Market Monitor April - June 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 April to June 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 APRIL
84%
M AY
JUNE
69%
64%
SUCCESS
SUCCESS
SUCCESS
Auctions
54
Auctions
Sold
43
Sold
Auctions
22
9
Sold
14
13
Withdrawn
3
Withdrawn
0
Withdrawn
0
Success (%)
84%
Success (%)
69%
Success (%)
64%
Clearance
43%
Clearance
46%
Clearance
50%
Days on Market
25
Days on Market
41
Days on Market
33
Registered Bidders
127
Registered Bidders
24
Registered Bidders
62
Pre Auction Offers
19
Pre Auction Offers
6
Pre Auction Offers
8
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.77% 3.76%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.45% 1.64%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.68% 1.95%
QUARTER COMBINED | APR - JUN
PREVIOUS QUARTER COMBINED AS AT 30 JUNE
• With 213 registered bidders across the 89 auctions, we saw an average of 3 bidders register at each auction.
72%
90%
SUCCESS
SUCCESS
• Days on market (time to sell by auction) dropped from 43 to 33 days in the most recent quarter, largely a result of pre-auction offers and sales. • Pre-auction offers were up 33 versus 25 on the previous quarter.
Auctions
89
Auctions
56
Sold
66
Sold
48
Withdrawn
3
Withdrawn
2
Success (%)
72%
Success (%)
90%
Clearance
46%
Clearance
56%
Days on Market
33
Days on Market
43
Registered Bidders
213
Registered Bidders
186
Pre Auction Offers
33
Pre Auction Offers
25
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-0.97% 2.45%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.44% 3.14%
• Sellers continue to discount very little, if at all, on their expectations as buyers compete and on average pay more at auction. • At the end of the most recent quarter, 66 of the 89 Auctions were sold. In comparison to the previous quarter results they are recorded as slightly higher, 72% versus 90% because more time has passed allowing for post auction sales to be recorded.
Auction Success Stories
8 Rose Ash Crescent Noosaville
Our sellers are a young family who, having to get their impeccably renovated home sold.
The bidding was competitive and resulted in a sale price above the reserve and set a record sale price for the street.
On Auction day there were five registered bidders with a further three buyers hoping for the property to pass in so they could place conditional offers post auction.
The happy buyers are a also a young family and have said this home will serve them brilliantly and they can not wait to start this next chapter of their lives in their new home.
made the move closer to the beach, were keen
Sale Price
$560,000
Inspections
30 groups
Prior Offers
Four
This property was one of the first built within the original Mountain Creek estate and has been an investment property for over 20 years. Our seller is a School Principal who lives in regional ACT and our buyers have recently moved from Tasmania to the Sunshine Coast with their young family. He is a builder and is planning to add value to the property with a renovation.
Right from the start there was plenty of interest in this property with over 60 inspections, several written offers and come Auction day we had three bidders with a crowd of about 30 onlookers.
Sale Price
$511,000
Inspections
61 groups
Prior Offers
Three
31 Dalby Street, Maroochydore This property was purchased by the owners 41 years ago for use as their holiday home. After moving into the
2 Haddys Close Mountain Creek
property 27 years ago to enjoy as their home, the time had come to move into a retirement village and enjoy life without the constraints of maintaining a property. Despite the drizzling rain, most of the neighbourhood came to watch the auction. With umbrellas everywhere, the auction call commenced with six bidders starting off strong, and the final two fighting it out, hoping to be the new Maroochy Beachside residents. The buyers are a couple from Sydney who are looking to move to the Sunshine Coast but in the meantime will renovate the property for rent until they are ready to make the move north.
Sale Price
$455,000
Inspections
43 groups
Prior Offers
Two
Buyer Inspections APRIL
MAY
JUNE
1319
1525
889
total inspections
total inspections
total inspections
394
382
374
number of open homes
number of open homes
number of open homes
246 private inspections
311
private inspections
384
697
494
598
buyer inspections at auctions
buyer inspections at auctions
private inspections
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | APR - JUN 2017
3733
total inspections
1150 number of open homes
941
private inspections
1789
buyer inspections at auctions
• 47.9% of all buyers viewed our auction properties. With 89 Auctions in the reporting period, these campaigns saw 4x the buyer inspections compared to properties marketed with a price. • With 1,150 open homes conducted in the period, it is proof that buyers need convenient inspection opportunities 75% of all inspections are conducted at an Open Home.
Who is Buying? APRIL
MAY
65%
35%
JUNE
67%
55%
33%
QUARTER COMBINED | APR - JUN
37%
45%
63%
We are starting to see more investors enter the market. June recorded the most investors in over two years, purchasing 45%. Owner occupiers remain the dominant buyer group, accounting for 63% of all sales.
Owner Occupiers
Investors
More Auctions. More Advertisements.
100
PICTORIAL ADVERTISING QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in April, May and June 2017
Taken from final week ending in April, May and June 2017 80
100
70
78
80 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 APRIL
M AY
JUNE
43
54
41
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
287 43 15% 50
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
287 54 19% 54
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
306 41 13% 71
QUARTER COMBINED | APR - JUN
QUARTER COMBINED | PREVIOUS QUARTER
118
138 TO
TO
TA L S O L D
TA L S O L D
• Stock numbers rose slightly in the reporting period, up to 293 from 247 prior.
Number on Market
293
Number on Market
247
Total Sold
138
Total Sold
118
90 Day Success (%)
47%
90 Day Success (%)
48%
Average Days on Market
58
Average Days on Market
61
• Sale numbers also rose inline with stock numbers, up from 118 to 138 in the reporting period. • When you combine both the auction sales and private treaty sales, our network of offices sold 227 properties over the 90 days.
Property Management APRIL
MAY
JUNE
59
70
90
properties leased
properties leased
23
15
properties leased
19
average days on market
average days on market
average days on market
99%
98%
99%
occupancy rate
occupancy rate
occupancy rate
Community Fun Days! What an Egg-cellent Easter! Our offices and staff provided lots of Easter fun in their communities with an Easter Egg Hunt and Colouring-In Competitions. Of course, the prizes were lots of chocolate goodies and one lucky winner won a yellow bike. Winner, winner - who had a choccie dinner?
18-20 August, 2017
We’ve got your back. It’s our way of giving back. Maroochydore | Sippy Downs | Buderim | Mooloolaba | Noosa | Noosa River
Sunshine Coast Marathon 2017 There is still time for you to become part of the Sunshine Coast Marathon, 18 to 20 August 2017. Head to www.sunshinecoastmarathon.com.au for all the information on this years event. We are proud sponsors of the 500+ Ray White Volunteers who ensure that everyone has the best possible experience on race day. Our staff will be there running and volunteering, or both!
Š 2017
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