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Australian Economic Property Report 2019

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March 19, 2020, 7:30 a.m.

From the desk of Chief Economist - Why you should invest in property now

COVID-19 has taken us all by surprise and its power has rapidly weakened our economy over the past three months. So much so that the Reserve Bank of Australia (who were positive in their projection based on property market data and held the cash rate stable in February 2020), cut the cash rate in March 2020.

March 17, 2020, 12:38 a.m.

Australian Bushfires | The Real Estate Perspective

PRD’s latest research report ‘Australia Bushfires | The Real Estate Perspective’ shines a light on the silver lining to the devastating impact many Australian communities have experienced.

March 2, 2020, 11:44 p.m.

Burleigh Heads PRD Market Update 1st Half of 2020

Burleigh Heads* recorded a median house price of $850,000 and a median unit price of $480,000 in Q4 2019. This represents annual (Q4 2018 – Q4 2019) median price growth of 8.3% for houses and 5.1% for units. Between Q4 2018 – Q4 2019 house sales increased by 30.3% (to 215 sales), and unit sales increased by 21.1% (to 230 sales). Current market conditions shows clear signs of market recovery, as an increase in demand is accompanied by an increase in property prices. Now is the time to transact in Burleigh Heads*.

Feb. 21, 2020, 6 a.m.

Tannum Sands PRD Market Update 2nd Half of 2019

In the 2nd Half 2019, Tannum Sands recorded a median house price of $365,000, and a median unit price of $171,000. This represents annual (2nd Half 2018 - 2nd Half 2019) growth of 19.3% for houses and softening of -32.7% for units. At the same time total sales slowed for 2nd Half 2019, to 20 sales for houses and 9 sales for units. A small market can create fluctuations in trend, but the house market has seen confidence return in the past 12 and 6 months.

Feb. 21, 2020, 5:31 a.m.

Peregian Springs PRD Market Update 2nd Half of 2019

In Q3 2019, Peregian Springs recorded a median house price of $626,000 and a median unit price of $565,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -3.7% for houses and a price growth of 7.6% for units. At the same time total sales slowed, down by -54.3% for houses to 16 sales and by -58.8% for units to 14 sales. Houses are now more affordable, and with less competition makes it an ideal market for first home buyers.

Feb. 21, 2020, 4:43 a.m.

Nundah PRD Market Update 2nd Half of 2019

In Q3 2019, Nundah recorded a median house price of $849,000, and a median unit price of $410,000. This represents annual (Q3 2018 – Q3 2019) median price growth of 27.1% for houses and 5.9% for units respectively. That said total sales slowed for Q3 2019, down by -50.0% for houses to 14 sales and by -17.0% for units to 44 sales. Q3 2019 saw confidence returning, but limited availability of house stock resulted in an unprecedented price growth.

Feb. 21, 2020, 4:25 a.m.

Mildura PRD Market Update 2nd Half 2019

In Q3 2019, Mildura* recorded a median house price of $315,000, and a median vacant land price of $125,000. This represents annual (Q3 2018 – Q3 2019) growth of 13.3% for houses and softening of -7.4% for land. Total sales slowed annually, by -22.8% for houses to 125 sales and by -43.8% for land to 18 sales in Q3 2019. Limited land sales makes this data volatile, yet highly affordable. Median house price growth show confidence is returning in Mildura*.

Feb. 21, 2020, 4:10 a.m.

Maryborough PRD Market Update 2nd Half of 2019

In Q3 2019, Maryborough recorded a median house price of $203,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -9.8%. At the same time total sales slowed, down by -36.1% (to 92 sales in Q3 2019). In comparison, Fraser Coast Region Local Government Area (LGA) recorded a higher median house price of $318,000. The Maryborough property market provides more affordable options when compared to the LGA, and with less competition in the market presents itself as a ideal for first home buyers.

Feb. 21, 2020, 3:53 a.m.

Mackay PRD Market Update 2nd Half 2019

In Q3 2019, Mackay recorded a median house price of $338,000, and a median unit price of $158,000. This represents annual (Q3 2018 – Q3 2019) median price growth of 4.6% for houses and a price softening of -35.5% for units. At the same time total sales slowed, by -17.3% for houses (to 43 sales) and by -50.0% for units (to 8 sales). Although the unit market can be volatile, the house market shows a return in confidence and potentially an undersupply.

Feb. 21, 2020, 3:14 a.m.

Hervey Bay PRD Market Update 2nd Half of 2019

In Q3 2019, Hervey Bay recorded a median house price of $364,000, and a median unit price of $240,000. This represents annual (Q3 2018 – Q3 2019) growth of 1.8% for houses and -15.8% for units. Total sales slowed in Q3 2018-Q3 2019, by -22.9% for houses (307 sales in Q3 2019) and by -24.2% for units (69 sales in Q3 2019). There has been less stock in the market, thus low listing figures. With growth in median house price now is an ideal time to transact.