Market Monitor April - June 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 April to June 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 APRIL
75%
M AY
JUNE
85%
67%
SUCCESS
SUCCESS
SUCCESS
Auctions
65
Auctions
28
Auctions
40
Sold
43
Sold
22
Sold
26
Withdrawn
8
Withdrawn
2
Withdrawn
1
Success (%)
75%
Success (%)
85%
Success (%)
67%
Clearance
40%
Clearance
32%
Clearance
50%
Days on Market
50
Days on Market
50
Days on Market
56
Registered Bidders
85
Registered Bidders
59
Registered Bidders
68
Pre Auction Offers
50
Pre Auction Offers
26
Pre Auction Offers
38
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-2.57% 2.01%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-1.75% 3.49%
% Lift on Reserve % Lift from Highest Pre Auction Offer to Sale
+1.67% 3.73%
QUARTER COMBINED | Apr-Jun
PREVIOUS QUARTER COMBINED AS AT 31 June
75%
89%
SUCCESS
SUCCESS
Auctions
133
• We noticed a sharp market improvement in June with the majority of leading auction indicators rising above previous months in the quarter • Clearance rate in June jumped to 50% from 32% and 40% in the months prior, we believe buyers confidence spiked after the recent federal election result
Auctions
75
Sold
91
Sold
57
Withdrawn
11
Withdrawn
11
Success (%)
75%
Success (%)
89%
Clearance
41%
Clearance
27%
Days on Market
52
Days on Market
45
Registered Bidders
212
Registered Bidders
75
Pre Auction Offers
114
Pre Auction Offers
39
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
-0.88% 3.08%
% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale
WHAT THESE FIGURES SHOW
-2.15% 1.80%
• 212 registered bidders attended our 133 auctions in the quarter, despite market commentary on finance being harder to obtain; the volume of finance approved bidders increased on the previous quarter
Auction Success Stories
Our seller is a local lady who works for a prominent building group as their HR manager and property stylist. She has a natural flair for styling and her home demonstrated this beautifully. Our agent was delighted to have the pleasure of selling it for her. Our buyer from Sydney came up the week prior to the auction and viewed a total of 13 homes during her visit. This property was a stand out for her and her daughter to move into. We had two interested parties one local and our Sydney buyer. Continual contact was maintained with both potential buyers throughout the campaign while extra assistance was required with our Sydney buyer as she was unfamiliar with buying and auctions in Queensland. Our agent spent a lot of time ensuring the buyer was comfortable, understood the process and was in a position to bid come auction day. This support and assistance helped our buyer secure the home much to her delight and the delight of our seller. I nspections: Offers: Sale Price:
357 Diddillibah Road, Diddillibah It was the first time this 105 year old Queenslander, “Ferndale�, situated on 20 acres, was offered to the market as it has been in the same family for three generations. With lashings of potential to restore to its former glory we knew this property would create a lot of interest. Our agent met our sellers three years ago when he sold another property in Diddillibah. Our New Zealand buyers have renovated before and were looking for a new project. Inspections: Offers: Sale Price:
On auction day twenty family members came to witness the momentous occasion, when the property sold under the hammer for $687,000 with 12 registered bidders and a crowd of 150 people. 400+ Two $687,000
10 Yellow Fin Circuit, Mountain Creek
12 One $508,000
Our agent was contacted by the original owner of this home during the marketing campaign and he provided this old photo of the house being built and the 1979 legal documents of sale at $46,100. Auction day had five registered bidders and a crowd of 56 sprawled down the driveway, front lawn and across the street. Bidding commenced at $450,000 and stalled at $552,000. A late bidder registration reignited bidding and 42 bids were taken from the first bid. The property sold under the hammer for $625,000. Both the buyers and sellers were delighted. Our buyers are a local Mooloolaba family who wanted to secure the home for their children’s future. Inspections:
55
Offers:
Nil
Sale Price:
2 Agale Street, Mooloolaba
$625,000
The property has been in the same family since it was built in 1959. It’s not often we come across a character home where time has stood still. The kitchen is fitted with original retro cupboards and the house offers beautiful north east views from the lounge and terrace. Our seller and her husband built their dream home in 1959 and raised their two sons there, so a lot of memories have been established in this home and the majority of the large trees were collected as seedlings. Our buyer, who grew up in Nambour, holds an OAM, is a Surf Lifesaver and Australian kayaker who has won a complete set of medals at the Olympics. He will modify and modernise the home for his family to now create their own memories.
We received three offers prior to auction day ranging from $280,000 to $400,000. On the day we had six registered bidders and a large crowd curious to see the final result. Our Auctioneer held the audience attention and had them laughing, when a tennis match scenario occurred between two of the bidders until the hammer fell at $420,000. Inspections: Offers: Sale Price:
47 Three $420,000
50 Diddillibah Road, Woombye
Buyer Inspections APRIL
MAY
JUNE
2772
1781
2070
total inspections
total inspections
total inspections
1133
899
917
number of open homes
number of open homes
number of open homes
1338
795
1163
exclusive agency inspections
exclusive agency inspections
exclusive agency inspections
1175
793
812
buyer inspections at auctions
buyer inspections at auctions
buyer inspections at auctions
Buyer Inspections Total QUARTER COMBINED | Apr-Jun 2019
6623
total inspections
2949 number of open homes
3296
exclusive agency inspections
2780
buyer inspections at auctions
• 6623 buyer inspections shows the continued strength of the Sunshine Coast property market • Our 133 auction property campaigns attracted 2780 inspections in the same period at an average of 20 per property • Exclusive agency properties on average attracted just seven inspections over the same timeframe
Who is Buying? APRIL
MAY
67%
JUNE
65%
QUARTER COMBINED | APR-JUN
69%
75% 25%
33%
35%
31%
• 69% of the buying market remains consistently owner occupiers. This has been the common trend for some time; however we do believe that more owner occupiers are purchasing a new home and retaining their existing property as an investment. Owner Occupiers
Investors
More Auctions. More Advertisements. OPEN HOMES ADVERTISED QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in April, May and June 2019
Taken from final week ending in April, May and June 2019
80
1000
800
70
873
60
67
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 APRIL
M AY
JUNE
47
49
55
TO
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
471 47 10% 86
TO
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
456 49 11% 73
TA L S O L D
Number on Market Total Sold 30 Day Success (%) Average Days on Market
435 55 13% 98
QUARTER COMBINED | Apr-Jun
QUARTER COMBINED | PREVIOUS QUARTER
151
156
TO
TO
TA L S O L D
TA L S O L D
• Another strong quarter with over 150 properties sold across our Network Number on Market Total Sold 90 Day Success (%) Average Days on Market
454 151
33% 86
Number on Market
462
Total Sold
156
90 Day Success (%)
34%
Average Days on Market
78
• June was the strongest month during the quarter, however overall the last two quarters have been very consistent
Property Management APRIL
MAY
JUNE
91
109
90
properties leased
properties leased
properties leased
15
14
14
average days on market
average days on market
average days on market
99%
99%
98%
occupancy rate
occupancy rate
occupancy rate
Sell
with us
We are the Ray White Coastal Living Network. A collection of Ray White offices who share a common belief that together we are stronger, and your benefit is that we are able to offer you an unmatched opportunity when it comes to finding your prospective buyers and achieving the best price for your property.
As the Sunshine Coast’s largest real estate team with over 120 experienced staff, we have developed an intimate knowledge of the local market, meaning that we understand who your likely buyers will be and what will motivate their need for purchasing.
The Auction Event
m
Sunday, September 22 www.coastalliving.auction
Together we are stronger
2019
We believe in the power of competition and the premium price that is only truly uncovered once buyers are forced to compete for a property. While it is probable that through our extensive buyer database there maybe multiple buyers for your property, we won’t rely solely on our local market. We will expand your marketing reach both nationally and internationally to maximise the number of potential buyers. Our auction experience is ingrained within Ray White’s 117 year history, and locally our experience has been gained by continually conducting in advance of 400 property auctions each year. Our annual in-room Auction Event is a key pillar in our marketing calendar that we commenced in 2015. It is an event in which we have seen 195 properties auctioned with $84m in sales achieved. We take absolute personal responsibility and accountability for each and every auction we conduct which ensures you enjoy complete transparency that makes certain you are in a position to make the right decision.
We look forward to working with you.
Š 2019
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