Ashmore Property Factsheet 1st Half of 2019
Ashmore* recorded a median house price of $586,500 and $334,000 for units in Q4 2018. This represented an annual (Q4 2017-Q4 2018) price softening of -5.4% for houses and -3.5% for units. Compared to the Ashmore* 2nd half 2018 Research Factsheet, which reported an annual (Q2 2017 – Q2 2018) price change of 1.5% (house) and 2.8% (units), properties in Ashmore* has become more affordable. Now is an ideal time for first home buyers to tap into the market and take advantage of a softening market.
Annual (Q4 2017-Q4 2018) median house prices also softened in the wider Gold Coast Main Local Government Area (LGA), by -1.5% to $645,000. That said it has strengthened by 1.2% to $430,000 for units. When compared to the LGA, Ashmore’s* property market is more affordable – both from a median price and softening market perspectives. Astute investors should take this opportunity to enter the market and benefit from growing rental demand.
Average vendor discounting has largely widened over the past 12 months to Q4 2018. Average vendor discounting for houses have further widened towards the buyer’s favour, from -3.9% in Q4 2017 to -4.8% in Q4 2018. This further confirms that now is an ideal time to enter the market.Median rental prices in Ashmore* have strengthened over the past 12 months to Q4 2018, by 2.0% to $550 per week for houses and by 7.0% to $400 per week for units. Investors are also benefitting from quick rental uptake in this high-demand market, as Ashmore* vacancy rates were at a low 1.2% as of December 2018. This is lower than Gold Coast LGA average of 1.8% and Brisbane Metro average of 3.2%, indicating a healthier rental market demand.