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When it comes to real estate in Beenleigh and Eagleby, there’s one name you need to know: Benjamin Waite. As a trusted expert with deep local knowledge, proven results, and a passion for helping clients succeed, Benjamin is the go-to agent for sellers, buyers, and investors in the region. Worth the Waite is more than just a podcast—it’s your insider guide to Beenleigh's property markey, offering valuable insights and strategies designed to position you for success in the property market.
From understanding local trends to maximising your property’s value, each episode equips you with the tools and knowledge you need to make confident Real Estate decisions. With a friendly yet professional approach, Benjamin shares real-world advice, stories, and tips, making complex real estate topics accessible and actionable. Whether you’re planning your next move or simply want to stay informed, tune in weekly and discover why working with Benjamin is always Worth the Waite!
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Looking to stay ahead in the Beanley and Eagleby property market? Want to get local insights from someone who knows his community inside and out, then you've come to the right place. I'm Benjamin Waite and welcome to Worth the Waite, Beanley and Eagleby's local property podcast where we'll be diving into everything you need to know about real estate right here in our beautiful region.
Hey, Benjamin Wade here from L. J. Hooker, Ben Lee. Time for my first market update. Well, it's not my first, but at the time, this is November, December. Market has moved a lot. We're at a really interesting inflection point in the market. So the first nine months of this year, we've had some really, really strong growth in that unit townhouse space.
Like anything strata, really. And basically because that's just more affordable. A lot of people are pouring in. So the housing, stock or detached housing. It was quite, it was a bit of a plateau throughout the year, but I kind of see that now we're at that three bedroom townhouse. You can kind of almost pay the same as what you can get an entry level house for.
We kind of see the demand shift from the unit and townhouse space over to the housing space because ultimately, you know, people want a house. They want their own backyard and that's what the dream is. But, if you can't afford that for whatever reason, then you're going to have to look for the next best option, which is that unit townhouse space.
So you can't blame everybody for maybe moving their attention over. First time buyer grants have obviously shifted up to the 700, 000 to 750, 000 mark. So that's also given a bit of impetus to that, to that housing, that housing, you know, pickup as well. So going forward. I foresee a little bit more demand in the house stock and a plateau in that unit townhouse space.
So if you're in that space and you've got selling on your horizon, I reckon now's a pretty good time. But ultimately the market is still pretty strong. Vacancy rates for that Beenleigh Eagleby or the 4207 postcode. are still sitting at sub 1%, you know, I think that 9%, which is still really, really strong.
Rental market is still not as tight as what it was maybe 12 months ago. Reason being is that in those new areas like Yarra Bilba, Logan Reserve, Logan Village, Park Ridge, all that, those kind of areas, a lot of new stock has now been, been delivered. A lot of that was, through the COVID period where a lot of land was released.
building, concessions were provided to be able to get some stock into the market. They're all now getting completed and delivered. So there's a little bit more choice for tenants. So that's kind of where, the rental market demand has kind of pulled back slightly, but it's still really strong.
We're still getting quite good yields. Yields have come back as a little bit as well. And again, the reason for that is that as property prices increase, they're more dynamic than what rental prices are, because you kind of lock in a rental price for 12 months, and property prices will continue to, to, to creep up, while those rental prices are held for 12 months, because you can only, you know, increase every 12 months, which is some new rules that have come in.
So, Rental demands for units are kind of sitting at around that mid 5%. Housing stocks kind of sitting at, you know, it's even sub 4 percent in some areas. So, ultimately if you're an investor looking for like cashflow and like strong yield, the market is not. there for you right now. And I think what you need to probably look at is the long term yield because as prop as, capital growth will obviously increase, but you're buying at a price today.
Rental market will continue to increase. Immigration, you know, I think that Depending on where you read, we kind of had about 500, 000 people moved to Australia last year. I think we only delivered like 140 or 150, 000 homes. You know, or that's probably, approvals, building approvals. So, and those stats can vary depending on where you pull them from.
But, you know, it kind of gives you a bit of an idea. There's still quite a bit of shortfall here. So I think rental prices will continue to increase as years go on, especially with, with CPI. So, I think when assessing The yield of an investment property, you need to kind of look a little bit more long term rather than what it is today.
Otherwise you probably just won't buy anything and I think it's important to still get in the market. I think, listings at the moment as well, listings are still 18 percent down year on year. So the market is still pretty tight. We've still got more buyers than there are listings, which again is, is providing still, a slightly seller's market, but, but I think buyers are holding onto their wallets a little bit tighter.
I think people are kind of waiting and watching a little bit, seeing what the interest rates are doing. So all of those factors are at play at the moment. And again, we're kind of talking like this late November, early December period, and obviously we've got Christmas coming up as well. But I think Ultimately, it's a pretty strong market.
We're still seeing really strong foot traffic through open homes. We're seeing good negotiation. We're seeing buyers are, buyers are trying to, you know, they're trying to be a little bit more negotiable, but ultimately they're still a little bit more on the price taking side of things rather than price giving.
So it's still a, it's still a strong market and I think Queensland is in a pretty good situation going forward. If you'd like to, some more specific information on your property and how it fits in today's market with the current buyers and, and, you know, what they're looking for, happy to help. You can reach me at benjaminwaite.
com. au or you can give me a call at lghookerbeanlee. Thank you for listening. Whenever it's with it to do with real estate, remember it's always worth the wait.
Thanks for tuning in to Worth the Wait. If you enjoyed the podcast, please be sure to share with a friend and don't forget to hit that subscribe so you won't miss an episode and all my local property tips, updates, and insights. Until next time, I'm here when you need.