January-March
2024 Market Monitor
Voice of Property on the Sunshine Coast
Coastal Living Offices Ray White Buderim 07 5445 6088 raywhitebuderim.com.au Ray White Kawana Waters 07 5354 6012 raywhitekawanawaters.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 2024.
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.
White Maroochydore
5443 2000 raywhitemaroochydore.com.au Ray White Mooloolaba
5444 3455 raywhitemooloolaba.com.au Ray White Nambour 07 5354 6000 raywhitenambour.com.au
Ray
07
07
J A N U A R Y 94% S U C C E S S F E B R U A RY 89% S U C C E S S M A R C H 79% S U C C E S S Auctions 15 Sold 14 Withdrawn 0 Success % 94% Clearance % 67% Days on Market 34 Registered Bidders 35 Registered Bidders per auction (average) 2.3 Pre Auction Offers 15 % Discount from Reserve -0.07% % Lift from Highest Pre-Auction Offer to Sale 4.57% Auctions 27 Sold 24 Withdrawn 0 Success % 89% Clearance % 81% Days on Market 41 Registered Bidders 62 Registered Bidders per auction (average) 2.3 Pre Auction Offers 29 % Discount from Reserve -0.26% % Lift from Highest Pre-Auction Offer to Sale 0.58% Auctions 75 Sold 58 Withdrawn 2 Success % 79% Clearance % 68% Days on Market 20 Registered Bidders 186 Registered Bidders per auction (average) 2.5 Pre Auction Offers 117 % Lift from Reserve 0.96% % Lift from Highest Pre-Auction Offer to Sale 2.49%
Auction Report
QUARTER
PREVIOUS QUARTER COMBINED AS AT 31 March
WHAT THESE FIGURES SHOW
• While the previous quarters results mirror each other in many areas, the feeling on the ground has been that bidder intensity has been stronger in 2024 than in 2023. This is reflected in the clearance rate nudging a record high 72% compared to 67% in 2023.
• Bidder intensity is also reflected in the fact that in the last quarter there was an average bidder count of 2.37 per auction.
• Average bidder counts have remained consistent over the last six months, hovering between two and three across over 200 auction campaigns.
• What is interesting to note is that while average bidders in the last quarter was at 2.37 the strongest clearance rate of 72% was achieved. What this shows is that buyers who are making the decision to buy are bidding strongly and reaching the sellers expectations.
S U C C E S S 93%
COMBINED | Jan-Mar
83% S U C C E S S Auctions 117 Sold 96 Withdrawn 2 Success % 83% Clearance % 72% Days on Market 32 Registered Bidders 283 Registered Bidders per auction (average) 2.37 Pre Auction Offers 161 % Lift from Reserve 0.21% % Lift from Highest Pre-Auction Offer to Sale 2.55% Auctions 100 Sold 90 Withdrawn 3 Success % 93% Clearance % 67% Days on Market 32 Registered Bidders 245 Registered Bidders per auction (average) 3.17 Pre Auction Offers 143 % Lift from Reserve 1.20% % Lift from Highest Pre-Auction Offer to Sale 3.72%
Where do our Buyers Come From?
JANUARY
Sunshine Coast 64.5%
Brisbane 9.7%
Regional QLD 6.5%
ACT 3.2%
NSW 6.5%
SA 3.2%
VIC 6.5%
Sunshine Coast 47.1%
Brisbane 13.7%
Regional QLD 13.7%
North QLD 2%
ACT 2%
NSW 9.8%
TAS 2%
VIC 5.9%
WA 2%
International 2%
FEBRUARY
MARCH
Sunshine Coast 65.2%
Brisbane 9.1%
Gold Coast 3%
Regional QLD 1.5%
ACT 3%
NSW 10.6%
SA 1.5%
VIC 6.1%
With as much as 35% of our buyers coming from out of the area locations, it suggests that the Sunshine Coast maintains its position as a desirable location for both value and lifestyle. This demand is critical if we are to continue to see increases in the median sale price.
SOLD 8/14-16 Camfield Street Alexandra Headland $645,000 SOLD 531/21 Wirraway Street Alexandra Headland $705,000 SOLD 201/118-120 Alexandra Parade Alexandra Headland $1,811,000 SOLD 329/10 Okinja Road Alexandra Headland $841,000 SOLD 5/13 Pacific Terrace Alexandra Headland $587,000 SOLD 22 Kestrel Street Aroona $735,000 SOLD 82 Adelaide Circuit Baringa $722,000 SOLD 7 Beerburrum-Woodford Road Beerburrum $679,000 SOLD 53/12 Bright Place Birtinya $605,000 SOLD 71/99 Birtinya Boulevard Birtinya $600,000 SOLD 58/101 Birtinya Boulevard Birtinya $467,000 SOLD 4 Mariposa Court Bli Bli $835,000 FOR SALE 7 Cutback Court Bokarina FOR SALE 9 Causeway Drive Brightwater FOR SALE 1/10 Boorook Street Buddina WITHDRAWN 514/5 Bermagui Crescent Buddina SOLD 19 Koorin Drive Buddina $1,210,888 SOLD 313/5 Bermagui Crescent Buddina $819,000 FOR SALE 3 Sam White Drive Buderim FOR SALE 24 Shrapnel Street Buderim SOLD 59 Deloraine Drive Buderim $1,105,000 SOLD 8 Lauren Drive Buderim $1,100,000 SOLD 6 Montage Court Buderim $925,000 FOR SALE 3/7 Box Street Buderim
Auction Results Jan-Mar as at March 31
SOLD 95 Alfriston Drive Buderim $1,160,000 SOLD 66 Toral Drive Buderim $1,850,000 SOLD 48 Mill Road Buderim $900,000 SOLD 4 Palmyra Crescent Buderim $1,270,000 WITHDRAWN 4 Kuranda Court Buderim FOR SALE 9 Nature Place Buderim SOLD 15 Fielding Street Buderim $991,000 SOLD 3 William Street Buderim $1,300,000 SOLD 1/9 Palmyra Crescent Buderim $1,000,000 UNDER CONTRACT 11 McGilchrist Road Eudlo SOLD 141-143 Parsons Road Forest Glen $1,265,000 FOR SALE 197 Glenview Road Glenview SOLD 19a Crows Ash Place Kuluin $813,000 SOLD 6 Peony Circuit Little Mountain $995,000 SOLD 2/205 Bradman Avenue Maroochydore $627,000 SOLD 34 Wurtulla Street Maroochydore $900,000 FOR SALE 7 Timana Lane Maroochydore SOLD 2214/100 Duporth Avenue Maroochydore $860,000 SOLD 7/86-88 Sixth Avenue Maroochydore $761,250 SOLD 42/48-50 Duporth Avenue Maroochydore $1,090,000 SOLD 1201/14-20 Aerodrome Road Maroochydore $1,325,000 SOLD 505/67 Sixth Avenue Maroochydore $1,090,000 SOLD 1005/1-7 Duporth Avenue Maroochydore $1,950,000 SOLD 331 Bradman Avenue Maroochydore $1,080,000 SOLD 43 Hinkler Parade Maroochydore $1,531,000 SOLD 210/1 Duporth Avenue Maroochydore $1,150,000
Auction Results Jan-Mar as at March 31
Auction
SOLD 35 Kurrajong Crescent Meridan Plains $985,000 SOLD 19 Mooloolah Dve Minyama $1,905,000 FOR SALE 76 Glenmount Road Mons SOLD 5/9 Douglas Street Mooloolaba $670,000 SOLD 2/46 Lawrence Street Mooloolaba $950,000 FOR SALE 24/32 River Esplande Mooloolaba SOLD 6/17-19 Brisbane Road Mooloolaba $630,000 SOLD 20 Jacaranda Drive Mooloolaba $1,865,000 SOLD 8 Samuel Place Mooloolah Valley $1,030,000 SOLD 18/39-43 Cootamundra Drive Mountain Creek $592,000 SOLD 18/1 Hibbertia Street Mountain Creek $613,000 SOLD 8 Roseleaf Crescent Palmview $785,000 SOLD 85 Apple Gum Place Palmview $2,200,000 SOLD 51 Old Orchard Drive Palmwoods $880,000 SOLD 5 Red Ash Court Palmwoods $1,000,000 UNDER CONTRACT 1 Water Gum Street Palmwoods FOR SALE 8/10 Grand Parade Parrearra SOLD 612/6 High Street Sippy Downs $570,000 SOLD 130 University Way Sippy Downs $900,000 SOLD 138 Glenmount Road Tanawha $815,000 SOLD 31 Mannikin Road Tanawha $1,865,000 UNDER CONTRACT 432 Wilson Road Tanawha FOR SALE 97 Towen Mount Road Towen Mountain SOLD 9 Girraween Street Warana $1,356,000 SOLD 24 Bareki Street Wurtulla $1,350,000
Results Jan-Mar as at March 31
Buyer Inspections
JANUARY
973 private treaty inspections
466 buyer inspections at auctions
849 private treaty inspections
1,385 buyer inspections at auctions
573 private treaty inspections
1,736 buyer inspections at auctions
total inspections
total inspections
total inspections
number of open homes
number of open homes
number of open homes
1,621
2,234
2,309
365
398
506
FEBRUARY MARCH
Buyer Inspections Total
QUARTER COMBINED | Jan-Mar 2024
6,164 total inspections
1,269 number of open homes
2,395 private treaty inspections
3,587 buyer inspections at auctions
With over 6,000 inspections conducted in the quarter, buyer demand has again remained at a market high level. Considering the auction campaigns alone, we showed 3,587 buyers through the 115 auction campaigns in the quarter, at an average of 30.6 inspections per campaign. Properties marketed with a price averaged 23.95 through the 100 campaigns run.
Private Treaty Report
Number on Market 116 Total Sold 29 30 Day Success (%) 25% Average Days on Market 39 Number on Market 80 Total Sold 30 30 Day Success (%) 38% Average Days on Market 70 Number on Market 103 Total Sold 27 30 Day Success (%) 26% Average Days on Market 21 F E B R U A RY 30 M A R C H 27 TOT A L S O LD TOT A L S O LD TOT A L S O LD J A N U A R Y 29
PREVIOUS QUARTER
We recorded a slight increase in property to the market in the recent quarter which was reflected in the higher number of sales. The 90 day success rate remained very strong at an incredible 86% with 100 campaigns running and 86 sales made in the period. While the time taken to sell priced campaigns was longer, it’s explained by the fact that most contracts are conditional to buyer terms that last an additional 14 to 21 days, extending the time to sell.
TOT A L S O LD 64 TOT A L S O LD 86 QUARTER COMBINED (average) Jan-Mar QUARTER COMBINED (average)
Number on Market 100 Total Sold 86 90 Day Success (%) 86% Average Days on Market 43 Number on Market 84 Total Sold 64 90 Day Success (%) 76% Average Days on Market 21
Property Management
95 properties leased 81 properties leased 70 properties leased 14 average days on market 14 average days on market 15 average days on market 100% occupancy rate 99% occupancy rate 99% occupancy rate JANUARY FEBRUARY MARCH
Introducing...
Ray White Buderim 07 5445 6088 buderim.qld@raywhite.com
Ray White Kawana Waters 07 5354 6012 kawana.qld@raywhite.com
Ray White Maroochydore 07 5443 2000 maroochydore.qld@raywhite.com
Ray White Mooloolaba 07 5444 3455 mooloolaba.qld@raywhite.com
Ray White Nambour 07 5354 6000 nambour.qld@raywhite.com
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