Burleigh Heads Market Update 2nd Half of 2019

In Q3 2019, Burleigh Heads recorded a median house price of $795,000, and a median unit price of $480,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -4.8% for houses and a growth of 3.2% for units. At the same time sales transactions slowed, by -31.1% for houses and by -44.3% for units. However, over the last six months Burleigh Heads has begun to see an increase in buyer activity, which has led to a spike in houses prices.

Average vendor discount between Q3 2018 and Q3 2019 has widened for houses to -4.9% but tightened for units to -3.6%. Market conditions in Burleigh Heads continue to favour buyers in regard to houses, whereas unit sellers are now able to lessen the discount that used to be offered.

 Over the past 12 months, house rental yields in Burleigh Heads increased significantly to reach 4.3% in June 2019. This suggests the house rental market will benefit current and future investors, particularly as there has been increased demand for rental properties across the same time period (up by 8.7% in the 12 months to Q3 2019).

2-bedroom houses have provided investors with +2.2% rental growth annually, achieving a median rent of $460 per week.

Burleigh Heads recorded a vacancy rate of 2.3% in June 2019, below the Gold Coast Main vacancy rate (2.7%) despite more rental stock entering the market. This confirms a healthy rental demand exists for properties in Burleigh Heads.