Blues claim Real Estate of Origin
While New South Wales will look to turn the tables on Queensland’s State of Origin reign tomorrow night, the hosts have already clinched the interstate property match-up.
A comparison of key real estate metrics by LJ Hooker over the past 12 months shows the rise in New South Wales property prices – led by breakaway growth in Sydney – has been a winner for home owners and landlords south of the Tweed River.
While the Blues will be looking to record only their second series victory in a decade at ANZ Stadium tomorrow night, the real estate market has been another story, said LJ Hooker’s Head of Research, Mathew Tiller.
“I think the Blues’ selectors would have loved to see their players performing as well as the properties in their home town over the past seasons,” he said.
“Appropriately for NSW, the get the chance to clinch the series at ANZ Stadium in Homebush. Over the last five years, Homebush has provided a ‘Man of the Match’ performance for property owners, offering a 160% return – the largest of the two states.”
Sydney’s prestige market has been red hot over the last 12 months, with the exclusive enclave of Mosman recording more than $1.65bn of property changing hands.
Vaucluse landlords have also been sitting pretty, commanding, on average, $1825 per week for their investments.
“That’s about three times what you would pay per week for a house in Bulimba, which is Brisbane’s most expensive inner-city waterfront address for tenants,” said Mr Tiller.
Queensland claimed bragging rights for affordability, with Cunnamulla recording the lowest median property price ($53,500), while investors in Mission Beach were treated to an average yield of 26%.
The resurgent Gold Coast development industry has released a significant amount of stock leading up to the 2018 Commonwealth Games. Surfers Paradise was the suburb with the most dwellings for sale over the last 12 months (2,237) and also sold the most amount of stock (1,703).
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