February - July 2020
Market Report
This month it’s all about Upper Coomera One of the most popular suburbs in our region is Upper Coomera where 669 houses were listed for sale over the past year. Houses in Upper Coomera have an average land size of 712 square metres.
●
The suburb also has a large apartment market with 98 units listed for sale over the past year.
●
The suburb is tightly held with residents typically holding their house for 8.8 years.
●
The median value of houses in Upper Coomera is $516,628. This is higher than the median sales price which is currently $490,000.
Suburb snapshot
Houses
Units
524
64
$490,000
$328,250
Annual Change in Median Price
0.6%
-2.2%
Median Asking Rent
$460
$398
Indicative Gross Rental Yield
5.2%
6.9%
Total Listings
669
98
51
61
$272.04m
$21.03m
Number Sold Median Sale Price Over 12-month period (1 Apr 2019 to 31 Mar 2020)
●
●
Over the past 12 months, buyer interest has lifted with 524 houses sold this year compared to 458 sales last year.
●
Houses are typically selling within 51 days.
●
Sales prices have stabilised by 0.6% over the past 12 months and vendors are typically discounting by -5.9% to secure a sale.
Average Days on Market
●
All of this means it is now a good time to buy 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 Coomera where houses are returning a 5.4% yield, while units in Upper Coomera are returning a 6.9% yield - making it a good place for savvy investors to look for inflation-beating returns. The median price of a house in Coomera currently is $500,000 and average rents are $455 per week whereas median unit prices are $328,250 in Upper Coomera with rents of $398 per week. This means it could be possible to purchase a cash-positive investment unit. Unit prices in Upper Coomera have eased -2.2% over the past year, meaning the suburb is now offering some good buying for smart
investors. Oxenford is the second best yielding unit suburb in our area with units that cost around the median price of $306,000 returning 6.6% with median asking rents of $420 per week, while Coomera also is worth watching with returns of 6.6% based on a median price of $285,000 and rents of $380 per week. For those interested in investing in houses, also consider Upper Coomera where prices have grown 0.6% while yields are 5.2% - 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
Coomera
297
$500,000
-7.7%
$455
5.4%
Upper Coomera
524
$490,000
0.6%
$460
5.2%
Pimpama
265
$469,000
-3.3%
$440
5.2%
Upper Coomera
64
$328,250
-2.2%
$398
6.9%
Oxenford
28
$306,000
-2.3%
$420
6.6%
Coomera
85
$285,000
-4.2%
$380
6.6%
Over 12-month period (1 Apr 2019 to 31 Mar 2020)
Suburb
Houses
Units
LJ Hooker Coomera
What’s happening in our local property market Strongest growth
Most traded
Fastest sellers
Oxenford 2.9%
Upper Coomera 524 sales
Oxenford 46 days
Upper Coomera -2.2%
Coomera 85 sales
Pimpama 59 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 2,148 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 1,567 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 2.9%. The median sales price of a home in Oxenford is now $514,000. Upper Coomera saw its median house sales price grow by 0.6% with the median price now sitting at $490,000 and Pimpama eased -3.3% across 265 individual sales with a median of $469,000. The most traded suburb for houses in our area has been Upper Coomera with 524 homes sold over the past 12 months while Coomera had the most unit sales with 85 transactions. House prices in Upper Coomera have remained relatively stable with growth of 0.6% and now have a median price of $490,000.
Over the past month, about $4,186,000 in units and $13.3m in houses has been sold in Upper Coomera with $21.03m and $272.04m respectively sold over the past 12 months. Upper Coomera has demonstrated the the lowest price falls for units with prices falling -2.2% over the past 12 months. The median sales price for units in Upper Coomera is now $328,250 and with a median rent of $398 a week, they offer a rental yield of 6.9%. The highest median housing rents in our area are $473 per week in Oxenford and for units $420 per week in Oxenford. Housing rental yields in Coomera 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 46 days in Oxenford to 68 days in Coomera, and the shortest median time to sell a unit is 59 days in Pimpama.
Top performing local suburbs Oxenford
237
$514,000
2.9%
1.2%
Upper Coomera
524
$490,000
0.6%
1.5%
Pimpama
265
$469,000
-3.3%
0.8%
Upper Coomera
64
$328,250
-2.2%
-0.4%
Oxenford
28
$306,000
-2.3%
0.8%
Coomera
85
$285,000
-4.2%
-1.3%
Houses
Units
Number sold (12 months)
Median Price
Median Growth 12 months
Annual Change over 10 years
LJ Hooker Coomera
LJ Hooker Coomera The Hub 5/90 Days Road, UPPER COOMERA QLD 4209 AUS Ph: +61 (7) 5585 7888 Fax: +61 (7) 5585 7878 Email: tfoster.coomera@ljh.com.au
Sold Properties 28 Billinghurst Crescent Upper Coomera QLD 4209 Sale Price: $425,000 Sale Date: 19 Feb 2020 Area: 460m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
49 Billinghurst Crescent Upper Coomera QLD 4209 Sale Price: $500,000 Sale Date: 19 Feb 2020 Area: 666m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
72 Billinghurst Crescent Upper Coomera QLD 4209 Sale Price: $490,000 Sale Date: 21 May 2020 Area: 601m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages
8 Dine Court Upper Coomera QLD 4209 Sale Price: $555,000 Sale Date: 2 Feb 2020 Area: 612m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages
13 Ferncliffe Street Upper Coomera QLD 4209 Sale Price: $420,000 Sale Date: 7 Feb 2020 Area: 624m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
© Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.
Page 2
LJ Hooker Coomera The Hub 5/90 Days Road, UPPER COOMERA QLD 4209 AUS Ph: +61 (7) 5585 7888 Fax: +61 (7) 5585 7878 Email: tfoster.coomera@ljh.com.au
31 Ferncliffe Street Upper Coomera QLD 4209 Sale Price: $475,500 Sale Date: 4 Feb 2020 Area: 729m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
LOT 2/2 Heather Drive Upper Coomera QLD 4209 Sale Price: $385,000 Sale Date: 15 Feb 2020 Area: 152m2 Approx Attributes: 3 Beds, 2 Baths, 2 Car Spaces, 1 Ensuites
46/24 Jessica Drive Upper Coomera QLD 4209 Sale Price: $302,500 Sale Date: 2 Jun 2020 Area: 92m2 Approx Attributes: 3 Beds, 2 Baths, 1 Car Spaces
15 Kumnick Street Upper Coomera QLD 4209 Sale Price: $358,500 Sale Date: 16 Feb 2020 Area: 143m2 Approx Attributes: 3 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
1/2 Macdonald Avenue Upper Coomera QLD 4209 Sale Price: $425,000 Sale Date: 4 Feb 2020 Area: Attributes: 4 Beds, 2 Baths, 2 Car Spaces
5 Macdonald Avenue Upper Coomera QLD 4209 Sale Price: $430,000 Sale Date: 14 Apr 2020 Area: 681m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
© Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.
Page 3
LJ Hooker Coomera The Hub 5/90 Days Road, UPPER COOMERA QLD 4209 AUS Ph: +61 (7) 5585 7888 Fax: +61 (7) 5585 7878 Email: tfoster.coomera@ljh.com.au
37 Mada Drive Upper Coomera QLD 4209 Sale Price: $475,000 Sale Date: 8 Jun 2020 Area: 631m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
1/2 Merton Drive Upper Coomera QLD 4209 Sale Price: $360,000 Sale Date: 2 Apr 2020 Area: 161m2 Approx Attributes: 3 Beds, 2 Baths, 1 Car Spaces, 1 Lock Up Garages, 1 Ensuites
24 Nicola Way Upper Coomera QLD 4209 Sale Price: $418,000 Sale Date: 9 Feb 2020 Area: 636m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
2/2 Sandhurst Crescent Upper Coomera QLD 4209 Sale Price: $386,000 Sale Date: 12 Mar 2020 Area: 163m2 Attributes: 3 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
13 Springdale Street Upper Coomera QLD 4209 Sale Price: $473,000 Sale Date: 7 Apr 2020 Area: 650m2 Attributes: 4 Beds, 2 Baths, 2 Car Spaces, 2 Lock Up Garages, 1 Ensuites
© Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.
Page 4
LJ Hooker Coomera The Hub 5/90 Days Road, UPPER COOMERA QLD 4209 AUS Ph: +61 (7) 5585 7888 Fax: +61 (7) 5585 7878 Email: tfoster.coomera@ljh.com.au
Summary Summary Sales History Quantity
Lowest Sale
Highest Sale
Median Value
Average
Total Value
HOUSE
14
$358,500
$555,000
$427,500
$444,000
$6,216,000
UNIT
2
$302,500
$360,000
$331,250
$331,250
$662,500
TOTAL
16
$6,878,500
Sales History By Property Attributes Quantity HOUSE UNIT TOTAL
Lowest Sale
Highest Sale
Median Value
Average Value
3 Bed
3
$358,500
$386,000
$385,000
$376,500
4 Bed
11
$418,000
$555,000
$473,000
$462,409
3 Bed
2
$302,500
$360,000
$331,250
$331,250
16
© Copyright 2020 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic), Local, State, and Commonwealth Governments. All rights reserved.
$429,906
Page 5
LJ Hooker Coomera The Hub 5/90 Days Road, UPPER COOMERA QLD 4209 AUS Ph: +61 (7) 5585 7888 Fax: +61 (7) 5585 7878 Email: tfoster.coomera@ljh.com.au
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.
Page 6
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 Coomera. the team (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