Palm Cove has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 1.13% to date .
If we look at median property appreciation over just the last three months, Palm Cove has given property investors a paper return of -8.61%. This puts Suburb as 850 on a list of fastest fasting appreciating suburbs in QLD
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.01% offered to property buyers. Sellers in Palm Cove itself are offering an average vendor discount of -6.54% to real estate investors.
On average over the past year, suburb has had 3.75 sales per month, which equates to 45 per year.
With the median price for a house in Palm Cove being $557500 and the advertised rent reaching $550 the gross rental yield for property investors calculates out to be 5.13%
Property value increases in Palm Cove have tracked lower than the QLD average of -0.57% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Palm Cove has fallen somewhat when compared to the 5 year average annual rate.
Property buyers and investors in Palm Cove 4879 should be seeing an average reduction in asking price of around -8.23% . This means that Palm Cove is holding prices well when compared to other suburbs in QLD.
At number 952 in a list of fastest selling suburbs, Palm Cove is in the bottom 30% of suburbs in Australia with an average of days on market 93.7813 for properties listed there.
Advertised rents are around the $345 mark per week – giving a return of 6.64% based on the median price in Suburb