January-March 2023
Monitor
Market
Voice of Property on the Sunshine Coast Coastal Living Offices Ray White Buderim 07 5445 6088 raywhitebuderim.com.au Ray White Kawana Waters 07 5354 6012 raywhitekawanawaters.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 2023.
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.
Inside these pages you will find a rich array of our collective data and results along with all of our auction outcomes 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 Maroochydore 07 5443 2000
Ray White Mooloolaba 07 5444 3455 raywhitemooloolaba.com.au Ray White Nambour 07 5354 6000 raywhitenambour.com.au
raywhitemaroochydore.com.au
Auction Report
J A N U A R Y 100% S U C C E S S F E B R U A RY
S U C C E S S M A R C H 66% S U C C E S S Auctions 18 Sold 16 Withdrawn 2 Success % 100% Clearance % 44% Days on Market 54 Registered Bidders 59 Registered Bidders per auction (average) 3.47 Pre Auction Offers 30 % Discount from Reserve -1.64% % Lift from Highest Pre-Auction Offer to Sale 8.86% Auctions 44 Sold 37 Withdrawn 2 Success % 88% Clearance % 64% Days on Market 43 Registered Bidders 144 Registered Bidders per auction (average) 4.11 Pre Auction Offers 61 % Lift from Reserve 0.86% % Lift from Highest Pre-Auction Offer to Sale 6.29% Auctions 58 Sold 38 Withdrawn 0 Success % 66% Clearance % 47% Days on Market 38 Registered Bidders 93 Registered Bidders per auction (average) 2.02 Pre Auction Offers 48 % Discount from Reserve -1.06% % Lift from Highest Pre-Auction Offer to Sale 1.62%
88%
QUARTER COMBINED | Jan-Mar PREVIOUS QUARTER COMBINED AS AT 31 March
WHAT THESE FIGURES SHOW
• Overall we have seen auction volumes fall by around 27% quarter on quarter. With the reduction in stock, buyer competition increased to an average of 3.2 bidders per auction and buyers paying over 5.5% more on Auction Day than prior to.
• The average time on market did extend to 45 days as opposed to 37, however this can be accounted for as some properties were launched in the week leading into Christmas 2022 and therefore remained on the market slightly longer over the Christmas period.
• Clearance rates of 52% and success rates of 78% remain well above industry averages.
S U C C E S S 95%
S U C C E S S Auctions 120 Sold 91 Withdrawn 4 Success % 78% Clearance % 52% Days on Market 45 Registered Bidders 296 Registered Bidders per auction (average) 3.20 Pre Auction Offers 139 Discount from Reserve -0.61% % Lift from Highest Pre-Auction Offer to Sale 5.59% Auctions 153 Sold 130 Withdrawn 16 Success % 95% Clearance % 47% Days on Market 37 Registered Bidders 251 Registered Bidders per auction (average) 2.44 Pre Auction Offers 183 Discount from Reserve -1.39% % Lift from Highest Pre-Auction Offer to Sale 2.92%
78%
Where do our Buyers Come From?
JANUARY
FEBRUARY MARCH
Sunshine Coast 56.9%
Brisbane 23.5%
NSW 2.0%
VIC 7.8%
Regional QLD 3.9%
North QLD 2.0%
ACT 2.0%
WA 2.0%
Local Residents are continuing to dominate the majority of purchases with Brisbane being the next best source of buyer enquiry. Commonly we find holiday homes and apartments are purchased by families who are within a 2 hour commute to the Sunshine Coast.
Sunshine Coast 53.3% Brisbane 10% NSW 13.3% Gold Coast 3.3% VIC 13.3% Regional QLD 3.3% International 3.3%
Sunshine Coast 71.4% Brisbane 16.3% NSW 4.1% VIC 4.1% Regional QLD 4.1%
January Auction Results as at March 31
WITHDRAWN 13 Dunwich Place Maroochydore SOLD 400 Cove Road Stanmore $2,600,000 SOLD 1006/6 Wharf Street Maroochydore $3,250,000 SOLD 11 Emperor Avenue Maroochydore $1,050,000 SOLD 151 Burnett Street Buderim $1,125,000 SOLD 33/81 Sixth Avenue Maroochydore $835,000 SOLD 1/1-3 Buderim Ave Mooloolaba $876,000 SOLD 45 Quiet Valley Buderim $1,160,000 SOLD 12/1 Mai Street Maroochydore $970,000 SOLD 42 Lurnea Crescent Mountain Creek $900,000 SOLD 10501/96 Memorial Avenue Maroochydore $1,050,000 SOLD 3/1 Pacific Boulevard Buddina $1,525,000 SOLD 8 Crenshaw Place Peregian Springs $1,100,000 SOLD 43 Columbia Street Sippy Downs $700,000 SOLD 56 Gilbert Street Buderim $1,140,000 SOLD 675 Browns Creek Road Eerwah Vale $1,234,567 WITHDRAWN 214/5 Bermagui Crescent Buddina SOLD 49/62-66 Sixth Avenue Maroochydore $1,270,000
February Auction Results as at March 31
FOR SALE 27 Tinnanbar Terrace Maroochydore
FOR SALE 96 Piringa Street Wurtulla
FOR SALE 34 Figtree Lane Maroochydore
UNDER CONTRACT 162 Neill Road Mooloolah
SOLD 1/14 Mallawa Crescent Buddina $1,650,000
SOLD 2/122 Point Cartwright Drive Buddina $770,000
SOLD 24/11 Panama Crescent Mountain Creek $1,125,000
SOLD 7a Yoomba Crescent Alexandra Headland $1,090,000
SOLD 57/20 Beach Parade Maroochydore $722,500
SOLD 9/16-20 Meta Street Mooloolaba $1,580,000
SOLD 5 Pear Court Buderim $1,200,000
SOLD 43/67 Regatta Boulevard Birtinya $525,000
SOLD 44 Boongala Terrace Maroochydore $770,000
SOLD 146 Oceanic Drive Warana $1,605,000
SOLD 5/134 Alexandra Parade Alexandra Headland $1,580,000
FOR SALE 68-78 Howard Street Nambour
SOLD 42 Hillcrest Avenue Nambour $565,500
SOLD 15 Wentworth Court Nambour $650,000
SOLD 3/3 Barnes Drive Buderim $705,000
SOLD 6 Loch Lomond Court Buderim $885,000
SOLD 2 Parkana Crescent Buddina $1,855,000
Street Buderim $950,000 UNDER CONTRACT 9 Shiraz Court Buderim SOLD 30 Palana court Buderim $781,000 SOLD 1005/67 Sixth Avenue Maroochydore $1,300,000 SOLD 2/75 Erbacher Road Nambour $547,000 SOLD 46 Isabella Avenue Nambour $625,000 SOLD 59 Ensbey Road Bald Knob $3,900,000 SOLD 9 Balance Place Birtinya $829,500 SOLD 402/14-20 Aerodrome Road Maroochydore $840,000 SOLD 3/27 Ridge Road Maroochydore $620,000 SOLD 12 Careela Street Mooloolaba $950,000 SOLD 17 Coonang Crescent Warana $910,000 SOLD 22/130 Alexandra Parade Alexandra Headland $3,300,000 FOR SALE 2 Oak Court Minyama UNDER CONTRACT 1/62-68 River Esplanade Mooloolaba SOLD 18 Baringa Street Warana $920,000
Bright Place Birtinya
Surf Road Alexandra Headland SOLD 3/4-6 Wyreema Terrace Caloundra $620,000 SOLD 7 Alkira Street Buddina $1,130,000 FOR SALE 95-97 Main Creek Road Tanawha SOLD 15/11 Jorl Court Buderim $547,000 SOLD 5/10 Pacific Boulevard Buddina $1,750,000
SOLD 16 Fielding
WITHDRAWN 25/12
WITHDRAWN 15
March Auction Results as at March 31
FOR SALE 44a Eckersley Avenue Buderim
FOR
14
SOLD 113 Nambour-Mapleton Road Nambour $468,000
SOLD 1/4 Sunshine Court Maroochydore $690,000
15 Palana Court Buderim
SOLD 1/17 Perina Street Warana $1,500,000
FOR SALE 2/75 Parkyn Parade Mooloolaba
SOLD 4-6 Woyin Street Alexandra Headland $1,427,000
FOR SALE 19 Admiralty Drive Alexandra Headland
FOR SALE 55 Albany Street Sippy Downs
FOR SALE 6 Glenhaven Court Palmview
FOR SALE 1 Kingfisher Crescent Palmview
SOLD 16/30-32 River Esplanade Mooloolaba $300,000
FOR SALE 1/81 Birtinya Boulevard Birtinya
SOLD 254/25 St Vincent Minyama $570,000
SOLD 6 Whitecap Court Bokarina $1,750,000
16/174 Alexandra Parade Alexandra Headland
FOR SALE 204/6 Wharf Street Maroochydore
SOLD 22 Ruby Crescent Meridan Plains $647,500
11/75 Sixth Avenue Cotton Tree
FOR SALE 12 Almaden Lane Maroochydore
FOR SALE 305/29-37 First Avenue Mooloolaba
SOLD 51 Glenview Road Glenview $1,090,000
SOLD 27 Statesman Circuit Sippy Downs $775,000
SOLD 2/28 Dalton Drive Maroochydore $545,000
FOR SALE 49/174 Alexandra Parade Alexandra Headland
SOLD 29/20 North Buderim Boulevard Buderim $470,000
SOLD 10 Cedar Place Yandina $855,000
SOLD 8/61A Burnett Street Buderim $485,000
SOLD 16 Atherton Close Buderim $1,400,000
SOLD 6 Happy Way Palmview $760,000
SALE
SALE
SALE
SOLD 15 Plantation Parade Buderim $825,000 FOR SALE
Pittards Road Buderim SOLD 20 Taree Court Kuluin $820,000 FOR SALE 220 Diddillibah Road Woombye SOLD 6/10-12 Maroubra Street Maroochydore $570,000 SOLD 205/21 Douglas Street Mooloolaba $625,000 SOLD 305/92 Sixth Avenue Maroochydore $1,085,000 FOR SALE 5/43 Dalton Drive Maroochydore SOLD 304/35-37 Cotton Tree Esplanade Maroochydore $1,370,000 SOLD 27 Gardenvale Drive Coes Creek $725,000 SOLD 7 Hall Court Burnside $816,000 SOLD 94 Nambour Mapleton Road Nambour $650,000 FOR SALE 64 Osborne Circuit Maroochydore FOR SALE 2/66-68 Broadsea Avenue Maroochydore SOLD 52 Undara Avenue Buddina $1,000,000 SOLD 32a & b / 19 Shine Court Birtinya $795,000 SOLD 9/57 Kingsford Smith Drive Cotton Tree $675,000 SOLD 69 Park Road Nambour $920,000 UNDER CONTRACT 102 Miran Road Kureelpa SOLD 12/10
SOLD
Buderim UNDER CONTRACT 47 Fitzwilliam Drive Sippy Downs $775,000
Greenlees Court Palmwoods FOR
87 Creekside Drive Sippy Downs FOR
167 Sippy Creek Road Tanawha
15
Pacific Boulevard Buddina $1,610,000 SOLD 6/133 King Street Buderim $480,000 SOLD 15/7 Figbird Crescent Buderim $560,000
99 Buderim Street Currimundi $702,000 FOR SALE 14/136 Stringybark Road
UNDER CONTRACT
UNDER CONTRACT
UNDER CONTRACT
Buyer Inspections
1,758 total inspections 1,879 total inspections 1,779 total inspections 413 number of open homes 486 number of open homes 490 number of open homes 901 exclusive agency inspections 844 buyer inspections at auctions 677 exclusive agency inspections 1,194 buyer inspections at auctions 571 exclusive agency inspections 1,107 buyer inspections at auctions JANUARY FEBRUARY MARCH
Buyer Inspections Total
5,416 total inspections
1,389 number of open homes
2,149 exclusive agency inspections
• Buyer demand continues to remain strong with over 5,400 inspections conducted over the quarter, this number peaked in Q3 2022 at just over 6,000 inspections.
• Over 3,000 buyers viewed our 120 auction campaigns during the quarter which offers an average inspection count of 26 enquiries per campaign. Compared to properties marketed with a price, we had 2,100 buyers view 165 properties on the market for an average of 13 enquiries. Auction campaigns are attracting 2x the average buyer enquiry.
3,145 buyer inspections at auctions
QUARTER COMBINED | Jan-Mar 2023
Exclusive Agency Sales Report
Number on Market 186 Total Sold 31 30 Day Success (%) 17% Average Days on Market 58 Number on Market 169 Total Sold 26 30 Day Success (%) 15% Average Days on Market 72 Number on Market 165 Total Sold 32 30 Day Success (%) 19% Average Days on Market 66 F E B R U A RY 26 M A R C H 32 TOT A L S O LD TOT A L S O LD TOT A L S O LD J A N U A R Y 31
We have seen a substantial change in the timeframe to sell properties on the market with a price, moving from 31 to 65 days over the most recent quarter. Our reasoning is two fold; negotiations between sellers and buyers are taking longer and buyer conditions are not always being satisfied and with contracts terminating, it’s taking longer to secure a second or third contract before the property is effectively sold.
TOT A L S O LD 71 TOT A L S O LD 89
Jan-Mar
QUARTER COMBINED (average)
QUARTER COMBINED (average) PREVIOUS QUARTER
Number on Market 173 Total Sold 89 90 Day Success (%) 51% Average Days on Market 65 Number on Market 199 Total Sold 71 90 Day Success (%) 36% Average Days on Market 31
Property Management
83 properties leased 55 properties leased 84 properties leased 12 average days on market 11 average days on market 17 average days on market 99% occupancy rate 99% occupancy rate 99% occupancy rate
JANUARY FEBRUARY MARCH
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