Suburb Profile Report for Palm Cove QLD (4879)

Palm Cove House: Median price $581,000, Annual capital growth 1.03%, Number of sales 48, Weekly median advertised rent $560

Palm Cove Unit: Median price $265,000, Annual capital growth -2.25%, Number of sales 82, Weekly median advertised rent $350

  • 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.

  • House Report
  • Unit Report

Palm Cove is an average performer in QLD when comparing median price capital growth over the last year. Palm Cove gave property investors a average capital gain figure when compared to the rest of the state, with 1.71%.

Taking the average capital gain, or increase in median house value, Palm Cove,4879 has racked up an average of 1.71% over the period. This ranks it number 2370th in the whole country for real estate investors looking at median house price increases.

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 Palm Cove, 4879. Typically our figures indicate that -5.36% is being offered, which puts this QLD suburb at 2197th most discounted overall in Australia.

Often selling an investment property can take time, and in Palm Cove the average time real estate has been on the market is 90.2368 days.

Palm Cove has had a very poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -16.21% to date .

Across a shorter period, Palm Cove, 4879 has seen a median price increase of -0.75% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Palm Cove is offering property investors an average of -6.19. This rate of discount on properties puts Suburb at number 17th in terms of most discounted suburbs in QLD

Renters in Suburb are facing rents around $18200 per annum or $350 every week.

Metrics i HOUSE UNIT
$581,000 $265,000
0.00% -0.75%
1.71% -16.21%
1.03% -2.25%
$560 $350
48 82
5.01% 6.87%
90.2368421052632 126

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 : Balanced (U), Below average (H)
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Demographics
Total population 1656
Median household income ($/weekly) 1051
Median age of persons 45
Median housing loan repayment ($/monthly) 1842
Average household size 2.1
  • Census Count Percent(%)
    25-34 years 185 11.2
    35-44 years 282 17.0
    45-54 years 286 17.3
    55-64 years 296 17.9
    65-74 years 183 11.0
    Others 425 25.6
    Age Group
    Census Count Percent(%)
    Registered Married 616 52.6
    Not Married 408 34.8
    Defacto Relationship 148 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 969 65.8
    Greece 21 1.4
    Papua New Guinea 82 5.6
    United Kingdom 210 14.3
    Other 59 4.0
    Others 132 9.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 34 2.4
    Christianity 930 65.1
    Islam 11 0.8
    Judaism 6 0.4
    No Religion 442 30.9
    Others 6 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 56 9.4
    $600-$799 81 13.7
    $800-$999 74 12.5
    $1,250-$1,499 56 9.4
    $1,500-$1,999 73 12.3
    Others 253 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 541 42.6
    Not in the labour force 373 29.3
    Employed, worked part-time 232 18.3
    Employed, away from work 71 5.6
    Unemployed, looking for work 54 4.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 160 19.0
    Professionals 168 19.9
    Technicians & trades workers 117 13.9
    Community & personal service workers 104 12.3
    Sales 99 11.7
    Others 195 23.1
    Occupation
    Census Count Percent(%)
    Pre-school 12 5.3
    Infants/Primary 88 39.1
    Secondary 46 20.4
    Technical or Further Educational Institution 30 13.3
    University or other Tertiary Institutions 45 20.0
    Others 4 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 901 61.8
    Flat, unit or apartment 375 25.7
    Semi-detached, row or terrace house, townhouse 165 11.3
    Caravan, cabin, houseboat 16 1.1
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 313 47.8
    Being purchased 180 27.5
    Fully owned 156 23.8
    Other tenure type 6 0.9
    Tenure Type
Census 2011, ABS
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