1. your state-wide property research guide - suburb by suburb
REIQ
ISSUE 14
REAL ESTATE INSTITUTE
QUEENSLAND
“Property prices MARCH QUARTER 2012 QUARTERLY PRICE MOVEMENTS
have grown in STATE-WIDE SUMMARY LGA HOUSES UNITS LAND
most areas and SOUTHEAST QLD
HOUSE AND UNIT MARKETS
some regions BRISBANE (SD) 0.0% -2.9% 6.8% ~ *
The Queensland property market has turned
BRISBANE CITY 1.2% -3.1% 7.3% ~ *
have also around and posted positive results for the first
time in 18 months. IPSWICH CITY 0.0% -5.6% * t -5.3% *
experienced
LOGAN CITY -1.8% -8.9% * t 4.8% *
The REIQ March quarter Queensland Market
substantial MORETON BAY -2.4% -0.3% 3.4%
Monitor has found house prices across the
increases in majority of Queensland increasing with sales REDLAND CITY -0.9% -14.3% f ~ -29.4% ~
numbers also up – in some cases significantly.
sales activity, GOLD COAST CITY 0.7% -2.4% -13.2% * f
Three months ago when the REIQ analysed the SUNSHINE COAST 0.6% 2.2% ~ 14.6% *
which is a
December quarter data it seemed to indicate
MAJOR REGIONS
hugely welcome the bottom of the market had been reached TOOWOOMBA 0.7% -6.1% ~ -9.0% *
because prices were stabilising.
turnaround” FRASER COAST 7.8% ~ -7.0% * f 0.0%
The REIQ predicted at the time that the March BUNDABERG 3.7% -8.6% * f 0.0%
quarter data would be even more positive and
GLADSTONE -0.6% 5.1% * f t 10.5% *
house prices across the state have duly started
to increase. ROCKHAMPTON 1.6% -1.2% -1.0%
MACKAY 1.2% -12.7% f ~ 7.8% * f
Property prices have grown in most areas
and some regions have also experienced TOWNSVILLE CITY 0.0% -6.4% * f 4.9% *
substantial increases in sales activity, which is CAIRNS 4.5% ~ -1.2% * f 6.7% ~
a hugely welcome turnaround See page 41 for REIQ explanatory notes
Linda-Jane Debello of
And while the March quarter figures contain
plenty of good news, perhaps the best piece The top performer of all major regions across
of news is some very healthy results in the State was Fraser Coast, which posted
Queensland’s tourism centres, which have median house price growth of 7.8 per cent to
struggled more than most over recent years. $290,000 over the March quarter. The numbers
of preliminary house sales were also up an
impressive 42 per cent.
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2. 2
state-wide summary
table of contents QUEENSLAND - PRICEPOINTS
QUEENSLAND - PRICEPOINTS
Queensland market update: QUEENSLAND - PRICEPOINTS
QUEENSLAND HOUSE SALES
State-wide summary (cont’d) 2 QUEENSLAND HOUSE SALES
<$350,000 $350,000+ $500,000+ $1m+
QUEENSLAND HOUSE SALES
<$350,000 $350,000+ $500,000+ $1m+
MAR 12 2967 3207 1979 145
Regional market updates: MAR 12 <$350,000
2967 $350,000+
3207 $500,000+ 1979 $1m+ 145
DEC 11 2760 3071 1748 185
MAR 11
DEC 12 2967
2760 3207
3071 1979 185 145
1748
Brisbane City 5 SEP 11 3093 3453 2042 188
DEC 11
SEP 11 2760
3093 3071
3453 1748 2042185 188
Greater Brisbane 10 JUN 11 2435 3047 1828 187
SEP 11
JUN 11 3093
2435 3047 3453 1828 2042 187 188
MAR 11 2153 3047 1923 146
Gold Coast 16
JUN 11
MAR 11 2435
2153 3047
3047 1828
1923 187
146
Source: REIQ, data provided by PriceFinder
Toowoomba 19 MAR 11 2153 3047 1923 146
Source: REIQ, data provided by PriceFinder
Sunshine Coast 21 QUEENSLAND UNIT SALES
Source: REIQ, data provided by PriceFinder
<$250,000 QUEENSLAND UNIT SALES
$250,000+ $350,000+ $500,000+ $1m+
Fraser Coast 24
<$250,000 QUEENSLAND UNIT SALES
$250,000+ $350,000+ $500,000+ $1m+
MAR 12 598 1123 1057 425 77
Bundaberg 26 <$250,000 $250,000+ $350,000+ 425 $500,000+ $1m+
MAR 12 598 1123 1057 77
DEC 11 588 922 955 417 79
Gladstone 28 MAR 11
DEC 12 598
588 1123
922 9551057 417 425 77
79
SEP 11 579 1182 1118 474 76
Rockhampton 30 DEC 11
SEP 11 588
579 922
1182 9551118 417 474 76
79
JUN 11 553 999 1030 518 92
SEP 11 579 1182 1118 518474 92 76
Mackay 32 JUN 11
MAR 11
553
491
999
959
1030
985 434 78
JUN 11
MAR 11 553
491 999
959 1030 434
985 518 78 92
Townsville 34 Source: REIQ, data provided by PriceFinder
MAR 11 491 959 985 434 78
Source: REIQ, data provided by PriceFinder
Cairns 36
QUEENSLAND
Source: REIQ, data provided by PriceFinder LAND SALES
Other Regional Areas 39 <$250,000 QUEENSLAND LAND SALES
$250,000+ $350,000+ $500,000+ $1m+
<$250,000 20
MAR 12 QUEENSLAND LAND SALES 242 61 7 $1m+
$250,000+
1264
$350,000+ $500,000+
Rental Market Indicators 40 20
<$250,000
MAR 12 $250,000+
1264 $350,000+ $500,000+ 7 $1m+
242 6126
DEC 11 1210 227 70 6
2620
Residential rental yields 40 MAR 11
DEC 12 1264
1210 242 30
227 7061 6 7
SEP 11 1173 237 61 26 11
30
DEC 11
SEP 11 1210 26 227 70 6
Residential vacancy rates 40 JUN 11 977
1173
142 62 4
237 61 11
26 30
1173 32 142
62 237 61 11
SEP 11
JUN 11 977 4
MAR 11 663 140 8
REIQ explanatory notes 41 46
32 26
JUN 11
MAR 11 663 977 140 8 142 62 4
Source: REIQ, data provided by PriceFinder 32
46
MAR 11 663 140
Source: REIQ, data provided by PriceFinder
8
46
Source: REIQ, data provided by PriceFinder
Please see page 41 for legend and further notes March Quarter 2012
3. 3
state-wide summary
The second best performer was Cairns, which recorded
median house price growth of 4.5 per cent to $350,000.
MEDIAN PRICES - Mar QTR 2012
Local agents say the region now represented excellent LGA HOUSES UNITS LAND
value with demand increasing, especially in the upper SOUTHEAST QLD
end of the market.
BRISBANE (SD) $425,000 $365,000 $224,250
Queensland’s unit and townhouse market also BRISBANE CITY $505,000 $387,750 $300,000
experienced strengthening demand over the March IPSWICH CITY $300,000 $220,000 $179,000
quarter. The numbers of preliminary unit and townhouse
LOGAN CITY $335,000 $239,000 $220,000
sales across the State were up 11 per cent compared to
the December quarter last year. MORETON BAY $360,000 $325,900 $210,000
REDLAND CITY $420,000 $307,500 $56,500
Over the period, there was also a dramatic increase in the
number of units sold between $250,000 and $350,000 with GOLD COAST CITY $454,375 $241,500 $240,000
sales in this price bracket increasing 22 per cent. SUNSHINE COAST $430,000 $332,250 $271,500
This increase in more affordable unit and townhouse
MAJOR REGIONS
sales is being driven by demand from first home buyers TOOWOOMBA $288,000 $230,000 $136,000
and investors, who often target properties at the lower FRASER COAST $290,000 $251,000 $130,000
end of the market.
BUNDABERG $280,000 $245,000 $140,000
About 19 per cent of homes financed in Queensland are GLADSTONE $475,000 $358,250 $246,500
now being bought by first home buyers, which is the
ROCKHAMPTON $320,000 $284,000 $143,500
highest level of activity from first-time property buyers
MACKAY $425,000 $310,000 $194,000
since 2009 when the First Home Owners Boost was
available. TOWNSVILLE CITY $360,000 $286,000 $166,750
CAIRNS $350,000 $212,500 $160,000
Investors too are making a long-awaited return to the
market with more than 4,500 properties bought by
investors in March this year. The 10-year average is 5,000
dwellings per month so this is also the strongest level of
activity from investors since early 2010. SALES ACTIVITY - Mar QTR 2012
Over the March quarter, median unit and townhouse LGA HOUSES UNITS LAND
prices softened in a number of areas due to this shift in SOUTHEAST QLD
demand for more affordable properties. Median prices BRISBANE (SD) steady up steady
reflect the types of properties that sell over a particular BRISBANE CITY steady strong strong
timeframe so if more affordable properties sell the
IPSWICH CITY steady down down
median will be dragged lower.
LOGAN CITY up strong up
MORETON BAY steady steady down
VACANT LAND MARKET
REDLAND CITY steady steady up
Sales activity for the vacant land market was up 4 per GOLD COAST CITY up up up
cent over the March quarter for the State as a whole, with
SUNSHINE COAST strong up up
the majority of the increase occurring in the $250,000 to
$350,000 bracket. Top sales increases were most notable
MAJOR REGIONS
in South East Queensland (SEQ), while Rockhampton TOOWOOMBA down down steady
outperformed all major regional areas. FRASER COAST strong down steady
With a number of new land estates coming onto the BUNDABERG up down steady
market, a number of areas recorded strong increases in GLADSTONE steady strong steady
their quarterly medians. Local agents state-wide however, ROCKHAMPTON strong strong up
are reporting a restraint on supply levels as some
MACKAY steady steady down
developers continue to have difficulty securing finance.
TOWNSVILLE CITY up down up
CAIRNS steady down steady
steady +/- 5% up/down 5-20% strong >20%
Please see page 41 for legend and further notes March Quarter 2012
4. 4
state-wide summary
RENTAL MARKET MEDIAN WEEKLY RENTS - Mar QTR 2012
Demand for rental properties continues to strengthen LGA 3 BED HOUSE 2 BED FLAT 3 BED T’HSE
with vacancy rates tightening across the State. SOUTHEAST QLD
The REIQ March residential vacancy rates show the BRISBANE CITY $400 - $390 u $405 -
majority of regions experiencing strong demand from IPSWICH CITY $285 - $235 - $295 -
tenants, with vacancy rates in many areas now below 3 LOGAN CITY $325 - $255 - $325 -
per cent.
MORETON BAY $320 - $265 - $320 -
A vacancy rate of 3 per cent is generally considered to be REDLAND CITY $365 - $310 u $365 -
the equilibrium point of supply and demand.
GOLD COAST CITY $400 - $350 - $360 -
With a slow sales market, many potential first home SUNSHINE COAST $365 - $300 - $350 -
buyers and investors are still sitting on the sideline, which
MAJOR REGIONS
has contributed to the lower vacancy rates.
TOOWOOMBA $280 - $220 - $300 u
The latest Australian Bureau of Statistics (ABS) data
FRASER COAST $260 - $215 u $300 -
however is showing an increasing number of investors
and first-timers coming back into the market, which BUNDABERG $270 - $210 - $270 d
should help ease this pent-up demand and keep rental GLADSTONE $480 u* $360 u* $560 u*
price growth steady. ROCKHAMPTON $330 u* $250 u $340 u*
The resource centres continue to experience extreme MACKAY $460 u* $350 u* $470 u*
conditions, with vacancy levels of 2 per cent or below. TOWNSVILLE CITY $350 - $300 - $360 -
Median rents in these areas, as reported by the CAIRNS $320 - $250 - $300 -
Residential Tenancies Authority (RTA), are on the rise as
a result. (-) steady (u) up (d) down * change greater than $20
Meanwhile in SEQ, subdued rents along with first home
buyers still playing the waiting game has contributed to
increased demand for rental properties. Investors are also
still only beginning to come out of the woodwork, which
has meant rental supply levels remain low.
VACANCY RATES - March 2012 GROSS RENTAL YIELDS - Mar QTR 2012
LGA 31-Mar-12 TREND LGA HOUSES UNITS
SOUTHEAST QLD SOUTHEAST QLD
BRISBANE CITY 1.7% d* BRISBANE CITY 4.1% - 5.2% u
IPSWICH CITY 2.8% - IPSWICH CITY 4.9% - 5.6% -
LOGAN CITY 2.3% - LOGAN CITY 5.0% - 5.5% u
MORETON BAY 3.0% u MORETON BAY 4.6% - 4.2% -
REDLAND CITY 2.2% d REDLAND CITY 4.5% - 5.2% -
GOLD COAST CITY 3.9% d GOLD COAST CITY 4.6% - 7.5% u*
SUNSHINE COAST 3.1% - SUNSHINE COAST 4.4% - 4.7% -
MAJOR REGIONS
MAJOR REGIONS
TOOWOOMBA 1.9% - TOOWOOMBA 5.1% - 5.1% u
FRASER COAST 3.8% - FRASER COAST 4.7% d 4.5% u
BUNDABERG 3.3% d BUNDABERG 5.0% - 4.5% -
GLADSTONE 1.4% - GLADSTONE 5.3% u 5.2% -
ROCKHAMPTON 1.0% u* ROCKHAMPTON 5.4% - 4.6% -
MACKAY 1.7% - MACKAY 5.6% - 5.9% u*
TOWNSVILLE CITY 2.0% d TOWNSVILLE CITY 5.1% - 5.5% u*
CAIRNS 2.5% d CAIRNS 4.8% - 6.1% -
(-) steady (u) up (d) down * change greater than 0.5pts (-) steady (u) up (d) down * change greater than 0.5pts
Please see page 41 for legend and further notes March Quarter 2012
5. 5
BRISBANE CITY
HOUSE AND UNIT MARKETS
BRISBANE CITY HOUSE SALES
The median house price in Brisbane increased 1.2 per
<$350,000 $350,000+ $500,000+ $1m+
cent to $505,000 over the March quarter.
MAR 12 148 773 931 58 MAR
A number of Brisbane’s middle ring suburbs performed
well over the March quarter. Holland Park’s median house DEC 11 185 788 858 111 DEC
price increased 9.3 per cent to $499,000 as buyers started SEP 11 196 882 1013 96 SEP
to once again consider upgrading their homes.
JUN 11 165 738 949 91 JUN
Holland Park is located approximately 8km from the
MAR 11 118 697 910 83 MAR
Brisbane CBD, and is neighboured by Holland Park West,
Mount Gravatt, Mount Gravatt East and Camp Hill.
A popular family area, Holland Park's many local facilities
and easy access to the city and surrounding areas has BRISBANE SURROUNDS' HOUSE SALES
ensured demand remains strong. Residents are serviced <$350,000
BRISBANE CITY UNIT$500,000+
$350,000+
SALES $1m+
by a variety of services and in surrounding suburbs. <$250,000
MAR 12 843 $250,000+ 677$350,000+ $500,000+
218 4 $1m+ MAR
Griffith University, shopping centres, schools and the MAR 11
DEC 12 754 709 185 187
7 DEC
42 355 570 26 MAR
Southeast Busway along the Southeast Freeway have
helped to add value to the area in recent years. DEC 11
SEP 11 891 239
35 477 788 201 21246 12 SEP
DEC
JUN 11
SEP 11 686
49 331 761
614 237 230
7 24 JUN
SEP
The neighbouring suburb of Mount Gravatt East
experienced increased demand over the period, with a MAR 11
JUN 11 586
48 268 779
512 244 6 33
201 MAR
JUN
significant jump in sales compared to the December INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL 174
MAR 11 37 220 478 13 MAR
quarter. The suburb, with a median of $499,999, is a more
affordable option for many buyers than Holland Park but
GOLD COAST HOUSE SALES
largely provides the same amenities, types of properties
and attractive undulating location. <$350,000 $350,000+ $500,000+ $1m+
BRISBANE SURROUNDS' UNIT SALES
Brisbane’s median unit and townhouse price softened 3.1 MAR 12<$250,000BRISBANE CITY LAND 268 $500,000+
94 $250,000+
394 $350,000+ SALES 52 $1m+ MAR
per cent to $387,750, however sales activity was up more <$250,000 $250,000+ $350,000+ $500,000+
MAR 12
DEC 11 116
77 329 155 226 5163 14 0 MAR
DEC
than 20 per cent compared to the previous quarter. MAR 12 49 82 40 8 MAR
DEC 11
SEP 11 78
76 130399 75 264 16 0
53 DEC
SEP
The inner-city suburb of West End recorded positive unit DEC 11 31 66 20 9 DEC
SEP 11 101 346159 54 19 2 SEP
price growth over the quarter with its median price up 6.7 JUN 11
SEP 11
68
52 51
243
22 12
56 JUN
SEP
per cent to $587,000. JUN 11 81 155 61 23 JUN
MAR 11
JUN 11 25
28 371
32 25 8 350 36 MAR
JUN
Another solid performer was also in the inner-city with MAR 11 71 143 58 14 3 MAR
MAR 11 21 28 8 6 MAR
Spring Hill’s median unit price increasing 6.4 per cent to INCLUDES REDLAND, LOGAN, IPSWICH & MORETON BAY REGIONAL
$372,500.
SUNSHINE COAST HOUSE SALES
GOLD COAST UNIT SALES
VACANT LAND MARKET BRISBANE$250,000+ $350,000+ $500,000+ $1m+
<$250,000
<$350,000 SURROUNDS' LAND SALES
$350,000+ $500,000+ $1m+
RENTAL MARKET
<$250,000 $250,000+ $350,000+ $500,000+
Over the quarter, the Brisbane vacant land market MAR 12 108
MAR 12 136 288 326 238 165 131 24 36 MAR
MAR
MAR 12 304 72 8 2 MAR
recorded a significant increase in sales activity, with a In Brisbane, the vacancy rate has reduced to 1.7 per cent,
DEC 11 81
345 242 258
DEC 11 105 188 132 11925 45
DEC 11 DEC
DEC
number of land releases in some of the city’s outer-lying from 2.3 per cent in December last year. Brisbane’s inner-
56 14 3 DEC
suburbs. city SEP 11 98 a vacancy 325 of 1.4 23149168 6 down from
recorded
SEP 11 140
SEP 11 278 349 rate per cent, 146
14 22 34 SEP
SEP
SEP
1.9 per cent in December.
The highest increases in activity were recorded in the JUN 11
JUN 11
JUN 11 313
61
131 312259 167
270 40 18 174
24 4 38 JUN
JUN
suburbs of Wakerley, Fitzgibbon and Upper Kedron. Some Across11 216the capital city, the majority of agents report
MAR 82 47
267 9 5 20 134
vacant listings 307 269one to two154
MAR 11 55
MAR 11 33 MAR
MAR
upper-end sales in Bulimba, Bridgeman Downs and taking weeks to let, with
Doolandella also contributed to the overall increase in between twoLOGAN,five applicants per listing.
Includes REDLAND,
to IPSWICH & MORETON BAY REGIONAL
Brisbane’s median over the quarter. Agents from REIQ accredited agencies in inner Brisbane
GOLD COAST LAND SALES
The most prevalent trend for the Brisbane land market is report supply levels remaining limited asSALES stay put,
SUNSHINE COAST UNIT tenants
<$250,000 $250,000+ $350,000+ $500,000+
$500,000+$1m+
that sales volumes have more than doubled compared to students are settled $250,000+ and potential first home
<$250,000 for the year, $350,000+
the March quarter last year, and are back to levels seen buyers 12 60 for131wait-and-see 25
MAR still 70
MAR 12
opt a approach. 6211
85 13 11 MAR
MA
prior to the floods. For middle 47 outer Brisbane suburbs, stable rents have
DEC 11 to
39 44 12 15 DEC
DEC 11 119 78 42 10 DE
ensured vacancies are re-let relatively quickly while also
SEP 11 42 62 15 10 SEP
encouraging current tenants to stay put.
SEP 11 55 131 102 52 11 SE
JUN 11 43 18 11 7 JUN
Investor activity 114
JUN 11 41 across Brisbane remains63
96 subdued, with
14 JU
some inner17 agents reporting a decline in investor
MAR 11 city 20 3 15 MAR
MAR 11 62 118 97 64 22 MA
interest.
Please see page 41 for legend and further notes March Quarter 2012
7. 7
BRISBANE CITY
MEDIAN SALES DATA MEDIAN SALES DATA
Suburb/ Number of Mar change 12 mths to change change Suburb/ Number of Mar change 12 mths to change change
Locality Sales Mar Qtr over the end of over over Locality Sales Mar Qtr over the end of over over
Qtr 2012 2012 qtr Mar 2012 1yr 5yrs Qtr 2012 2012 qtr Mar 2012 1yr 5yrs
HOUSES continued UNITS & TOWNHOUSES continued
ROBERTSON 7 N/A N/A $640,000 -5.9% 12.7% BULIMBA 16 $537,500 N/A $525,000 -4.5% 22.8%
ROCKLEA ~ 6 N/A N/A $270,000 -23.4% -1.8% CALAMVALE 9 N/A N/A $370,000 3.5% 21.3%
RUNCORN 17 $410,000 -0.4% $422,500 -1.7% 34.1% CAMP HILL 10 $382,500 N/A N/A N/A N/A
SALISBURY 13 $430,000 N/A $415,000 -7.8% 23.1% CARINA * 23 $459,000 10.6% $420,000 -2.3% 15.1%
SANDGATE 7 N/A N/A $523,250 -0.8% 36.8% CARINA HEIGHTS * t 20 $451,000 N/A $442,500 7.1% 22.6%
SEVEN HILLS 6 N/A N/A $592,000 1.2% 27.1% CARINDALE * t 9 N/A N/A $429,500 -16.9% 24.1%
SEVENTEEN MILE ROCKS 8 N/A N/A $600,000 4.3% 23.7% CARSELDINE * t 4 N/A N/A $387,500 N/A 44.6%
SHERWOOD 8 N/A N/A $710,000 -1.1% 29.1% CHERMSIDE * 26 $347,500 -12.0% $408,500 -5.3% 18.9%
SINNAMON PARK ~ 17 $607,000 13.7% $580,000 -7.2% 27.5% CLAYFIELD * t 36 $368,500 0.6% $367,000 2.8% 33.5%
ST LUCIA ~ 3 N/A N/A $943,000 -13.9% 30.5% COORPAROO 33 $358,000 -4.8% $362,000 -3.5% 29.3%
STAFFORD ~ 22 $435,000 N/A $435,000 -12.0% 24.3% DOOLANDELLA * t 4 N/A N/A $346,000 2.5% N/A
STAFFORD HEIGHTS 13 $425,000 -1.2% $432,000 -7.4% 17.1% EAST BRISBANE 6 N/A N/A $416,000 -8.1% 37.5%
STRETTON ~ 7 N/A N/A $675,000 9.1% 45.6% EIGHT MILE PLAINS 9 N/A N/A $357,000 -8.0% 36.3%
SUNNYBANK 20 $503,500 7.4% $500,000 -6.6% 27.2% ENOGGERA * t 6 N/A N/A $400,000 0.4% 21.2%
SUNNYBANK HILLS ~ 19 $418,000 -13.8% $480,000 -1.0% 30.4% EVERTON PARK ~ * 13 $440,000 19.2% $367,000 -10.5% 28.1%
TAIGUM 4 N/A N/A $403,750 -9.1% 14.4% FITZGIBBON * t 7 $387,500 N/A $358,200 N/A N/A
TARINGA ~ 8 N/A N/A $670,000 -10.1% 9.8% FORTITUDE VALLEY 27 $405,000 -3.6% $399,000 0.3% 17.4%
TARRAGINDI 22 $519,838 0.0% $545,000 -5.4% 30.4% GAYTHORNE * 7 N/A N/A $405,250 12.6% 39.1%
THE GAP 40 $511,250 -3.6% $535,500 -2.9% 28.3% GORDON PARK * 6 N/A N/A $385,000 8.5% 33.6%
TINGALPA 25 $410,000 -3.0% $416,000 -3.3% 19.9% GREENSLOPES 15 $320,000 N/A $339,000 -7.8% 30.4%
TOOWONG 9 N/A N/A $660,000 -4.5% 27.5% HAMILTON * f 10 $405,000 -2.4% $428,750 -12.5% 9.9%
UPPER KEDRON 4 N/A N/A $532,250 -1.4% 23.8% HAWTHORNE 7 N/A N/A $441,000 3.7% 27.5%
UPPER MOUNT GRAVATT 18 $449,750 -4.6% $475,000 0.7% 40.1% HIGHGATE HILL ~ 6 N/A N/A $420,000 -9.7% 8.8%
VIRGINIA 4 N/A N/A $449,500 3.0% 36.2% HOLLAND PARK WEST 5 N/A N/A $385,000 6.6% 32.8%
WAKERLEY 26 $622,500 8.3% $625,500 1.7% 42.3% INDOOROOPILLY ~ 14 $410,000 -15.8% $450,000 -0.7% 28.6%
WAVELL HEIGHTS 26 $500,000 4.7% $513,500 -6.0% 35.3% KANGAROO POINT ~ f 29 $393,500 -26.4% $435,000 -15.9% 3.6%
WEST END ~ 9 N/A N/A $703,000 -11.3% 27.8% KEDRON 8 N/A N/A $358,750 3.4% 35.4%
WESTLAKE 9 N/A N/A $604,000 -4.1% 29.5% KELVIN GROVE * 17 $400,000 -17.9% $455,000 9.6% 30.0%
WILSTON ~ 7 N/A N/A $718,250 -16.1% 18.1% MANLY WEST * t 11 $430,000 N/A $370,000 N/A 39.6%
WINDSOR ~ 10 $614,500 14.1% $615,000 -10.2% 30.2% MOOROOKA * t 14 $357,000 N/A $385,000 -8.3% 52.5%
WISHART ~ 20 $509,500 -11.1% $548,000 4.7% 38.7% MORNINGSIDE 25 $415,000 -3.5% $429,000 -6.1% 20.8%
WOOLLOONGABBA ~ 7 N/A N/A $563,500 -15.8% 18.6% MOUNT GRAVATT EAST 13 $385,000 N/A $400,000 4.8% 37.9%
WOOLOOWIN ~ 8 N/A N/A $666,000 -11.1% 26.3% NEW FARM 28 $477,500 6.1% $499,000 -5.8% 27.9%
WYNNUM 28 $450,000 7.1% $475,000 -8.7% 20.3% NEWMARKET * 6 N/A N/A $370,000 N/A 13.8%
WYNNUM WEST ~ 26 $408,500 11.9% $410,000 -6.7% 19.9% NEWSTEAD ~ * f 18 $475,750 -10.0% $530,000 2.1% 17.9%
YERONGA ~ 6 N/A N/A $560,000 -16.8% 8.7% NORTHGATE 9 N/A N/A $382,500 7.7% 42.2%
ZILLMERE 6 N/A N/A $366,000 -4.9% 26.4% NUNDAH ~ * 31 $339,000 -7.1% $350,000 -8.4% 14.8%
PADDINGTON 15 $441,000 3.8% $448,000 1.8% 29.9%
UNITS & TOWNHOUSES RED HILL 6 N/A N/A $437,250 N/A 36.0%
BRISBANE CITY (LGA) 1,180 $387,750 -3.1% $395,000 -3.7% 20.4% RICHLANDS * t 15 $335,000 -4.6% $336,450 -3.7% N/A
ALDERLEY 7 N/A N/A $382,000 -4.5% 7.6% RUNCORN 9 N/A N/A $310,000 -6.1% 34.2%
ANNERLEY * t 23 $405,000 -5.3% $392,000 3.3% 44.1% SALISBURY * t 1 N/A N/A $389,000 N/A 20.6%
ASCOT 15 $376,000 N/A $397,750 -2.9% 31.3% SHERWOOD * 13 $419,000 N/A $419,000 2.4% 40.6%
ASHGROVE * t 10 $355,000 -12.3% $402,500 0.6% 15.5% SOUTH BRISBANE ~ 15 $428,000 -9.4% $462,500 4.6% 20.1%
ASPLEY ~ 7 N/A N/A $335,000 -8.8% 16.4% SPRING HILL 32 $372,500 6.4% $379,500 -3.4% 27.7%
AUCHENFLOWER ~ 19 $360,000 N/A $390,000 -10.3% 20.0% ST LUCIA ~ * 19 $440,000 10.1% $485,000 10.5% 33.8%
BALMORAL 5 N/A N/A $462,000 N/A 27.2% STAFFORD * t 17 $389,080 8.8% $389,080 -2.2% 46.8%
BOWEN HILLS * 9 $410,000 -0.5% $405,000 -3.6% 11.0% SUNNYBANK * t 3 N/A N/A $385,000 N/A 39.5%
BRISBANE CITY * 82 $388,000 -12.8% $442,750 -5.6% 2.3% SUNNYBANK HILLS t 6 N/A N/A $357,500 -3.4% 45.9%
Please see page 41 for legend and further notes March Quarter 2012
8. 8
BRISBANE CITY
MEDIAN SALES DATA MEDIAN WEEKLY RENTS
Suburb/ Number of Mar change 12 mths to change change Example Mar Qtr 2012 Mar Qtr 2011
Postcode
Locality Sales Mar Qtr over the end of over over Suburb Rent New Rent New
Qtr 2012 2012 qtr Mar 2012 1yr 5yrs ($) Bonds ($) Bonds
UNITS & TOWNHOUSES continued 3 BEDROOM HOUSES continued
TAIGUM t 9 N/A N/A $312,500 -11.1% 22.1% 4010 ALBION $420 8 $430 10
TARINGA * 48 $491,000 25.9% $475,000 15.9% 50.7% 4011 CLAYFIELD $520 45 $460 58
TENERIFFE ~ f 20 $535,000 5.9% $515,000 -9.6% N/A 4012 NUNDAH $395 70 $380 58
THE GAP * t 3 N/A N/A $460,000 0.0% 55.9% 4030 LUTWYCHE $450 70 $430 57
TOOWONG 21 $403,000 -6.7% $420,000 0.5% 23.7% 4031 GORDON PARK $405 46 $420 61
UPPER MOUNT GRAVATT 6 N/A N/A $415,000 6.1% 17.2% 4051 ALDERLEY $450 98 $400 105
WAKERLEY ~ 6 N/A N/A $400,000 -9.1% 19.4% NORTH - OUTER $375 398 $365 400
WEST END * f 26 $587,000 6.7% $560,000 5.7% 27.6% 4013 NORTHGATE $395 19 $380 16
WINDSOR ~ 7 N/A N/A $349,000 -9.4% 28.7% 4014 VIRGINIA $375 45 $375 34
WOOLLOONGABBA * 11 $480,000 N/A $470,000 11.9% 44.5% 4017 BRACKEN RIDGE $370 114 $360 123
WYNNUM 6 N/A N/A $372,500 -2.0% 20.2% 4018 FITZGIBBON $380 22 $365 22
YEERONGPILLY g 10 $393,750 N/A $401,000 N/A 18.3% 4032 CHERMSIDE $375 53 $375 61
YERONGA 6 N/A N/A $399,000 -4.8% 12.4% 4034 ASPLEY $380 126 $360 117
ZILLMERE 4 N/A N/A $373,500 1.1% 44.3% 4036 HILLS
BALD $360 19 $340 27
NORTH WEST - INNER $490 147 $470 168
VACANT URBAN LAND 4059 KELVIN GROVE $505 64 $480 83
BRISBANE CITY (LGA) * ~ 179 $300,000 7.3% $278,000 -7.3% 16.3% 4060 ASHGROVE $450 44 $435 49
BRISBANE CITY (LGA) ^ ~ 13 N/A N/A $655,000 -6.4% -18.6% 4065 BARDON $480 39 $530 36
BRIDGEMAN DOWNS * 8 $347,500 8.0% $336,500 N/A 16.6% NORTH WEST - OUTER $395 276 $390 265
BULIMBA * 5 $485,000 N/A N/A N/A N/A 4053 STAFFORD $395 158 $390 169
DOOLANDELLA ~ * 11 $224,500 12.3% $230,000 -2.1% 39.4% 4054 ARANA HILLS $380 75 $380 51
DREWVALE * 6 $252,500 0.2% $256,000 N/A 38.4% 4061 GAP
THE $430 43 $400 45
DURACK * 6 $232,250 1.0% $229,000 8.0% N/A SOUTH - INNER $400 415 $390 449
FITZGIBBON ~ * G 21 $192,000 -12.6% $186,950 -16.3% 9.5% 4103 ANNERLEY $440 64 $420 51
MOGGILL * 7 $242,000 N/A $255,000 -2.9% 34.2% 4104 YERONGA $450 23 $440 26
RIVERHILLS * 2 N/A N/A $262,000 N/A N/A 4105 MOOROOKA $380 62 $390 62
UPPER KEDRON 7 $305,000 N/A N/A N/A N/A 4120 GREENSLOPES $440 31 $445 43
WAKERLEY * 16 $318,000 6.0% $317,000 -6.8% 22.4% 4121 HOLLAND PARK $420 100 $395 101
4122 MANSFIELD $380 135 $375 162
MEDIAN WEEKLY RENTS SOUTH - OUTER $365 302 $360 322
Example Mar Qtr 2012 Mar Qtr 2011
Postcode
4106 ROCKLEA $340 12 $335 8
Suburb Rent New Rent New
($) Bonds ($) Bonds 4107 SALISBURY $350 26 $355 34
4108 COOPERS PLAINS $380 21 $360 26
3 BEDROOM HOUSES
BRISBANE CITY $400 3395 $390 3396 4109 MACGREGOR $380 111 $360 107
BAYSIDE $390 149 $380 146 4110 ACACIA RIDGE $340 45 $335 44
4178 WYNNUM $390 92 $375 97 4113 EIGHT MILE PLAINS $365 49 $360 64
4179 MANLY $380 57 $380 49 4115 ALGESTER $380 21 $365 13
CITY INNER $505 372 $480 358 4116 CALAMVALE $410 15 $385 20
4000 BRISBANE CITY $520 26 $510 26 SOUTH EAST - INNER $440 364 $420 332
4005 FARM
NEW $600 20 $540 23 4151 COORPAROO $475 55 $440 37
4006 BOWEN HILLS $520 15 $500 19 4152 CAMP HILL $420 136 $395 113
4064 PADDINGTON $515 98 $495 73 4170 CANNON HILL $440 103 $425 99
4066 TOOWONG $480 63 $460 73 4171 BALMORAL $470 54 $475 62
4067 LUCIA
ST $450 39 $480 43 4172 MURARRIE $400 16 $375 21
4101 WEST END $540 36 $495 32 SOUTH EAST - OUTER $390 44 $395 50
4102 WOOLOONGABBA $500 33 $470 32 4154 GUMDALE $450 7 $460 10
4169 BRISBANE
EAST $475 42 $500 37 4173 TINGALPA $385 28 $390 29
NORTH - INNER $430 363 $420 375 4174 HEMANT $385 5 n.a. 4
4007 ASCOT $480 23 $560 23
Please see page 41 for legend and further notes March Quarter 2012
9. 9
BRISBANE CITY
MEDIAN WEEKLY RENTS MEDIAN WEEKLY RENTS
Example Mar Qtr 2012 Mar Qtr 2011 Example Mar Qtr 2012 Mar Qtr 2011
Postcode
Postcode
Suburb Rent New Rent New Suburb Rent New Rent New
($) Bonds ($) Bonds ($) Bonds ($) Bonds
3 BEDROOM HOUSES continued 2 BEDROOM UNITS continued
SOUTH WEST - INNER $430 174 $420 138 4103 ANNERLEY $340 136 $330 116
4068 CHELMER $475 89 $450 72 4104 YERONGA $350 30 $330 42
4075 CORINDA $390 85 $380 66 4105 MOOROOKA $345 69 $340 72
SOUTH WEST - OUTER $350 391 $350 393 4120 GREENSLOPES $340 96 $330 92
4069 BROOKFIELD $440 44 $440 65 4121 HOLLAND PARK $340 44 $340 38
4070 ANSTEAD $365 13 $340 12 4122 MANSFIELD $385 88 $370 105
4073 SEVENTEEN MILE ROCKS $395 19 $380 14 SOUTH - OUTER $325 60 $335 65
4074 JINDALEE $380 80 $370 70 4106 ROCKLEA $307 6 n.a. 4
4076 DARRA $320 37 $300 34 4107 SALISBURY $292 12 n.a. 4
4077 DOOLANDELLA $305 71 $300 81 4108 COOPERS PLAINS $300 6 n.a. 1
4078 FOREST LAKE $345 127 $345 117 4109 MACGREGOR $390 28 $385 41
4115 ALGESTER $285 5 $295 11
2 BEDROOM UNITS SOUTH EAST - INNER $360 473 $350 409
BRISBANE CITY $390 5095 $375 5090 4151 COORPAROO $350 171 $340 173
BAYSIDE $320 45 $300 57 4152 CAMP HILL $360 64 $360 42
4178 WYNNUM $320 27 $300 43 4170 CANNON HILL $375 119 $350 89
4179 MANLY $300 18 $300 14 4171 BALMORAL $410 118 $370 105
CITY INNER $455 2133 $450 2175 SOUTH EAST - OUTER $360 11 $325 9
4000 BRISBANE CITY $580 300 $540 390 4173 TINGALPA $360 11 $325 8
4005 NEW FARM $475 308 $475 270 SOUTH WEST - INNER $375 394 $360 445
4006 BOWEN HILLS $480 272 $460 249 4068 CHELMER $380 342 $360 401
4064 PADDINGTON $380 75 $375 80 4075 CORINDA $320 52 $320 44
4066 TOOWONG $390 327 $390 345 SOUTH WEST - OUTER $320 19 $320 15
4067 LUCIA
ST $400 260 $400 268 4078 FOREST LAKE $340 8 $335 13
4101 WEST END $500 311 $500 313
4102 WOOLOONGABBA $480 64 $400 55 3 BEDROOM TOWNHOUSES
BRISBANE CITY $405 1741 $399 1675
4169 EAST BRISBANE $420 216 $420 204
BAYSIDE $385 88 $375 75
NORTH - INNER $355 914 $340 879
4178 WYNNUM $380 46 $370 43
4007 ASCOT $420 183 $360 119
4179 MANLY $400 42 $395 32
4010 ALBION $360 26 $350 17
CITY INNER $575 110 $565 88
4011 CLAYFIELD $350 163 $330 164
4000 BRISBANE CITY $590 5 $750 6
4012 NUNDAH $360 195 $345 210
4006 BOWEN HILLS $625 8 $535 9
4030 LUTWYCHE $330 128 $320 118
4064 PADDINGTON $590 19 $630 14
4031 GORDON PARK $325 66 $320 97
4066 TOOWONG $500 24 $510 21
4051 ALDERLEY $350 153 $340 154
4067 LUCIA
ST $575 35 $560 14
NORTH - OUTER $345 282 $330 316
4101 WEST END $670 14 $630 15
4013 NORTHGATE $300 30 $285 28
NORTH - INNER $450 131 $450 132
4014 VIRGINIA $370 10 $350 14
4007 ASCOT $550 8 $500 10
4017 BRACKEN RIDGE $280 19 $270 19
4011 CLAYFIELD $550 14 $500 14
4018 FITZGIBBON $340 8 $240 29
4012 NUNDAH $420 29 $430 28
4032 CHERMSIDE $380 129 $380 152
4030 LUTWYCHE $460 18 $450 11
4034 ASPLEY $350 84 $330 74
4031 GORDON PARK $445 29 $430 21
NORTH WEST - INNER $410 221 $380 170
4051 ALDERLEY $450 32 $450 48
4059 KELVIN GROVE $460 161 $385 123
4060 ASHGROVE $350 50 $360 36
4065 BARDON $310 10 $290 11
NB Median rents are collated by POSTCODE and are
NORTH WEST - OUTER $360 76 $330 79 based upon new bonds lodged for the quarter. The suburb
4053 STAFFORD $370 73 $330 75 listed is an example of one of the suburbs found within
SOUTH - INNER $350 467 $340 471 that postcode.
Please see page 41 for legend and further notes March Quarter 2012
10. 10
BRISBANE CITY
MEDIAN WEEKLY RENTS MEDIAN WEEKLY RENTS
Example Mar Qtr 2012 Mar Qtr 2011 Example Mar Qtr 2012 Mar Qtr 2011
Postcode
Postcode
Suburb Rent New Rent New Suburb Rent New Rent New
($) Bonds ($) Bonds ($) Bonds ($) Bonds
3 BEDROOM TOWNHOUSES continued 3 BEDROOM TOWNHOUSES continued
NORTH - OUTER $375 196 $370 185 4112 KURABY $360 34 $360 35
4013 NORTHGATE $440 17 $390 14 4113 EIGHT MILE PLAINS $390 167 $390 180
4017 BRACKEN RIDGE $360 60 $355 45 4115 ALGESTER $360 44 $350 49
4018 FITZGIBBON $370 35 $360 28 4116 CALAMVALE $375 61 $365 72
4032 CHERMSIDE $440 30 $435 43 SOUTH EAST - INNER $450 242 $440 202
4034 ASPLEY $375 54 $370 55 4151 COORPAROO $480 13 $465 17
NORTH WEST - INNER $500 24 $505 25 4152 CAMP HILL $435 116 $415 100
4059 KELVIN GROVE $480 13 $520 12 4170 CANNON HILL $470 71 $440 47
4060 ASHGROVE $455 7 $450 8 4171 BALMORAL $530 29 $530 29
NORTH WEST - OUTER $405 75 $410 66 4172 MURARRIE $480 13 $465 9
4053 STAFFORD $405 56 $410 54 SOUTH EAST - OUTER $400 50 $405 93
4054 ARANA HILLS $350 8 $360 5 4153 BELMONT $420 5 $415 18
4061 THE GAP $440 11 $430 7 4154 GUMDALE $400 34 $415 53
SOUTH - INNER $430 169 $410 170 4173 TINGALPA $375 11 $370 22
4103 ANNERLEY $480 28 $450 39 SOUTH WEST - INNER $470 97 $475 81
4104 YERONGA $430 11 $425 9 4068 CHELMER $525 46 $530 43
4105 MOOROOKA $440 28 $430 33 4075 CORINDA $400 51 $380 38
4120 GREENSLOPES $500 21 $500 9 SOUTH WEST - OUTER $350 158 $340 127
4121 HOLLAND PARK $460 15 $405 16 4069 BROOKFIELD $425 5 n.a. 1
4122 MANSFIELD $405 65 $395 63 4073 SEVENTEEN MILE ROCKS $410 17 $395 22
SOUTH - OUTER $380 401 $375 431 4074 JINDALEE $480 27 $435 16
4107 SALISBURY $470 11 $470 9 4076 DARRA $330 5 n.a. 1
4109 MACGREGOR $410 73 $385 84 4077 DOOLANDELLA $345 82 $330 47
4110 ACACIA RIDGE $340 8 n.a. 2 4078 FOREST LAKE $340 22 $330 38
GREATER BRISBANE
HOUSE AND UNIT MARKET
In Brisbane’s surrounding council areas, there was an Logan City’s median house price decreased 1.8 per cent
increase in sales in the under $350,000 price range as to $335,000. One of the suburbs to record price growth
well as in the $500,000 to $1 million bracket over the was Hillcrest with an increase of 9.8 per cent to $365,000.
March quarter. Sales activity was also up 5 per cent Developed mostly in the early 1980’s, the majority of
compared to the December quarter. properties are three-bedroom brick-and-tile homes
favoured by families. First home buyers have also moved
Ipswich’s median house price was flat at $300,000 over
into the area to snap up affordable homes.
the quarter. A number of Ipswich suburbs performed
well however two solid performers were Springfield Moreton Bay’s median house price decreased 2.4 per
Lakes, with median house price growth of 6.4 per cent to cent to $360,000 partly due to the increase in sales of
$388,500 and North Ipswich, which posted a median price more affordable properties.
increase of 6.7 per cent to $270,000. The varying types of properties sold over the March
Redland City’s median decreased 0.9 per cent to quarter was behind decreases in the median unit and
$420,000. A steady performer was Redland Bay which townhouse prices across most of Greater Brisbane.
recorded price growth of 4.2 per cent to $448,000. One In Logan and Redland, the large drop in median was
of the last coastal areas of Redland Shire to undergo largely due to a shift towards affordable stock. Woodridge
development, Redland Bay has become increasing in Logan saw an increase in sales – particularly for the
popular over recent years due to its village atmosphere sub-$250,000 bracket. In Redland, unit sales in Cleveland
and location right on Moreton Bay. were down, while more affordable sales in Capalaba were
up.
Please see page 41 for legend and further notes March Quarter 2012
