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SQM Research Residential Newsletter 
Tuesday 28 January 2020
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Words for the Week

I say things other people wish they could say. I don't pick on people - I empower them."

Barry Humphries

Real Estate Realities 

Australia’s biggest auction event: Gold Coast property sees ‘strongest level of interest in 47 years’

Properties worth more than $17 million sold under the hammer on Saturday, rewarding buyers, sellers and investors who braved a hot and humid day to attend Australia’s biggest auction event on the Gold Coast.

Momentum has been building on the Gold Coast over the summer months with a number of high-profile deals, including the recent sale of fitness guru and social media queen Ashy Bines’ Burleigh Waters property, which changed hands for $2.2 million.

Expectations were high on Saturday as the crowd passed through the exhibitor’s stalls at RACV Royal Pines Resort, tasting free ice cream, and picking up information as they made their way into the auction room.

It was fully packed ready for an 11am auction start. Domain’s House Price Report released last week shows that the area’s median house price sits at $640,00 (up 3.2% year-on-year), and the unit price at $420,000 - and with stock levels at record lows, the anticipation of competition was palpable.

It didn’t disappoint. By 4pm, more than $17 million worth of property had sold under the hammer and Andrew Bell, chief executive officer of the Ray White Surfers Paradise Group, said this was the strongest level of interest he’d seen in his 47 years in the business.

DISTRESSED PROPERTY OF THE WEEK

 46/35 Ashridge Road, Darra QLD 4076

This 4 bedroom, 2 bathroom townhouse in the Brisbane suburb of Darra, is for sale at a reduced price of $375,000 after initially being advertised for $395,000 in August 2019.  It was last sold for $282,000 in September 2003.
 
As the agency states, the $375k price tag is below the
Brisbane median asking price which SQM data currently shows as being between $548k to $641k for houses.  The median asking price for houses in postcode 4076 ranges from $440k to $550k.
 
Built in 2003, the house sits on a 732 sqm block with spacious, open plan living areas.  The main bedroom has an ensuite plus a walk-in robe and the other three bedrooms are serviced by a bathroom with a separate toilet. The living area and main bedroom are air-conditioned and the bedrooms have ceiling fans. There is remote-controlled garage for two cars and also contains the laundry area.

Darra is located about 14km southwest of Brisbane’s CBD and over the last few years has been transformed with subdivisions, new homes, upgraded train station and road upgrades.  The area now attracts young couples and families. 
 
The median asking price 
for houses in this postcode has increased 36.2% over 3 years and a huge 43.2% growth over 12 months.  Over the last month there has been a 4.0% increase in asking prices.  In comparison, asking price for houses in the Brisbane  region has had a 0.5% growth over the month and 3.3% growth over 12 months. 
 

Stock on market is low with 52 properties for sale in December, dropping from 61 in November.
 
Investors can expect a median
asking rent of $350 to $358 per week in Darra for houses. This has increased 1.8% over the month, after a 8.1% increase over 3 years.  The median rental yield is 3.3% and vacancy rate remains low at 2.0%.
 
This family friendly neighbourhood is showing good growth over the recent months and could be worth investigating.
 
For a more indepth look at the property market for 2020, subscribe to 
Christopher’s Boom and Bust Report 2020.

SQM website also features free property data that is now more interactive, easier to navigate and user-friendly, so keep monitoring this market’s growth at SQM Research’s free property data. Also consider the SQM Property Explorer product for more in-depth data and property price estimator.


TOP TEN LOWEST RATIO OF STOCK ON MARKET (Capital Cities Only)





 
Louis Christopher's 2020 Housing Boom & Bust Report has now been released and is available for $59.95!

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Key features of the 2020 Boom & Bust report include:

  • Louis Christopher's personal take on the markets 
  • Capital city forecasts 
  • Main drivers of demand and supply at present and going forward 
  • All leading indicators such as stock on market, vacancy rates etc
  • All the possible scenarios that could play out next year 
  • Nearly every city and regional postcode covered re: property stats plus ratings outlook

If you are interested in where the market is heading on a national level, then this is the report for you from one of the most accurate housing market forecaster in the country. 

If you are a real estate professional or a serious residential property investor, you will not want to miss this report!

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SQM RATINGS NEWSLETTER

Did you know that SQM Research doesn’t only provide residential property data, we also provide research on all asset classes.  We have data and analytics on over 10,000 funds in Australia.  To find out more and to subscribe to our Fund Data tool click here.

If you would like to subscribe to our Ratings Newsletter, click here.  The newsletter provides regular updates on all funds including ratings changes and media releases, and valuable Insights into the point of view of our analysts on a variety of ratings research related topics.  And it’s completely free!
 

SQM RESEARCH HOUSING INDEXES
 
SQM Research Weekly Asking Prices Index
Week ending: 28 Jan 2020  Asking Price     Chg on
prev wk
  Rolling month
% chg
  12 month
% chg
Sydney  All Houses 1,333.3 11.6  -0.6%  6.9% 
All Units 716.1 -2.4  -0.7%  1.1% 
Melbourne  All Houses 1,030.2 -5.2  0.2%  5.8% 
All Units 550.3 1.1  0.1%  -0.6% 
Brisbane  All Houses 640.7 -0.9  0.5%  3.3% 
All Units 372.6 0.8  0.6%  -0.7% 
Perth  All Houses 649.5 -2.0  -1.1%  -2.5% 
All Units 376.1 1.1  0.4%  -3.7% 
Adelaide  All Houses 525.1 1.0  0.7%  2.1% 
All Units 302.2 0.6  0.2%  0.4% 
Canberra  All Houses 819.2 -2.6  -0.4%  -0.8% 
All Units 438.1 3.7  1.4%  2.9% 
Darwin  All Houses 569.6 3.2  0.6%  -2.8% 
All Units 307.8 0.4  -0.4%  -23.3% 
Hobart  All Houses 551.5 -3.4  1.3%  12.1% 
All Units 343.5 3.4  0.5%  8.0% 
National  All Houses 586.8 1.7  -0.1%  3.5% 
All Units 385.8 1.9  0.7%  1.8% 
Cap City Average     All Houses 973.5 2.5  -0.4%  5.5% 
All Units 575.1 0.3  -0.4%  -0.1% 

Next update: 4 Feb 2020

SQM Research Weekly Rents Index
Week ending: 28 Jan 2020 Rent      Chg on
 prev wk
  Rolling month
% chg
   12 month
% chg
Sydney  All Houses     698.9 7.1  2.1%  -1.9% 
All Units 501.1 1.9  1.2%  -1.9% 
Melbourne  All Houses 542.2 0.8  0.9%  -0.3% 
All Units 418.2 2.8  1.6%  1.3% 
Brisbane  All Houses 473.5 -0.5  0.3%  3.2% 
All Units 377.0 -1.0  -0.1%  0.6% 
Perth  All Houses 443.2 0.8  0.6%  0.7% 
All Units 338.3 1.7  0.7%  3.0% 
Adelaide  All Houses 403.2 1.8  -0.4%  1.9% 
All Units 312.4 -0.4  -0.9%  3.4% 
Canberra  All Houses 635.8 4.2  -0.2%  -1.1% 
All Units 461.6 -3.6  -0.1%  -0.9% 
Darwin  All Houses 465.1 -4.1  -2.1%  -9.7% 
All Units 380.2 1.8  -0.2%  -2.1% 
Hobart  All Houses 450.6 -14.6  -2.5%  7.6% 
All Units 436.9 12.1  7.0%  18.2% 
National  All Houses 452.0 1.0  0.4%  0.7% 
All Units 374.0 0.0 3.0%  1.9% 
Cap City Average     All Houses 562.0 3.0  1.4%  0.0%
All Units 441.0 1.0  1.1%  0.0%

Next update: 4 Feb 2020

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