Nundah Property Factsheet 2nd Half 2018

Nundah is located approx. 8kms north-east of Brisbane CBD. The area has become gentrified in recent years, with modern high-density apartment blocks.  According to ABS Census 2016 57.4% of occupied private dwellings in Nundah were rented, higher than the Queensland average of 34.2%. This signals a healthy rental market for investment.

The property market of Nundah recorded a median house price of $727,500 and $395,000 for units in Q3 2018. This represented an annual (Q3 2017-Q3 2018) price softening of -3.0% for houses and a strengthening of 0.8% for units. Compared to the Nundah 1^st half 2018 Research Factsheet, which reported an annual (Q1 2017 – Q1 2018) price change of 9.2% (house) and -9.4% (units), houses in Nundah have become more affordable whilst units have significantly strengthened. Now is the time for house buyers to enter the market.

Annual (Q3 2017-Q3 2018) median prices softened in the Brisbane City Local Government area (LGA), by -3.0% to $660,000 for houses and by -4.0% to $425,000 for units. When compared to the LGA median property prices in Nundah offer a more premium market for houses and affordable options for units. The Nundah unit market proves to be more resilient, with positive capital growth, making it a feasible alternative investment to Brisbane Metro.

Median rental prices in Nundah have strengthened for houses over the past 12 months to Q3 2018 by 3.4% to $460 per week but were stable for units at 0.0% to $380 per week. This is potentially due to the new supply of units in the market. Investors are assured of quick rental uptake in this high-demand market with low vacancy rates of 2.7% (as of June 2018), lower than Brisbane Metro’s (3.0%).