Market Monitor October-December 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 October to December 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
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raywhitesippydowns.com.au
Auction Report OCTOBER
NO
100%
VEMBER
DEC
EMBER
95%
88%
SUCCESS
SUCCESS
SUCCESS
Auctions
24
Auctions
21
Auctions
26
Sold
22
Sold
20
Sold
23
Withdrawn
2
Withdrawn
0
Withdrawn
0
Success (%)
100%
Success (%)
95%
Success (%)
88%
Clearance
76%
Clearance
73%
Clearance
54%
Days on Market
32
Days on Market
42
Days on Market
27
Registered Bidders
43
Registered Bidders
66
Registered Bidders
53
Pre Auction Offers
17
Pre Auction Offers
16
Pre Auction Offers
23
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.17% 1.12%
% Lift on Reserve
1.34%
% Lift on Reserve
0.76%
% Lift from Highest Pre Auction Offer to Sale
4.52%
% Lift from Highest Pre Auction Offer to Sale
1.74%
QUARTER COMBINED | Oct-Dec
PREVIOUS QUARTER COMBINED AS AT 31 December
94%
97%
SUCCESS
SUCCESS
• Extreme buyer demand is translating to a 94% sale success rate within the reporting quarter. • Sellers are currently being rewarded with sales prices generally above their reserve price, with an average of 0.31% above reserve across all 71 auctions conducted.
Auctions
71
Auctions
76
Sold
65
Sold
68
Withdrawn
2
Withdrawn
6
Success (%)
94%
Success (%)
97%
Clearance
68%
Clearance
56%
Days on Market
34
Days on Market
29
Registered Bidders
162
Registered Bidders
140
Pre Auction Offers
56
Pre Auction Offers
78
% Lift on Reserve
0.31%
% Discounting on Reserve
% Lift from Highest Pre Auction Offer to Sale
2.46%
% Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-0.47% 3.08%
• Bidder numbers are remaining strong despite some reported challenges of obtaining finance approvals with 162 bidders registering at an average of 2.2 per auction.
Auction Success Stories
1002 ‘Oceans’ 101-105 Mooloolaba Esplanade, Mooloolaba This amazing penthouse is one of only five located Mooloolaba with spectacular 180 degree ocean views.
Our buyers are a family from Melbourne who have stayed in ‘Oceans’ on multiple occasions, just loved the property and wanted a retreat to get away to.
Our sellers are a friendly, professional couple from Newcastle in NSW and had owned the property since 2017. Over the years they have got great enjoyment in the property but are now reinvesting in NSW.
The sellers originally purchased the property from our agent and were happy with the service they received and having a strong relationship over the years, he was given the opportunity to sell the property.
atop a 5 Star Boutique Resort, on the waterfront at
Inspections:
48
Offers:
None
Around 50 inspections both virtual and physical were conducted by interested parties from all over the country and New Zealand. Auction day was lively, with bidding starting at $1.55 million, moving quickly to $1.775 million and with the final bid of an extra $2500 the property was sold under the hammer.
Sale Price:
$1,777,500
Positioned in an extremely sought-after area, surrounded by quality homes, close to popular schools and on a flat block; this home attracted very high enquiry levels. Our buyers have not long lived on the Sunshine Coast but have children living in the area. This open plan home with a fabulous entertaining area and side access for the boat ticked all of the boxes for the lucky bidders. With a very successful marketing campaign, this home saw high open home inspection numbers and enquiries, plus three offers presented prior. A crowd of approximately 40 gathered on auction day with six registered bidders and five actively bidding, the hammer fell at $840,000.
Inspections: Offers: Sale Price:
69 Three $840,000
80 Mountain Creek Road, Buderim
Modern contemporary family home, perfect for entertainers, with panoramic views of the coastline from almost all rooms and living spaces. Our buyers are a young family relocating from Melbourne with two kids who want to enjoy the Coastal lifestyle. They own a landscape photography company and plan to operate the business from home and the kids are very excited about being so close to the beach. Around 15 groups attended on auction day including neighbours and bidders. Bidding started at $1m and quickly rose to $1.3m. The Auction was paused to negotiate to $1.4m and the property was offered back to the market and sold to our Melbourne buyers under the hammer. Inspections: Offers:
11 Donovan Place, Maroochy River
Sale Price:
23 Four $1,400,000
The property was quite popular but some buyers had concerns about flooding which was highlighted because the waterways were easily seen from the home, but in reality it was the same as anywhere else on the coast. Nobody could articulate the price for the property but the owner had only hoped he would get the $510,000 he paid for it. The buyer is a local adventure enthusiast who loved the block size and the location close to the water. This pocket of properties is also secluded and quite unique. Some buyers needed a lot of assistance with finance and some were referred to our Loan Market department days before the auction which resulted in two extra bidders. There was a healthy crowd on auction day and five registered bidders including one we were not expecting who arrived on the day. Inspections: Offers: Sale Price:
3 ‘Mariner On the Pacific’ 10-12 Marina Walk, Alexandra Headland This is a unique property being ground floor, with a front balcony with ocean views and huge exclusive use rear deck as well as common use of roof top area. The three owners had inherited this property from a relative. It had been an investment property that was rented to a family member for years. The successful bidder was a Brisbane doctor who will holiday let the property initially while using it herself to have a break and may ultimately move in at a later date. This property was hotly contested, with two offers in the first week it was apparent it wasn’t going to sell prior to auction. The owners trusted in the auction process and with 11 registered bidders, competition was fierce on auction day, ending in a result that was over $250,000 better than the last apartment sale in the building. Inspections:
135
Offers:
Two
Sale Price:
$1,000,000
24 Waterview Crescent, Bli Bli
53 None $623,000
Where do our Buyers Come From? OCTOBER Sunshine Coast 72.6% Brisbane 10.5%
NOVEMBER Sunshine Coast 73.7%
Sunshine Coast 65.3%
Brisbane 10.1%
Brisbane 9.9%
Regional QLD 2.0% Regional QLD 3.2% North QLD 1.6% NSW 7.3% VIC 4.8%
DECEMBER
North QLD 2.0% NSW 4.0% VIC 6.1%
Regional QLD 2.0% North QLD 4.0% NSW 5.9%
SA 1.0%
VIC 11.9%
International 1.0%
WA 1.0%
South East Queensland remains the most popular origin for buyers purchasing on the Sunshine Coast. It is interesting to note that less than 20% of purchasers are from interstate despite recent media speculation suggesting this market to be more dominant.
Buyer Inspections OCTOBER
NOVEMBER
DECEMBER
2,492
2,188
1,149
total inspections
total inspections
total inspections
504
499
244
number of open homes
number of open homes
number of open homes
1,746
1,504
exclusive agency inspections
829
exclusive agency inspections
761
623
341
exclusive agency inspections
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | Oct-Dec 2020
5,829
total inspections
1,247 number of open homes
4,079 exclusive agency inspections
1,725
buyer inspections at auctions
• Buyer demand has remained strong throughout the quarter with only a slight drop in the overall numbers in December being a shortened month. • It has not been uncommon to see Open Homes with over 30-40+ buyer inspections each weekend.
Exclusive Agency Sales Report OCTOBER
NO
100 TO
VEMBER
DEC
105 TO
TA L S O L D
95 TO
TA L S O L D
TA L S O L D
Number on Market
291
Number on Market
221
Number on Market
Total Sold
100
Total Sold
105
Total Sold
30 Day Success (%)
34%
30 Day Success (%)
48%
30 Day Success (%)
Average Days on Market
61
Average Days on Market
EMBER
50
Average Days on Market
188 95 51% 38
QUARTER COMBINED (average) Oct-Dec
QUARTER COMBINED (average) PREVIOUS QUARTER
100
77
TO
TO
TA L S O L D
• Available stock levels have declined a significant 35% at the end of December 2020.
TA L S O L D
• Reduced supply of property will only push demand on the available opportunity further in 2021. Number on Market
233
Number on Market
Total Sold
100
Total Sold
90 Day Success (%)
43%
90 Day Success (%)
Average Days on Market
50
Average Days on Market
287 77 27% 62
• December sales result of 51% success rate is considered ‘extraordinary’ in a market that is clearly favouring sellers.
Property Management OCTOBER
NOVEMBER
DECEMBER
91
78
69
properties leased
properties leased
properties leased
9
10
7
average days on market
average days on market
average days on market
100%
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 2021
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