Caboolture Property Watch Q1 2014
The following Property Watch is a result of an investigation into the Caboolture housing market for the ten year period ending December 2013. Encompassing the central suburbs of Caboolture and Caboolture South, the area services the residential catchment located between Brisbane and Sunshine Coast. The Caboolture Shire Council has encouraged the development of low cost housing and affordable housing estates as part of its housing policy. In this Property Watch, house, unit and vacant land sales cycle and price point trends will be analyzed and supported.
Observing the house and vacant land sales cycle, median price of house and vacant land in the Caboolture Area experienced a sharp increase in the period leading to 2007. Since then, there were mild fluctuations in median prices for both land and houses. In a six month period to December 2013 there was another spike in median sale price of house and vacant land. Looking at the number of house and vacant land sold there was a marginal increase in both. In the ten year period ending December 2013, there was a growth rate of 3.5 per cent per annum recorded for house sales and comparable 3.8 per cent per annum for vacant land.
The house price point for the $250,000 - 299,999 price point recorded an increase of five per cent on the six months prior. Median price of units recorded a growth rate of 8.2 per cent per annum in a ten year period ending December 2013, in contrast with house which registered a growth rate of 3.8% in the same period. Caboolture is gradually expanding with attractive sites and infrastructure which continue to attract residents. An expansion of the township with a corresponding increase in economic activities could encourage consistent growth levels in house and land sales.
Observing the house and vacant land sales cycle, median price of house and vacant land in the Caboolture Area experienced a sharp increase in the period leading to 2007. Since then, there were mild fluctuations in median prices for both land and houses. In a six month period to December 2013 there was another spike in median sale price of house and vacant land. Looking at the number of house and vacant land sold there was a marginal increase in both. In the ten year period ending December 2013, there was a growth rate of 3.5 per cent per annum recorded for house sales and comparable 3.8 per cent per annum for vacant land.
The house price point for the $250,000 - 299,999 price point recorded an increase of five per cent on the six months prior. Median price of units recorded a growth rate of 8.2 per cent per annum in a ten year period ending December 2013, in contrast with house which registered a growth rate of 3.8% in the same period. Caboolture is gradually expanding with attractive sites and infrastructure which continue to attract residents. An expansion of the township with a corresponding increase in economic activities could encourage consistent growth levels in house and land sales.