Hope you’re well. We trust that the new year will bring fresh opportunities and success to your investment endeavours.
In this newsletter, we’re excited to share some key updates and insights about the property market that we believe may be of interest to you.
Rochedale South
- 48 properties available for rent and 43 properties for sale in January.
- Median property prices continue rising to $807,500 for houses and $450,000 for units.
- Median price for 4-bedroom houses achieved a new record high at $876,000, rose by 3.4% over the last 12 months
- Median rent for houses rent out for $620 per week, grew by 10.7% annually, with an annual rental yield of 4.2%.
- Units rent for $450 per week, increased significantly by 21.6% over the past 12 months, with a rental yield of 5.7%.
Brisbane
- Brisbane’s housing values continued to rise, with a monthly increase of 1% .
- The median dwelling value in Brisbane increased to $796,818 (houses & units), surpassing Melbourne.
- Compared to the onset of COVID, housing values in Brisbane have risen significantly by 52%.
Rental vacancy rate
- Rental vacancy rate in postcode 4123 increased from 1.4% to 1.6% in January
- Brisbane vacancy rate fell from 1.2% to 1.0% in January.
- Louis Christopher, Managing Director of SQM Research said: “Most likely the fall in rental vacancies was driven by increased demand from
tertiary students following the start of campus semesters for 2024. As well as graduates entering the workforce for the first time.”
Rochedale South
Cash rate
The RBA held the cash rate at 4.35% in February. Market anticipates easing of monetary policy, with expectations of a 25-basis-point reduction towards the year’s end, and further cuts in 2025.
With inflation showing signs of easing and rate cuts anticipated later this year, consumer sentiment is poised to strengthen, thereby further bolstering housing market activity.
We’re excited to connect with you and assist you in maximizing your success in property investment.
Looking forward to hearing from with you and discussing how we can work together to achieve your goals.
Sources:
SQM Research. (2024). Vacancy Rates Sharply Decrease Over January Available from: https://sqmresearch.com.au/uploads/14_2_24_National_Vacancy_Rate_January_2024_FINAL.pdf
CoreLogic. (2024). Hedonic Home Value Index. Available from:
https://www.corelogic.com.au/__data/assets/pdf_file/0012/21207/CoreLogic-HVI-FEB-2024-FINAL-wCPI.pdf
CoreLogic. (2024). Monthly Housing Chart Pack. Available from: content.corelogic.com.au/l/994732/2024-02-08/212hnm/994732/1707448385uTbZardG/202402_chart_pack.pdf
realestate.com.au.(2024) Explore Suburb Profiles – Rochedale South. Available from: https://www.realestate.com.au/qld/rochedale-south-4123/
