Suburb Profile Report for Molendinar QLD (4214)

Molendinar House: Median price $592,500, Annual capital growth 2.43%, Number of sales 81, Weekly median advertised rent $590

Molendinar Unit: Median price $356,250, Annual capital growth 0.97%, Number of sales 22, Weekly median advertised rent $390

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

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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At number 2519th in the list of Australian suburbs ordered by increase in median house value over the last year, Molendinar, 4214 is in the BOTTOM 50% with a property value increase of -0.42% recorded in median house prices.

Molendinar,4214 has offered an average of -0.42% return per annum in house price rises to property investors over the last three years.

Our latest figures would indicate that property sellers in Molendinar are currently offering property investors an average price cut of -5.21% below the asking price at the moment.

Situated 65.39km from the CBD, Molendinar is one of Gold Coast (C) localities in the postcode 4214.

Giving property investors a a solid capital gain of 10.15% for the last year, Molendinar, 4214 is the 247th highest performer in Australia in this respect.

A 9.78% growth in median value for property investors in Molendinar,4214 puts this suburb at number 73th in terms of best performing suburbs in QLD

Molendinar, 4214 is offering QLD ‘s 234th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this QLD.

Often selling an investment property can take time, and in Molendinar the average time real estate has been on the market is 93.1 days.

Information supplied by:


February 2018

M
O

W
E

High yield and affordability spur interest

Postcode: 4214

Median unit price: $310,000

Three-year growth: 8.8%

Rental yield: 7.0%

Nicknamed “Silver Bridle,” the suburb of Molendinar on the Gold Coast is struggling to sustain growth in its unit market.

Molendinar recorded some growth over the most recent five-year period, with the price hike peaking at 8.8% three years previously. However, values fell again by 2.2% in the 12 months leading up to November 2017.

Nonetheless, the affordability of apartments here (at a median price of $310,000) is coupled with a very high average rental yield of 7%. Thus, demand is enough that vendors can sell properties at an average discount rate of just 3.7%.

The suburb is in close proximity to Griffith Hospital and Griffith University. It is also near shops like a supermarket and Bunnings. The beach is just about 15 minutes away.

Metrics i HOUSE UNIT
$592,500 $356,250
0.21% 11.33%
0.85% 23.27%
2.43% 0.97%
$590 $390
81 22
5.18% 5.69%
66.73333 N/A

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 6213
Median household income ($/weekly) 1278
Median age of persons 35
Median housing loan repayment ($/monthly) 1950
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 907 14.6
    25-34 years 801 12.9
    35-44 years 972 15.6
    45-54 years 925 14.9
    55-64 years 667 10.7
    Others 1942 31.3
    Age Group
    Census Count Percent(%)
    Registered Married 2068 46.0
    Not Married 1997 44.4
    Defacto Relationship 429 9.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3781 64.9
    Croatia 146 2.5
    Papua New Guinea 553 9.5
    United Kingdom 293 5.0
    Other 271 4.6
    Others 784 13.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 169 3.0
    Christianity 3858 68.6
    Hinduism 100 1.8
    Islam 93 1.7
    No Religion 1337 23.8
    Others 63 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 176 9.8
    $800-$999 173 9.6
    $1,250-$1,499 184 10.2
    $1,500-$1,999 251 13.9
    $2,000-$2,499 200 11.1
    Others 816 45.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1763 38.2
    Not in the labour force 1442 31.2
    Employed, worked part-time 996 21.6
    Unemployed, looking for work 280 6.1
    Employed, away from work 135 2.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 493 17.0
    Technicians & trades workers 453 15.6
    Clerical & administrative workers 399 13.8
    Sales 402 13.9
    Labourers 341 11.8
    Others 808 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 89 5.5
    Infants/Primary 570 35.0
    Secondary 437 26.9
    Technical or Further Educational Institution 140 8.6
    University or other Tertiary Institutions 347 21.3
    Others 44 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5257 89.8
    Semi-detached, row or terrace house, townhouse 509 8.7
    Flat, unit or apartment 91 1.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 842 42.7
    Rented 735 37.3
    Fully owned 388 19.7
    Other tenure type 8 0.4
    Tenure Type
Census 2011, ABS
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