera. Housing rental yields in Oxenford are currently 4.4% demonstrating why the area is popular with investors.

The time it takes to sell a house in our region ranges from 14 days in Willow Vale to 17 days in Upper Coomera, and the shortest median time to sell a unit is 10 days in Oxenford.

This month it’s all about Upper Coomera

● One of the most popular suburbs in our region is Upper Coomera where 660 houses were listed for sale over the past year. Houses in Upper Coomera have an average land size of 736 square metres.

● The suburb also has a medium apartment market with 91 units listed for sale over the past year.

● The suburb is tightly held with residents typically holding their house for 9.2 years.

● The median value of houses in Upper Coomera is $792,218. This is higher than the median sales price which is currently $770,000.

● Over the past 12 months, buyer interest has eased with 610 houses sold this year compared to 696 sales last year.

● Houses are typically selling within 17 days.

● Sales prices have grown by 28.3% 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 Upper Coomera.

Our local area expertise – investing

For housing investors, the best buying in our area can be found in Oxenford where houses are returning a 4.4% yield, while units in Oxenford are returning a 5.4% 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 $795,000 and average rents are $675 per week whereas median unit prices are $483,500 in Oxenford with rents of $480 per week. This means it could be possible to purchase a cash-positive investment unit.

Unit prices in Oxenford have jumped by 32.6% over the past year, meaning investors who bought a year ago have seen good gains and

Highest yielding suburbs in our area

Over 12-month period (1 Oct 2021 to 30 Sep 2022)

Suburb snapshot Houses Units

Number Sold

Median Sale Price

Annual Change in Median Price

Median Asking Rent

Indicative Gross Rental Yield

Total Listings

Average Days on Market Total Value of Sales

610118 $770,000$520,000 28.3%31.6% $650$555 4.4%5.4% 66091 1718 $523.01m$61.5m

good rental returns.

Upper Coomera is the second best yielding unit suburb in our area with units that cost around the median price of $520,000 returning 5.4% with median asking rents of $555 per week, while Coomera also is worth watching with returns of 5.2% based on a median price of $490,000 and rents of $500 per week.

For those interested in investing in houses, also consider Pimpama where prices have moved strongly by 22.3% while yields are 4.4% - which could be a cash flow positive investment.

Suburb Number Sold Median Sale Price Change in Median Price Median Asking Rent

Indicative Gross Rental Yield

Over 12-month period (1 Oct 2021 to 30 Sep 2022) Oxenford Pimpama Coomera Oxenford Upper Coomera Coomera

Houses Units

263 636 492 60 118 151

$795,000 $660,500 $728,500 $483,500 $520,000 $490,000

21.7% 22.3% 19.4% 32.6% 31.6% 33.3%

$675 $620 $650 $480 $555 $500

4.4% 4.4% 4.4% 5.4% 5.4% 5.2%