Suburb Profile Report for Palm Cove QLD (4879)

Palm Cove House: Median price $525,000, Annual capital growth 1.34%, Number of sales 40, Weekly median advertised rent $475

Palm Cove Unit: Median price $283,000, Annual capital growth -3.80%, Number of sales 116, Weekly median advertised rent $328

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 4064th in the list of Australian suburbs ordered by increase in median house value over the last year, Palm Cove, 4879 is in the BOTTOM 10% with a property value increase of -16.13% recorded in median house prices.

Over the longer term, Palm Cove has seen property prices show investors a -6.25% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Palm Cove is giving property investors an average Vendor Discount of around -6.80%. This puts suburb at number 359th in QLD when ranking the most discounted suburbs.

QLD has seen average median house prices change by 0.66% which means that Palm Cove, 4879 has done well for property investors by showing a capital gain of -5.67% over the last year

Palm Cove,4879 was ranked 1022 in Australia by increase in median property value over the quarter.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.08% offered to property buyers. Sellers in Palm Cove itself are offering an average vendor discount of -8.67% to real estate investors.

On average over the past year, suburb has had 9.67 sales per month, which equates to 116 per year.

Palm Cove, 4879’s gross rental yield is 6.02%

Metrics i HOUSE UNIT
$525,000 $283,000
-5.23% 0.00%
-16.13% -5.67%
1.34% -3.80%
$475 $328
40 116
4.70% 6.02%
94.07 155.29

Source: CoreLogic

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