Runaway Bay Property Factsheet 2nd Half of 2018
The Runaway Bay Research Factsheet 2nd Half of 2018 encompasses of the aggregate market conditions in Runaway Bay, Biggera Waters, Coombabah, Hollywell and Paradise Point.
The Runaway Bay median house price grew by 19.8% between Q2 2017 – Q2 2018, recording $760,000. On the other hand, the unit market has turned into a buyer’s market with median prices for units softened by -13.7% to $417,000. Compared to the Runaway Bay 1st Half 2018 Research Factsheet, which reported an annual (Q4 2016-Q4 2017) house and unit median price change of 8.0% and 3.2% (respectively); the housing market in Runaway Bay* has strengthened whilst units have become more affordable.
Between Q2 2017- Q2 2018 median price for properties in the Gold Coast Local Government Area (LGA) has softened, by -1.0% to $633,750 for houses and by -5.4% to $401,900 for units. Compared to the LGA buyers in Runaway Bay must pay a premium price to purchase a house, however they are rewarded with higher capital growth. The unit market in both Runaway Bay and Gold Coast LGA are now more affordable, thus first home buyers are encouraged to capitalize on this opportunity.
Weekly median rent in Runaway Bay over the past 12 months to Q2 2018 has softened to $550 for houses. Conversely, it has strengthened to $430 for units. Investors are enjoying a rental yield of 4.0% (houses) and 5.7% (units), similar to Gold Coast Main’s at 4.3% (houses) and 5.5% (units). Those looking to invest in the Gold Coast’s property market are urged to consider Runaway Bay.