Get a property report and suburb profile for any property in Banora Point

Banora Point is a riverside suburb on the Tweed River and Terranora Creek, with canal-front and riverfront streets, roomy low-rise housing and generous parkland. It is home to 16,460 people and has a median age of 49. The community is largely made up of couple households, and the area appeals to families and retirees who enjoy boating, fishing and golf.

Neighbourhood shops, schools and medical services cover everyday needs, while quiet streets open onto waterfront reserves and walking paths. The suburb sits on a convenient road corridor with links to beaches, larger retail precincts and the Gold Coast. Council works focus on drainage and water quality, including floating reed beds and a broader levee and drainage study, and local upgrades include two fenced off-leash dog parks, a new inclusive playground and a large ground-mounted solar PV array at the wastewater plant. Whether that suits you comes down to what you're looking for in a suburb.

On the figures, housing costs in Banora Point take up a large share of what a typical local household earned at the last Census. Average house rent of $950 a week is about 74.9% of the median weekly household income recorded at the last Census, and average unit rent of $750 a week is about 59.2% of that income. Looking at buying, the median house price of $1,290,000 is about 19.6 times a typical local annual household income at the last Census, while the median unit price of $880,000 is about 13.3 times that annual income. Both renting and buying sit well above local incomes, with buying markedly further above.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The most striking movement over the past year is in house values, which climbed 15.2%, a strong rise. House rents also rose strongly, up 11.8%, so for houses capital growth outpaced rental income in the 12-month period. Units show a different mix in Banora Point: unit values rose 8.3%, a solid increase, while unit rents climbed 11.1%, a strong rise, meaning unit rents grew faster than unit values this year. Overall, house values grew faster than unit values, and both types saw strong rent growth with house rents up a touch more than unit rents.

These figures describe what happened over the past 12 months; the value numbers point to capital growth and the rent numbers to rental income. Whether that balance fits your goals and circumstances is something only you can decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.