Coolangatta Property Market Update 2nd Half of 2021

In Q2 2021, Coolangatta recorded a median house price of $780,000, and a median unit price of $490,000. This represents annual (Q2 2020 – Q2 2021) median price growth of 16.4% for houses and 7.7% for units. Between Q2 2020 – Q2 2021 total sales in both markets have increased, by 53.1% for houses (to 2365 sales) and by 86.9% for units (to 3422 sales). This is a clear indication of increased consumer confidence, with real returns on investment as price growth is accompanied by higher transaction volumes. Now is an opportune time for vendors to transact, as demand is exceeding supply levels.

Average vendor discounts between Q2 2020 and Q2 2021 have swung to a premium of 2.0% for houses and tightened to -0.5% for units. The Coolangatta house market has shifted to favour vendors, where buyers must offer above the initial listing price. Now is the time for vendors to capitalise on their investments.

In June 2021, house rental yields in Coolangatta were recorded at 3.2%. In the 12 months to Q2 2021, the median house rental price increased by 16.6% to reach $618 per week, while average days on the market declined by -29.2% (to 17 days). These figures indicate a surge in investment returns, inviting astute investors to enter the market.

3 bedroom houses have provided investors with +18.0% rental growth annually, with a median rent of $590 per week.

Also in June 2021, Coolangatta recorded a vacancy rate of 0.3%, below that of Gold Coast Main (0.7%) and well below Tweed Shire LGA (0.8%). Vacancy rates in Coolangatta have continue to decline and remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, as the economy recovers from COVID-19. There is a sustainable healthy rental demand and investors can be confident of a conducive investment environment in Coolangatta.