Market Monitor April-June 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 April to June 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 APRIL
90%
M AY
JUNE
87%
81%
SUCCESS
SUCCESS
SUCCESS
Auctions
20
Auctions
24
Auctions
31
Sold
18
Sold
20
Sold
25
Withdrawn
0
Withdrawn
1
Withdrawn
0
Success (%)
90%
Success (%)
87%
Success (%)
81%
Clearance
65%
Clearance
38%
Clearance
58%
Days on Market
45
Days on Market
27
Days on Market
52
Registered Bidders
31
Registered Bidders
37
Registered Bidders
62
Pre Auction Offers
14
Pre Auction Offers
21
Pre Auction Offers
40
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-3.64% 2.02%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.68% 2.05%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.56% 3.30%
QUARTER COMBINED | Apr-Jun
PREVIOUS QUARTER COMBINED AS AT 30 June
85%
90%
SUCCESS
SUCCESS
• Even with the Covid-19 pandemic and subsequent social restrictions; the Sunshine Coast property market continued to thrive with the auction results recording an overall success rate of 85%, which was just 5% lower than the previous quarter.
Auctions
75
Auctions
62
Sold
63
Sold
53
Withdrawn
1
Withdrawn
3
Success (%)
85%
Success (%)
90%
Clearance
54%
Clearance
51%
Days on Market
41
Days on Market
42
Registered Bidders
130
Registered Bidders
110
Pre Auction Offers
75
Pre Auction Offers
62
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.96% 2.46%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-2.16% 3.54%
• On average, the buyer competition created with 130 registrations ensured that the eventual sale price rose almost 2.5% compared to the highest pre-auction offer.
Auction Success Stories
Our sellers are professionals at our local hospital and made the decision to move back to their beautiful home in Sippy Downs. Our buyer is a lovely lady who was looking for a sea change, making the move from a couple of acres in Kiels Mountain. She found this great apartment, loved the views and knew it could be her new home and she would enjoy morning beach walks. This was our agents first Private Online Auction. We had three registered bidders on the phone with our agents, all while practising safe social distancing from each other and our Auctioneer. The bidding started strong at $340,000, up to $360,000 and then went up in $1,000 increments to $364,000. A quick negotiation took place and the property was put on the market with an increased bid to $370,000 and was sold under the hammer to our happy buyer. Inspections Offers
28-34 Golden Valley Place Valdora
Sale Price
The original owner of this property was an architect who designed and built the home specifically to take in the views of Mt Ninderry, the block and bush surrounds. He was the owner until the Endeavour Foundation bought it as a prize home. Our seller is a lovely lady who is a Massage Therapist and a Psychic and believes the house was gifted to her. She is now moving to Northern New South Wales. Our buyers are from Redcliffe, having recently moved to Queensland from Europe. They plan to work from home in their IT business. This property was part of our very first Private Online Auction Event. We had bidders online and the successful bidder was on the phone with our agent. The
bidding started at $900,000, then $925,000, $950,000, then increased by $5,000 bids to $965,000. Our auctioneer paused the bidding, our agent negotiated a $5,000 increase and the property was announced on the market and sold under the hammer. Inspections Offers Sale Price
25 One $970,000
1/14 Kalinda Avenue, Mooloolaba
10 Three $370,000
This property is a rarity of acreage in Tanawha, close to beaches and shops plus the bonus of triple living with income in Buderim’s foothills. Our buyers are a large family with Mum and Dad leaving the farm in Central Queensland, in part because of the drought and in part to be closer to the rest of the family on the Sunshine Coast. They were very excited to find their piece of country so close to shops and beaches. Meanwhile our sellers had bought a large acreage at Pomona seeking a return to a large horse property in their pre-retirement years.
172 Tanawha Road Tanawha
10 Cooba Close is a lovely elevated home in the ‘Buderim Forest’ estate of Buderim. It offers all the leafy charm of Buderim, yet in under ten minutes you can find yourself at the beach, Sunshine Plaza or Cotton Tree. While the property mostly attracted families looking to upgrade, the purchasers are a friendly retired couple who had been living in a unit in Cotton Tree for the past 16 years. After many years of unit living, they decided they wanted a home with some space for a 4WD, caravan and a workshop, and the dual-driveway suited them well. Immediately after the fall of the hammer, they were swarmed by neighbours welcoming them to the area. The property came on to the market during a period of relative uncertainty as we were in the midst of the Covid pandemic. We commenced the auction
campaign only able to do private inspections, but an early relaxation of restrictions allowed us to conclude with the auction on-site. We had four registered bidders on auction day which created a competitive environment. Two bidders in particular went bid for bid with over 25 bids in total. The property sold under the hammer for $856,000 which was a street record by $41,000. Inspections Offers Sale Price
31 Three $856,000
10 Cooba Close, Buderim
The best part was that both parties were able to get on with their lives and pursue their dreams. The Private Online Auction allowed us to have our buyers online with the support of their family (who very much wanted to see Mum & Dad win) and our seller in a separate office beside our Auction area to make decisions in real time. Inspections Offers Sale Price
10 Two $850,000
Buyer Inspections APRIL
MAY
JUNE
729
2,008
2,339
0
365
551
total inspections
total inspections
total inspections
due to COVID-19 restrictions
number of open homes
number of open homes
602
1,087
1,473
exclusive agency inspections
exclusive agency inspections
exclusive agency inspections
127
646
1,078
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | Apr-Jun 2020
5,076
total inspections
916
number of open homes
3,162
exclusive agency inspections
1,851
buyer inspections at auctions
• Covid restrictions limited the volume of buyer inspections in April 2020, however inspection numbers quickly rebounded in May to back over 2000. • By the end of June and with the continual easing of restrictions, buyer inspection numbers again rose to in advance of pre-covid levels.
Who is Buying? APRIL
MAY
79%
JUNE
73% 27%
78%
81% 19%
21%
QUARTER COMBINED | APR-JUN
22%
• Owner occupiers continue their dominance in securing 78% of the sold property over the quarter.
Owner Occupiers
Investors
More Auctions. More Advertisements. INSPECTIONS ADVERTISED QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in April, May and June 2020
Taken from final week ending in April, May and June 2020
25
800 700
23
653 20
600 500
15
400 10
300 200
5
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 APRIL
M AY
JUNE
37
47
60
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
308 37 12% 47
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
319 47 15% 50
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
292 60 21% 97
QUARTER COMBINED | Apr-Jun
QUARTER COMBINED | PREVIOUS QUARTER
144
204
TO
TO
TA L S O L D
• The amount of property on the market has remained consistent over the last two quarters (January to June).
TA L S O L D
Number on Market
306
Number on Market
299
Total Sold
144
Total Sold
204
90 Day Success (%)
47%
90 Day Success (%)
68%
Average Days on Market
65
Average Days on Market
81
• Although the success rate of sale of Exclusive Agencies dropped to 47%, we still recorded 144 sales during this Covid affected period of time which is a remarkable outcome considering what the early indications were.
Property Management APRIL
MAY
JUNE
105
94
86
properties leased
properties leased
properties leased
29
26
16
average days on market
average days on market
average days on market
98%
99%
99%
occupancy rate
occupancy rate
occupancy rate
Introducing... Ray White Buderim 07 5445 6088 buderim.qld@raywhite.com Ray White Kawana 07 5354 6012 kawana.qld@raywhite.com
Real time residential market insights, updated weekly • Market resilience • Selling in the current environment
Ray White Maroochydore 07 5443 2000 maroochydore.qld@raywhite.com
• Why are sales so strong now?
Ray White Mooloolaba 07 5444 3455 mooloolaba.qld@raywhite.com
• Why is there so much buyer confidence now?
• Why should I list now?
• How has COVID-19 reshaped the selling process?
Ray White Nambour 07 5354 6000 nambour.qld@raywhite.com Ray White Noosa River 07 5449 8800 noosariver.qld@raywhite.com Ray White Sippy Downs 07 5354 6002 sippydowns.qld@raywhite.com
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Š 2020
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