L a b r a d o r M a r k e t U p d a t e • 2 nd H a l f 2 0 2 4 In Q3 2024, Labrador* recorded a median house price of $1,000,000, and a median unit price of $690,000. This is an annual (Q3 2023 – Q3 2024) growth of 11.1% for houses and 19.5% for units. Comparing Q3 2023 vs Q3 2024, total sales declined by -18.5% for houses (at 22 sales in Q3 2024), but increased by 18.7% for units (to 165 sales in Q3 2024). This suggests an undersupplied house market and a highly-demanded unit market, thus now is an ideal time for owners to sell and capitalize on their investments. The dominant proportion sold in 2024* were in the premium price bracket of above $1.15M for houses (38.5%) and middle price range between $650,000 to $749,999 for units (32.6%). The most affordable price brackets are available, with 9.6% for houses and 16.2% for units, in good news for first home buyers.
CHANGE FROM LAST
YEAR
MEDIAN SALES PRICE Q3 2024
HALF YEAR
HOUSE SALE S HOUSE ME DIAN PRICE
HOUSE RENTAL PRICE
$1.0M
$690K
UNIT SALE S
MEDIAN RENTAL PRICE Q3 2024
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$
$750
$650
PRICE BREAKDOWN 2024^ UNITS SOLD
HOUSES SOLD 9.6% 38.5%
25.0%
16.2%
17.9%
Less than $849,999 $850,000 to $949,999 $950,000 to $1,049,999
$550,000 to $649,999
13.5%
19.9%
$1,050,000 to $1,149,999
15.4%
11.5%
Less than $549,999 $650,000 to $749,999 $750,000 to $849,999
$1,150,000 and above
$850,000 and above
32.6%
MARKET COMPARISON
Labrador (4215) House Labrador (4215) Unit
Gold Coast City (LGA) House Gold Coast City (LGA) Unit
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 2020
2021
2022
2023
2024#
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