Glenvale Real Estate Market Report - June 2024

Overview

The Glenvale real estate market has shown significant growth and dynamism over the past year. This report provides a comprehensive overview of the market trends, sales statistics, rental yields, and other relevant data for Glenvale, based on the detailed statistics provided by Princefinder.

Sales Statistics

Glenvale's housing market has experienced considerable growth in recent years. Here are some key statistics:

• 2023: Median sale price was $526,000 with 144 sales.
• 2024: Median sale price has risen to $610,250 with 34 sales recorded so far.

Historical Sales Data (Houses)

• 2006: Median Price $286,250 (90 sales)
• 2010: Median Price $350,000 (109 sales)
• 2015: Median Price $390,000 (105 sales)
• 2020: Median Price $370,000 (127 sales)
• 2022: Median Price $488,000 (165 sales)
• 2023: Median Price $526,000 (144 sales)
• 2024: Median Price $610,250 (34 sales)

Market Growth

• Suburb Growth: 8.3% increase in median sale price over the last two rolling 12-month periods.
• Current Median Sale Price: $541,500 based on 141 recorded house sales in the last 12 months (April 2023 - March 2024).

Rental Market

Glenvale's rental market is also strong, with a notable increase in median rental prices.

Rental Statistics

• Current Median Rent: $520 per week for houses.
• Rental Yield: 5.0% based on the current median house price of $541,500.

Rental Growth

• Number of Rentals: 165 house rentals recorded over the last 12 months (April 2023 - March 2024).
• Median Weekly Rents for Units: $420 per week with a rental yield of 5.3%.

Recently Sold Properties

Several properties in Glenvale have been sold recently, reflecting the robust demand in the area:

• Villa 210/500 South St: Sold for $760,000 in May 2024.
• 4 Dalrello Court: Sold for $540,000 in May 2024.
• 25 Balonne Drive: Sold for $590,000 in April 2024.
• 23 Whitefield Street: Sold for $620,000 in April 2024.

Key Insights

• Steady Growth: Glenvale has shown a consistent increase in both sales prices and rental yields, indicating a strong and resilient market.
• High Demand: The high number of recorded sales and rentals signifies strong demand in the area.
• Investment Potential: With a median rental yield of 5.0%, Glenvale remains an attractive option for property investors.

Conclusion

The Glenvale real estate market continues to perform well, with significant growth in median sale prices and rental yields. The suburb's steady increase in property values and robust demand make it a desirable location for both buyers and investors. For those looking to invest or buy property in Glenvale, the market outlook remains positive and promising.

For more detailed information or specific inquiries, please contact Tye Thies at Tomoro on 0408 249 666 or via email at tye@tomoro.com.au.

Presented by: Tye Thies | Tomoro | Phone: 0408 249 666 | Email: tye@tomoro.com.au

Based on data provided by Princefinder and the State of Queensland (Department of Natural Resources, Mines and Energy) June 2024.