PREPARED BY DYLAN TAYLOR & SEAN TAYLOR MERMAID WATERS QUARTER TWO 2022 APRIL - JUNE QUARTERLY MARKET REPORT
A NEW FEDERAL GOVERNMENT IS SWORN IN Australia has voted and a new federal government has been sworn in. The changing of the guard comes at an interesting time for our economy and our property markets, with significant change in both since the start of the year. At this stage, we know the Labour government will focus on three key areas when it comes to housing:
Times are certainly changing. The country has new leadership and new interest rates, but don’t let the media hype fool you – the Gold Coast is still riding a wave of success and placed at the peak of the market. Even across the country, our combined Ray White Group sales results in May were robust. Up 29% year on year to $6.2 billion, this means the market is operating at speed, with many willing sellers and buyers not so far apart that a transaction can’t be reached.
• Sustainability • First home buyers • Social housing
What we know right now too is that all critical appraisal numbers are up 62% on two years ago and 22% higher than last year. This gives us confidence that the Spring pipeline is firming up. Our open home numbers remain sound (10% higher foot traffic than one year ago) and scheduled auctions across our group remain higher also, compared to the last two years. In fact, since polling day, our clearances are climbing back to the mid-60% ranges – actually slightly above our long term average. And while the median days on market is now 37 days, it’s still a week shorter than it was five years ago. All in all, as we head towards Spring, the sales pipeline looks strong!
These are all critical areas to be addressed as we move forward from the pandemic and Ray White will be helping our clients with these issues.
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OVERVIEW Quarter Two 2022
With the building shortage supply still escalating nation-wide, it’s had a knock on effect in real estate. Purchasers are now willing to pay a premium for renovated, move-in ready homes, just to avoid this short-fall in materials and the associated construction cost increases. The southern Gold Coast is also reporting an upswing in the number of buyers clamouring to purchase new or renovated products.
THE PREFERENCE FOR TURN-KEY PROPERTIES
Our job has always been the same - to create competition for our sellers and secure the highest possible price. We can do that in any market, and we’ve never lost sight of that. Stock is rising and we’re ready to help. For more information, contact us today. Kind regards , Dylan Taylor & Sean Taylor TAYLOR 0449 967 395
While we have entered a new property cycle, the Australian real estate market is high functioning, producing a substantial turnover. And, despite the RBA starting to tighten, advising borrowers to expect four to five interest rate rises, the Ray White Group’s 120 years of selling experience tells us prices aren’t likely to drop dramatically. The fact is people buy and sell houses every day. They upsize, downsize, and relocate as their personal circumstances and choices dictate. Selling is a personal decision, and we will continue to see plenty of action in the market.
DEBUNKING THE STOCK-PILE MYTH Is stock “piling up”, as is so widely reported? We prefer to look objectively at what’s happening now in the market. As a result, we’re seeing strong levels of new stock released for sale, in line with last year. Total stock on the market is up about 15% from last year, so there’s no cause for alarm.
SOUTHERN STARS
A CHANGE IN THE PROPERTY CYCLE
dylan.taylor@raywhite.comdylantaylor_realestate TAYLOR 0459 287 729 sean.taylor@raywhite.comseantaylor_realestate
SEAN
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Southern Gold Coast residential pockets continue to impress with their sales figures and median prices. In sought-after Burleigh Heads, the median sales price of houses topped $1,650,719 with 45 houses and 78 units sold in the past six months. Mermaid Waters saw its median suburb price rise to $1,761,819, off the back of 76 house and 45 unit sales.
DYLAN
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These indicators lead me to think that we are in for a fairly long, but only slight downhill journey.
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1) We would have a practical, stable government. Well we are halfway there, definitely stable.
For the time being, Covid is no longer a consideration and unfortunately it appears that the war in Ukraine is now going to be a long drawn out affair, which is a tragedy, but will soon be forgotten by those not directly affected, and other than the negative contribution to inflation will have no bearing on property prices in Australia.
Ray White Burleigh Group I finished my last report with a wish list of three things:
A far bigger concern is the state of the American economy which is likely to go into recession officially in July. If this happens, there will definately be a flow on effect in Australia as is already being evidenced on our stock exchange. Our market is driven by consumer confidence which is being shaken at present, but more by a strong wind than an actual storm.
2) Covid would be contained again.. tick! I think the flu is a bigger danger now?!
3) Putin would be in jail. Still a concern, but the upside is that Europe is expediting their plans to become less dependent on Russia’s oil and gas and when that happens sanctions will flatten him. It’s a long game now.
LARRY MALAN Chief Executive Officer
I, for one, would still prefer my money to be in good quality, well located property which is inflation proof, rather than having money in the bank earning peanuts, or shares which have already increased the number of grey hairs on my head. The trick is to buy good property that is easily affordable (most are due to great rent returns) and forget about what it may be worth. I’ll bet that ten years from now you will be happy!
A NOTE From Our CEO
Inflation is our immediate big problem and despite the government’s knee jerk reaction to increase the base wage rate, it will not be overcome easily, which will mean less disposable income for most families and therefore more cautious thinking about home upgrades. Coupled to that we will have consistent mortgage rate rises for the next year or so until the retail rate reaches circa 4% after which it should hold. This in itself is not particularly onerous as the banks have already built in a buffer when the loans were issued, which shows that the loan is affordable to the borrower even at the higher rate. It is more of a confidence issue than a real burden, but still a negative.
Property is a long game, ignore the short term speed bumps. Until next time,
6 QUARTER TWO At A Glance HOUSES HIGHEST SALE LOWEST SALE MEDIAN SALE TOTAL HOUSE SALES MEDIAN DAYS ON MARKET$1,510,000$3,400,000$578,0004723 APARTMENTS & UNITS HIGHEST SALE LOWEST SALE MEDIAN SALE TOTAL UNIT SALES MEDIAN DAYS ON MARKET $1,650,000$275,000 $600,0002114 HOUSES MEDIAN RENTAL PRICE MEDIAN DAYS ON MARKET $922 23 APARTMENTS & UNITS MEDIAN RENTAL PRICE MEDIAN DAYS ON MARKET $530 14 TOTAL PROPERTIES RENTED IN MERMAID WATERS130 TOTAL PROPERTIES SOLD IN MERMAID WATERS68
7 HOUSE SALES Mermaid Waters 28A Avanti Street $3,400,0004 L5 2 382m²| | | 14 May 2022 30 Avanti Street $1,850,0005 L2 1 839m²| | | 8 Jun 2022 41 Barrier Reef Drive $1,382,5004 L2 2 700m²| | | 20 May 2022 127 Barrier Reef Drive $1,290,0004 L2 2 771m²| | | 2 Apr 2022 41 Bordeaux Parade $1,580,0004 L2 2 612m²| | | 25 Jun 2022 20 Constance Avenue $1,700,0003 L1 3 610m²| | | 26 Apr 2022 65/215 Cottesloe Drive $823,0003 L2 1 - m²| | | 21 Jun 2022 93/215 Cottesloe Drive $578,0003 L2 1 - m²| | | 11 Apr 2022 7 Fairsky Avenue $1,310,0003 L1 2 613m²| | | 23 Jun 2022 25 Fairsky Avenue $1,350,0004 L2 2 622m²| | | 7 May 2022 62 Gretel Drive $2,100,0004 L2 2 804m²| | | 25 Apr 2022 4 Helm Court $2,000,0004 L3 4 695m²| | | 4 Apr 2022 6 Gallileo Place $1,350,0003 L2 4 613m²| | | 26 Apr 2022 1 Intrepid Drive $1,220,0003 L2 4 669m²| | | 6 Apr 2022 3/60 Karbunya Street $715,0002 L1 1 - m²| | | 2 May 2022 1 Lancelin Drive $1,850,0004 L2 4 865m²| | | 20 Jun 2022 24 Lancelin Drive $2,600,0004 L2 2 1112m²| | | 6 Apr 2022 21 Long Island Court $2,150,0004 L2 2 941m²| | | 5 May 2022 24 Long Island Court $1,650,0004 L2 2 968m²| | | 24 May 2022 25 Markeri Street $1,470,0004 L2 2 610m²| | | 9 May 2022 36 Markeri Street $1,510,0004 L3 2 657m²| | | 12 May 2022
4 Peter Blondell Drive $1,975,0004 L3 2 783m²| | | 19 May 2022 37 Portobello Drive $2,250,0005 L3 2 973m²| | | 9 May 2022 37 Rawlinna Drive $1,230,0004 L2 2 1039m²| | | 12 Apr 2022 4/1 Rope Court $580,0002 L1 1 - m²| | | 19 May 2022 21 Rumrunner Street $880,0004 L3 2 742m²| | | 18 May 2022 38 Rumrunner Street $2,750,0004 L3 2 810m²| | | 4 May 2022 3 Scouller Place $1,560,0004 L2 1 655m²| | | 21 May 2022 47 Markeri Street $3,100,0003 L2 6 797m²| | | 5 May 2022 219 Markeri Street $1,300,000L2 852m²| | | 2 Jun 2022 7 Monteclair Court $2,080,0004 L3 2 841m²| | | 26 Apr 2022 5 Peninsula Court $1,705,0004 L2 2 739m²| | | 30 Apr 2022 8 210 Sunshine Boulevard $1,720,0005 L3 2 890m²| | | 9 Jun 2022 59 Surf Street $1,750,0003 L1 2 607m²| | | 28 May 2022 9 Tequila Court $2,000,0003 L2 2 782m²| | | 2 Apr 2022 4 Timana Avenue $1,100,0003 L1 1 646m²| | | 10 Jun 2022 15 Vatakoula Parade $1,830,0003 L1 2 668m²| | | 14 Apr 2022 25 Vatakoula Parade $2,345,0003 L1 2 754m²| | | 17 May 2022 3 Verdichio Avenue $1,050,0003 L2 2 546m²| | | 21 Apr 2022 10 Scouller Place $1,450,0004 L3 1 785m²| | | 2 Jun 2022 3/15 Sonia Street $880,0003 L2 1 - m²| | | 14 Jun 2022 67 Sovereign Drive $1,250,0003 L1 2 675m²| | | 3 Jun 2022 207 Sunshine Boulevard $1,241,5003 L1 1 613m²| | | 12 May 2022 2/42 Verdichio Avenue $2,283,0004 L3 2 430m²| | | 3 Apr 2022 2/22 Wanneroo Court $1,240,0004 L3 2 213m²| | | 28 Apr 2022 9 Wild Duck Drive $1,175,0004 L2 2 706m²| | | 11 Jun 2022 3 Willis Court $800,0004 L2 2 866m²| | | 18 May 2022
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11 APARTMENT & UNIT SALES Mermaid Waters 9/9 Aquila Court $600,0002 B1 1 - m²| | | 11 May 2022 2/3 Avanti Street $1,650,0004 3 2 235m²| | | 25 May 2022 7/5 Christina Court $485,0002 1 1 102m²| | | 19 May 2022 B B B1/13 Christina Court $590,0002 2 1 120m²| | | 7 May 2022 141/215 Cottesloe Drive $685,0003 2 2 196m²| | | 10 May 2022B 148/215 Cottesloe Drive $627,0002 B2 1 125m²| | | 27 Apr 2022 70/300 Cottesloe Drive $520,0002 1 1 - m²| | | 28 Apr 2022 5/30 Duet Drive $505,0002 1 1 90m²| | | 1 Jun 2022 B B B6/55 Duet Drive $380,0001 93m²| | | 19 May 2022 7/2 Dunlop Court $675,5002 2 1 140m²| | | 28 Apr 2022B 5/18 Dunlop Court $1,018,0002 B2 1 126m²| | | 20 Apr 2022 46/54 Hooker Boulevard $800,0002 2 1 107m²| | | 5 Apr 2022 11/56 Hooker Boulevard $705,0002 2 2 125m²| | | 20 Apr 2022 B B B8/9 Jodie Court $615,0002 1 1 81m²| | | 5 Apr 2022 11/9 Jodie Court $585,6002 1 1 120m²| | | 11 Apr 2022 B B 25/2-34 Karbunya Street $875,0002 B2 2 102m²| | | 2 Apr 2022 25/111 Markeri Street $485,0002 1 1 81m²| | | 28 Apr 2022 35/111 Markeri Street $550,0002 1 1 85m²| | | 23 May 2022 B B B4/42 Oceanic Drive $550,2222 1 2 - m²| | | 22 Apr 2022 4/105 Sunshine Boulevard $951,0002 2 2 135m²| | | 20 Jun 2022 B B 1/131 Sunshine Boulevard $275,0002 B2 1 123m²| | | 31 May 2022
Merrimac
ORGANIC
12 It’s no secret the Gold Coast is famous for its pristine beaches, but what might not be so well known is our region’s ability to host some of the finest Farmers Markets around. So, if you’re ready to wander through an array of mouth-watering stalls to snag the freshest morning produce, we’d heartily suggest you try Wholesome,these:
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Sundays. EVERY
nourishing produce awaits at the Organic Gold Coast Farmers Market. Renowned as Queensland’s only truly organic grower’s market, it stocks only the best quality, sustainably sourced, spray and chemical-free produce. Offering affordable goodness and organic fruit vegetables with 40 - 90% more antioxidants than commercially-grown food, they also education on our well-being and our planets well-being between 6am and 11:30am SUNDAY, FROM 6AM TO 11:30AM State High School, 3 Dunlop Court, Mermaid Waters GOLD COAST FARMERS MARKET Source: mustdogoldcoast.com.au
COMMUNITY Fresh & Fabulous Farmers Markets
provide
and
EVERY SATURDAY, FROM 7AM TO 12PM
For a mid-week treat, the Currumbin Community Market serves up fresh fair each Thursday. Located opposite the Currumbin RSL, enjoy farm-fresh produce and artisan products.
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Start your weekend off the right way with a trip to the popular Burleigh Farmers Market. Brimming with community vibes and your local go-to for all things fresh, an abundance of farm produce sits amongst flower pop-ups, collectables, crafts and international street food stalls. Add in the live entertainment showcasing a great selection of local talent, and there’s no better way to spend your Saturday morning.
EVERY SATURDAY, FROM 6AM TO 11:30AM Palm Beach Currumbin High School - Thrower Drive, Palm Beach PALM BEACH CURRUMBIN FARMERS MARKET Source: burleighmarket.com.au
Burleigh Heads State School - 1750 Gold Coast Highway BURLEIGH FARMERS MARKET
So much more than a standard shopping experience awaits at the Palm Beach Currumbin Farmers Market. The perfect place to gather with loved ones while indulging in delicious food and live local music, they operate rain, hail or shine. Run by The Market Co. GC, they’ve been busy hosting vibrant farmers’ markets on the Gold Coast for almost 20 years. Enjoy an enticing array of fresh fruits and vegetables, meat and poultry, seafood, dairy products, fresh pasta and sauces, baked goods, artisan breads, smallgoods and health foods.
EVERY THURSDAY, FROM 7AM – 11AM 164 Duringan Street, Currumbin CURRUMBIN COMMUNITY MARKET
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Dylan & Sean Taylor
Proactive and innovative, Dylan & Sean bring clarity, confidence, and a structured approach to each real estate endeavour. If you would like experienced agents to work hard with you, in the thick of the property action Dylan & Sean are the ones you are looking for! 967
Dylan & Sean are motivated, influential, and hard-working. Boasting reputations for highperformance, they excel through outstanding negotiation, communication, and marketing talents, in a competitive environment. No challenge is too big; no real estate opportunity is too small. Dylan & Sean are ready to take you from negotiation to close.
Dedicated to delivering exceptional results, Dylan & Sean fast-track marketing efforts, boost campaign reach, and engage the right investors at the right time. They kick that style into overdrive, attracting buyers, building quality relationships, and presenting properties to market. Once the sale is in his sight, they successfully negotiate and close and consistently surpasses client expectations.
395 dylan.taylor@raywhite.com 0459 287 729 sean.taylor@raywhite.com
seantaylor_realestatedylantaylor_realestate STAY IN TOUCH: 0449
Originally from Auckland NZ, brothers Dylan, Sean and their family moved to the Gold Coast in 2007 to begin an exciting new adventure. Both entering the real estate market at a young age, they were captivated by the Gold Coast’s unique beauty and abundant natural environment, and developed an eye for the market and a deep passion for Gold Coast property.
14 YOUR AGENTS
15 OUR RECENT SALES “Brilliant, just brilliant! Sean made the process so simple for us. He was constantly communicating with us. We will definitely be working with him and his team again.” - Scott “We would like to extend a great big thank you for selling our beloved first home. Not only did you get us a price that we can both walk away from this happy with, but you also made the auction campaign seamless. This was the first time either one of us had to entrust someone to sell our home and you both did an excellent job..” - Lucy WHAT OUR CLIENTS ARE SAYING... D29/1 Great Hall Drive $1,000,000Miami 32 First Avenue Palm Beach $1,850,000 D4/1 Great Hall Drive $1,062,000Miami D3/1 Great Hall Drive $1,100,000Miami E32/1 Great Hall Drive $1,020,000Miami 22 Molucca Avenue Palm Beach $1,570,000 “We can’t thank Dylan enough. Dylan made the experience of selling our house so easy (and quick!). He was professional, approachable, and very patient with us. One proper open house and he had our house sold! And on top of everything, he negotiated a great price for us! Thank you Dylan!!! We are over the moon!” - Victoria
Disclaimer: Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication. Based on or contains data provided by the State of Queensland (Department of Natural Resources and Mines) 2018. In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws.
NB: This suburb Market Report provides an overview of settled sales that have taken place in the area, by all agents. Ray White Burleigh Group is simply reporting the sales activity.
MERMAID WATERS MARKET REPORT QUARTER TWO 2022 APRIL - JUNE DYLAN TAYLOR 0449 967 395 dylan.taylor@raywhite.com SEAN TAYLOR 0459 287 729 sean.taylor@raywhite.com
