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Qmm issue 10 lj gilland_re
1. Linda Jane Debello
Licencee / Director
L.J. GILLAND REAL ESTATE Proud to be a REIQ Individual Member
Y O U R S TAT E - W I D E P R O P E R T Y R E S E A R C H G U I D E - S U B U R B B Y S U B U R B
MAR K E T
QUEENSLAND
MONITOR
Issue 10 www.reiq.com.au
Buyer’s
take your pick
www.reiq.com.au
2. QUEENSLAND
MAR K ET
MONITOR
CONTENTS
PAYING
State-wide Summary.................................. page 2
TOO
?
Regional Overview
[Houses, Units & Townhouses, Vacant land, Rents]
MUCH
ONLINE LISTINGS
Brisbane City.......................................... page 4
FOR
Brisbane Surrounds.............................. page 9
Gold Coast City..................................... page 13
Toowoomba Regional........................... page 16
Sunshine Coast Regional...................... page 17 reiq.com is here
Fraser Coast Regional.......................... page 20
Bundaberg Regional.............................. page 21
reiq.com now features a Queensland listing portal offered
Gladstone Regional............................... page 23 exclusively to REIQ accredited agencies*
Rockhampton Regional......................... page 24 at no additional cost to their membership.
Mackay Regional.................................... page 26
Townsville City........................................ page 27 reiq.com is now available for you to upload
your properties for sale and rent.
Cairns Regional...................................... page 29
Other Regional Areas............................ page 31 See page 38 for more information.
Rental Yields................................................... page 35 07 3249 7347 | propertysearch@reiq.com.au
Vacancy Rates............................................... page 35 *Not available to individual members
Explanatory Notes........................................ page 36
Research Methodology............................. page 36
MARCH QUARTER 2011 STATE-WIDE SUMMARY
Median house and unit prices Over the March quarter, the Queensland property market
remained soft with sales numbers down about 14 per cent
The natural disasters earlier this year, coupled with the higher compared to the December quarter last year.
interest rate environment, resulted in a weaker March quarter
for Queensland residential property. The Brisbane median house price decreased 1.9 per cent to
$515,000 over the quarter. Preliminary sales numbers were
The impact of the floods was keenly felt in affected Brisbane down about 15 per cent on the previous quarter.
suburbs over the period with many suburbs not recording
enough preliminary sales for a reliable median house price to The Gold Coast’s median house price remained steady at
be calculated. $490,000 over the quarter and was also one of the few areas
across the state to record a stable number of preliminary sales.
Out of about 50 Brisbane suburbs reportedly flood-affected
earlier this year, only 17 recorded the minimum of 10 Bucking the trend across the State was Gladstone, which has
preliminary sales required for a median house price to be continued its strong run due to the development of liquefied
calculated. QUEENSLAND - PRICEPOINTS natural gas (LNG) in the region. Its median house price
increased 5.1 per cent to $415,000 over the March quarter.
QUEENSLAND HOUSE SALES
The resources sector is also assisting the market in
<$350,000 <$500,000 <$1m $1m+
Rockhampton which also recorded positive median house
price growth – up 3.8 per cent to $325,000 over the period – as
MAR 11 2153 3047 1923 146
well as a steady number of sales.
DEC 10 2524 3491 2143 229
The unit and townhouse market was also not immune from
Queensland’s summer of disasters and patchy economic
conditions.
SEP 10 2815 3597 2309 224
Median unit and townhouse prices eased across much of
Source: REIQ, data provided by PriceFinder South East Queensland during the first three months of 2011.
Please see page 36 for legend and further notes
Issue 10 - March Quarter 2011
QUEENSLAND UNIT SALES page 2 www.reiq.com.au
3. <$250,000 <$350,000 <$500,000 <$1m $1m+
MAR 11 2153 3047 1923 146 MAR 11 491 959 985 434 78
DEC 10 2524 3491 2143 229
DEC 10 606 1053 1072 598 128
SEP 10 2815 3597 2309 224
SEP 10 623 1228 1192 638 121
BRISBANE CITY
MARCH QUARTER 2011 STATE-WIDE SUMMARY
Source: REIQ, data provided by PriceFinder
Source: REIQ, data provided by PriceFinder
QUEENSLAND UNIT SALES QUEENSLAND LAND SALES
<$250,000 <$350,000 <$500,000 <$1m $1m+ <$250,000 <$350,000 <$500,000 <$1m $1m+
32
MAR 11 491 959 985 434 78 MAR 11 663 14046 8
25
DEC 10 606 1053 1072 598 128 DEC 10 1029 13554 5
38
SEP 10 623 1228 1192 638 121 SEP 10 1277 216 82 6
Source: REIQ, data provided by PriceFinder Source: REIQ, data provided by PriceFinder
While a number of regional centres recorded positive growth The median price of vacant land in Gladstone increased 5.5
over the quarter, this was mainlyLAND to the construction of
QUEENSLAND due SALES per cent to $195,000 over the period. A new development in
new unit or townhouse developments, or the<$1m of more
<$250,000 <$350,000 <$500,000 sale $1m+ Calliope attracted 22 preliminary land sales over the period and
expensive existing stock, in these areas over the period.
32 helped push its median price up 12.1 per cent to $185,000.
MAR 11 663 14046 8
Unit and townhouse sales across Queensland are down about
25
15 per cent, impacted by lower numbers of first home buyers Median rents
DEC 10 1029 13554 5
and investors, who are the type of buyers usually the most Queensland’s residential rental market has absorbed the
interested in the more affordable segment of the38market. impacts from this year’s natural disasters however demand is
SEP 10 1277 216 82 6
The prestige market is also struggling with the number of starting to tighten in some areas due to lower buyer activity.
preliminary sales of units and townhouses for more than The REIQ’s March residential rental survey found vacancy rates
Source: REIQ, data provided by PriceFinder
$1 million across Queensland dropping about 40 per cent have continued to tighten over the past six months as more
compared to the December quarter. and more buyers stay on the sidelines.
The median unit and townhouse price in Brisbane eased The rental survey found vacancy rates for the Brisbane City
1.4 per cent to $395,000 over the quarter. On the Gold and local government area tightened in March, coming in at 1.8 per
Sunshine coasts, the median unit price decreased 2.7 per cent cent, down from 2.6 per cent in September last year.
to $355,000 and 2.1 per cent to $350,000 respectively.
The growth of LNG is driving demand for rental property in
Positive median price growth was recorded for the Gladstone which recorded a residential vacancy rate of 1.4 per
Toowoomba, the Fraser Coast, Rockhampton and Townsville cent in March.
local government areas over the March quarter.
Over the period, there was an increase in sales in higher-priced
LOCAL GOVERNMENT AREA Median Change
stock in Toowoomba and the Fraser Coast which pushed up
House Sale over qtr
the median sale price.
SOUTHEAST QUEENSLAND
Rockhampton and Townsville both recorded median price
BRISBANE (SD) $440,000 -2.2%
increases of 4.5 per cent over the period. As Rockhampton’s
BRISBANE CITY (LGA) $515,000 -1.9%
unit market continues to be quite small, this result was due
IPSWICH CITY (LGA) $325,250 4.9%
to higher priced unit sales in Yeppoon, while sales in new
waterfront developments in North Ward and South Townsville LOGAN CITY (LGA) $352,250 -2.2%
have underpinned that region’s result over the quarter. MORETON BAY (LGA) $380,000 -2.6%
REDLAND CITY (LGA) $439,500 -2.8%
Median land prices GOLD COAST CITY (LGA) $490,000 0.0%
SUNSHINE COAST (LGA) $450,500 0.1%
The lack of available land for development continues to MAJOR REGIONAL CENTRES
constrain the market in Brisbane with just 69 preliminary land BUNDABERG (LGA) ~ $280,000 -1.8%
sales recorded over the March quarter. CAIRNS (LGA) $367,000 1.7%
The median price for vacant Brisbane land under 2,400m² FRASER COAST (LGA) $295,000 -1.1%
decreased 17.3 per cent to $275,000 over the quarter, however GLADSTONE (LGA) $415,000 5.1%
this was affected by the varying quality of stock, and the MACKAY (LGA) $396,000 -5.7%
varying number of new land stock, sold over the period. ROCKHAMPTON (LGA) $325,000 3.8%
The median price of vacant land on the Sunshine Coast TOOWOOMBA (LGA) ~ $292,250 -5.0%
increased 20.8 per cent to $290,000 over the March quarter TOWNSVILLE CITY (LGA) $369,000 -2.9%
however this figure was also impacted by the higher number
of new stock, and waterfront stock, sold over the period.
Please see page 36 for legend and further notes
Issue 10 - March Quarter 2011 page 3 www.reiq.com.au
4. QUEENSLAND
MAR K ET
MONITOR
CONTENTS
BRISBANE CITY
Median house and unit prices Median rents
The impact of the Queensland floods was keenly felt in The REIQ March rental survey, as well as statistics released
affected Brisbane suburbs over the March quarter with many by the Residential Tenancies Authority (RTA), showed that in
suburbs not recording enough preliminary sales for a reliable March the Brisbane rental market, while tighter, was not as dire
median house price to be calculated. as many had predicted.
QMM statistics show that out of about 50 Brisbane suburbs The survey found vacancy rates for the Brisbane City local
reportedly flood-affected earlier this year, only 17 recorded government area tightened in March, coming in at 1.8 per
a minimum of 10 preliminary sales to allow a median house cent, down from 2.6 per cent in September last year.
price to be calculated. The biggest drops in preliminary
RTA statistics for the start of this year largely illustrate drops in
sales occurred in Moorooka, Graceville and Kenmore when
bonds lodged in suburbs directly affected by the floods, while
compared to the December quarter last year.
January in general was a quieter month across the Brisbane
Many would-be sellers in these areas have wisely either taken area as many renters chose to stay put following the floods.
their homes off the market – even if they were not flooded – or
The median rent for a three-bedroom house in Brisbane
decided they will ride out any market reaction to properties in
increased $10 per week to $390 between March 2011 and
flood-affected areas.
March last year. The median rent for a two-bedroom unit
Indeed, while some affected Brisbane suburbs did record a increased $10 per week to $375 over the same period.
drop in preliminary sales, a number of others that were partially
flooded continued to record steady sales over the quarter,
which is a testament to the continued desirability of living in MEDIAN SALES DATA
locations such as New Farm and West End. Suburb/ Number of Mar change 12 mths to change change
Locality Sales Mar Qtr over the end of over over
Qtr 2011 2011 qtr Mar 2011 1yr 5yrs
However, about 75 per cent of Brisbane was not affected by
the floods and these areas are continuing to record steady HOUSES
sales and results. BRISBANE (SD) ~ 3,423 $440,000 -2.2% $455,000 3.4% 42.2%
BRISBANE (SD) ^ ~ 245 $550,000 0.0% $580,000 2.7% 32.6%
The Brisbane median house price decreased 1.9 per cent to BRISBANE CITY (LGA) 1,808 $515,000 -1.9% $535,000 4.9% 45.4%
$515,000 over the quarter. Preliminary sales numbers were BRISBANE CITY (LGA) ^ ~ 37 $850,000 -2.9% $1,077,500 16.5% 47.6%
down about 15 per cent on the previous quarter. ACACIA RIDGE ~ 16 $304,500 -4.8% $325,000 -3.7% 38.3%
ALDERLEY 13 $690,000 N/A $649,250 8.2% 61.9%
Steady performers over the quarter included Cannon Hill, up ALGESTER 22 $414,500 -2.5% $416,000 0.5% 41.0%
9.1 per cent to $540,000 as well an increase in the number of ANNERLEY ~ 17 $577,000 -6.8% $595,000 11.2% 52.7%
preliminary sales; Ferny Grove, up 6.9 per cent to $480,000; and ASCOT 9 N/A N/A $1,200,000 8.6% 36.4%
Stafford and Stafford Heights, up 5.3 per cent to $515,000 and ASHGROVE ~ 27 $662,500 -9.9% $690,000 2.8% 52.1%
5.6 per cent to $467,500 respectively. ASPLEY 31 $450,000 -2.7% $465,000 0.4% 36.4%
AUCHENFLOWER 6 N/A N/A $768,500 -0.4% 43.1%
Local agents say there is very little first home buyer or investor BALD HILLS ~ 14 $395,000 -1.1% $390,000 -3.7% 46.5%
activity with sellers still adjusting to the fact that they must BALMORAL 7 N/A N/A $798,000 13.4% 57.2%
meet the market on price to make a sale. Days on market are BANYO ~ 16 $395,000 -8.4% $426,000 4.5% 52.7%
generally between 60 to 90 days. BARDON ~ 19 $583,000 -24.5% $747,500 2.2% 46.9%
BELLBOWRIE 8 N/A N/A $475,000 3.3% 39.7%
The median unit and townhouse price in Brisbane decreased BELMONT 6 N/A N/A $630,000 11.0% 66.9%
1.4 per cent to $395,000 over the quarter. Preliminary sales BOONDALL 9 N/A N/A $420,000 1.2% 33.7%
numbers were down about 15 per cent on the previous BRACKEN RIDGE 43 $400,000 5.1% $415,000 0.1% 36.1%
quarter. BRIDGEMAN DOWNS ~ 12 $627,500 -8.7% $686,000 0.7% 31.9%
BRIGHTON ~ 24 $371,250 -6.3% $398,000 -0.5% 36.5%
Vacant land prices BULIMBA
CALAMVALE ~
9
34
N/A
$459,000
N/A
-6.1%
$915,000
$500,900
8.9%
2.0%
27.1%
42.1%
Just 69 preliminary land sales were recorded for the Brisbane CAMP HILL ~ 41 $574,000 -15.9% $643,000 7.2% 50.9%
City region over the March quarter. CANNON HILL ~ 16 $540,000 9.1% $570,000 9.9% 54.1%
CARINA 21 $520,000 2.0% $515,000 7.5% 47.1%
The median price for land under 2,400m² decreased 17.3 per CARINA HEIGHTS 5 N/A N/A $509,000 -2.1% 43.4%
cent to $275,00 over the quarter, however this was affected by CARINDALE 21 $680,000 0.1% $695,000 2.8% 37.6%
the varying quality of stock, and the varying number of new CARSELDINE ~ 10 $472,500 -7.4% $497,500 -3.4% 35.6%
land stock, sold over the period. CHAPEL HILL ~ 22 $591,500 -14.3% $650,000 3.2% 40.5%
CHELMER 1 N/A N/A $881,000 -1.0% 48.8%
Heathwood, Moggill and Fitzgibbon recorded the most sales of CHERMSIDE 5 N/A N/A $457,500 1.7% 34.6%
vacant land over the period due to new developments in these CHERMSIDE WEST 17 $452,500 -2.7% $475,000 5.6% 48.4%
areas. CLAYFIELD 11 $860,000 -4.4% $935,000 9.7% 46.1%
COOPERS PLAINS 5 N/A N/A $440,000 3.5% 57.1%
COORPAROO 25 $690,000 2.1% $663,000 3.8% 44.4%
Please see page 36 for legend and further notes
Issue 10 - March Quarter 2011 page 4 www.reiq.com.au