Blues win ‘property’ State of Origin
While the Blues will look to turn the tables on the Maroons in the State of Origin footy series tomorrow night, they have already secured the interstate property series, according to a comparison of key real estate metrics by LJ Hooker.
Over the past 12 months, the rise in New South Wales property prices, led by breakaway growth in Sydney, has been a clear winner for homeowners 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 is 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 Blues 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 per cent 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 $1.65 billion of property changing hands.
Vaucluse landlords have also been sitting pretty, commanding on average $1,825 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.
But Queensland claims bragging rights for affordability, with Cunnamulla recording the lowest median property price ($53,500), while investors in Mission Beach are treated to an average yield of 26 per cent.
The resurgent Gold Coast development industry has released a significant amount of stock leading up to the 2018 Commonwealth Games. Surfers Paradise is the suburb with the most dwellings for sale over the last 12 months (2,237) and has also sold the most amount of stock (1,703).
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