Market Monitor January - March 2018
Voice of Property on the Sunshine Coast
Coastal Living Offices
Ray White Maroochydore
Ray White Buderim
Ray White Mooloolaba
07 5443 2000
07 5445 6088
07 5444 3455
raywhitemaroochydore.com.au
raywhitebuderim.com.au
raywhitemooloolaba.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 2018. 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 Sippy Downs
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
Ray White Noosa River
07 5354 6002
07 5354 6000
07 5447 2021
07 5449 8800
raywhitesippydowns.com.au
raywhitenambour.com.au
raywhitenoosa.com.au
raywhitenoosariver.com.au
Auction Report JANUARY
FEB
100% 10
MARCH
84%
55%
SUCCESS
SUCCESS
SUCCESS
Auctions
RUARY
Auctions
35
Auctions
33
27
Sold
18
Sold
9
Sold
Withdrawn
1
Withdrawn
3
Withdrawn
0
Success (%)
100%
Success (%)
84%
Success (%)
55%
Clearance
57%
Clearance
36%
Clearance
60%
Days on Market
56
Days on Market
36
Days on Market
39
Registered Bidders
38
Registered Bidders
80
Registered Bidders
52
Pre Auction Offers
11
Pre Auction Offers
42
Pre Auction Offers
33
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.12% 2.46%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.77% 1.74%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.47% 1.24%
QUARTER COMBINED | JAN-MAR
PREVIOUS QUARTER COMBINED AS AT 31 March
73%
100%
SUCCESS
SUCCESS
• The market started 2018 as strongly as it finished 2017 with 170 registered bidders attending the 78 auctions that were conducted during the quarter, an average of 2.17 bidders per auction. • With over two bidders per auction on average, sellers enjoyed strong buyer competition which meant little discounting on their reserve price.
Auctions
78
Auctions
75
Sold
54
Sold
64
Withdrawn
4
Withdrawn
11
Success (%)
73%
Success (%)
100%
Clearance
51%
Clearance
Days on Market
44
Days on Market
45% 39
Registered Bidders
170
Registered Bidders
173
Pre Auction Offers
86
Pre Auction Offers
86
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.12% 1.81%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-0.44% 3.43%
• With an average clearance rate of 51%, auctions were almost three times more successful as a selling strategy rather than properties marketed with a price.
Auction Success Stories Situated on half an acre on top of Buderim, with two street frontages on two of the most sought after Buderim streets (Amaroo & Lindsay) and easily one of the largest usable blocks on top of Buderim - this architectually
We had huge interest, as the property has so many options which attracted a range of buyers. Lots of neighbours and locals came through, even the architect who originally designed the home in the 70’s!
69 Read Street, Tewantin
designed and renovated 1970s home, has views of Buderim’s cafes from the driveway and Mount Coolum from the kitchen. Our Sellers are empty nesters looking to move to the country, ironically the buyers are looking to downsize from the country and enjoy retirement in Buderim.
Sale Price
$1,020,000
Inspections
95 groups
Prior Offers
None
This immaculately presented home is located in Old Tewantin and was purchased 20 years ago by our seller, an elderly gentleman moving into aged care. The buyers are a young couple and first home buyers purchasing as an investment initially, with the intention of moving in later in the year. With online and print marketing, along with three open homes per week plus private inpsections, a lot of interest was generated and resulted in four registered bidders on the day, one of them viewing the property for the first time the night before the auction. With a crowd of about 50 people in attendance on auction day, bidding kicked off at $300,000 and the hammer fell with a sale price of $511,000.
24 Lindsay Road, Buderim
Sale Price
$511,000
Inspections
31 groups
Prior Offers
Two
Did you know? - Maroochy Sands was the very first high‑rise unit complex on the Sunshine Coast.
The buyers owned an apartment in the Maroochy Sands complex 11 years ago. Having only just begun their property search at the first meeting with our agents their timing wasn’t quite right, but this time around they were determined to secure an apartment back in one of their favourite locations on the Sunshine Coast. The husband was in China at the time of the Auction, so the wife jokingly said that we may or may not see her as a married woman tomorrow after she breaks the news to him!
The weather leading up to Auction day was without a doubt, the worst weather you could ask for. It definitely puts an agent’s skills to the test when trying to sell a property with views that you can’t even see. The week leading up to the auction, we were made aware that there was going to be major road closures on auction day, so a last minute time change was made. Little did we know, that if we had not made that time alteration, our eventual buyer would not have been able to attend the Auction as she had to be at the airport at the same time! Sale Price
$365,000
Inspections
20 groups
Prior Offers
None
47/110 Sixth Avenue, Maroochydore
6 Warana Street, Noosa Heads
Our sellers of this gorgeous leafy character home are a lovely older couple who were looking to downsize and move to a location closer to the services they need. Both the buyers & sellers were a pleasure to work with. They both had the end in mind - the sellers wanted to sell & the buyers wanted to buy! Auction day dawned as a wet and overcast day and didn’t improve along the way. So in between showers and our agent running up and down stairs a few times, the property was sold. Our sellers appreciated that they were able to make the decision to sell on the day. The buyers have relocated from Melbourne and this property ticked most of their boxes, being very livable but able to add their own touches, especially a pool. Sale Price
$850,000
Inspections
18 groups
Prior Offers
One
Buyer Inspections JANUARY
FEBRUARY
MARCH
1619
1078
1347
total inspections
total inspections
total inspections
471
353
782
number of open homes
number of open homes
number of open homes
518
494 private inspections
437
private inspections
660
618
676
private inspections
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | JAN-MAR 2018
4044
total inspections
1606 number of open homes
1449 private inspections
1954
buyer inspections at auctions
Advertised open homes remain the most popular method for buyers to view properties with 65% of buyer inspections conducted at open homes.
Who is Buying? JANUARY
FEBRUARY
64%
36%
MARCH
62%
63%
38%
QUARTER COMBINED | JAN-MAR
37%
37%
63%
Owner occupiers remain the dominant buyer group accounting for 63% of all sales.
Owner Occupiers
Investors
More Auctions. More Advertisements. PICTORIAL ADVERTISING QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in January, February and March 2018
Taken from final week ending in January, February and March 2018
80
100
92
70
80
68
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
48 TO
Total Sold 30 Day Success (%) Average Days on Market
MARCH
45 TO
TA L S O L D
Number on Market
RUARY
317 48 15% 58
56 TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
324 45 14% 74
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
336 56 17% 97
QUARTER COMBINED | JAN-MAR
QUARTER COMBINED | PREVIOUS QUARTER
149
170
TO
TO
TA L S O L D
TA L S O L D
• Our network of offices sold a combined total of 203 auction and private treaty sale properties over the 90 days, equating to over two sales per day.
Number on Market
326
Number on Market
304
Total Sold
149
Total Sold
170
90 Day Success (%)
46%
90 Day Success (%)
56%
Average Days on Market
76
Average Days on Market
63
• January offered the shortest selling time frame of the quarter, largely due to the availability of sellers and buyers during the holiday season. • The average days on market increased from 63 last quarter to 76 this quarter.
Property Management JANUARY
FEBRUARY
MARCH
92
101
82
properties leased
properties leased
properties leased
12
12
13
average days on market
average days on market
average days on market
99%
99%
99%
occupancy rate
occupancy rate
occupancy rate
Community Corner We’ve got your back - Noosa Dolphins & Noosa Pirates Our Noosa and Noosa River offices are proudly supporting the rugby community in Noosa. Ray White Noosa are proud to announce their commitment to the 2017 champions - Noosa Dolphins Rugby Union Club as their naming rights sponsor. Ray White Noosa River are also proud to announce their engagement as naming rights sponsor of the Noosa Pirates Rugby League Club. The season has kicked off and we are looking forward to a successful 2018 for both clubs. #gopirates #swimthephins
Easter Egg-stravaganza! Our staff were hopping about their communities providing lots of Easter fun with hundreds of eggs hidden for Easter Egg Hunts, Colouring-In Competitions and Family Fun days.
Of course, the prizes were lots of chocolate goodies and our two big winners of a surfboard and a yellow bike! An egg-cellent time was had by everyone!
Keeping Cool on Australia Day Thousands turned out to celebrate Australia Day at the Buderim parade. The day was a huge success and thanks to Ray White Buderim many of the participants including the Coastal Caring Clowns, were kept well hydrated, with our staff handing out chilled water. Great effort by Jenny, Judy, Sally and Rob in helping to keep everyone cool to last the distance in the sweltering heat!
Š 2018
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