Page 1

Ormeau

This report covers your local suburbs of Jacobs Well, Kingsholme, Ormeau, Ormeau Hills, Pimpama and Yatala.

August

2018

Brought to you by the team at LJ Hooker Ormeau

q (07) 5549 4500 p

f ormeau@ljh.com.au e

x ormeau.ljhooker.com.au w


What’s happening in our local property market Strongest growth

Most traded

Fastest sellers

Ormeau Hills 7.7%

Ormeau 257 sales

Jacobs Well 29 days

Jacobs Well 9.3%

Pimpama 195 sales

Ormeau 41 days

At LJ Hooker Ormeau our goal is to provide you with the information you need to make conident decisions about property - whether you are buying, selling, investing or renting. We have created this report which details local market conditions and how property is performing in your area which at times can be very different to the combined performance of the capital cities. Let us help you stay on top of changes in your local property market every month. Across our local market, we have seen 957 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 1,096 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Ormeau Hills which has seen its median sales price grow by 7.7%. The median sales price of a home in Ormeau Hills is now $522,500. Jacobs Well saw its median house sales price grow by 7.0% with the median price now sitting at $467,000 and Ormeau grew 1.7% across 257 individual sales with a median of $480,000. The most traded suburb for houses in our area has been Ormeau with 257 homes sold over the past 12 months while Pimpama had the most unit sales with 195 transactions. House prices in Ormeau have remained relatively stable with growth of 1.7% and now have a median price of $480,000. Over the past month, about $1,313,000 in units and $6,183,700 in houses has been sold in Ormeau with $21.32m and $138.48m respectively sold over the past 12 months. Jacobs Well has demonstrated the strongest price growth for units with prices rising 9.3% over the past 12 months. The highest median housing rents in our area are $485 per week in Ormeau Hills and for units $390 per week in Ormeau. Housing rental yields in Ormeau Hills are currently 5.0% demonstrating why the area is popular with investors. The time it takes to sell a house in our region ranges from 29 days in Jacobs Well to 74 days in Yatala, and the shortest median time to sell a unit is 41 days in Ormeau.

Top performing local suburbs

Houses

Units

Ormeau Hills

76

$522,500

7.7%

0.8%

Jacobs Well

77

$467,000

7.0%

1.8%

Ormeau

257

$480,000

1.7%

1.1%

Jacobs Well

60

$585,000

9.3%

0.5%

Pimpama

195

$390,000

6.8%

1.1%

Ormeau

57

$375,000

5.6%

1.1%

Number sold (12 months)

Ormeau

Median Price

Median Growth 12 months

Annual Change over 10 years


This month it’s all about Ormeau d One of the most popular suburbs in our region is Ormeau where 343 houses were listed for sale over the past year. Houses in Ormeau have an average land size of 1,174 square metres. d The suburb also has a medium apartment market with 78 units listed for sale over the past year.

d The median value of houses in Ormeau is $503,764. This is higher than the median sales price which is currently $480,000. d Houses are typically selling within 41 days. d Sales prices have stabilised by 1.7% over the past 12 months and vendors are typically discounting by -4.4% to secure a sale.

Houses

Units

257

57

$480,000

$375,000

Annual Change in Median Price

1.7%

5.6%

Median Asking Rent

$440

$390

Indicative Gross Rental Yield

4.9%

5.5%

343

78

41

41

$138.48m

$21.32m

Number Sold Over 12-month period (1 May 2017 to 30 Apr 2018)

d The suburb is tightly held with residents typically holding their house for 7 years.

Suburb snapshot

Median Sale Price

Total Listings Median 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 Ormeau Hills where houses are returning a 5.0% yield, while units in Yatala are returning a 6.4% yield - making it a good place for savvy investors to look for inlation-beating returns. The median price of a house in Ormeau Hills currently is $522,500 and average rents are $485 per week whereas median unit prices are $287,250 in Yatala with rents of $360 per week. This means it could be possible to purchase a cash-positive investment unit. Unit prices in Yatala have dropped substantially by -26.5% over the past year, meaning the suburb is now offering some good buying for smart investors. Ormeau is the second best yielding unit suburb in our area with units that cost around the median price of $375,000 returning 5.5% with median asking rents of $390 per week, while Pimpama also is worth watching with returns of 5.4% based on a median price of $390,000 and rents of $380 per week.

Ormeau

For those interested in investing in houses, also consider Ormeau where prices have grown 1.7% while yields are 4.9% - which could be a cash low positive investment.

Highest yielding suburbs in our area Suburb

Number Sold*

Change Median Sale Median in Median Price* Asking Rent* Price*

Indicative Gross Rental Yield*

Ormeau Hills

76

$522,500

7.7%

$485

5.0%

Ormeau

257

$480,000

1.7%

$440

4.9%

Jacobs Well

77

$467,000

7.0%

$478

4.9%

Yatala

17

$287,250

-26.5%

$360

6.4%

Ormeau

57

$375,000

5.6%

$390

5.5%

Pimpama

195

$390,000

6.8%

$380

5.4%


Thinking about a spring move? It may not feel like it but spring is just around the corner. So if you’re thinking of selling, this coming spring, it’s best to start planning now. An LJ Hooker Market Update will give you the perfect understanding of what’s happening with your property in today’s market.

Know what your property is worth in today’s market. Ask the team at LJ Hooker Ormeau. (07) 5549 4500 ormeau@ljh.com.au ormeau.ljhooker.com.au

Ormeau

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 inancial advice. For our complete terms and conditions of use, go to www.corelogic.com.au

Local Market Report - August 2018  

Brought to you by the team at LJ Hooker Ormeau Your local property report for Ormeau, Ormeau Hills, Pimpama, Jacobs Well & Yatala

Local Market Report - August 2018  

Brought to you by the team at LJ Hooker Ormeau Your local property report for Ormeau, Ormeau Hills, Pimpama, Jacobs Well & Yatala

Advertisement