At number 3285th in the list of Australian suburbs ordered by increase in median house value over the last year, Elliott Heads, 4670 is in the BOTTOM 20% with a property value increase of -4.81% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Elliott Heads,4670 has racked up an average of -4.81% over the period. This ranks it number 2601th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -6.71% to buyers in Elliott Heads at the moment, which is less than average for the rest of QLD.
Using the current median advertised rental of $295 and the average annual increase in value of a median property of 0.81%, investors should hope to achieve an overall return of 5.00%
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.