LJHN Local Market Report April 2018

Nerang
This report covers your local suburbs of Ashmore, Carrara, Gilston, Highland Park,
Molendinar, Mount Nathan, Nerang and Worongary.
April
2018
Brought to you by the team at LJ Hooker Nerang
pq (07) 5581 4422 ef nerang@ljh.com.au wx nerang.ljhooker.com.au

What’s happening in our local property market
Strongest growth Most traded Fastest sellers
Highland Park
13.6%
Nerang
7.8%
Nerang
213 sales
Carrara
234 sales
Highland Park
20 days
Carrara
25 days
At LJ Hooker Nerang, our goal is to provide you with the information you need to make conident decisions about property
- whether you are buying, selling, investing or renting. We have created this report which details local market conditions
and how property is performing in your area which at times can be very different to the combined performance of the
capital cities. Let us help you stay on top of changes in your local property market every quarter.
Across our local market, we have seen 1,924 properties listed for sale, over the past 12 months, which is higher than the same time
last year. This has impacted sales with 1,894 taking place over the past 12 months. Looking at the house market, the best performing
suburb, over the past 12 months, has been Highland Park which has seen its median sales price grow by 13.6%. The median sales
price of a home in Highland Park is now $550,000. Nerang saw its median house sales price grow by 8.1% with the median price now
sitting at $465,000 and Carrara grew 7.4% across 154 individual sales with a median of $582,500.
The most traded suburb for houses in our area has been Nerang with 213 homes sold over the past 12 months while Carrara had the
most unit sales with 234 transactions. House prices in Nerang have performed well with growth of 8.1% and now have a median price
of $465,000.
Over the past month, about $2,313,500 in units and $4,180,000 in houses has been sold in Nerang with $63.57m and $115.98m
respectively sold over the past 12 months.
Nerang has demonstrated the strongest price growth for units with prices rising 7.8% over the past 12 months. The median sales price
for units in Nerang is now $325,500 and with a median rent of $370 a week, they offer a rental yield of 6.6%.
The highest median housing rents in our area are $560 per week in Gilston and for units $440 per week in Carrara. Housing rental yields
in Highland Park are currently 5.3% demonstrating why the area is popular with investors.
The time it takes to sell a house in our region ranges from 20 days in Highland Park to 74 days in Mount Nathan, and the shortest
median time to sell a unit is 25 days in Carrara.
Top performing local suburbs
Highland Park
88
$550,000
13.6%
3.0%
Nerang
213
$465,000
8.1%
2.5%
Houses
Carrara
154
$582,500
7.4%
2.9%
Nerang
187
$325,500
7.8%
1.7%
Molendinar
73
$329,999
6.5%
0.9%
Units
Highland Park
29
$308,500
6.4%
0.8%
Number sold (12 months) Median Price Median Growth 12 months Annual Change over 10 years
Nerang

This month it’s all about Nerang
d One of the most popular suburbs in our region is Nerang where
308 houses were listed for sale over the past year. Houses in
Nerang have an average land size of 1,131 square metres.
d The suburb also has a large apartment market with 227 units listed
for sale over the past year.
d The suburb is tightly held with residents typically holding their house
for 12 years.
d The median value of houses in Nerang is $453,296. This is lower
than the median sales price which is currently $465,000.
d Over the past 12 months, buyer interest has eased with 213
houses sold this year compared to 294 sales last year.
d Houses are typically selling within 24 days.
d Sales prices have grown by 8.1% over the past 12 months and
vendors are typically discounting by -4.8% to secure a sale.
d All of this means it is now a great time to sell in Nerang.
Over 12-month period (1 Jan 2017 to 31 Dec 2017)
Suburb snapshot Houses Units
Number Sold
Median Sale Price
Annual Change in Median Price
Median Asking Rent
Indicative Gross Rental Yield
Total Listings
Median Days on Market
Total Value of Sales
213
$465,000
8.1%
$438
5.3%
308
24
$115.98m
187
$325,500
7.8%
$370
6.6%
227
35
$63.57m
Our local area expertise – investing
For housing investors, the best buying in our area
can be found in Highland Park where houses are
returning a 5.3% yield, while units in Nerang are
returning a 6.6% yield - making it a good place
for savvy investors to look for inlation-beating
returns.
The median price of a house in Highland Park
currently is $550,000 and average rents are
$510 per week whereas median unit prices are
$325,500 in Nerang with rents of $370 per week.
This means it could be possible to purchase a
cash-positive investment unit.
Unit prices in Nerang have jumped by 7.8% over
the past year, meaning investors who bought a
year ago have seen good gains and good rental
returns.
Highland Park is the second best yielding unit
suburb in our area with units that cost around the
median price of $308,500 returning 6.4% with
median asking rents of $370 per week, while
Molendinar also is worth watching with returns of
6.2% based on a median price of $329,999 and
rents of $383 per week.
For those interested in investing in houses, also
consider Nerang where prices have moved
strongly by 8.1% while yields are 5.3% - which
could be a cash low positive investment.
Suburb
Highland Park
Nerang
Carrara
Nerang
Highland Park
Molendinar
Highest yielding suburbs in our area
Number
Sold*
88
213
154
187
29
73
Median Sale
Price*
$550,000
$465,000
$582,500
$325,500
$308,500
$329,999
Change
in Median
Price*
13.6%
8.1%
7.4%
7.8%
6.4%
6.5%
Median
Asking Rent*
$510
$438
$538
$370
$370
$383
Indicative
Gross Rental
Yield*
5.3%
5.3%
5.1%
6.6%
6.4%
6.2%
Nerang

Make a move
and you could *
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There are now 1 million more reasons to
tap into 90 Years Of Experience.
Get a market update or list your property for sale before April 30 2018, and you could
be spinning the prize wheel for a chance to win $1,000,000 to spend with us.
Make your move now.
*Terms and conditions apply, see win.ljhooker.com.au for details. Authorised under permit numbers ACT TP 17/02636, NSW LTPS/17/20764, SA T17/2453.
© LJ Hooker Corporation Limited.
Know what your property is worth in today’s market.
Ask the team at LJ Hooker Nerang.
(07) 5581 4422
nerang@ljh.com.au
nerang.ljhooker.com.au
Nerang
Data for this report is provided by CoreLogic RP Data. In compiling this publication, CoreLogic has relied upon information supplied by a number of external sources.
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