2021-12-13 GC Agenda - Item 8 -Attachment 1 - Housing Needs Assessment

Table 28 New house and vacant land sales, 12 months ending 30 June 2021


           Area                        Number of sales                        Median sale price

                               New houses           Vacant land           New houses     Vacant land

 Noosa LGA                                  13                   72         $1,060,000       $660,000

 Sunshine Coast LGA                        274                2,000            569,500        290,900

 Moreton Bay LGA                           509                2,766            499,900        275,000

 Redland LGA                               144                1,619            648,500            40,000

 Brisbane LGA                              754                2,214            825,000        400,000

 Gold Coast LGA                            207                1,233            606,000        315,000

 Queensland                              3,631              21,763            $500,000       $229,000

Source: Queensland Treasury Regional Profile derived from Department of Resources, Office of the
Valuer-General, Property Sales data.
Generational inequity is often discussed in relation to housing cost. Housing costs have increased
compared to annual incomes making it increasingly more difficult to save a deposit.
There is also a gender disparity given the reported difference in full time average earnings between
adult women and men. According to CoreLogic, based on the average weekly full time earnings for
men and women in Australia, it would take women on this average income an additional 10 months
to save for a 20% deposit on the median dwelling value as at January 2021, compared with the
average full time earnings for men37. Further, given that, at January 2021, women accounted for
67.2% of Australians in part time employment, and only 37.9% of those in full time employment. This
disparity in total average earnings is even greater.
Conversely, interest rates are lower than they have been in the past, more government grants and
assistance packages are available and more dual income families exist than previous generations.


10.2         Mortgage Payments
At census 2016 the median monthly mortgage repayment for Noosa Shire was $1,733, exactly in
line with the State’s figure. Within Noosa Shire the lowest median monthly mortgage repayment was
$1,662 at Noosa Hinterland and the highest was $1,939 at Noosa Heads. Given the difference in
purchase price these monthly costs are not significantly different.
By comparison, the median monthly mortgage repayment in Brisbane City was $2,000, at both the
Gold Coast and Redland City $1,950 and at Sunshine Coast LGA $1,800.
The figures are based on place of usual residence at census time. Therefore, they are derived from
owner occupiers and not property investors who live outside Noosa Shire.




37 CoreLogic (March 2021) Women and Property: State of Play




Noosa Housing Needs Assessment 2021                                                               Page 81