Caboolture Market Update 2 nd H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q3 2024, Caboolture* recorded a median house price of $705,000 and a median unit price of $537,500. This represents annual (Q3 2023 – Q3 2024) median price growth of 12.8% for houses and 13.9% for units. This confirms an ideal time for owners to capitalize on their investments. Comparing Q3 2023 and Q3 2024, total sales decreased by -30.9% for houses (to 105 sales) and -46.3% for units (to 36 sales), highlighting a clear undersupply for both property types, which provides a buffer against current cash rate hikes. With no stand-alone houses planned in the next two years, buyers need to act fast before prices rise further.
CHANGE FROM LAST
YEAR
Caboolture* will see approximately $101.9M of new projects commencing construction in 2024 and 2025. Commercial
$12.5M
HALF YEAR
Residential
$48.4M
HOUSE SALE S
Infrastructure
$36.9M
HOUSE ME DIAN PRICE HOUSE RE NTAL PRICE
Mixed-Use
$4.1M
A main residential project in 2024 and 2025 is 53 & 59 Goshawk Court & Pumicestone Road Stages 1 & 2 ($25.0M). This 2-stage project is set to construct 78 townhouses.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
Other residential projects include:
$ MARKET CONDITIONS MEDIAN PRICE Q3 2024
$705K
SALES
$537K
MEDIAN PRICE Q3 2024
AVERAGE DAYS ON MARKET Q3 2024
31
58
HOUSE
U N I T
RENTALS
•
45-49 Manley Street (62 units)
•
319 Markwell Road Residential Subdivision (28 lots)
•
118 Elof Road Residential Subdivision (21 lots)
New units and townhouses answers some of the demand, however this is not enough. Land lots will take time to develop into houses. The absence of stand-alone houses in the pipeline suggests that current undersupply is set to intensify, which will drive prices even higher.
AVERAGE DAYS ON MARKET Q3 2024 62 Units/ Apartments
$578
$430
20
24
HOUSE
U N I T
80 Townhouses
49 Lots