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1. Housing Market Trends
- Median House Value: The median house value in Buderim has seen a gradual increase, reaching $1,249,422 in July 2024. This represents a 14.5% increase from July 2023.
- Sales Activity: A total of 501 houses were sold in the past 12 months, with new listings reaching 566 during the same period. Houses in Buderim are generally on the market for 28.5 days on average.
- Price Quartiles: The upper quartile house price is $1,400,000, the median price is $1,175,000, and the lower quartile price is $932,500.
- Rental Market: The median asking rent for houses is $780 per week, reflecting a modest increase in rental prices with a 4.0% change in rental rate over the past year. The rental yield for houses stands at 3.8%.
2. Unit Market Trends
- Median Unit Value: The median unit value has increased to $694,412 in July 2024, up 15.0% from the previous year.
- Sales Activity: 200 units were sold over the past 12 months, with 148 new listings. Units are staying on the market for an average of 25.5 days.
- Price Quartiles: The upper quartile unit price is $696,250, the median price is $619,000, and the lower quartile price is $571,500.
- Rental Market: The median asking rent for units is $600 per week, with a notable 9.1% increase in the rental rate over the past year. The rental yield for units is higher at 4.8%.
3. Land Market Trends
- Sales Activity: The land market is less active, with only 10 properties sold in the past 12 months. The median land price is $850,000.
4. For Sale Statistics
- New Listings: The number of new house listings has increased steadily from 495 in August 2023 to 566 by July 2024. The number of units listed has remained relatively stable, with a slight increase from 152 to 148 during the same period.
- Total Properties Listed: The total number of houses listed for sale has increased to 627, while the number of units listed has decreased slightly to 162.
5. Change in Median Values
- Houses: The median house value increased by 14.5% from July 2023 to July 2024.
- Units: The median unit value saw a 15.0% increase over the same period.
6. Rental Yield
- Houses: The rental yield has slightly decreased from 4.0% in August 2023 to 3.8% in July 2024.
- Units: The rental yield for units has remained stable at 4.8% from August 2023 to July 2024.
Summary
The housing market in Buderim is experiencing robust growth, with both house and unit prices seeing significant year-over-year increases. The rental market remains strong, particularly for units, which are yielding higher returns. The market shows steady sales activity, although there is a slight increase in the number of listings, which may indicate a balanced market with healthy demand.
These trends suggest a positive outlook for the real estate market in Buderim, with rising property values and a strong rental market providing good opportunities for both investors and homeowners.
