Jan Ma uary rch 20
Market Monitor
17
VOICE OF PROPERTY ON THE SUNSHINE COAST Ray White Maroochydore
Ray White Buderim
Ray White Mooloolaba
Ray White Sippy Downs
Ray White Noosa
Ray White Noosa RIver
1/4-8 Duporth Avenue
1/66 Burnett Street
1-3/13 Brisbane Road
Shop 15/18 University Way
1/37 Hastings Street
8/113 Poinciana Avenue
Maroochydore
Buderim
Mooloolaba
Sippy Downs
Noosa Heads
Tewantin
07 5443 2000
07 5445 6088
07 5444 3455
07 5354 6002
07 5447 2021
07 5449 8800
raywhitemaroochydore.com.au
raywhitebuderim.com.au
raywhitemooloolaba.com.au
raywhitesippydowns.com.au
raywhitenoosa.com.au
raywhitenoosariver.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 2017. 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 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.
Auction Report JANUARY
FEBUARY
MARCH
75%
81%
83%
SUCCESS
SUCCESS
SUCCESS
Auctions 17
Auctions 21
Auctions 18
Sold 12
Sold 17
Sold 15
Withdrawn 1
Withdrawn 0
Withdrawn 0
Success (%)
Success (%)
Success (%)
75%
81%
83%
Clearance 41%
Clearance 67%
Clearance 61%
Days on Market
34
Days on Market
51
Days on Market
45
Registered Bidders
41
Registered Bidders
83
Registered Bidders
62
Pre Auction Offers
6
Pre Auction Offers
12
Pre Auction Offers
7
-1.95%
% Lift on Reserve
0.26%
% Lift from Highest Pre Auction Offer to Sale
2.37%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.60% 1.76%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
5.14%
QUARTER COMBINED | JAN - MAR 2017
PREVIOUS QUARTER COMBINED | AS AT 31 DEC
WHAT THESE FIGURES SHOW
• Buyers are paying on average 3% more on auction day than the highest offer prior to auction.
80%
81%
SUCCESS
SUCCESS
• We have seen an increase in the average number of bidders per auction - with 3.3 bidders per auction this quarter, buyer competition is driving the strong success rate.
Auctions 56
Auctions 68
Sold 44
Sold 52
Withdrawn 1
Withdrawn 4
Success (%)
Success (%)
80%
81%
Clearance 56%
Clearance 49%
Days on Market
Days on Market
43
59
Registered Bidders
186
Registered Bidders
150
Pre Auction Offers
25
Pre Auction Offers
27
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.10% 3.09%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.52% 2.75%
• Our 80% success rate indicates that market conditions remain strong for sellers.
Auction Success Stories
11a Cottman Street Buderim
Cool and coastal in style and decor, yet situated on top of Buderim, 11a Cottman Street has been an exceptional place for the owners to raise their children and over the years watch them develop into budding surf lifesavers. The constant trips to the beach for board training and events brought about the need to say goodbye to Buderim and seek a home closer to their saltwater passion.
From day one of marketing the property, interest came quickly from many different areas, including the capital cities. A total of 21 groups attended the first open home inspection. A number of second and third inspections singled out the firm prospects in the lead up to the auction day. Brisk bidding after a start at $650,000 quickly rose to $770,000 before seeking instructions from the seller. Negotiations
continued until the home was sold under the hammer to a very excited local couple.
Sale Price
$795,000
Inspections
87 groups
Prior Offers
None
This home was constructed in 1976 and had undergone some extensive renovations to the exterior of the home including the construction of large stone feature walls and had great potential to renovate the interior of the home. The sellers are retired prominent business people and the buyers are first home buyers. The auction was held on Saturday 25 March
and the buyers were expecting their first child on Monday 27 March. Fortunately with all the excitement of the auction, the buyer did not go into early labour. The morning started out wet, however by midday the rain had cleared and a crowd of 25 were in attendance. We had three registered bidders ready for the auction to commence.
Bidding stalled at $635,000, an extended negotiation process took place, with happy buyers and sellers the property was sold.
Sale Price
$650,000
Inspections
28 groups
Prior Offers
None
11 Somerset Drive, Buderim 1/46-48 Alexandra Parade Maroochydore With over 120 groups attending open for inspections during the campaign, this property certainly attracted a lot of attention. On the day of the auction there were over 30 groups present and 16 registered bidders. One of the gentlemen who was bidding had arrived after the auction had started. He registered to bid and half way through the auction got the chance to have a look through the property and so was literally bidding sight unseen until then. The successful bidder on the day was a life member of Maroochydore Surf Club and has children who compete for the Club. They now have a very handy base to accommodate the family and enjoy their time on the Sunshine Coast. Sale Price
$628,000
Inspections
120 groups
Prior Offers
Two
Buyer Inspections JANUARY
FEBRUARY
MARCH
1503
1252
1224
292
276
263
342
279
276
total inspections
number of open homes
private inspections
712
buyer inspections at auctions
total inspections
number of open homes
private inspections
652
buyer inspections at auctions
total inspections
number of open homes
private inspections
482
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED  |  JAN - MAR 2017
3979 total inspections
831 number of open homes
897 private inspections
1846
buyer inspections at auctions
Of the 3979 buyer inspections conducted this quarter, 46% of these buyers viewed our 56 auction properties. On average auction properties are generating almost 3x buyer enquiry, as compared to properties marketed with a price.
Who is Buying? JANUARY
FEBRUARY
MARCH
66%
59%
QUARTER COMBINED | JAN - MAR 2017
37%
65% 35%
34%
41%
63%
Investors have gained momentum in the buying market, currently commanding 37% of all transactions. We often see more investors enter the market when the purchase price to rental return or yield looks more favourable.
Owner Occupiers
Investors
More Auctions. More Advertisements.
100
PICTORIAL ADVERTISING QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in January, February and March 2017
Taken from final week ending in January, February and March 2017 80
89
70
80
62
60 50
60
40
40
30 20
20 10
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.’
Private Treaty Sales Report JANUARY
FEB
TO
TAL SOLD
Number on Market Total Sold 30 Day Success (%) Average Days on Market
MARCH
30
53 TO
RUARY
248 53 21% 65
35 TO
TAL SOLD
Number on Market Total Sold 30 Day Success (%) Average Days on Market
250 30 12% 61
TAL SOLD
Number on Market Total Sold 30 Day Success (%) Average Days on Market
242 35 14% 58
QUARTER COMBINED | JAN - MAR 2017
QUARTER COMBINED | PREVIOUS QUARTER
118 TO
128 TO
TAL SOLD
TAL SOLD
Number on Market
247
Number on Market
254
Total Sold
118
Total Sold
128
90 Day Success (%) Average Days on Market
48% 61
90 Day Success (%) Average Days on Market
50% 60
The 48% success rate of sale through the quarter supports our view that we are in peak selling conditions and there are plenty of serious buyers wanting to secure property.
Property Management JANUARY
FEBRUARY
MARCH
92
87
84
properties leased
properties leased
properties leased
18
17
18
average days on market
average days on market
average days on market
99%
99%
99%
occupancy rate
occupancy rate
occupancy rate
Family Fun Days! Rainforest Sanctuary Family Fun Day On Saturday 25 March, Ray White Buderim and Chris Morrison were proud to present the Rainforest Sanctuary Family Fun Day. The vision for the day was to create a platform for neighbours to meet in a relaxed environment.
Bel Air Family Fun Day Noosa Surfing Festival 2017 Swell and tide dropping, wind elevating from the north, conditions were rapidly deteriorating as the Teams Challenge paddled out. With team members having to tag each other on the beach and a penalty imposed upon those not back in their team zone within the allotted 30 minutes, the Teams Challenge is always energised, and the 2017 final was no different. Leading for the entire heat, the Golden Breed team looked to be a shoo-in, but the internationalists of the Ray White Noosa team were charging, making it back to the sand with five seconds to spare. Silenced in anticipation, they waited for the final score, erupting in cheers as it was announced that they had won by the narrowest of margins, just 0.05 points, over the Golden Breeders. Great effort Ray White Noosa Team, we can’t wait to see you defend the title next year.
With the long summer days signalling the end of the holidays, what better way to fill the weekend than with some happy, carefree moments with family? Reuben Park and the friendly Ray White Maroochydore team ensured there was plenty to see and do at their new project, ‘Bel Air at Buderim’. Mums and Dads were able to unwind on the grass under a shady tree while the kids enjoyed a petting zoo, jumping castle, and live radio broadcasts. The free sausage sizzle kept everyone happy and, best of all, it was a time to relax. The event certainly proved popular with over 100 families enjoying the festivities and sunny weather.
The day was entirely free of charge and activities included a sausage sizzle, raffle to win a Ray White yellow bike, bouncing castle and loads of kids entertainment. Chris Morrison said, “It was an absolute pleasure to meet the locals who came out in droves and we would like to say thank you to them for supporting the event and making the day a great success”. We are looking forward to holding our next Ray White Buderim community event.
Š 2017
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