Market Monitor April-June 2021
Voice of Property on the Sunshine Coast
Coastal Living Offices
Ray White Buderim
Ray White Kawana Waters
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 2021. 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
97%
90%
SUCCESS
SUCCESS
SUCCESS
Auctions
31
Auctions
59
Auctions
49
Sold
28
Sold
57
Sold
44
Withdrawn
0
Withdrawn
0
Withdrawn
0
Success (%)
90%
Success (%)
97%
Success (%)
90%
Clearance
77%
Clearance
83%
Clearance
80%
Days on Market
22
Days on Market
25
Days on Market
22
Registered Bidders
107
Registered Bidders
211
Registered Bidders
198
Pre Auction Offers
43
Pre Auction Offers
70
Pre Auction Offers
71
% Lift on Reserve
0.65%
% Lift on Reserve
0.51%
% Lift on Reserve
1.06%
% Lift from Highest Pre Auction Offer to Sale
6.28%
% Lift from Highest Pre Auction Offer to Sale
5.06%
% Lift from Highest Pre Auction Offer to Sale
4.57%
QUARTER COMBINED | Apr-Jun
PREVIOUS QUARTER COMBINED AS AT 30 June
93%
99%
SUCCESS
SUCCESS
• The last 90 days saw a greater percentage of sellers decide to list their property to auction (139 v 78) as compared to the previous quarter due to the extreme buyer demand underpinning the market. • 516 registered bidders across the 139 auctions created strong competition with an average of 3.7 bidders per auction.
Auctions
139
Auctions
78
Sold
129
Sold
77
Withdrawn
0
Withdrawn
0
Success (%)
93%
Success (%)
99%
Clearance
80%
Clearance
74%
Days on Market
23
Days on Market
WHAT THESE FIGURES SHOW
28
Registered Bidders
516
Registered Bidders
328
Pre Auction Offers
184
Pre Auction Offers
113
% Lift on Reserve
0.74%
% Lift on Reserve
2.02%
% Lift from Highest Pre Auction Offer to Sale
5.30%
% Lift from Highest Pre Auction Offer to Sale
6.74%
• The clearance rate of 80% selling at auction and a further 93% overall sales success rate shows just how ‘in demand’ local property is. • Buyers are continuing to on average pay over 5% more for property on auction day as compared to their pre-auction offers.
Auction Success Stories
1104/1-7 Duporth Avenue, Maroochydore Despite the higher price tag this penthouse proved again why we take properties to auction and why they work.
17 Neerim Drive, Mooloolaba This home was one of the first to be built in the street by the original owner and has only ever had two owners, transacted by our agent both times. Our seller had originally planned to knock down and rebuild but settled into the charm of the location and never got around to rebuilding. With the significant land value increase building a residence to do the address justice became impractical for his situation. The buyers originate from Brisbane and intend to in time relocate and build a new residence, creating a lifestyle home fitting of the location.
The property was destined to go to auction and received a strong response during the four week campaign, engaging interest from Queensland, New South Wales, Victoria, Fiji, Singapore, USA and Hong Kong. Approximately 100 buyers, neighbours and property enthusiasts turned out to the auction which saw seven registrations and five very active bidders. Inspections: Offers: Sale Price:
37 Two $3,050,000
Our buyers are a lovely local couple moving from Twin Waters to be closer to the action and enjoy a maintenance free living. For our valued owner this was the second property we had the privilege of selling with their last home being in Buderim around four years ago. Both retiree couples are excited to move onto the next step in their lives. On auction day the typical bidders arrived as if on cue; the wealthy owner who registered to bid seeing it the first time that day, the frustrated buyers from past auctions who’d missed out and the speculators interested in a
‘value buy’. At $1.5 million the bidding was slow and drawn out at the end as two resilient buyers battled it out with just one thousand dollar bids. Covering the $20,000 difference between $1.5m and the sale price of $1.521m with a battle between two similar buyers. A clear and obvious sign we achieved the best price from the market. Inspections: Offers: Sale Price:
34 One $1,521,000
The sellers have lived in the property for 21 years and
Inspections:
30
Offers:
Three
Sale Price:
$718,000
now that their children have all grown up and flown the coop, they decided it was time to move forward. The buyer is a Sunshine Coast local from Diddillibah who is looking forward to moving in with his son and daughter. He arrived as the auction was starting, having not seen the property at all but he loved what he saw on the signboard out the front. Auction day started off slow, with two of our ‘highest’ bidders pulling out as it commenced. We had two of the main bidders on phones from Newcastle and Sydney. The property was called on the market at $520,000 which took bidding from slow to a quicker tempo and sold under the hammer at $546,000. Inspections: Offers: Sale Price:
71 Twelve $546,000
88 Glenview Road, Palmview Our sellers, Margaret and Frank had sold a property with our agent many years ago in Wurtulla and Frank had said if they would ever sell again they would call him. Unfortunately Frank had passed, Margaret called and said the home was getting a little too big for her to manage and it was time to sell.
6 Magpie Street, Nambour
We elected to go to auction and the campaign saw all of the buyers inspecting being locals to the coast. We had 30 groups of buyers inspect and at our second last inspection we had Tom and Kath from Maroochydore come through for a twilight viewing. They showed good interest but wanted to see the home through the day.
Tom and Kath registered along with two other local buyers. Bidding started at $620,000 and quickly rose to $670,000 with two bidders, then our third registered bidder came in at $680,000 and up to $695,00. We had a slight pause to the auction to have a conversation with the owner about the bidding and some advice around the buyers. We received an increase from the highest bidder to $715,000 and the property was on the market. A late surge to $716,000 nearly secured the property but Tom and Kath came back to secure the property at $718,000. They are happy that they now have a good property and a home for their active dogs.
Situated in a tightly held pocket of Noosa Parklands, with just three property transactions in the street and close by in the past 20 years, this property was sure to create a lot of interest. Our sellers have a close relationship with our agents and were guided by their feedback throughout the campaign and were very easy to deal with. They had tried selling the home “off market” with another agent a few times in the past 12 months. They are excited with the result and are planning a trip around Australia. A short three week campaign attracted three offers prior to auction day with two of those three buyers registering to bid. The purchasers are a young family, who interestingly run a Safari business in Africa and due to the current state of the world have been based in Australia. This was their first property purchased in Australia and also at auction. They were very nervous at the time but are now happy with their new home. Inspections:
24 Cedarleigh Drive, Tewantin
This coastal acreage nestled behind the idyllic beaches of the Sunshine Coast is a real hidden treasure. The property was a family home for over 25 years, the seller was downsizing and will remain in the Bli Bli community. The buyers are a local family. Over 100 people attended on Auction day, including neighbours, Sunshine Coast and Brisbane buyers as well as interstate buyers were present at the Auction. The opening bid commenced at $1,000,000 and saw seven buyers competing to take bidding to $1,330,000 and then two parties fought it out to eventually sell under the hammer at $1,364,000. Inspections: Offers: Sale Price:
86 Three $1,364,000
67 Sports Road, Bli Bli
47
Offers:
Three
Sale Price: $960,000
Where do our Buyers Come From? APRIL
MAY
JUNE
Sunshine Coast 66.1%
Sunshine Coast 54.5%
Sunshine Coast 59.2%
Brisbane 14.3%
Brisbane 9.1%
Brisbane 12.7%
NSW 12.5%
Regional QLD 4.5%
Regional QLD 5.6%
VIC 12.5%
NSW 15.2%
NSW 12.7%
VIC 9.1%
VIC 5.6%
ACT 6.1%
International 1.4%
NT 1.5%
Inter and Intra state migration continues to underpin buyer demand for property on the Sunshine Coast. Greater than 40% of purchasers are coming from outside our area with up to 30% coming from other states.
Buyer Inspections APRIL
MAY
JUNE
2,278 total inspections
2,491
total inspections
2,346
404
380
403
750
757
568
number of open homes
number of open homes
total inspections
number of open homes
exclusive agency inspections
exclusive agency inspections
exclusive agency inspections
1,609
1,712
1,775
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | Apr-Jun 2021
7,115
total inspections
1,187 number of open homes
2.075
exclusive agency inspections
5,096
buyer inspections at auctions
Our buyer inspection numbers keep surpassing previous records; in the last quarter our teams conducted in advance of 7,000 buyer inspections. When you consider which properties buyers are viewing, it’s the properties that are going to auction that are creating the most amount of interest with over 5,000 viewings recorded against the 139 campaigns, this is an average of 36 viewings per auction campaign.
Exclusive Agency Sales Report APRIL
M AY
JUNE
62
49
56
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
275 62 23% 30
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
266 49 18% 35
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
240 56 23% 34
QUARTER COMBINED (average) Apr-Jun
QUARTER COMBINED (average) PREVIOUS QUARTER
167
83
TO
TO
TA L S O L D
Number on Market
260
Number on Market
Total Sold
167
Total Sold
90 Day Success (%)
64%
90 Day Success (%)
Average Days on Market
33
It appears to be a ‘myth’ that there is less available property in the market today when you compare these two reporting periods.
TA L S O L D
Average Days on Market
208 83 40% 24
Proving the theory that there is plenty of surplus demand in the market, over the last 90 days we have maintained 260 properties on the market with 167 sales, compared to 208 listings and 83 sales the quarter prior.
Property Management APRIL
MAY
JUNE
59
82
59
properties leased
properties leased
properties leased
9
12
11
average days on market
average days on market
average days on market
99%
99%
100%
occupancy rate
occupancy rate
occupancy rate
The Coastal Living Auction Event is a high profile event and will attract a range of active buyers in one location, allowing you to put your property in front of the right buyers, in a high energy atmosphere created to sell your property. Our extensive network means you can have the highest confidence that we will produce a premium result for you in the current market.
The time is now. Contact us to be a part of The Auction Event 2021.
Scan for more information.
The Auction Event
m
Sunday, September 19
2021
The Ray White Coastal Living Network Maroochydore | Buderim | Mooloolaba | Kawana Waters Sippy Downs | Nambour | Noosa River
www.coastalliving.auction
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