Burleigh Heads Property Market Update 1st Half of 2022

In Q4 2021, Burleigh Heads recorded a median house price of $1,450,000, and a median unit price of $812,000. This represents annual (Q4 2020 – Q4 2021) median price growth of 45.0% for houses and 30.6% for units. Between Q4 2020 – Q4 2021 total sales in both markets slowed, down by -3.7% for houses (to 211 sales) and by -40.6% for units (to 247 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 tightened for both property types, to +0.7% for houses and +2.2% for units, the highest average premium for units in the past 2 years. Market conditions in Burleigh Heads continue to favour vendors, where buyers are offering above initial listing price.

In December 2021, house rental yields in Burleigh Heads were recorded at 2.8%. This may seem low, however in the past 12 months to Q4 2021 median house sale price growth, of 45.0%, have outstripped that of median house rental price growth (21.4%). That said median house rental price for Q4 2021 sits at $850 per week, with a low average day to let of low 20 days; thus indicating a resilient rental market.

3 bedroom houses have provided investors with +15.4% rental growth annually, with a median rent of $750 per week.

Also in December 2021, Burleigh Heads recorded a vacancy rate of 0.8%, slightly above that of Gold Coast LGA (0.6%) but well below that of Brisbane Metro (1.3%). Vacancy rates in Burleigh Heads remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0% and have trended below 1.0% for the past 12 months. This confirms there is still a healthy rental demand and investors can be confident of a conducive investment environment in Burleigh Heads.