Nundah Property Factsheet 1st Half of 2018
The softening in Nundah’s unit property market is at a faster rate than that of cooling unit prices in Brisbane. For investors this may suggest that caution needs to be heeded as to which type of residential stock is chosen, however first home buyers/owner occupiers can rejoice at increasing affordable options in the near future to assist them entering the property market.
The Nundah property market recorded a median house price of $730,000 and $385,000 for units in Q1 2018, which represents an annual price change of 9.2% and -9.4% respectively. Over the same period of time (Q1 2017 to Q1 2018), property prices in Brisbane City Local Government Area (LGA) softened slightly by -0.5% to $660,000 (house) and by -2.9% to $427,250 (unit). Compared to Brisbane LGA, Nundah houses offer a more premium market and positive growth. Units are more affordable in Nundah compared to the Brisbane LGA.
The softening in Nundah’s unit property market is at a faster rate than that of cooling unit prices in Brisbane. For investors this may suggest that caution needs to be heeded as to which type of residential stock is chosen, however first home buyers/owner occupiers can rejoice at increasing affordable options in the near future to assist them entering the property market.
Median rent in Nundah has softened slightly for houses (by -1.1%) while unit prices have increased (by 2.0%) over the past 12 months to Q1 2018, currently at $445 per week (house) and $388 per week (units). Investors are benefiting from rental yields of 3.3% (house) and 5.0% (units). Combined with declining vacancy rates (3.0% in December 2017) and shrinking days on the market – 15 days (house) and 23 days (unit) – Nundah proves itself as a strong rental market. Investors and occupiers need to act now.
