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Maroubra Property Watch Q2 2014 Maroubra Regional Map This following Property Watch report analyses the trends and performance of the Maroubra residential market, as highlighted in the adjacent Maroubra Locality Map. Situated approximately 10 kilometers south-east of the Sydney CBD, Maroubra is a seaside community known for its convenience and lifestyle. The area is popular with young families and childless couples and has a number of shopping districts, parklands and public transport options which make the area a highly desirable place to live. Maroubra has a diverse range of property types ranging from compact apartments to full sized family homes which provides opportunities at all ends of the market. This Property Watch report will aim to further highlight the regions characteristics, analyse the market and forecast the future trends of the Maroubra market.

Overview Maroubra House & Unit Sales Cycle House Sales

Unit Sales

House Median

Unit Median

450

$1,400,000

400

$1,200,000

350

250

$800,000

200

$600,000

150 $400,000

100 $200,000

50

2013 JUL

2014 JAN

2013 JAN

2012 JUL

2011 JUL

2012 JAN

2010 JUL

2011 JAN

2009 JUL

2010 JAN

2008 JUL

2009 JAN

2007 JUL

2008 JAN

2006 JUL

2007 JAN

2004 JUL

2005 JAN

2004 JAN

Heading

2005 JUL

$0 2006 JAN

0

Half year period

Median sale price

Number of sales

$1,000,000 300

Units dominate the Maroubra market due to demographics in the region and an influx of new unit developments that have occurred in the region. In the annual period to January 2014 the market recorded 374 sales which is in line with historic levels. Median prices have risen 2.4 per cent over the past 12 months and 1.8 pre cent per annum over the past 10 years which reasonable however new stock has kept pricing competitive particularly at top end of the market. Houses are the strongest dwelling type in Maroubra due to limited availability. Over the past year only 100 sales were recorded. In that same period median prices grew 13.4 per cent. Over a 10 year period to January sales growth has been more stable at 1.4 per cent per annum while median prices have grown a respectable 3.3 per cent per annum. Moving forward steady and stable growth is predicted for all dwelling types.

“MAROUBRA IS EXPERIENCEING STRONG BUYER DEMAND AND A SHORTAGE OF AVAILABLE STOCK” - Veronica Perez, PRDnationwide Maroubra Principal Little Bay PRDnationwide does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRDnationwide will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material. Prepared by PRDnationwide Research © All medians and volumes are calculated by PRDnationwide Research. Use with written permission only. All other responsibilities disclaimed. © 2014


Maroubra Property Watch Q2 2014 Maroubra Unit Price Points 2009 JAN

The Maroubra price point chart indicates the shifts in unit prices across the area over the past five years. Overall there is a trend towards the higher end of the market as affordable stock has been snapped up by savvy investors and first homebuyers. The amenities and lifestyle that Maroubra offers has made the region extremely popular in recent years particularly with high income earners pushing price points higher.

16%

At least $950,000

$750,000 - $849,999

16%

18%

$650,000 - $749,999

7% 12%

12%

13%

$550,000 - $649,999

Overview

Maroubra Median Rents by Dwelling Size $700

$600

$700 $475 $575

$480 $550

$710

$720 $480 $550

$450 $540

$465 $520

$700

$730 $400

$510

$680 $425 $530

$640

$650 $420 $500

$400 $460

$410 $480

$650

$400

$745

$500

$200

$100

$-

0%

10%

20%

30%

23%

16%

19%

27%

17%

27%

16%

18%

30%

Less than $350,000

12%

21%

16%

43%

19%

16%

22%

25%

16%

19%

18%

2014 JAN

14%

14%

10%

17%

13%

10%

16%

8%

12% 7%

14%

40% 50% 60% 70% Portion of Total Sales

80%

90% 100%

Maroubra Rental Analysis

$800

$300

8%

2013 JAN

5%

12%

22%

19%

$450,000 - $549,999

2012 JAN

19%

29%

$350,000 - $449,999

At the $650,000 plus range the market has been bullish since 2009. The price point that has increased the most is the $650,000 to $749,999 range which over the five years has grown a remarkable 20 per cent. The highest end of the market has also reported growth however at a lower rate.

2011 JAN

26%

12%

$850,000 - $949,999

Price Point

The price point that dropped the most in activity is the $350,000 to $449,999 range which dropped a remarkable 41 per cent since 2009 while the $450,000 to $550,000 range recorded a decline of 9 per cent. This is due to small apartments increasing in popularity.

2010 JAN

Heading Jun-09 Dec-09

Jun-10

Dec-10 One Bedroom

Jun-11 Two Bedrooms

Dec-11

Jun-12

Dec-12

Jun-13

Dec-13

Three Bedrooms

BASED ON UNITS & SINGLE FAMILY DWELLINGS (NSW DEPARTMENT OF HOUSING)

The metro Maroubra rental market has recorded reasonable growth recently. At the close of the December 2013 rental period, median unit and house rents had registered average weekly return of $763 per week which represents an increase of 12 per cent over the previous year and a healthy 22 per cent since 2009. Currently average yield sits at 4.41 per cent. Rental growth can be tracked back to strong demand from a high portion of tenants. As at 2011 the suburb consisted of 40 per cent renters which is expected to increase in the future. The strongest performer in the rental market was the two bedroom market which rose was closely followed by one bedrooms which rose 25 per cent per cent. The growth in rental income in smaller dwellings can be attributed to a shift in tenant demographics. Other markets experienced growth of around 20 per cent.

Infrastructure Pipeline Maroubra is already a well established suburb however there is continual investment in infrastructure and new residential dwellings which should see continual growth moving forward. Currently there is approximately $200 million worth of development in the pipeline with the majority of development dedicated to public infrastructure and aged care. Highlights include upgrades to local recreational facility, Heffron Park, which features a planned $19 million South Sydney Rugby League Club. The ageing population is catered for with St Brigid’s Green which is a new $48 million facility with over 100 independent and assisted living apartments. A suitable level of residential development is also occurring the area with new unit and townhouses developments introducing reasonable amounts of new stock.

Des Renford Leisure Centre, Heffron Park

32-36 Doggett Street Newstead QLD 4006 Produced by PRDnationwide National Franchise Services

P: (07) 3229 3344 E: research@prd.com.au

Maroubra Property Watch Q2 2014  
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