Suburb Profile Report for Palm Cove QLD (4879)

Palm Cove House: Median price $530,000, Annual capital growth 1.89%, Number of sales 41, Weekly median advertised rent $498

Palm Cove Unit: Median price $327,500, Annual capital growth -2.02%, Number of sales 102, Weekly median advertised rent $330

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

QLD has seen average median house prices change by 2.45% which means that Palm Cove, 4879 has done well for property investors by showing a capital gain of -13.82% over the last year

Over the longer term, Palm Cove has seen property prices show investors a -6.19% return over the last 3 years. This is worse than over the last 12 months

At number 460th of QLD’s most discounted properties, Palm Cove is in the middle of the state/territory when listing in order of most discounted to least.

A $497.5 per week rent on the median house gives suburb investors a gross yield of circa 4.88%, without taking into account capital value appreciation, which has been averaging out at 1.89%.

Giving property investors a a solid capital gain of 14.91% for the last year, Palm Cove, 4879 is the 294th highest performer in Australia in this respect.

Across a shorter period, Palm Cove, 4879 has seen a median price increase of 14.91% over the last quarter.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.98% offered to property buyers. Sellers in Palm Cove itself are offering an average vendor discount of -8.42% to real estate investors.

With the median price for a house in Palm Cove being $327500 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 5.24%

Metrics i HOUSE UNIT
$530,000 $327,500
0.00% 14.91%
-13.82% 14.91%
1.89% -2.02%
$498 $330
41 102
4.88% 5.24%
93.33 123.79

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 1656
Median household income ($/weekly) 1051
Median age of persons 45
Median housing loan repayment ($/monthly) 1842
Average household size 2.1
  • Census Count Percent(%)
    25-34 years 185 11.2
    35-44 years 282 17.0
    45-54 years 286 17.3
    55-64 years 296 17.9
    65-74 years 183 11.0
    Others 425 25.6
    Age Group
    Census Count Percent(%)
    Registered Married 616 52.6
    Not Married 408 34.8
    Defacto Relationship 148 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 969 65.8
    Greece 21 1.4
    Papua New Guinea 82 5.6
    United Kingdom 210 14.3
    Other 59 4.0
    Others 132 9.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 34 2.4
    Christianity 930 65.1
    Islam 11 0.8
    Judaism 6 0.4
    No Religion 442 30.9
    Others 6 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 56 9.4
    $600-$799 81 13.7
    $800-$999 74 12.5
    $1,250-$1,499 56 9.4
    $1,500-$1,999 73 12.3
    Others 253 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 541 42.6
    Not in the labour force 373 29.3
    Employed, worked part-time 232 18.3
    Employed, away from work 71 5.6
    Unemployed, looking for work 54 4.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 160 19.0
    Professionals 168 19.9
    Technicians & trades workers 117 13.9
    Community & personal service workers 104 12.3
    Sales 99 11.7
    Others 195 23.1
    Occupation
    Census Count Percent(%)
    Pre-school 12 5.3
    Infants/Primary 88 39.1
    Secondary 46 20.4
    Technical or Further Educational Institution 30 13.3
    University or other Tertiary Institutions 45 20.0
    Others 4 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 901 61.8
    Flat, unit or apartment 375 25.7
    Semi-detached, row or terrace house, townhouse 165 11.3
    Caravan, cabin, houseboat 16 1.1
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 313 47.8
    Being purchased 180 27.5
    Fully owned 156 23.8
    Other tenure type 6 0.9
    Tenure Type
Census 2011, ABS
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