Market Monitor July - September 2018
Voice of Property on the Sunshine Coast
Coastal Living Offices Ray White Buderim
Ray White Kawana
Ray White Maroochydore
Ray White Mooloolaba
07 5445 6088
07 5354 6012
07 5443 2000
07 5444 3455
raywhitebuderim.com.au
raywhitekawana.com.au
raywhitemaroochydore.com.au
raywhitemooloolaba.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 2018. 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.
Ray White Nambour
Ray White Noosa
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.
Ray White Noosa River
Ray White Sippy Downs
07 5354 6000
07 5447 2021
07 5449 8800
07 5354 6002
raywhitenambour.com.au
raywhitenoosa.com.au
raywhitenoosariver.com.au
raywhitesippydowns.com.au
Auction Report AUGUST
J U LY
76%
SEP
TEMBER
85%
50%
SUCCESS
SUCCESS
SUCCESS
Auctions
28
Auctions
22
Auctions
87
Sold
19
Sold
17
Sold
42
Withdrawn
3
Withdrawn
2
Withdrawn
3
Success (%)
76%
Success (%)
85%
Success (%)
50%
Clearance
46%
Clearance
50%
Clearance
40%
Days on Market
38
Days on Market
46
Days on Market
45
Registered Bidders
53
Registered Bidders
24
Registered Bidders
89
Pre Auction Offers
30
Pre Auction Offers
17
Pre Auction Offers
32
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.92% 2.19%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.62% 3.60%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.42% 0.72%
QUARTER COMBINED | JUL-SEPT
PREVIOUS QUARTER COMBINED AS AT 30 SEPT
60% Auctions Sold
• Auctions remain one of the most popular methods of sale; we conducted 137 campaigns in the last quarter inclusive of our annual in room Auction Event.
95%
SUCCESS
SUCCESS
137 78
Auctions
115
Sold
99
Withdrawn
8
Withdrawn
11
Success (%)
60%
Success (%)
95%
Clearance
45%
Clearance
44%
Days on Market
43
Days on Market
43
Registered Bidders
166
Registered Bidders
229
Pre Auction Offers
79
Pre Auction Offers
118
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.99% 2.17%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-2.11% 2.78%
• Even with the increased supply of property, which is normal during spring, buyers remain very active with 60% of these auctions already sold and we expect more sales to continue. • Buyers are still continuing to pay more at auction with competition, on average they are paying over 2% on auction day than their previous offer.
Auction Event 2018 A day of action. It certainly was a day of action at our Ray White Coastal Living Network’s huge Auction Event held at Mercedes Benz Sunshine Coast on Sunday 23 September. In it’s fourth year, our network of eight offices and 80 agents teamed up on Sunday to take 65 houses, apartments and vacant land to auction with around 500 people in attendance across the day. To date, the combined sales figures from the event, including properties sold prior and post, has reached a total $20,419,500 as 33 of the 65 properties have sold, this is an indication of confidence in the Sunshine Coast market.
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Coastal Living
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The highest sale under the hammer at Sunday’s event was a $1,925,000 transaction of a luxurious four bedroom Cotton Tree penthouse at 801/92 Sixth Avenue, Maroochydore. At the opposite end of the spectrum, a one bedroom, one bathroom unit at 301/3 River Esplanade, Mooloolaba sold for $252,000.
More Auctions. More Advertisements. OPEN HOMES ADVERTISED QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in July, August and September 2018
Taken from final week ending in July, August and September 2018
60
800 700 600
50
644
51
40
500 30
400 300
20
200 10
100
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.
Auction Success Stories This Penthouse apartment won the HIA Sunshine Coast/Wide Bay ‘Apartment of the Year’ in 2016. It’s striking living spaces flow out directly to large terraces - creating the sensation of floating above it all. Our seller made the decision to put their home on the market to downsize to another apartment nearby. It was an emotional time during the campaign but the home was presented absolutely immaculately week after week. Our buyers were up on the Sunshine Coast from Canberra looking at properties. They were looking at waterfront houses, then we suggested they look at this house size apartment as they wanted something low maintenance. They viewed the property on the Thursday, fell in love with it and bought it under the hammer on Sunday at our Auction Event. Inspections: Offers:
801/92 Sixth Avenue, Maroochydore
Sale Price:
29 One $1,925,000
Combining lifestyle, location and presentation - this high quality property attracted a lot of interest from buyers at both open home and private inspections, resulting in four offers prior to auction and four registered bidders on auction day. The interested buyers were a mix of interstate and local people, primarily looking to make it their home. Our sellers and their family are making the move up north to pursue further career opportunities and our buyers are looking to move to the Sunshine Coast from Brisbane as soon as possible. Inspections: Offers: Sale Price:
20 Plymouth Quay, Maroochydore Our sellers have spent the past eight years renovating their home from top to bottom, only to have recently finished it and then decided to move back to their original town in Samford. This grand property sits on 33m water frontage and offers the perfect balance of luxurious waterfront living with the practicality of storing all your favourite toys. Inspections: Offers: Sale Price:
With over 78 inspections during the campaign, we had a lot of interested parties and come auction day, we had eight registered bidders. Our buyers live locally and had been looking for a new home for a while. They have three children so we are sure that the pool and pontoon will be well enjoyed over the coming years. 78 Three $1,345,000
1 Irene Street, Tewantin
49 Four $772,000
The story behind how this home was originally established is quite unique - the owners were residing in their shed and designed this tranquil home themselves. The shed is still able to be lived in as it has a functional bathroom, bedroom and living space. On the day of our first open home we greeted five groups of buyers and received an offer. As we were getting closer to auction day - our buyers were getting ready, some submitting prior offers and four groups returning for their second inspections. Auction day was thrilling and we had a fantastic turn out. All of our bidders arrived right on time along with their family and friends and the property sold under the hammer for $530,000. Inspections: Offers: Sale Price:
25 Paynters Creek Road, Rosemount
It was a textbook auction following a wellreceived marketing campaign. The location is popular - Buderim Meadows is considered a good, safe option. It is close to some of the best schooling and just five minutes to the Buderim Village. A start of $510,000 led to competitive bidding between two parties and a sale price of $627,500. The auction was especially exciting for the buyers with one party on the phone
while out of town for work. Buying their first home in Queensland and with family already located just around the corner, this property was the perfect fit. Our happy sellers are looking forward to returning to the UK to be closer to family. Inspections: Offers: Sale Price:
24 Three $627,500
89 Jingellic Drive, Buderim
24 Three $530,000
This property offers lifestyle plus - within
a bidder chimed in at $400,000 and we were walking distance to Currimundi lake for a quick away. Bidding quickly reached $485,000, then fish, and the shops are nearby for hot chips to after a slight pause and some discussion we had an increase to $522,500 and the property was accompany the freshly caught catch of the day. sold to an investor from Sydney. We had no shortage of buyers attending the auction to see what the home would sell for. But we had a tough crowd as silence grew after asking for an opening bid. The 47 attendees, who were in the front yard and on the pavement, seemed a bit squeamish until
Inspections: Offers: Sale Price:
60 Two $522,500
2/11-13 Akeringa Place, Mooloolaba Our Sydney sellers had owned this unit for 38 years before deciding they needed to sell to purchase another property. We had been communicating with them for five years and it was a nice feeling to assist one of our long term investors. We received four offers during the campaign and had three registered bidders on auction day. The bidding started at $200,000 and slowly crept up to $290,000. Our Auctioneer and Agent went back and forth several times between the bidder and the interstate sellers, with an increase to $315,000, the property was called on the market on sold under the hammer. Our buyer is a lovely lady who had been looking for a short while for somewhere to renovate and add her finishing touches. Inspections: Offers:
16 Gannawarra Street, Currimundi
Sale Price:
7 Four $315,000
Who is Buying? JULY
AUGUS T
74% 26%
SEP TEMBER
72%
28%
QUARTER COMBINED | JUL-SEPT
72%
70%
30%
28%
• Owner occupiers continue to dominate the purchasing market, out-buying investors by almost 3 to 1.
Owner Occupiers
Investors
• Investors are still active in the market; although they are less inclined to bid beyond what a genuine owner occupier will pay.
Buyer Inspections JULY
AUGUST
SEPTEMBER
1,782
1,448
2,441
864
914
983
total inspections
total inspections
total inspections
number of open homes
number of open homes
number of open homes
930
735
1,233
exclusive agency inspections
exclusive agency inspections
exclusive agency inspections
763
598
1,223
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | JUL-SEPT 2018
5,671
total inspections
2,761 number of open homes
2,898
exclusive agency inspections
2,584
buyer inspections at auctions
• With over 5,600 inspections conducted in the quarter, this is a new record set by our agencies. Providing further evidence that there is considerable depth in our buying market. • Over 50% of these buyers attended our auction properties, a clear sign that strong marketing campaigns create more buyer inspections.
Exclusive Agency Sales Report J U LY
AUGUST
28
49
TO
TO
TA L S O L D
Number on Market
329
SEP
45 TO
TA L S O L D
Number on Market
Total Sold
28
Total Sold
30 Day Success (%)
9%
30 Day Success (%)
Average Days on Market
61
Average Days on Market
TEMBER
367 49 13% 51
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
399 45 11% 61
QUARTER COMBINED | JUL-SEPT
QUARTER COMBINED | PREVIOUS QUARTER
122
134
TO
TO
TA L S O L D
TA L S O L D
Number on Market
365
Number on Market
304
Total Sold
122
Total Sold
134
90 Day Success (%)
33%
90 Day Success (%)
44%
Average Days on Market
58
Average Days on Market
84
• Spring has seen more stock on the market, we now have over 365 properties listed for sale, a rise of around 10% • Over the 90 day reporting period, one third of all properties listed on the market at a price has sold. Clear evidence that well priced properties are attracting good buyer interest.
Property Management JULY
AUGUST
SEPTEMBER
108
104
90
properties leased
properties leased
properties leased
21
17
14
average days on market
average days on market
average days on market
98%
98%
98%
occupancy rate
occupancy rate
occupancy rate
Community Corner We’ve got your back and we set the pace. The 7 Sunshine Coast Marathon is one of the most loved running festivals in Australia. Since its inception the 7 Sunshine Coast Marathon has raised over $1.5 million for charity and community groups. Blue skies, low humidity and mild temperatures combined with a flat course always enable fast times in the Marathon, Half Marathon, 10km, 5km and the 2km. With a distance to suit every ability and age group, this community focused, world class athletic event caters to all those wanting to take part, including families and those with both physical and intellectual disabilities. It is our absolute pleasure to be sponsors of the 500+ Ray White Volunteers and the Ray White Pacers. A big thank you to all of them for giving up their weekend for another year of selfless service and assisting runners both on and off the course. Our staff who took part in the event raised $810 for our chosen charity, Bloomhill Cancer Care. SAVE THE DATE FOR 2019 - SUNDAY 4TH AUGUST!
Fighting for our Farmers. Yeehaw! Check out our team of cowboys and cowgirls at Ray White Mooloolaba and Ray White Kawana who were ‘Fighting for our Farmers’ and raised much needed funds to ‘Buy a Bale’. They exceeded their target of $1000 and raised $1610, thanks to their generosity and other locals who kindly supported the cause.
Š 2018
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