Caboolture Property Market Update 2nd Half of 2021

In Q3 2021, Caboolture recorded a median house price of $450,000, and a median unit price of $235,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 21.8% for houses, however units softened by -11.3% respectively. Between Q3 2020 – Q3 2021 total sales slowed, by -5.9% for houses (to 128 sales) and by -17.0% for units (to 39 sales). Current market conditions indicate an undersupplied house market, as high price growth is accompanied with lower number of sales. First home buyers should take this opportunity to enter the unit market, as it has become more affordable.

Average vendor discounts between Q3 2020 and Q3 2021 have tightened to -2.1% for units and swung to a premium of 2.2% for houses. Market conditions in Caboolture have now shifted to favour sellers, where buyers are either willing to offer closer to the initial listing price or above it. Now is an ideal time for vendors to sell.

In September 2021, house rental yields in Caboolture were recorded at 4.2%. In the 12 months to Q3 2021, the median house rental price increased by 14.3% to reach $400 per week, further complemented with low average days on the market (16 days). This represents a healthy rental market in Caboolture, with investors benefitting from a highly demanded market.

4+ bedroom houses have provided investors with +12.0% rental growth annually, with a median rent of $420 per week.

Also in September 2021, Caboolture recorded a low vacancy rate of 0.5%, below that of Moreton Bay LGA (0.6%) and Brisbane Metro (1.4%). Vacancy rates in Caboolture remain at historical lows over the past 12 months, and well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 recovery conditions. There is a healthy rental demand and investors can be confident of a conducive investment environment in Caboolture.