Tallebudgera Property Market Update 2nd Half of 2022
In Q2 2022, Tallebudgera recorded a median house price of $1,435,000. This represents annual (Q2 2021 – Q2 2022) median price softening of -5.0% for houses. House sales decreased between Q2 2021 – Q2 2022, by -60.0% to 14 sales. Low stock explains the decrease in sales, due to a limited number of new stand-alone homes built in the area. Further, sellers may be discouraged by the current cash rate hikes, which limits the borrowing capacity of a buyer for purchasing in a premium market. The market has turned in Tallebudgera, with median house price softening offering higher affordability for buyers.
Average vendor house discount between Q4 2020 and Q4 2021 have fluctuated, sitting at a premium of 2.6% in Q2 2022. Market conditions in Tallebudgera in Q2 2022 favour vendors, with buyers having to offer higher than the first list price. This was the case in Q3 2021 also, however not earlier in 2022. This represents a sensitive market, due to premium house prices.
House rental yields in Tallebudgera was 3.4% in June 2022. Median house rental price increased by 15.8% between Q2 2021 – Q2 2022, and the number of houses rented increased significantly to 17 houses. Average days to let declined quite significantly, by -25.0% to 18 days. This is an expected dynamic in the market, as there has been a decrease in property sales. In an uncertain environment of cash rate hikes many owners have opted to rent out their houses instead of selling.
3 bedroom houses have provided investors with +14.9% rental growth annually, achieving a median rent of $1,000 per week.
Tallebudgera recorded a vacancy rate of 2.2% in June 2022, which is above Brisbane and Gold Coast Metro’s 0.6% average; but is under the Real Estate Institute of Australia’s healthy benchmark of 3.0%. Vacancy rates in Tallebudgera have heavily fluctuated over the past 12 months, due to the balance of demand and supply in the market. That said there is still a healthy rental demand and investors can be confident of a conductive investment environment in Tallebudgera.
