Caboolture Property Market Update 1st Half of 2021

In Q1 2021, Caboolture recorded a median house price of $400,000, and a median unit price of $290,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 15.1% for houses and a significant 31.8% growth for units. Between Q1 2020 – Q1 2021 total sales increased, by 45.4% for houses (to 157 sales) and by 40.6% for units (to 45 sales). Median price growth alongside increased sales suggests real returns on capital investment in Caboolture. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.

Average vendor discounts between Q1 2020 and Q1 2021 have swung to a premium for both property types, of 0.8% for houses and 1.1% for units. The market has shifted towards a seller’s market as buyers are willing to offer closer to the first asking price. This makes it a perfect opportunity for vendors to sell their home.

In March 2021, house rental yields in Caboolture were recorded at a healthy 4.3%. In the 12 months to Q1 2021, the median house rental price increased by 5.7% to $370 per week, with average days on the market declining by -33.6% (to 16 days). This places Caboolture as a strong rental market, with room for more investors.

3 bedroom houses have provided investors with +3.1% rental growth annually, with a median rent of $330 per week.

Also in March 2021, Caboolture recorded a significantly low vacancy rate of 0.6%, which is below Moreton Bay LGA (0.7%) and well below that of Brisbane Metro (1.5%). Vacancy rates in Caboolture remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0% and have trended downwards since April 2020, even throughout COVID-19. There is still an influx of rental demand in the area, creating a highly conducive investment market for investors.