Market Monitor January - March 2019
Voice of Property on the Sunshine Coast
Coastal Living Offices Ray White Buderim
Ray White Kawana
Ray White Maroochydore
Ray White Mooloolaba
07 5445 6088
07 5354 6012
07 5443 2000
07 5444 3455
raywhitebuderim.com.au
raywhitekawana.com.au
raywhitemaroochydore.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 2019. 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 Nambour
Ray White Noosa
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 River
Ray White Sippy Downs
07 5354 6000
07 5447 2021
07 5449 8800
07 5354 6002
raywhitenambour.com.au
raywhitenoosa.com.au
raywhitenoosariver.com.au
raywhitesippydowns.com.au
Auction Report JANUARY
FEB
71%
RUARY
MARCH
66%
62%
SUCCESS
SUCCESS
SUCCESS
Auctions
15
Auctions
30
Auctions
30
Sold
10
Sold
19
Sold
18
Withdrawn
1
Withdrawn
1
Withdrawn
1
Success (%)
71%
Success (%)
66%
Success (%)
62%
Clearance
20%
Clearance
23%
Clearance
37%
Days on Market
48
Days on Market
51
Days on Market
35
Registered Bidders
9
Registered Bidders
25
Registered Bidders
41
Pre Auction Offers
10
Pre Auction Offers
10
Pre Auction Offers
19
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.25% 1.92%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-2.09% 1.38%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.90% 1.69%
QUARTER COMBINED | Jan-Mar
PREVIOUS QUARTER COMBINED AS AT 31 March
65%
89%
SUCCESS
SUCCESS
• With a 65% success rate of sale, buyers are still demonstrating confidence in their decision to purchase residential property across the Sunshine Coast. • Average bidder numbers were at 1.0 per auction for the 75 conducted auctions, this was down from 1.4 over the previous quarter.
Auctions
75
Auctions
Sold
47
Sold
83
109
Withdrawn
3
Withdrawn
16
Success (%)
65%
Success (%)
89%
Clearance
27%
Clearance
34%
Days on Market
45
Days on Market
Registered Bidders
75
Registered Bidders
149
Pre Auction Offers
39
Pre Auction Offers
88
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.41% 1.66%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
46
-2.43% 3.93%
• Post auction sale activity remains very strong as properties unsold on the day of auction are often negotiated in the days after to a successful sale. January 2019 recorded a clearance of 20% but an overall success rate of sale at 71%.
On holidays in Japan and selling - no worries at all!
Auction Success Stories
Our seller, a young surfer originally from the Sunshine Coast, had owned the property for many years and lives in Byron Bay. Needing to sell his beachside investment property to purchase a home in Byron Bay, the sale was straight forward. A four week Auction campaign saw 12 buyers through with multiple secondary viewings. Auction day was a sizzling hot 33 degree Summer day. We had a good crowd and two registered bidders ready to go. A smart investor from Brisbane looking to purchase a solid investment, alongside a young local couple expecting their first child. The final bid of $1,000 got the young couple over the line and they were looking forward to move in, renovate and create their dream home within walking distance to the beach.
Retiree owners had made the decision to free themselves up and downsize to over 50’s lifestyle living and spend time travelling in their Wallaby motorhome. The young Sydney buyers had ambitions to raise their two daughters in a home like they grew up in. They also wanted to enjoy the Buderim lifestyle and be central to the grandparents.
2 Mackenzie Green, Buderim First built at Lutwyche in 1903, Mackenzie Green was later relocated to Buderim to enjoy commanding views of the Coral Sea and shipping lanes to Moreton Island. In keeping with the true Queensland spirit the home was extended in 2004 and lovingly restored to its former glory. The current owners also added a self contained studio in 2016 and spent many hours nurturing the cottage gardens making it a totally authentic and notable period home. Inspections: Offers: Sale Price:
Inspections:
With good interest from the first open house right through until Auction day, the home’s destiny was to find its right buyer, an owner that would fully appreciate its character. In the lead up to the Auction offers came forward from Sydney buyers relocating and another local couple based in Indonesia. Our sellers were committed to a result on the day itself and keen to sell to the highest bidder. After competition from the floor and over the phone it sold to the couple from New South Wales.
Offers: Sale Price:
39 Three $880,000
24 Kookaburra Crescent, Bokarina
12 Three $633,000
This high-set, post war home is steeped in history and impresses on arrival. The 45 metre frontage sets the tone, a mixture of well-established trees create a shady refuge and the open grassed area makes for a great cricket pitch. Our sellers from Brisbane had been using the home as their weekender and holiday home for over 30 years, and had decided as they don’t get up to the Sunshine Coast as much as they used to, it was time to move it on. Auction day went as expected drawing a huge crowd of 100+ attendees, a number of which were neighbours and a large number of buyers. With eight registered bidders, competitive bidding began and the property sold to buyers who plan to develop the large 1,695 sq m block. Inspections: Offers: Sale Price:
4-6 Fort Street, Buderim Our sellers had been long term Mountain Creek owners and built this home to retire to, they had over time decided the home was too big and were keen to downsize. Our buyers had been looking at homes in and around the Mountain Creek area for roughly 12 months. They instantly fell in love with the house and the floor plan, and said it was the home for them. Inspections: Offers: Sale Price:
We ran a solid campaign over five weeks, with a number of interstate and local buyers looking to attend the open homes and auction. On Auction day the scene was set with over 70 buyers in attendance and nine registered bidders, the bidding opened at $650,000 from the phone bidder. With consistent bidding from the interstate, local and the phone bidder, the home was announced on the market, with the two local buyers going head to head and the home selling under auction terms for $820,000. 99 Three $820,000
56 Brampton Crescent, Mountain Creek
85 Zero $850,000
Buyer Inspections JANUARY
FEBRUARY
MARCH
1902
1950
2214
total inspections
total inspections
total inspections
803
number of open homes
871
number of open homes
1050
1162
1051
1023
number of open homes
exclusive agency inspections
exclusive agency inspections
exclusive agency inspections
554
596
956
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | Jan-Mar 2019
6066 total inspections
2724 number of open homes
3236
exclusive agency inspections
2106
buyer inspections at auctions
• Comparable to 2018, our monthly buyer inspection numbers are again strong, recorded at around 2000 each month. • When it comes to a sales strategy, buyer inspections at auctions were recorded at 4.6 times higher than exclusive agency properties.
Who is Buying? JANUARY
FEBRUARY
79% 21%
MARCH
74%
QUARTER COMBINED | JAN-MAR
77%
77% 23%
26%
23%
• Owner occupiers continue to dominate the purchaser mix with 77% of all sales made to owner occupiers. • We have also identified that a good majority of owner occupiers are NOT selling existing property and are retaining existing properties as investments.
Owner Occupiers
Investors
More Auctions. More Advertisements. OPEN HOMES ADVERTISED QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in January, February and March 2019
Taken from final week ending in January, February and March 2019
80
1000
70
800
829
73
60 50
600
40
400
30 20
200 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.
Exclusive Agency Sales Report RUARY
JANUARY
FEB
53
43
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
440 53 12% 80
MARCH
60 TO
TA L S O L D
Number on Market
455
TA L S O L D
Number on Market
Total Sold
43
Total Sold
30 Day Success (%)
9%
30 Day Success (%)
Average Days on Market
93
Average Days on Market
492 60 12% 61
QUARTER COMBINED | Jan-Mar
QUARTER COMBINED | PREVIOUS QUARTER
156
165
TO
TO
TA L S O L D
TA L S O L D
Number on Market
462
Number on Market
396
Total Sold
156
Total Sold
165
90 Day Success (%)
34%
90 Day Success (%)
42%
Average Days on Market
78
Average Days on Market
71
• There is more property listed for sale today than we have seen in sometime. Over the last 90 days, we have seen an increase of 14% of available property. • Days on market have drifted out slightly to 78 days with buyers being offered more choice.
Property Management JANUARY
FEBRUARY
MARCH
110
147
119
properties leased
properties leased
properties leased
13
15
15
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 and we will set the pace again in 2019. As long term partners of the 7 Sunshine Coast Marathon we are back on board once again as the official Volunteer Sponsor for the 7 Sunshine Coast Marathon Festival 2019. This year the Ray White Volunteers and the Ray White Pacers will be back to do more of their incredible work, which is vitally important for all aspects of the 7 Sunshine Coast Marathon Festival. We are excited to be involved with this great community event and we hope that our
Volunteers and Pacers will continue to inspire others to be at their best on race day. In 2018, over 500 Ray White Volunteers poured into the event precinct in the dawn darkness to ensure every runner had the best possible experience on race day. If you are interested in becoming a Ray White Volunteer or would like to register to run in 2019 head to www.sunshinecoastmarathon. com.au to learn more.
Tradies BBQ In February we hosted our 10th Annual Tradies BBQ. This is a great opportunity for our offices to say thank you to our contractors for all the hard work they do for our Property Managers and their investors throughout the year. It was great to get together, enjoy a drink and a steak, and see so many familiar faces, some of which have been attending these BBQ’s for the past 10 years! We look forward to working with them all for many more years to come.
Š 2019
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