PRD Caboolture Property Factsheet 1st Half 2019

Caboolture recorded a median house price of $325,000 and $180,000 for units in Q1 2019. These figures represented an annual (Q1 2018-Q1 2019) price softening of -4.4% for house and -17.7% for units. Compared to the Caboolture 2^nd half 2018 Research Factsheet, which reported an annual (Q3 2017 – Q3 2018) median price change of 0.9% (house) and -7.5% (units), properties in in Caboolture have now become more affordable. This is good news for first home buyers.

In comparison, Moreton Bay Regional Local Government Area (LGA) recorded a higher median house price of $460,000 in Q1 2019, with an annual (Q1 2018-Q1 2019) growth of 1.1%. Median unit price in Moreton Bay LGA was $297,000 in Q1 2019, with an annual price softening of -11.7%. This suggests that property prices in Caboolture are more affordable compared to Moreton Bay LGA, providing first home buyers and investors a higher chance of entering the market.

Median house rental price has softened between Q1 2018-Q1 2019 by -1.4% to $340 per week. On the other hand, median unit rental price has strengthened, by 1.8% to $285 per week. Investors are benefiting from low average days on the market for both property types (house; 21 days and units; 28 days). Astute investors need to take this opportunity to enter the market as vacancy rates were recorded at 2.0% in December 2018, well below the Moreton Bay LGA vacancy rate of 3.0% and Brisbane Metro vacancy rate of 3.2%. Furthermore, investors are benefiting from extraordinary rental yields for both house (4.7%) and units (5.5%).