Coolangatta Property Market Update 1st Half of 2022

In Q4 2021, Coolangatta recorded a median house price of $930,000, and a median unit price of $575,000. This represents annual (Q4 2020 – Q4 2021) median price growth of 27.4% for houses and 14.7% for units. Between Q4 2020 – Q4 2021 total sales in both markets slowed, by -3.7% for houses (to 2505 sales) and by -7.9% for units (to 3375 sales). Current owner occupiers and down-sizers can benefit from real returns on capital investment, as median price growth has been fuelled by an imbalance in high demand and low stock levels. The market is undersupplied, in need for ready-to-sell stock.

Average vendor discounts between Q4 2020 and Q4 2021 have swung to a premium for property types, to +3.8% for houses and +1.9% for unit, the highest average premium recorded in the past 2 years. Market conditions in Coolangatta continue to favour vendors, where buyers must offer above the initial listing price.

In December 2021, house rental yields in Coolangatta were recorded at 2.3%. This may seem low, however in the past 12 months to Q4 2021 median house sale price growth, of 27.4%, have outpaced that of median house rental price growth (23.6%). That said median house rental price for Q4 2021 sits at $680 per week, with a low average day to let of 19 days: thus, indicating a resilient rental market.

4+ bedroom houses have provided investors with +22.3% rental growth annually, with a median rent of $685 per week.

Also in December 2021, Coolangatta recorded a vacancy rate of 0.5%, generally on par with Gold Coast LGA (0.6%) and Tweed Shire LGA (0.6%). Vacancy rates in Coolangatta remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0% and have trended below 1.0% for the past 17 months. This confirms there is still a healthy rental demand and investors can be confident of a conducive investment environment in Coolangatta.