Southport Property Factsheet 2nd Half 2018
The Southport property market recorded a median price of $582,000 for houses and $362,000 for units in Q2 2018, which represents an annual price change of 3.9% and -4.7%. Compared to Southport 1st half of 2018 research factsheet, which reported a 4.5% (house) and 0.1% (unit) annual median price growth between Q4 2016 – Q4 2017, properties in Southport is now more affordable. There is similar trend in the Gold Coast Local Government Area (LGA), which reported an annual price change of -1.0% (houses) and -5.4% (units) in Q2 2018, lower than the annual price change reported in the 1st half of 2018 research factsheet (4.9% and 0.0% growth for houses and units).
There is a slowing down in the Gold Coast City Local Government Area (LGA) market overall, with affordability increasing. That said compared to the Gold Coast City LGA property market Southport offers a stronger property market, based on differences in annual median price change. Further, Q2 2018 Southport median prices were lower than Gold Coast City LGA ($633,750 for house and $401,900 for units), which confirms Southport as a hot-spot for those looking for a more affordable alternative in the Gold Coast.
Southport continue to offer investors high returns, with rental yields of 4.4% (house) and 5.2% (units) in June 2018. Median house rental price has increased by 4.2% to $500/week over the past 12 months to Q2 2018 and unit median rent increased by 1.3% to $405/week. Combined with a more affordable entry price to Gold Coast LGA this confirms Southport as an investment hot-spot.