Market Monitor July - September 2017
Voice of Property on the Sunshine Coast Ray White Maroochydore
Ray White Buderim
Ray White Mooloolaba
Ray White Sippy Downs
Ray White Noosa
Ray White Noosa RIver
1/4-8 Duporth Avenue
1/66 Burnett Street
1-3/13 Brisbane Road
Shop 15/18 University Way
1/37 Hastings Street
8/113 Poinciana Avenue
Maroochydore
Buderim
Mooloolaba
Sippy Downs
Noosa Heads
Tewantin
07 5443 2000
07 5445 6088
07 5444 3455
07 5354 6002
07 5447 2021
07 5449 8800
raywhitemaroochydore.com.au
raywhitebuderim.com.au
raywhitemooloolaba.com.au
raywhitesippydowns.com.au
raywhitenoosa.com.au
raywhitenoosariver.com.au
Unparalleled in our local marketplace Welcome to the latest instalment of the Ray White Market Monitor, reporting on the July to September quarter of 2017. This document is your window to the industry, revealing detailed statistics we collect on everything from auctions through to property management. The quality, depth and timeliness of this data reporting is unparalleled in our local marketplace. Quite simply, nobody is doing this.
Inside these pages you will find a rich array of our collective data and results along with a selection of our auction success stories from the quarter. We have highlighted our property management statistics, buyer inspection reports and finally, our involvement in the communities we call home.
Auction Report AUGUST
J U LY
86% 29
TEMBER
83%
71%
SUCCESS
SUCCESS
SUCCESS
Auctions
SEP
Auctions
18
Auctions
66
Sold 24
Sold 15
Sold 46
Withdrawn 1
Withdrawn 0
Withdrawn 1
Success (%)
Success (%)
Success (%)
86%
83%
71%
Clearance 55%
Clearance 67%
Clearance 47%
Days on Market
32
Days on Market
35
Days on Market
Registered Bidders
80
Registered Bidders
27
Registered Bidders
167
Pre Auction Offers
29
Pre Auction Offers
12
Pre Auction Offers
22
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.91% 1.78%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.59% 2.13%
47
% Lift on Reserve
1.18%
% Lift from Highest Pre Auction Offer to Sale
3.14%
QUARTER COMBINED | JUL - SEPT
PREVIOUS QUARTER COMBINED AS AT 30 SEPTEMBER
• Buyers are paying more on auction day, averaging 2.35% more than the highest offer prior to auction.
77%
97%
SUCCESS
Auctions
• Another strong period of auction sales with 85 properties sold this quarter and 78 sold last quarter. • Sellers are discounting very little if at all on their expectations, with September seeing a lift on reserve price and only 0.11% discounting over the quarter.
SUCCESS
113
Auctions
89
Sold 85
Sold 78
Withdrawn 2
Withdrawn 6
Success (%)
Success (%)
77%
97%
Clearance 56%
Clearance 46%
Days on Market
Days on Market
38
33
Registered Bidders
274
Registered Bidders
213
Pre Auction Offers
63
Pre Auction Offers
33
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-0.11% 2.35%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-3.57% 3.69%
• 65% of all buyer inspections were conducted on properties that were going to auction.
The Auction Event 2017 A day to remember
The Sunshine Coast’s largest Auction Event was held at Mercedes-Benz Sunshine Coast on Sunday the 17th of September and it certainly was a day to remember.
Properties on offer included apartments, houses, prestige homes and holiday units, with buyers ranging from owner-occupiers, investors and even first-time buyers.
In it’s third year, the event - a joint effort by Ray White Maroochydore, Buderim, Mooloolaba, Sippy Downs, Noosa and Noosa River - had attendance of over 300, 81 registered bidders on the day, 1400 views on Facebook Livestream, and our Auctioneers, Dan Sowden and Haesley Cush took an incredible 266 bids from the floor.
The highest sale price on the day was $1.96m for a Maroochydore apartment while the lowest recorded sale was for $257,500 for a Mooloolaba apartment in the Carribean Resort.
A total of 44 properties were on the order of sale, with 13 selling on auction day, four sold prior and another 11 sold within two weeks post-auction, with a total of $16.5m in sales, this is an indication of a clear confidence in the Sunshine Coast market.
Auctioneer Dan Sowden attributed the success of the sold properties to the auction process. “The competitive environment of an auction reveals which buyer is the most emotionally invested in a property, which is why auction properties often achieve an above-market sale price”, he said.
Auction Event Success Stories The owner bought this property from us at Auction only 18 months earlier. We started his marketing campaign by listing with a price and saw very little interest for some months. As the desire to sell this home became more genuine we looked at all possible options together and decided that Auction would provide us with the best opportunity to achieve the highest possible price.
The seller is a young, Sunshine Coast local and the buyers are from Brisbane and have been holidaying on the Sunshine Coast as a family for a long time. They are excited to eventually move and call this beautiful part of paradise home.
our Coastal Living Auction Event, we had four registered bidders with bidding starting at $1.5m and quickly moving to $1.88m, when the property was announced on the market. Selling shortly after with very fierce bidding for $1.96m.
Over the course of the Auction campaign we had constant and genuine enquiry from Brisbane, Melbourne and even international attention. Come auction day at
Sale Price
$1,960,000
Inspections
40+
Prior Offers
Three
1202/65 Sixth Avenue, Maroochydore
42 Parkway Drive, Mooloolaba This home has been in the family for 30 years, it has been enjoyed by many and more memories were created than you can imagine. But it was time for the home to enjoy it’s next chapter. With 28 groups through the first open home we knew it was going to be a popular property. Rarely do homes of this location and convenience hit the market. Over the course of the marketing campaign there were over 75 inspections resulting in 18 registered bidders on the day at our Auction Event. Bidding started at $500,000 from an investor from NT, the bid was soon increased to $565,000 then a local Twin Waters resident took to the floor with $610,000. It was then a battle all the way to $650,000 where the last bid at $651,000 was placed by a local family who had viewed the property the first day it was open. Going once, twice, three times, SOLD! - the successful buyer jumped in the air and hugged the agent. The new family had just sold in Maroochydore and were looking for a renovator. This property was perfect as the home had not been touched since it was built. They will renovate the home over the years and enjoy the new surrounds and all that Mooloolaba has to offer. Sale Price
$651,000
Inspections
75+
Prior Offers
Five
Auction Success Stories This home is situated right on the edge of the old Horton Park Golf Course - now the new and upcoming Maroochydore CBD - in a quiet street that not many know about. Our sellers are a local family who have raised their children in this home and were ready for a change and to take advantage of the current market.
A five week marketing campaign brought 25 potential buyers to the property, who all commented on the size of the home and how deceiving it is from the outside. Most saying they did not realise it was so spacious until they inspected in person. Auction Day was interesting! With three active bidders, it came down to two fighting it out, with the
under bidder getting in his car and driving off before the auction call finished and the hammer fell! The happy buyer is a young man who lives in Brisbane and was looking for a good investment. Sale Price
503/14 Aerodrome Road, Maroochydore
$660,000
Inspections
25
Prior Offers
None
40 Hazeltine Court, Maroochydore
This luxurious fifth level, two bedroom, two bathroom plus study beachfront apartment is located between Alexandra Headland and Maroochydore with expansive ocean views from Alexandra Headland to Noosa. We met the seller in the foyer of the building while we were there with a photographer who was photographing another unit . Our agent discussed the auction strategy with the seller, he had no hesitation in moving forward as he had seen the success the agent had with previous sales in the building. Our succesful bidder on the day had viewed the property on multiple occasions and appreciated the quality and location of the building. They were glad they had registered to bid on the day as they said they would have been disappointed if they hadn’t and they may have missed out on purchasing the property at a price where they saw value. Sale Price
$480,000
Inspections
28 groups
Prior Offers
None
Auction Success Stories 7 Watervale Court was the first house built in the street and it was the first time this property has been offered to the market as our sellers were the original owners for over 19 years. After raising their family in the house, the sellers decided to lease the property after the kids had left home and then recently the tenants
had vacated and they felt it was the right time for them to sell. The four week marketing campaign ran like clockwork and we experienced strong buyer enquiry. On auction day we had five registered bidders and the property was sold under the hammer for $522,500.
A great outcome for everyone - extremely happy vendors and buyers who had recently moved from Victoria and were excited to secure a property close to great schools and the University. Sale Price
$522,500
Inspections
27 groups
Prior Offers
Two
7 Watervale Court, Sippy Downs
205 Mons School Road, Buderim Our successful buyers did all of their research online because they were out of the area. They are a couple who wanted to move to the Sunshine Coast for lifestyle and were helped out by family in the area to clarify where to buy. Of course Buderim jumped to the top of the list as a safe community in a lush and natural area and when family drove past this home they endorsed it as good buy. Then the Auction process took over - the buyers organised pre-approved finance, air flights for the day and got their mind in gear to bid on auction day. It would be easy to say that this home sold because of an online presence but the other 14 bidders came from all sources including newspaper and they drove the end result. 15 registered bidders on the day meant the energy on Auction day was palatable. Bidding started at $300,000 with a local couple keen to get a home with space around them. 15 bids later and our happy couple from NSW Central Coast who had only seen the home that day were the new owners. Sale Price
$565,000
Inspections
89 groups
Prior Offers
None
More Auctions. More Advertisements.
100
PICTORIAL ADVERTISING QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in July, August and September 2017.
Taken from final week ending in July, August and September 2017. 80
103
82
70
80 60 50
60
40
40
30 20
20 10
Competitor 5
Competitor 4
Competitor 3
Competitor 2
Competitor 1
Ray White
Competitor 5
Competitor 4
Competitor 3
Competitor 2
Competitor 1
0
Ray White
0
‘Ray White are the undisputed market leaders on the Sunshine Coast for both property advertising and auctions.’
Buyer Inspections JULY
AUGUST
SEPTEMBER
1029
1387
1412
total inspections
total inspections
total inspections
453
405
648
number of open homes
number of open homes
number of open homes
419
453
732
private inspections
private inspections
private inspections
733
565
1193
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | JUL - SEPT 2017
3828
total inspections
1506 number of open homes
1604 private inspections
2491
buyer inspections at auctions
Of the 3,828 buyer inspections conducted during this quarter, 2,491 buyers viewed our auction properties. This represents a significant 65% of all buyer inspections viewing 113 auction properties, or just 26% of our marketed property.
Private Treaty Sales Report J U LY
AUGUST
53
55
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
298 53 18% 89
SEP
36 TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
TEMBER
320 55 17% 66
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
303 36 12% 66
QUARTER COMBINED | JUL - SEPT
QUARTER COMBINED | PREVIOUS QUARTER
138
144 TO
TO
TA L S O L D
TA L S O L D
• The 90 day succcess rate remained steady at 47% which supports our view that there are plenty of serious buyers wanting to secure property.
Number on Market
307
Number on Market
293
Total Sold
144
Total Sold
138
90 Day Success (%)
47%
90 Day Success (%)
47%
Average Days on Market
74
Average Days on Market
58
• When you combine both the auction sales and private treaty sales, our network of offices sold 229 properties over the 90 days. • The average days on market rose slightly from 58 last quarter to 74 days this quarter.
Who is Buying? JULY
AUGUS T
73% 27%
SEP TEMBER
68%
QUARTER COMBINED | JUL - SEPT
66%
60% 40%
32%
34%
Owner occupiers continue their strong influence on the market throughout 2017, September saw the largest % of investors purchase in the quarter.
Owner Occupiers
Investors
Property Management JULY
AUGUST
SEPTEMBER
86
100
75
properties leased
properties leased
properties leased
14
14
14
average days on market
average days on market
average days on market
99%
99%
99%
occupancy rate
occupancy rate
occupancy rate
Community Corner Brightwater Stars Star Fest 1 was Brightwater State School’s first ever fete and was held to raise money for a new senior adventure playground. Danielle Margetic from Ray White Mooloolaba, whose daughter attends Brightwater State School, jumped on the opportunity and challenge to help out and raise as much money as she could. Our Ray White marquee was the central point for all raffle ticket sales and coordination of prizes and donations from many generous local businesses, with a Ray White yellow bike being one of the raffle prizes. A big thank you to Ray White Mooloolaba staff for buying so many raffle tickets and providing their time and support on the day. The event was a huge success - Ray White Mooloolaba raised $5000, with an overwhelming grand total of over $20,000 raised! This means building of the new adventure playground will be commencing very soon.
Carnival on Buderim What a team! Brodie Rodgers, Dan Smith, Nathan Nicholl and Scott Harding manned the Ray White stall during the Buderim Mountain State School Carnival on Saturday 26 August. There was a great turnout on the day and as always (and what we like best) a great event for our community. Thank you to everyone who entered our colouring competition and bike raffle – you have helped to raise funds for the Buderim Mountain State School P & C. We must say judging of the colouring competition was not an easy task as the entries were of very high standard. Congratulations to the lucky winners of our Ray White bikes! Amelia (pictured on the kiddies bike) and Debbie. We hope you both enjoy sporting your new beauty this summer.
Sport Supports Sunshine Butterflies Liam Anlezark and Hayden Trask from Ray White Noosa River recently organised for the Noosa Pirates Rugby League A Grade side to don dedicated Sunshine Butterflies purple jerseys for the final home game of the season. The fundraiser was a huge success and included a charity auction called by their Principal and Auctioneer, Justin Sykes, on game day. This heartwarming community event raised $1750 for the local disability support service. Liam and Hayden have committed to continue supporting this worthwhile cause with future community events. Go Pirates and Team Anlezark!
We’ve got your back. It’s our way of giving back. The 7 Sunshine Coast Marathon is a winter fun run like no other. So many bests - the best weather, the best course with the best views, personal bests, the best carnival atmosphere and of course the best volunteers! A big thank you to all of the incredible 500 Ray White volunteers who gave up their weekend for another year of selfless service. What a sensational bunch of champions looking after over 6000 runners on and off the course. Over 70 of our staff took part in the event as runners and volunteers and their efforts raised $840 for our chosen charity, Bloomhill Cancer Care. The best result from this community event is that it has raised a total of $1.3million since the event started in 2012. Money raised from this not-for-profit event has been distributed to more than 70 charities including the event’s two major beneficiaries, Ronald McDonald House Charities and Westpac Foundation. SAVE THE DATE FOR 2018 - Sunday 19th August!
Š 2017
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