Sunshine Coast Market Report - Quarterly Property Results (UPDATED)

Market Monitor July-September 2023

Voice of Property on the Sunshine Coast

Coastal Living Offices

Ray White Buderim

Ray White Kawana Waters

07 5445 6088

07 5354 6012

raywhitebuderim.com.au

raywhitekawanawaters.com.au

Unparalleled in our local marketplace

Welcome to the latest instalment of the Ray White Market Monitor, reporting on the July to September quarter of 2023.

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 Maroochydore

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 Mooloolaba

Ray White Nambour

07 5443 2000

07 5444 3455

07 5354 6000

raywhitemaroochydore.com.au

raywhitemooloolaba.com.au

raywhitenambour.com.au

Auction Report AUGUST

J U LY

91%

SEP

TEMBER

81%

58%

SUCCESS

SUCCESS

SUCCESS

Auctions

46

Auctions

39

Auctions

75

Sold

40

Sold

30

Sold

43

Withdrawn

2

Withdrawn

2

Withdrawn

1

Success %

91%

Success %

81%

Success %

58%

Clearance %

48%

Clearance %

56%

Clearance %

44%

Days on Market

25

Days on Market

40

Days on Market

28

Registered Bidders

99

Registered Bidders

62

Registered Bidders

275

Registered Bidders per auction (average)

3.92

Registered Bidders per auction (average) Pre Auction Offers

2.47

Registered Bidders per auction (average)

2.13

53

Pre Auction Offers

38

Pre Auction Offers

95

% Discount from Reserve

-2.56%

Lift from Reserve

0.40%

% Discount from Reserve

-0.75%

% Lift from Highest Pre-Auction Offer to Sale

5.21%

% Lift from Highest Pre-Auction Offer to Sale

4.56%

% Lift from Highest Pre-Auction Offer to Sale

3.38%

QUARTER COMBINED | Jul-Sept

PREVIOUS QUARTER COMBINED AS AT 30 September

73%

96%

SUCCESS

SUCCESS

Auctions

160

Auctions

114

Sold

113

Sold

95

Withdrawn

5

Withdrawn

15

Success %

73%

Success %

96%

Clearance %

49%

Clearance %

56%

Days on Market

31

Days on Market

35

Registered Bidders

436

Registered Bidders

242

Registered Bidders per auction (average)

2.84

Registered Bidders per auction (average)

2.52

Pre Auction Offers

186

Pre Auction Offers

136

% Discount from Reserve

-0.97%

Lift from Reserve

0.77%

% Lift from Highest Pre-Auction Offer to Sale

4.38%

% Lift from Highest Pre-Auction Offer to Sale

3.38%

WHAT THESE FIGURES SHOW

•

Spring continues to be the strongest selling season of the year with 160 auctions conducted in the period, up from 114 in the previous quarter.

•

Bidder numbers also have increased with 436 registrations in the same period, at an average of 2.84 per auction, buyer confidence continues to remain strong, despite interest rates increasing over the preceding 12 months. In conversations with bidders throughout the quarter, they are buying with confidence knowing that interest rates are at or near their expected peaks with the medium term suggesting a flattening in the interest rate cycle.

•

Competition on auction day created a lift rate of close to 5%, which is measured from the best pre-auction offer to the eventual sale price.

July Auction Results as at September 30 SOLD

1/33 Yakola Parade

Alexandra Headland

$950,000

SOLD

4 Bedarra Circuit

Maroochydore

$920,000

SOLD

1 Pakenham Street

Aroona

$1,001,000

SOLD

1/41 Bradman Avenue

Maroochydore

$680,000

SOLD

24/101 Birtinya Boulevard

Birtinya

$509,000

SOLD

25 Vauxhall Street

Minyama

$1,365,000

SOLD

10 Medindie Court

Bli Bli

$770,000

SOLD

112/8 Longwood Street

Minyama

$585,000

SOLD

2/6 Butcherbird Crescent

Bli Bli

$665,000

UNDER CONTRACT

2/73 Parkyn Parade

Mooloolaba

32 Stoney Wharf Road

Bli Bli

SOLD

1/35 Brisbane Road

Mooloolaba

$400,000

SOLD

232 Oceanic Drive

Bokarina

$1,855,000

SOLD

1206/7 Venning Street

Mooloolaba

$1,430,000

SOLD

317 Nicklin Way

Bokarina

$815,000

SOLD

32 Parkway Drive

Mooloolaba

$955,000

SOLD

7 Kookaburra Drive

Bokarina

$1,100,000

SOLD

53/1-3 Buderim Avenue

Mooloolaba

$2,340,000

313/5 Bermagui Crescent

Buddina

SOLD

12/24-26 Tarcoola Avenue

Mooloolaba

$990,000

SOLD

3 Como Court

Buderim

$920,000

FOR SA L E

84 Lakeview Lane

Mooloolah Valley

SOLD

170/8 Starling Street

Buderim

$420,000

SOLD

134 Bundilla Boulevard

Mountain Creek

$875,000

SOLD

4 Troywood Crescent

Buderim

$920,000

SOLD

24 Huntingdale Drive

Nambour

$705,000

SOLD

4 Cooba Close

Buderim

$985,000

SOLD

4 Wentworth Court

Nambour

$660,000

SOLD

31 Fountain Road

Buderim

$2,600,000

SOLD

12 Florence Street

Nambour

$600,000

SOLD

3 Plantation Parade

Buderim

$975,000

SOLD

273 Pencil Creek Road

Obi Obi

FOR SA LE

206 Ratcliffe Road

Diamond Valley

SOLD

32 Sunbird Chase

Parreara

$2,100,000

SOLD

27/51 Grand Parade

Kawana Island

$650,000

SOLD

4 Mohr Close

Sippy Downs

$741,179

SOLD

44/7 Grand Parade

Kawana Island

$1,300,000

SOLD

517/14-16 High Street

Sippy Downs

$510,000

SOLD

20703/96 Memorial Avenue

Maroochydore

$520,000

FOR SA L E

2/8 Tagera Street

Warana

SOLD

901/51 Fifth Avenue

Maroochydore

$1,680,000

SOLD

13 Coolahra Street

Warana

$1,535,000

SOLD

26 Cooinda Crescent

Maroochydore

$885,000

SOLD

2 Palkana Drive

Warana

$1,500,000

SOLD

84 School Road

Maroochydore

$749,000

UNDER CONTRACT

19 Orringa Street

Wurtulla

W I T H D R AW N

W I T H D R AW N

August Auction Results as at September 30 SOLD

1/34 George Street

Alexandra Headland

$1,700,000

FOR SA L E

41 Dalby Street

Maroochydore

SOLD

13/156-158 Alexandra Parade

Alexandra Headland

$730,000

SOLD

7/12 Ball Street

Maroochydore

$602,000

SOLD

34/146 Alexandra Parade

Alexandra Headland

$940,000

SOLD

7/131-133 Duporth Avenue

Maroochydore

$615,000

FOR SA LE

16/11 Innovation Parkway

Birtinya

SOLD

6/77 Bradman Avenue

Maroochydore

$550,000

SOLD

337/21 Innovation Parkway

Birtinya

SOLD

136 Maroochydore Road

Maroochydore

$715,000

FOR SA LE

77 Prosperity Drive

Birtinya

UNDER CONTRACT

2511/100 Duporth Avenue

Maroochydore

SOLD

21 Lighthouse Circuit

Birtinya

SOLD

1/13 Aragorn Street

Maroochydore

UNDER CONTRACT

12 Tailslide Crescent

Bokarina

WITHDRAWN

413/9 Market Lane

Maroochydore

FOR SA LE

8 Boorook Street

Buddina

SOLD

48 Yorkeys Lane

Maroochydore

SOLD

1/107a King Street

Buderim

FOR SA L E

169 Sawreys Road

Mons

W I T H D R AW N

14 Monks Crescent

Buderim

SOLD

3/22 Goonawarra Drive

Mooloolaba

$570,000

SOLD

1/12 Lakeshore Avenue

Buderim

$540,000

SOLD

7B/135 Parkyn Parade

Mooloolaba

$1,080,000

SOLD

2/12 Lakeshore Avenue

Buderim

$575,000

SOLD

26 Coorumbong Close

Mooloolaba

$2,200,000

SOLD

5 Vista Park Drive

Buderim

$415,000

SOLD

2/20 Burnett Street

Mooloolaba

$875,000

208/10 Leeding Terrace

Caloundra

UNDER CONTRACT

35 Panama Court

Mountain Creek

SOLD

209 Glenview Road

Glenview

$1,275,000

SOLD

7 Explorer Avenue

Sippy Downs

$800,000

SOLD

611 Ilkley Road

Ilkley

$740,000

SOLD

33 Vincent Avenue

Sippy Downs

$770,000

SOLD

4 Rinca Place

Kawana Island

$1,007,000

SOLD

46 Schubert Road

Woombye

$1,150,000

SOLD

39/79 Edmund Street

Kings Beach

$500,000

SOLD

50/67 Regatta Boulevard

Wurtullla

$550,000

SOLD

1/1 Rosslare Court

Kuluin

$727,000

FOR SA L E

11 Coongarra Esplanade

Wurtullla

FOR SA LE

$493,000

$1,080,000

$778,000

$520,000

$857,000

September Auction Results as at September 30 SOLD

9/60 Alexandra Parade

Alexandra Headland

UNDER CONTRACT

408/180 Alexandra Parade

Alexandra Headland

SOLD

6/36 Buderim Avenue

Alexandra Headland

UNDER CONTRACT

7/10 Edward Street

Alexandra Headland

196 Mooloolaba Road

Buderim

SOLD

24 Atherton Close

Buderim

$1,270,000

SOLD

21 Deloraine Drive

Buderim

$1,055,000

SOLD

7 Pacific View Parade

Buderim

$1,095,000

UNDER CONTRACT

20/3 Dubois Close

Buderim

SOLD

2 Gibson Street

Buderim

269 Diamond Valley Road

Diamond Valley

65 Andersen Road

Diamond Valley

21 Murray Grey Drive

Kureelpa

SOLD

8 Jewett Road

Kureelpa

$1,165,000

SOLD

4/58 Sixth Avenue

Maroochydore

$820,000

SOLD

23 Tepequar Drive

Maroochydore

$850,000

FOR SA LE

331 Bradman Avenue

Maroochydore

SOLD

10 Deejay Street

Maroochydore

$770,000

SOLD

6 Dalby Street

Maroochydore

$970,000

SOLD

33 Wurtulla Street

Maroochydore

$1,974,000

SOLD

41 Serenity Circuit

Maroochydore

$900,000

UNDER CONTRACT

8 Currong Street

Minyama

SOLD

1/34 Lawrence Street

Mooloolaba

$635,000

SOLD

9 Charm Street

Palmview

$805,000

FOR SA LE

45 Golden Pine Way

Palmwoods

SOLD

9 Edgewater Place

Sippy Downs

$1,250,000

SOLD

23 Chesterton Crescent

Sippy Downs

$690,000

SOLD

172b Tanawha Road

Tanawaha

$1,687,500

SOLD

10 Kirby Court

Tanawha

$2,900,000

FOR SA LE

2 Nagari Place

Warana

FOR SA LE

FOR SA LE

SOLD FOR SA LE

$1,000,000

$1,175,000

$1,020,000

$900,000

Sunshine Coast’s Largest In-Room Auction Event On Sunday 24th September the Ray White Coastal Living Network Auction Event made history yet again by hosting the Sunshine Coast’s largest in-room property auction, achieving $27,236,000 in sales on the day.

The sales won’t stop with the end of the event, with many more transactions expected to take place post-auction.

One of the most anticipated properties and the highest sale of the day was 22 Brisbane Road; the ‘developer’s dream block’ with six, two bedroom units only three blocks back from Mooloolaba Beach. Following a hot bidding war, the property was sold for $5.31 million.

Not far behind this sale was the exquisite Mooloolaba penthouse at 16/82-86 River Esplanade, sold for $4.59 million.

2023’s In-Room Auction Event achieved outstanding results.

• $27,236,000 million in sales on the day • 45 listed properties • Over 2500 buyer inspections conducted in September • Over 200 registered bidders • 18 properties sold at auction • 40% on the day clearance rate with a 76% success rate including post auction sales • Top property sale of $5.31 million • 419 coffees consumed Since the event’s inception in 2015, the network has now auctioned 438 properties, totalling in $258 million in sales. Now in its eighth year, the event continues to grow. Around 400 interested attendees gathered from 9am at Mercedes-Benz Sunshine Coast, eagerly awaiting the action to begin.

A further 1800 online viewers tuned into the Facebook live stream.

Presented by over 70 staff from the Ray White Coastal Living Network’s five offices, at Maroochydore, Buderim, Mooloolaba, Kawana Waters and Nambour, each Ray White team member was buzzing with energy, working to register buyers, supporting sellers, briefing phone bidders and ushering spectators.

Major partners on the day included Mercedes-Benz Sunshine Coast, realestate.com and Blink! Productions.

September Auction Event Results as at September 30 UNDER CONTRACT

18 Tommys Court

Buderim

Alexandra Headland

SOLD

1 Blush Street

Caloundra

14 The Grove

Alexandra Headland

FO R SA L E

11 Albyn Place

Glasshouse Mountains

SOLD

1/238-240 Alexandra Parade

Alexandra Headland

24 Kentia Street

Highworth

UNDER CONTRACT

48 Thompson Road

Beerwah

WITHDRAWN

4 Tortola Place

Kawana Island

FOR SA LE

1 Headland Drive

Birtinya

FO R SA L E

1 Easter Street

Kawana Island

SOLD

8 Curbarra Street

Buddina

$1,255,000

FO R SA L E

19 Fitzroy Court

Kawana Island

SOLD

6A Martins Creek Road

Buderim

$1,225,000

SOLD

3/8 Levuka Avenue

Kings Beach

SOLD

144/19A Wirraway Street

Alexandra Headland

UNDER CONTRACT

234/21 Wirraway Street

UNDER CONTRACT

$1,300,000

$572,000

UNDER CONTRACT

$640,000

$1,310,000

SOLD

34 Amigh Road

Landsborough

$780,000

FOR SA L E

SOLD

17 Bedarra Circuit

Maroochydore

$1,150,000

24/132-136 Duporth Avenue

Maroochydore

SOLD

403/61-65 Sixth Avenue

Maroochydore

$1,425,000

SOLD

8 Emperor Avenue

Maroochydore

$830,000

UNDER CONTRACT

38 Bedarra Circuit

UNDER CONTRACT

FOR SA LE

FOR SA LE

2/5 Maroochy Waters Drive

Maroochydore

UNDER CONTRACT

36 Chelsea Crescent

Minyama

SOLD

22 Brisbane Road

Mooloolaba

FOR SA L E

7/17 Bindaree Crescent

Mooloolaba

SOLD

16/82-86 River Esplanade

Mooloolaba

$4,590,000

Maroochydore

SOLD

60 Neerim Drive

Mooloolaba

$1,025,000

2705/100 Duporth Avenue

Maroochydore

SOLD

17/29-31 Tarcoola Avenue

Mooloolaba

$900,000

42 Banfield Place

Maroochydore

SOLD

26/42-56 River Esplanade

Mooloolaba

$1,250,000

$5,310,000

September Auction Event Results as at September 30 UNDER CONTRACT

FOR SA LE

7/15 Bindaree Crescent

Mooloolaba

52 Shamrock Place

Palmview

SOLD

5/22-24 Meta Street

Mooloolaba

$700,000

FO R SA L E

90 Landershute Road

Palmwoods

SOLD

16 Haddys Close

Mountain Creek

$886,000

UNDER CONTRACT

2/20 Citron Place

Palmwoods

SOLD

14 Escolar Drive

Mountain Creek

$865,000

SOLD

1 Peatling Lane

Twin Waters

FOR SA LE

25/19 Riviera Place

Mountain Creek

UNDER CONTRACT

123 Old Palmwoods Road

Woombye

UNDER CONTRACT

13 Hillsborough Circuit

Mountain Creek

SOLD

40 Baroona Street

Wurtulla

SOLD

7 Banyandah Street

North Yandina

$1,020,000

$1,450,000

$1,180,000

Where do our Buyers Come From?

JULY

AUGUST

SEPTEMBER

Sunshine Coast 45.8%

Sunshine Coast 70%

Sunshine Coast 63.1%

Brisbane 20.8%

Brisbane 5%

Brisbane 15.4%

Regional QLD 4.2%

Gold Coast 5%

North QLD 2.1%

Regional QLD 5%

NSW 4.2%

NSW 15%

Gold Coast 1.5% NSW 10.8%

VIC 20.8%

ACT 1.5%

NT 2.1%

VIC 6.2% International 1.5%

The Sunshine Coast remains a popular choice for buyers coming from South East Queensland and Interstate with close to 40% of properties sold to out of the area groups.

While the local market continues to dominate, new migration to the area has a positive influence on price growth.

Buyer Inspections JULY

AUGUST

SEPTEMBER

1,605

2,111

2,271

total inspections

total inspections

total inspections

441

521

653

number of open homes

number of open homes

number of open homes

464

679

590

private treaty inspections

private treaty inspections

private treaty inspections

1133

1362

1664

buyer inspections at auctions

buyer inspections at auctions

buyer inspections at auctions

Buyer Inspections Total QUARTER COMBINED | Jul-Sept 2023

5,987

total inspections

•

With almost 6000 inspections conducted over the 90 days, our group conducts almost 70 inspections per day across our marketed properties. Auction campaigns again gathered the lions share of buyer interest with 4159 inspections which represents 69% of all property inspections.

•

When it comes to which sales strategy, Auctions vs Private Treaty, is gathering the most buyer interest, it’s auctions that generated on average 25 buyer inspections as opposed to Private Treaty that recorded 18.

1,615 number of open homes

1,733 private treaty inspections

4,159

buyer inspections at auctions

Private Treaty Report TEMBER

J U LY

AUGUST

31

28

26

TO

TO

TO

TA L S O L D

SEP

TA L S O L D

TA L S O L D

Number on Market

89

Number on Market

74

Number on Market

121

Total Sold

31

Total Sold

28

Total Sold

26

30 Day Success (%) Average Days on Market

35% 42

30 Day Success (%) Average Days on Market

38% 45

30 Day Success (%) Average Days on Market

21% 24

QUARTER COMBINED (average) Jul-Sept

QUARTER COMBINED (average) PREVIOUS QUARTER

85

106

TO

TO

TA L S O L D

TA L S O L D

Number on Market

95

Number on Market

132

Total Sold

85

Total Sold

106

90 Day Success (%)

80%

90 Day Success (%) Average Days on Market

90% 37

Average Days on Market

44

September was a standout month for the speed to which sales were occuring, on average the days on market dropped to 24 in September, which reduced the average over the quarter to 37. The previous average was 44 days on market. This is again a sign of buyer confidence and a willingness to act decisively when the right property was presented to the market.

Property Management JULY

AUGUST

SEPTEMBER

89

88

77

properties leased

properties leased

properties leased

16

19

17

average days on market

average days on market

average days on market

99%

96%

99%

occupancy rate

occupancy rate

occupancy rate

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 Now, a monthly insight to provide clarity to all our customers on what is happening in the market now. If you are considering selling, this report explains how you can take advantage of the current conditions to achieve the best possible sales outcome.

Proudly presenting real-time residential market insights.

Ray White Mooloolaba 07 5444 3455 mooloolaba.qld@raywhite.com Ray White Nambour 07 5354 6000 nambour.qld@raywhite.com

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