Market Monitor October - December 2017
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 October to December 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 OCTOBER
NO
96%
VEMBER
DEC
EMBER
86%
64%
SUCCESS
SUCCESS
SUCCESS
Auctions
27
Auctions
22
Auctions
26
Sold
22
Sold
18
Sold
16
Withdrawn
4
Withdrawn
1
Withdrawn
1
Success (%)
96%
Success (%)
86%
Success (%)
64%
Clearance
52%
Clearance
41%
Clearance
42%
Days on Market
54
Days on Market
30
Days on Market
32
Registered Bidders
69
Registered Bidders
58
Registered Bidders
46
Pre Auction Offers
25
Pre Auction Offers
29
Pre Auction Offers
32
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.33% 5.45%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.54% 2.75%
% Lift on Reserve
0.35%
% Lift from Highest Pre Auction Offer to Sale
1.64%
QUARTER COMBINED | OCT-DEC
PREVIOUS QUARTER COMBINED AS AT 31 DECEMBER
WHAT THESE FIGURES SHOW
• A strong 6 month period of auction sales with 56 sold this quarter
81%
and 91 sold last quarter.
88%
• Buyers are paying more on auction day, averaging 3.28% more than the highest offer prior to auction.
SUCCESS
• December showed an average lift of
SUCCESS
0.35% on reserve price, with sellers discounting very little if at all over the
Auctions
75
Auctions
113
Sold
56
Sold
91
Withdrawn
6
Withdrawn
10
Success (%)
81%
Success (%)
88%
Clearance
45%
Clearance
56%
Days on Market
39
Days on Market
38
Registered Bidders
173
Registered Bidders
274
Pre Auction Offers
86
Pre Auction Offers
78
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.17% 3.28%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.95% 2.15%
quarter with an average of -0.17%.
Auction Success Stories
36 Maroubra Street, Maroochydore The owner of this property had lived there
Auction Day was massive to say the least.
The Auction got underway, with six active
for approximately 40 years and it was the
It was also grand final weekend for
bidders competing for the property. The
first time offered to the market. One story
AFL and NRL and our agent is a huge
sellers were overwhelmed with the final
that came from the owner before he passed
Richmond supporter. Registration of
result when the property sold for $780,000
away was that the Bee Gees played on the
bidders was energetic, with 27 registered
under the hammer. And to finish off a great
street before they became famous!
and 150 plus attending the auction.
day - Richmond won the Grand Final!
Inspections:
100
Offers:
None
Sale Price:
$780,000
Investor buys at first sight... don’t tell the wife! Our seller was an investor from the UK who owned
The lucky buyer, an investor from Brisbane, had been in contact with the marketing agent over the course of the campaign but had not viewed the property until the day of the Auction and had also not told his wife.
The bidding opened at $250,000 and crept up to $320,000. It was then a battle up to $342,000 and the hammer fell - right before a huge storm rolled in!
There were six registered bidders, all hungry for this sought after gem of a unit in a great street of Mooloolaba.
Inspections:
this unit for quite a number of years and decided the time was right for him to sell.
Offers: Sale Price:
16 Two $342,000
11/7-11 Edward Street, Alexandra Headland The previous owner’s wishes were for the proceeds from the sale of this property to be
4/15 Barooga Crescent Mooloolaba
donated to two charities close to his heart - The Heart Foundation and Synapse Australia. On Auction day we had close to 30 attendees, seven of which were registered to bid. Our successful bidders kicked off the auction with an opening bid of $450,000 and then the hammer fell on their bid of $540,000. The purchasers of the property are a lovely family from Victoria who plan to move to the Sunshine Coast in the near future. They were phone bidders on the day and their excitement when the hammer fell and the property was now theirs was deafening (literally)!
Inspections: 69 Offers: Two Sale Price: $540,000
Buyer Inspections OCTOBER
NOVEMBER
DECEMBER
1,079
1,162
697
total inspections
total inspections
total inspections
553
536
390
number of open homes
number of open homes
number of open homes
529
399 private inspections
332
private inspections
663
789
524
private inspections
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | OCT-DEC 2017
2,938 total inspections
1,479 number of open homes
1,260 private inspections
1,976
buyer inspections at auctions
With a total 2,938 buyer inspections for the quarter, 67% of all buyers viewed our 75 auction properties.
Who is Buying? OC TOBER
NOVEMBER
63%
37%
DECEMBER
67%
62%
33%
QUARTER COMBINED | OCT-DEC
36%
38%
64%
Owner occupiers remain the dominant buyer group accounting for 64% of all sales. December saw the highest % of investors purchase in the quarter.
Owner Occupiers
Investors
More Auctions. More Advertisements. PICTORIAL ADVERTISING QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in October, November and December 2017
Taken from final week ending in October, November and December 2017 50
80 70 60
68
40
50
44
30
40 20
30 20
10
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 OCTOBER
NO
VEMBER
DEC
EMBER
50
66
54
TO
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
302 50 17% 59
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
302 66 22% 69
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
308 54 17% 62
QUARTER COMBINED | OCT-DEC
QUARTER COMBINED | PREVIOUS QUARTER
144
170 TO
TO
TA L S O L D
TA L S O L D
Number on Market
304
Number on Market
307
Total Sold
170
Total Sold
144
90 Day Success (%)
56%
90 Day Success (%)
47%
Average Days on Market
63
Average Days on Market
74
• The 90 day success rate increased to 56% which supports our view that there are plenty of serious buyers wanting to secure property. • The average days on market decreased slightly from 74 last quarter to 63 days this quarter. • Our network of offices sold a combined total of 226 auction and private treaty sale properties over the 90 days.
Property Management OCTOBER
NOVEMBER
DECEMBER
97
106
64
properties leased
properties leased
properties leased
16
14
13
average days on market
average days on market
average days on market
99%
99%
99%
occupancy rate
occupancy rate
occupancy rate
Community Spirit A Little Ray of Giving We are fortunate to live on the Sunshine Coast in a community that has community spirit, and that’s even more so at Christmas when people like to give back. Once again this year, our offices took part in the Little Ray of Giving campaign, setting up their Christmas trees and accepting donations to help others have a merry Christmas. The continued generosity from the community and our staff has been getting bigger and better each year. As local businesses, we are deeply honoured and absolutely thrilled to be able to support families in our local community and help make their Christmas special.
Buderim Men’s Shed Rob Horne and our Buderim office recently supported the Buderim Mens Shed breakfast with Guest Speaker Allan Pease. The event was a great success, raising over $10,000 towards the building of the new Shed. Buderim Men’s Shed is a non-profit, non-commercial community organisation providing a safe and friendly meeting place for men to work on projects in the company of other men. A major objective of the Men’s Shed is to advance the health, wellbeing and social inclusion of all members through interest-based activities. They do this by welcoming men to meet and work on projects that are first and foremost personally satisfying and in many cases making an important contribution to the wider community.
Buderim 9 Challenge 9 Hills | 76 kms | 3 Hours Our Buderim office supports the Buderim 9 Challenge for two main reasons. Firstly the charity that it supports, the Cerebral Palsy League, and secondly because it is ‘so’ local which is very important to us. Buderim has a cool temperate climate and that comes from the elevation. This elevation is accessed by the 9 roads all ridden in the Buderim 9. For Brett Graham, Principal, and a local bike rider with a wide network in the cycling community, riding 1, 2 or 3 of these hills in any session is the norm. To bundle the 9 roads together as a cycling challenge and then use this challenge to support a great charity is just a brilliant idea that we are proud to be associated with. The proceeds from the Buderim 9 changes lives in a small but meaningful way of many families on the Sunshine Coast.
Š 2017
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