Nundah Property Market Update 1st Half of 2021

In Q1 2021, Nundah recorded a median house price of $803,000, and a median unit price of $420,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 1.3% for houses and 10.5% growth for units. Between Q1 2020 – Q1 2021 total sales increased, by 58.8% for houses (to 27 sales) and by 82.8% for units (to 117 sales). Median price growth alongside higher sales suggests real returns on capital investment in Nundah, more so evident in the unit market. Now is the time to transact, particularly for current owner-occupiers looking to benefit from a highly demanded market.

Average vendor discounts between Q1 2020 and Q1 2021 have tightened for both property types, to -0.2% for houses and -0.9% for units. Market conditions in Nundah are shifting towards a seller’s market as buyers are willing to offer closer to the first asking price. Discounts are still available; however, time is limited.

In March 2021, house rental yields in Nundah were recorded at 3.1%. In the 12 months to Q1 2021, the median house rental price increased by 8.3% to $520 per week, with average days on the market declining by -27.4% (to 20 days). This places Nundah as a strong rental market, with room for more investors to enter the market.

3 bedroom houses have provided investors with +6.4% rental growth annually, with a median rent of $500 per week.

Also in March 2021, Nundah recorded a low vacancy rate of 1.3%, sitting below Virginia (1.5%) and Brisbane Metro (1.5%). Vacancy rates in Nundah remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0% and have on overall travelled on a declining trend since the peak of COVID-19 in April 2020. This further indicates that there is still an influx of rental demand in the area, creating a highly conducive investment market for investors.