Suburb Profile Report for Palm Cove QLD (4879)

Palm Cove House: Median price $557,500, Annual capital growth 1.00%, Number of sales 45, Weekly median advertised rent $550

Palm Cove Unit: Median price $270,000, Annual capital growth -2.28%, Number of sales 84, Weekly median advertised rent $345

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

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

Metrics i HOUSE UNIT
$557,500 $270,000
-8.61% 2.27%
1.13% -14.62%
1.00% -2.28%
$550 $345
45 84
5.13% 6.64%
98.5588235294118 93.78125

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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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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