Laurieton Market Update 2 nd H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q3 2024, Laurieton* recorded a median house price of $799,000, and a median unit price of $595,000. This is an annual (Q3 2023 – Q3 2024) slight softening of -2.3% for median house price an a growth of 19.0% for median unit price. Comparing Q3 2023 – Q3 2024, sales increased by 14.7% for houses (to 86 sales in Q3 2024) and by (40.0% for units to 14 sales). This suggests high demand for both property types, thus now is an ideal time for home-owners to capitalise on their investments. A slightly softer median house price is due to higher interest rates, which creates a rare (and time-limited) opportunity for first home buyers.
CHANGE FROM LAST
YEAR
HALF YEAR
Laurieton is set to see approximately $245.7M of new projects commencing construction in the 2nd half of 2024. Industrial $235.0K Residential $24.8M
Infrastructure $1.2M
HOUSE SALE S HOUSE ME DIAN PRICE
Mixed-Use Projects $219.4M
HOUSE RE NTAL PRICE
UNIT SALE S
The main development 2024 in the Laurieton* area is the Lake Cathie Bonny Hills Village - Rainbow Beach (930 Lots/Village Centre/School $200.0M). This will improve liveability for residents, with new services.
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
Residential developments include
$ MARKET CONDITIONS MEDIAN PRICE Q3 2024
$799K
$595K
MEDIAN PRICE Q3 2024
$620
SALES
AVERAGE DAYS ON MARKET Q3 2024
93
51
HOUSE
U N I T
RENTALS
$550
•
Hampton Shores (31 dwellings).
•
Rainbow Beach Estate Lake Cathie Units (9 Units)
•
Glen Eden Estate (4 Units)
The incoming supply of ready-to-go developments over 2024 will continue to answer market demand, which may moderate price growth – especially for units. That said there is only a small number of new houses planned, which is not enough based on Q3 2024 sales.
AVERAGE DAYS ON MARKET Q3 2024
20
17
HOUSE
U N I T
48 Units/ Apartments
31 Dwellings
961 Lots