Your Local Market Report October 2020 - LJ Hooker Pacific Pines | Helensvale | Hope Island

localmarket rty report prope local Your This report covers your local suburbs of Helensvale, Hope Island, Maudsland, Oxenford and Pacific Pines

October

2020

07 5573 2099 helensvale@ljhgc.com.au helensvale.ljhooker.com.au

LJ Hooker Pacific Pines | Helensvale | Hope

What’s happening in our local property market Strongest growth

Most traded

Fastest sellers

Helensvale 6.2%

Helensvale 332 sales

Pacific Pines 22 days

Hope Island 1.5%

Hope Island 200 sales

Pacific Pines 49 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 2,234 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 1,504 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Helensvale which has seen its median sales price grow by 6.2%. The median sales price of a home in Helensvale is now $665,000. Pacific Pines saw its median house sales price grow by 3.0% with the median price now sitting at $546,500 and Oxenford grew 2.0% across 230 individual sales with a median of $510,000.

The most traded suburb for houses in our area has been Helensvale with 332 homes sold over the past 12 months while Hope Island had the most unit sales with 200 transactions. House prices in Helensvale have performed well with growth of 6.2% and now have a median price of $665,000.

Over the past month, about $1,157,500 in units and $11.18m in houses has been sold in Helensvale with $14.46m and $250.4m respectively sold over the past 12 months.

Hope Island has demonstrated the strongest price growth for units with prices rising 1.5% over the past 12 months. The median sales price for units in Hope Island is now $517,500 and with a median rent of $500 a week, they offer a rental yield of 4.7%.

The highest median housing rents in our area are $750 per week in Hope Island and for units $500 per week in Hope Island. Housing rental yields in Pacific Pines are currently 5.3% demonstrating why the area is popular with investors.

The time it takes to sell a house in our region ranges from 22 days in Pacific Pines to 76 days in Hope Island, and the shortest median time to sell a unit is 49 days in Pacific Pines.

Top performing local suburbs Helensvale

332

$665,000

6.2%

2.9%

Pacific Pines

230

$546,500

3.0%

1.6%

Oxenford

230

$510,000

2.0%

1.0%

Hope Island

200

$517,500

1.5%

0.7%

Pacific Pines

78

$338,000

-0.2%

-1.2%

Oxenford

27

$302,500

-4.7%

0.6%

Houses

Units

Number sold (12 months)

Median Price

Median Growth 12 months

Annual Change over 10 years

LJ Hooker Pacific Pines | Helensvale | Hope Island

This month it’s all about Helensvale One of the most popular suburbs in our region is Helensvale where 501 houses were listed for sale over the past year.

Houses in Helensvale have an average land size of 873 square metres.

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The suburb also has a medium apartment market with 78 units listed for sale over the past year.

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The suburb is tightly held with residents typically holding their house for 11.0 years.

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The median value of houses in Helensvale is $672,865. This is higher than the median sales price which is currently $665,000.

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Over the past 12 months, buyer interest has eased with 332 houses sold this year compared to 335 sales last year.

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Houses are typically selling within 48 days.

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Sales prices have grown by 6.2% over the past 12 months and vendors are typically discounting by -4.2% to secure a sale.

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All of this means it is now a great time to sell in Helensvale.

Suburb snapshot

Houses

Units

332

38

$665,000

$322,500

Annual Change in Median Price

6.2%

-7.1%

Median Asking Rent

$600

$420

Indicative Gross Rental Yield

4.8%

6.4%

Total Listings

501

78

48

68

$250.4m

$14.46m

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

●

Average Days on Market Total Value of Sales

Our local area expertise – investing For housing investors, the best buying in our area can be found in Pacific Pines where houses are returning a 5.3% yield, while units in Pacific Pines are returning a 6.8% yield - making it a good place for savvy investors to look for inflation-beating returns.

The median price of a house in Pacific Pines currently is $546,500 and average rents are $500 per week whereas median unit prices are $338,000 in Pacific Pines with rents of $420 per week. This means it could be possible to purchase a cash-positive investment unit.

Oxenford is the second best yielding unit suburb in our area with units that cost around the median price of $302,500 returning 6.6% with median asking rents of $400 per week, while Helensvale also is worth watching with returns of 6.4% based on a median price of $322,500 and rents of $420 per week.

For those interested in investing in houses, also consider Oxenford where prices have grown 2.0% while yields are 5.1% - which could be a cash flow positive investment.

Unit prices in Pacific Pines have eased -0.2% over the past year, meaning the suburb is now offering some good buying for smart investors.

Highest yielding suburbs in our area Number Sold

Median Sale Price

Change in Median Price

Median Asking Rent

Indicative Gross Rental Yield

Pacific Pines

230

$546,500

3.0%

$500

5.3%

Oxenford

230

$510,000

2.0%

$478

5.1%

Maudsland

115

$566,000

-9.4%

$533

4.8%

Pacific Pines

78

$338,000

-0.2%

$420

6.8%

Oxenford

27

$302,500

-4.7%

$400

6.6%

Helensvale

38

$322,500

-7.1%

$420

6.4%

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

Suburb

Houses

Units

LJ Hooker Pacific Pines | Helensvale | Hope Island

2018

S ER M

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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 Pacific Pines | Helensvale | Hope Island. the team 07 5573 2099 helensvale@ljhgc.com.au LJ Hooker Pacific Pines | Helensvale | Hope Island helensvale.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.

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