Market Monitor January-March 2020
Voice of Property on the Sunshine Coast
Coastal Living Offices
Ray White Buderim
Ray White Kawana
Ray White Maroochydore
07 5445 6088
07 5354 6012
07 5443 2000
raywhitebuderim.com.au
raywhitekawana.com.au
raywhitemaroochydore.com.au
Unparalleled in our local marketplace
Welcome to the latest instalment of the Ray White Market Monitor, reporting on the January to March quarter of 2020. 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 Mooloolaba
Ray White Nambour
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 5444 3455
07 5354 6000
07 5449 8800
07 5354 6002
raywhitemooloolaba.com.au
raywhitenambour.com.au
raywhitenoosariver.com.au
raywhitesippydowns.com.au
Auction Report JANUARY
FEB
82% 11
MARCH
74%
63%
SUCCESS
SUCCESS
SUCCESS
Auctions
RUARY
Auctions
27
Auctions
24
20
Sold
14
Sold
9
Sold
Withdrawn
0
Withdrawn
0
Withdrawn
0
Success (%)
82%
Success (%)
74%
Success (%)
63%
Clearance
27%
Clearance
67%
Clearance
58%
Days on Market
43
Days on Market
37
Days on Market
46
Registered Bidders
7
Registered Bidders
74
Registered Bidders
29
Pre Auction Offers
12
Pre Auction Offers
28
Pre Auction Offers
22
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.97% 3.72%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.11% 3.78%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.64% 1.08%
QUARTER COMBINED | Jan-Mar
PREVIOUS QUARTER COMBINED AS AT 31 March
69%
• The first quarter of 2020 was one of the strongest periods for sales and buyer activity on the Sunshine Coast in many years.
92%
SUCCESS
• 110 registered bidders across 62 Auctions created strong competition. • As a result of buyer competition, the average time to sell by Auction dropped to 42 days (was 51) and clearance rate rose to 52% (was 42%).
SUCCESS
Auctions
62
Auctions
93
Sold
43
Sold
73
Withdrawn
0
Withdrawn
14
Success (%)
69%
Success (%)
92%
Clearance
51%
Clearance
42%
Days on Market
42
Days on Market
51
Registered Bidders
110
Registered Bidders
126
Pre Auction Offers
62
Pre Auction Offers
66
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.91% 2.86%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-1.72% 3.02%
Auction Success Stories Our buyers are a young married couple already living in ‘Monaco’ and wanting to upgrade in the complex to a two bedroom apartment on a higher level for better views. They had missed out on another apartment and were well prepared not to do the same with this one.
907/12 Otranto Avenue, Caloundra Our seller had owner occupied since new and now at 91 years of age had to leave his beloved apartment and fly back home to Denmark to seek aged care and reunite with his family after 37 years apart. A retired dentist, he was also an acclaimed glider pilot and still holds records back in his home land for some outstanding feats. He could see great promise living in Australia to pursue his career and further his passion for the skies in his glider. Living on the ninth floor of ‘Monaco’ was like gliding to him with a procession of birds drifting by in flight and an ever changing panorama on offer.
9 Ridgeway Street, Sunrise Beach Our sellers are the parents of Jake Friend, a
Owing to the Covid19 threat the Auction scheduled to be held in the unit was relocated to the ‘Monaco’ meeting room, which proved an ideal location for keeping distance between those that attended. Instructions were sought at the $630,000 bid by our agent with the sellers who woke early at 5.00am in Denmark. After negotiations back and forth between both parties the apartment was called on the market at $650,000 and after the third and final call the property was announced as sold. Several other buyers came forward after the Auction and expressed their regret for not being ready to buy on the day.
famous Sydney Roosters football player. They
Inspections:
Inspections:
Offers: Sale Price:
31 One $650,000
had freshly renovated the property to the highest of standards, which meant we drew quite a crowd on the day of the Auction. The most interesting part of this sale was in fact the successful bidders who secured it on the day. We had never met them before nor had they seen the property before. After only seeing it for 20 minutes the young couple knew then and there that they had found their dream family beach home. Our agent registered them to bid, they quickly got prepared, engaged in the moment and with the fall of the hammer they were at the top securing the property for $1,425,000.
Offers: Sale Price:
13 One $1,425,000
The interest in this property was apparent from the very beginning, with over 100 inspections during the five week marketing campaign. This impeccably renovated Hampton’s style family home on top of Buderim, was ready for the new owners to
Our seller, who grew up in Buderim and raised two young children in the family home, enjoys renovating and is excited to begin a new project within the area.
Our buyer is a local lady with a son and daughter, who purchased for a change of location to be on the top of Buderim and the property is suitable for her elderly father to move in with her in the future.
On Auction day, Queensland’s heat and humidity didn’t keep the buyers away, with over 30 attendees, which included seven registered bidders, four of which were active on the day. The hammer fell on the 20th bid placed, which made for one very happy new owner.
Inspections:
Offers:
Sale Price:
move in and enjoy everything this prime location has to offer.
100
1/26 Satinay Street, Mountain Creek The property was originally a stand alone home on 1,041sqm block. The owner subdivided the block and built a second residence behind the original home. The home was renovated and styled beautifully to highlight the character and was presented the best it could for buyers. Our sellers are active investors on the Sunshine Coast who focus on purchasing properties that are able to be subdivided, to build, renovate and sell. They are capitalising on the strong Sunshine Coast market.
Three
$1,055,000
5 York Road, Buderim
The purchaser had been watching the property for three weeks but only flew to the Sunshine Coast the Thursday before the auction, inspected the property late Friday afternoon, before buying the home under the hammer on Saturday.
The owners purchased the land in 1978 where they built their forever
We generated four offers prior to auction, creating a competitive environment. On Auction day we had eight registered bidders who were investors, first home owners and downsizers looking to purchase the home. The bidding started at $330,000 and with four active bidders competing against each other saw the bidding quickly increase to $400,000. With two bidders still competing over the next 20 minutes, we negotiated with both of them with the successful buyer standing up and paying $435,000.
We had a massive amount of interest with multiple buyers trying to stop the Auction. We had six pre-registered bidders and a total of fourteen on Auction day. Six were very involved with vigorous bidding until two battled each other right until the end with a crowd of 90 watching on.
Inspections: Offers: Sale Price:
home, but with age catching up with them, our sellers decided to move on to their next stages in life. Our buyers are from Buderim, who were wishing to move close to the beach and build their new dream beachside home.
Inspections:
59 Offers:
Sale Price:
86 Four $435,000
34 Neerim Drive, Mooloolaba
Six $705,000
Buyer Inspections JANUARY
FEBRUARY
MARCH
1,708 total inspections
2356
total inspections
1,504
496
488 number of open homes
410
number of open homes
1,140
1,285
exclusive agency inspections
620
exclusive agency inspections
459
1,328
726
number of open homes
exclusive agency inspections
buyer inspections at auctions
buyer inspections at auctions
total inspections
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | Jan-Mar 2020
5,568
total inspections
1,394 number of open homes
3,045
exclusive agency inspections
2,513
buyer inspections at auctions
• Our agency network traditionally averages around 4000 inspections per quarter, this jumped to over 5,500 buyer inspections during the 90 day period. • Our 62 Auction campaigns drew over 2,500 inspections, at an average of 40 inspections per Auction compared to Exclusive inspections of just eight it’s clear that the marketing campaigns behind Auctions is driving superior buyer enquiry.
Who is Buying? JANUARY
FEBRUARY
73% 27%
MARCH
78% 22%
QUARTER COMBINED | JAN-MAR
76%
77% 23%
24%
• Owner occupiers are continuing to drive our local property market, representing over 70% of our transactions. • We believe that many purchasers who are buying new homes to live in are retaining their existing properties as rental properties with the assistance of historically low interest rates and stronger than usual rental yields. Owner Occupiers
Investors
More Auctions. More Advertisements. INSPECTIONS ADVERTISED QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in January, February and March 2020
600
Taken from final week ending in January, February and March 2020
50
519
500
49
40
400 30
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.
Exclusive Agency Sales Report JANUARY
FEB
RUARY
62
62
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
308 62 20% 68
MARCH
45 TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
278 62 22% 59
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
313 45 14% 76
QUARTER COMBINED | Jan-Mar
QUARTER COMBINED | PREVIOUS QUARTER
169
176
TO
TO
TA L S O L D
TA L S O L D
Number on Market
300
Number on Market
309
Total Sold
169
Total Sold
176
90 Day Success (%)
56%
90 Day Success (%)
57%
Average Days on Market
108
Average Days on Market
68
• The overall strength of the market continues to show, with the 90 day success rate staying above 50% for the second successive quarter. In past reports this has averaged in the 30% range.
Property Management JANUARY
FEBRUARY
MARCH
73
110
84
properties leased
properties leased
properties leased
18
18
18
average days on market
average days on market
average days on market
99%
99%
99%
occupancy rate
occupancy rate
occupancy rate
Your home is where you feel safe. We’re determined to keep it that way.
Coastal Living Offices Ray White Buderim
07 5445 6088 raywhitebuderim.com.au
Ray White Kawana
07 5354 6012 raywhitekawana.com.au
Ray White Maroochydore
07 5443 2000 raywhitemaroochydore.com.au
Ray White Mooloolaba
07 5444 3455 raywhitemooloolaba.com.au
Ray White Nambour
07 5354 6000 raywhitenambour.com.au
We’re here to help. Reach out to us for any property advice.
Ray White Noosa River
07 5449 8800 raywhitenoosariver.com.au
Ray White Sippy Downs
07 5354 6002 raywhitesippydowns.com.au
Š 2020
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