THE Redlands property market has shown notable activity and growth over the past month across various suburbs.
Last month, Redland Bay had 65 properties available for rent and 142 for sale. The median property prices over the last year were $880,000 for houses and $677,500 for units. Houses in Redland Bay rent for about $650 per week, offering a 4.3% annual rental yield, while units rent for $445 per week with a 4.0% yield.
The area has experienced a 5.1% annual growth rate for houses and an impressive 16.8% for units.
- Capalaba had 44 properties for rent and 76 for sale last month. Median prices were $820,750 for houses and $528,750 for units. Houses rented at $635 per week, yielding 4.2%, and units at $500 per week, yielding 5.0%. The suburb saw a robust 10.8% annual growth for houses and 9.0% for units.
- In Alexandra Hills, there were 38 properties for rent and 53 for sale. The median price for houses was $783,500, while units were $520,000. Rental yields stood at 4.4% for houses (renting at $630 per week) and 5.1% for units (renting at $450 per week). The annual growth rates were 9.6% for houses and a remarkable 20.9% for units.
- Thornlands saw 54 rental properties and 96 properties for sale last month. Median prices were $900,000 for houses and $608,000 for units. Houses in Thornlands rented for $660 per week with a 4.3% yield, and units for $577 per week with a 5.5% yield. The annual growth rates were 5.3% for houses and 16.9% for units.
- Ormiston had 22 properties for rent and 56 for sale. Median prices were significantly higher at $1,265,000 for houses and $599,000 for units. Houses rented for $720 per week, yielding 3.8%, and units for $680 per week, yielding 4.6%. Annual growth rates were 12.4% for houses and 8.5% for units.
- Birkdale had 38 properties for rent and 55 for sale. Median prices were $910,000 for houses and $605,000 for units. Rental yields were 4.1% for houses (renting at $680 per week) and 4.7% for units (renting at $575 per week). The annual growth rates were 5.8% for houses and 12.0% for units.
- Victoria Point had 46 properties for rent and 96 for sale last month. Median prices were $856,000 for houses and $575,000 for units. Houses rented at $650 per week with a 4.1% yield, and units at $510 per week with a 4.7% yield. The annual growth rates were 8.4% for houses and 15.9% for units.
- Wellington Point had 28 properties for rent and 52 for sale last month. Median prices were $1,095,000 for houses and $610,000 for units. Houses rented at $737 per week with a 3.9% yield, and units at $550 per week with a 4.5% yield. The annual growth rates were 16.5% for houses and 8.9% for units.
The property markets across the Redlands islands are summarised, starting with Lamb Island with a median house price of $351,000. Houses on Lamb Island rent for $335 per week, yielding 5.4% annually despite a -3.0% growth rate.
- Coochiemudlo Island median house prices stand at $515,000, with rental yields of 4.5% from houses fetching $480 weekly, and a healthy growth rate of 3.8%.
- Macleay Island houses priced at $400,000 yield $380 weekly, offering a stable 4.7% rental return with a growth rate stable at 0.0%.
- Russell Island enjoyed a median house price of $373,500, with houses renting at $390 weekly, yielding 5.4% annually and boasting an impressive growth rate of 15.6%.
Investors might find attractive opportunities, particularly in suburbs like Thornlands and Alexandra Hills, where units show exceptional annual growth rates.
