Suburb Profile Report for Palm Cove QLD (4879)

Palm Cove House: Median price $564,000, Annual capital growth 2.34%, Number of sales 39, Weekly median advertised rent $460

Palm Cove Unit: Median price $283,000, Annual capital growth -4.26%, Number of sales 110, Weekly median advertised rent $320

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Palm Cove has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -13.89%

Palm Cove,4879 was ranked 1525 in Australia by increase in median property value over the quarter.

Our latest figures would indicate that property sellers in Palm Cove are currently offering property investors an average price cut of -7.64% below the asking price at the moment.

On average over the past year, suburb has had 3.25 sales per month, which equates to 39 per year.

A $460 per week rent on the median house gives suburb investors a gross yield of circa 4.24%, without taking into account capital value appreciation, which has been averaging out at 2.34%.

Palm Cove, 4879 ranked 152th in QLD when comparing growth in median property values or capital gain over the last 12 months. Palm Cove is one of 2415 in our list for QLD

The five-year average increase in median property values for Palm Cove,4879 has given property investors a potential capital gain of 13.20% across each of those five years.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Palm Cove, 4879. Typically our figures indicate that -8.52% is being offered, which puts this QLD suburb at 142th most discounted overall in Australia.

Situated 1408.59km from the CBD, Palm Cove is one of Cairns localities in the postcode 4879.

Metrics i HOUSE UNIT
$564,000 $283,000
2.55% 2.54%
-13.89% 1.98%
2.34% -4.26%
$460 $320
39 110
4.24% 5.88%
94.25 165.28

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (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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