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REIQ Journal : August 2008
Industry Research While the median was affected by an increase in the number of new properties and waterfront properties sold, Nelly Bay’s pristine location and the charms of this area are obvious. And even with triple figure median price growth, Nelly Bay remains a relatively affordable option for those seeking a sea-change. Another seaside location took out the number two spot for units and townhouses, with the median price in Palm Cove in Cairns increasing 79.4 per cent to $428,750 over the year. A number of new developments were released for sale in Palm Cove during the past 12 monts, however this strong result can also be attributed to the suburb’s reputation as home of one of the premier beaches in the Cairns region. The top sale over the year was for more than $1.5 million. Taking out the number three spot for units and townhouses for the second quarter in a row was Eagleby, previously in the Gold Coast and now part of the Logan shire. The suburb’s median increased 59.4 per cent to $263,000 over the year. With new developments in the area, Eagleby continues to benefit from it’s affordable price tag. 33 UNITS & TOWNHOUSES Locality NELLY BAY * ƒ WEST END * ƒ LOGANLEA * MILTON * ƒ CABOOLTURE * Former LGA New LGA TOWNSVILLE PALM COVE * ~ ƒ CAIRNS EAGLEBY * GOLD COAST TOWNSVILLE CITY CAIRNS REGIONAL LOGAN CITY BRISBANE CITY BRISBANE CITY LOGAN CITY LOGAN CITY BRISBANE CITY BRISBANE CITY TOOWOOMBA CITY ~ TOOWOOMBA TOOWOOMBA WINDSOR * BRISBANE CITY BRISBANE CITY “Median Mar 08” $280,000 $428,750 $263,000 $518,500 $227,000 $665,000 WOOLLOONGABBA * BRISBANE CITY BRISBANE CITY CABOOLTURE MORETON BAY REGIONAL $235,000 $196,500 $380,000 $364,100 All figures are as at 20 May 2008 and are subject to further revision (LGA) - Local Government Area; All data is based on the former Queensland LGA’s prior to 15 March 2008. Figures for the new LGA’s will be collated as of the June quarter 2008 “ The calculations of percentage change in median prices compare preliminary estimates in the current period with preliminary estimates in the previous period * Medians affected by varying quantities of new properties sold ~ Medians affected by varying quality of stock sold ƒ Medians affected by varying numbers of waterfront properties sold SOURCE: REIQ. Data made available by Department of Natural Resources and Water, (QVAS), via RP Data and Australian Business Research (ABR). This information has been carefully compiled and is not intended to be treated as a warranty or promise as to the correctness of the information. Interested parties should undertake independent enquiries and investigations to satisfy themselves that any details herein are true and correct. The REIQ does not allow this information to be used for advertising or marketing purposes. Enquiries about the reproduction of part or all of the information should be directed to the Marketplace Strategy Division, REIQ 12 months 12 months over to end of Mar 07” $135,000 107.4% $239,000 79.4% $165,000 59.4% $330,000 57.1% $150,000 51.3% $447,500 48.6% $158,750 48.0% $137,500 42.9% $267,000 42.3% $260,000 40.0% “Median Change to end of 1yr” The latest in luxury is here. New 2009 Sonata Diesel 2.0L Automatic from $26,950* REIQ members Save $5,540# REIQ members are entitled to fleet discounts with James Frizelle’s Gold Coast Hyundai Official Sponsor of the Gold Coast Titans James Frizelle’s Gold Coast Hyundai 5583 8810 Cnr Nind & High Sts, Southport. (A/H Daniel 0405 974 439) James Frizelle’s Tweed Hyundai 5569 9700 117-123 Minjungbal Dr, Tweed Heads Sth. (A/H Paul 0412 697 707) jamesfrizelles.com.au *RRP of Sonata Diesel 2.0L Automatic, excludes dealer delivery charges of $1,695. Metallic/mica paint additional $375. # Savings based on RRP. McKenzie13566D REIQ Journal August 2008 Gold Coast Hyundai QLD’S NO.1 DEALER