Southport Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Southport* had a median house price of $1,076,000 and a median unit price of $676,500. This represents an annual (Q4 2023 - Q4 2024) growth of 1.5% for houses and 14.4% for units. Units saw a higher price growth than houses, due to buyers switching their focus to units; as there is low house stock available. Comparing Q4 2023 and Q4 2024, total sales declined by -8.8% to (83 sales) for houses and -12.7% (to 426 sales) for units. This confirms an undersupplied market in Southport*, which created a buffer against higher interest rates. On a half-year basis (Q2 2024-Q4 2024), median house and unit price saw a temporary dip, which creates a brief window of opportunity for buyers.
CHANGE FROM LAST
YEAR
Southport£ will see approximately $861.1M of new projects commencing construction in 2025.
Residential
$135.5M
HALF YEAR
Commercial
$117.1M
Industrial
$5.8M
Mixed-Use
$165.5M
HOUSE SALE S
Infrastructure
$437.2M
HOUSE ME DIAN PRICE HOUSE RE NTAL PRICE
A key infrastructure project planned for 2025 is the Southport Supportive Housing Project. This will construct a supportive housing development for approximately 200 accommodation units with communal areas, which targets social and affordable housing.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
Key residential projects include: •
Marine Quarter Stage 2 - Scenic Tower (158 Apartments)
•
14-22 Meron Street (69 Units)
MARKET CONDITIONS
•
11-17 Spendelove Avenue Terrace Houses (29 Terrace Houses)
SALES
•
86 Pohlman Street Townhouses (10 Townhouses)
$ MEDIAN PRICE Q4 2024
$1.0M
$676K
MEDIAN PRICE Q4 2024
$675
AVERAGE DAYS ON MARKET Q4 2024
49
42
HOUSE
U N I T
RENTALS
$650
AVERAGE DAYS ON MARKET Q4 2024
22
19
HOUSE
U N I T
Despite several residential projects planned in Southport, they will only add new units/apartments and townhouses. At present, there are no new stand-alone dwellings in the 2025 development pipeline. An absence of new dwellings will exacerbate the current undersupply, highly likely pushing both median house and unit prices higher.
480 Units/ Apartments
61 Townhouses