QLD ATTACHED DWELLING SALES

Jul 04, 2017
Michael Matusik

As we said late last week, it’s that time of the year to pause and take a look at what has happened in our own backyard. The table below outlines attached dwelling sales across Queensland.

Location Sales this year Change on last year Market size Median price his year Change on last year
Cairns 1,762 -4% 5% $230,000 2%
Townsville 517 -30% 2% $265,000 -9%
Mackay 355 1% 1% $240,000 -17%
Gladstone – Rockhampton 335 -16% 1% $265,000 -14%
Hervey Bay – Bundaberg 625 -9% 2% $258,000 -1%
Sunshine Coast 3,953 -4% 12% $395,000 3%
Moreton Bay 2,170 -17% 6% $342,000 -1%
Brisbane 11,028 -27% 32% $453,000 -1%
    Inner city 4,944 -31% 15% $490,000 -1%
    Northern suburbs 1,486 -32% 4% $402,000 -5%
    Western suburbs 1,048 -20% 3% $448,500 -1%
    Southern suburbs 2,568 -30% 8% $437,500 1%
    Eastern suburbs 982 -23% 3% $389,000 -1%
Logan – Beaudesert 1,076 -19% 3% $247,000 1%
Gold Coast 10,609 -10% 31% $399,000 5%
Ipswich 946 -10% 3% $335,000 -2%
Toowoomba 566 -13% 2% $309,000 0%
Darling Downs area 85 1% 0% $220,000 -10%
Outback Queensland 34 -23% 0% $340,000 -11%
Total 34,061 -18% 100% $387,500 -1%

Some observations:

  • There were four attached dwelling sales to every ten detached house sales in Queensland last year. Overall, this ratio has shown little change over the past ten years.   Yet, in recent years it has dropped from five attached sales to every ten detached sales.
  • Sale volumes and median values are down across the board. As we outlined last week, sale volumes matter and they help to tell us what’s likely next.  With  substantial falls in sale volumes, plus rising levels of apartments in particular, for sale in many parts of the state, Queensland’s apartment market – in general – is in for a tough fiscal 2018.
  • Attached dwelling sales are also very concentrated in a few select areas across the state. These include the Gold Coast, inner Brisbane and the Sunshine Coast.  These three areas comprised some 20,000 attached dwellings sales last year or 60% of the Queensland total.  This lifts to 75% if you include all of the Brisbane City Council area.

On Thursday, we will look at vacant land sales.

Keen to hear your thoughts.

Until next time,

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Michael Matusik

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