Suburb Profile Report for Carrara QLD (4211)

Carrara House: Median price $610,000, Annual capital growth 3.12%, Number of sales 167, Weekly median advertised rent $598

Carrara Unit: Median price $422,500, Annual capital growth 0.56%, Number of sales 174, Weekly median advertised rent $498

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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Giving property investors a an average capital gain of -0.41% for the last year, Carrara, 4211 is the 2226th highest performer in Australia in this respect.

A 30.62% growth in median value for property investors in Carrara,4211 puts this suburb at number 595th in terms of best performing suburbs in QLD

Sellers are offering property buyers an average discount of -4.38% to buyers in Carrara at the moment, which is less than average for the rest of QLD.

With the median price for a house in Carrara being $610000 and the advertised rent reaching $597.5 the gross rental yield for property investors calculates out to be 5.09%

Carrara, 4211 ranked 130th in QLD when comparing growth in median property values or capital gain over the last 12 months. Carrara is one of 2415 in our list for QLD

Across a shorter period, Carrara, 4211 has seen a median price increase of -1.29% 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 -6.19% offered to property buyers. Sellers in Carrara itself are offering an average vendor discount of -5.55% to real estate investors.

On average over the past year, suburb has had 14.50 sales per month, which equates to 174 per year.

A $497.5 per week rent on the median house gives suburb investors a gross yield of circa 6.12%, without taking into account capital value appreciation, which has been averaging out at 0.56%.

YIP MAG Information supplied by:

YIP MAG
May 2016

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Pulling in the highest population growth figures in Queensland, the Gold Coast is increasingly drawing more buyers from the overpriced southern capitals, who find property values comparatively inexpensive.

Carrara, centrally located 15 minutes from the Southport CBD and popular dining and entertainment hotspots Surfers Paradise and Broadbeach, is one such suburb boasting a low median house price of $499,500 for its large blocks, leafy streets and luxury living.

New waterfront villas on the Nerang River are fetching half a million, while older-style detached homes on generous riverfront blocks are on the market for $850,000.

Units and townhouses away from the water are averaging above $300,000, many with potential for quick rejuvenation.

Carrara’s performance to date has been steady, achieving 12-month growth of 7.3% to January 2015 and a high rental return of 5.5% for houses and 6.3% for units.

It ranks 15th in Queensland on Real Estate Investar’s lowest vacancy rate list, at 1.14%, which tightened from 3% in January a year earlier.

While Carrara is convenient for access to the M1, which offers a direct route to Brisbane in an hour, or south to the NSW border in 30 minutes, properties located around Michelmore Drive bear the brunt of the road noise.

Properties east of Papas Way are in excellent proximity to amenities, quality schools and major roads, while avoiding the associated noise.
Metrics i HOUSE UNIT
$610,000 $422,500
-0.41% -1.29%
-0.41% 1.81%
3.12% 0.56%
$598 $498
167 174
5.09% 6.12%
54.618320610687 89.635593220339

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 11568
Median household income ($/weekly) 1196
Median age of persons 38
Median housing loan repayment ($/monthly) 1950
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1357 11.7
    25-34 years 1596 13.8
    35-44 years 1640 14.2
    45-54 years 1695 14.6
    55-64 years 1490 12.9
    Others 3793 32.8
    Age Group
    Census Count Percent(%)
    Registered Married 4138 47.4
    Not Married 3620 41.5
    Defacto Relationship 972 11.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 7636 70.3
    Papua New Guinea 1101 10.1
    South Africa 154 1.4
    United Kingdom 724 6.7
    Other 395 3.6
    Others 859 7.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 174 1.7
    Christianity 7641 73.0
    Islam 58 0.6
    Other Religious Groups 49 0.5
    No Religion 2478 23.7
    Others 66 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 442 11.1
    $600-$799 418 10.5
    $1,250-$1,499 395 10.0
    $1,500-$1,999 571 14.4
    $2,000-$2,499 394 9.9
    Others 1748 44.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3507 39.3
    Not in the labour force 2737 30.7
    Employed, worked part-time 1932 21.6
    Unemployed, looking for work 434 4.9
    Employed, away from work 316 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 700 12.2
    Professionals 941 16.4
    Technicians & trades workers 849 14.8
    Clerical & administrative workers 874 15.2
    Sales 771 13.4
    Others 1617 28.1
    Occupation
    Census Count Percent(%)
    Pre-school 164 7.0
    Infants/Primary 892 37.9
    Secondary 614 26.1
    Technical or Further Educational Institution 207 8.8
    University or other Tertiary Institutions 400 17.0
    Others 76 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7174 65.6
    Semi-detached, row or terrace house, townhouse 2835 25.9
    Caravan, cabin, houseboat 509 4.7
    Flat, unit or apartment 412 3.8
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1739 40.3
    Rented 1399 32.5
    Fully owned 1158 26.9
    Other tenure type 14 0.3
    Tenure Type
Census 2011, ABS
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