Elliott Heads has had a quite poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -1.83% to date .
A 9.15% growth in median value for property investors in Elliott Heads,4670 puts this suburb at number 345th in terms of best performing suburbs in QLD
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 Elliott Heads, 4670. Typically our figures indicate that -8.84% is being offered, which puts this QLD suburb at 562th most discounted overall in Australia.
Property investors should expect to get $292.5 weekly from the median priced house in this suburb.
Information supplied by:
Median house price: $312,500
Stock on market: 117.2%
12-month growth: 12.5%
Elliott Heads highlights how the affordability of Queensland suburbs has enabled these areas to stave off declines in the face of excessive supply.
This suburb is an example of the oversupply issue observed in the regional market, with stock on market recording a 117% rise, according to Real Estate Investar. These properties are all detached houses, thus supporting the call to halt construction approvals until established homes can be occupied.
However, despite this staggering increase in supply, the average vacancy rate inched upward by only 0.23% over a 12-month period, suggesting that demand is adequate to cover the excess for most part. This may be ascribed to the low prices of homes, low interest rates and an increased grant, which could have spurred market activity especially among first-home buyers.
House prices soared by nearly 13%, as per CoreLogic, and the high rental yield of 4.5% could also be inviting investors into the market.