PREPARED BY DYLAN TAYLOR & SEAN TAYLOR MIAMI QUARTER TWO 2022 APRIL - JUNE QUARTERLY MARKET REPORT
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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.
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.
OVERVIEW Quarter Two 2022
THE PREFERENCE FOR TURN-KEY PROPERTIES
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!
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:
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.
• Sustainability • First home buyers • Social housing
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.
SEAN
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.
SOUTHERN STARS
A CHANGE IN THE PROPERTY CYCLE
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dylan.taylor@raywhite.comdylantaylor_realestate TAYLOR 0459 287 729 sean.taylor@raywhite.comseantaylor_realestate
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
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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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
2) Covid would be contained again.. tick! I think the flu is a bigger danger now?!
These indicators lead me to think that we are in for a fairly long, but only slight downhill journey.
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.
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.
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.
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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!
Property is a long game, ignore the short term speed bumps. Until next time,
Ray White Burleigh Group I finished my last report with a wish list of three things:
1) We would have a practical, stable government. Well we are halfway there, definitely stable.
A NOTE From Our CEO
6 QUARTER TWO At A Glance HOUSES HIGHEST SALE LOWEST SALE MEDIAN SALE TOTAL HOUSE SALES MEDIAN DAYS ON MARKET $1,322,500$3,300,000$720,000 2019 APARTMENTS & UNITS HIGHEST SALE LOWEST SALE MEDIAN SALE TOTAL UNIT SALES MEDIAN DAYS ON MARKET $8,125,000$275,200$725,000 21 15 HOUSES MEDIAN RENTAL PRICE MEDIAN DAYS ON MARKET $800 20 APARTMENTS & UNITS MEDIAN RENTAL PRICE MEDIAN DAYS ON MARKET $620 15 TOTAL PROPERTIES RENTED IN MIAMI51 TOTAL PROPERTIES SOLD IN MIAMI40
7 HOUSE SALES Miami 61 Bardon Avenue $1,345,0003 L1 3 433m²| | | 2 Apr 2022 67 Bardon Avenue $1,350,0003 L2 2 417m²| | | 15 May 2022 96 Bardon Avennue Undisclosed4 L2 2 600m²| | | 27 May 2022 108 Bardon Avenue $1,282,0003 L2 2 600m²| | | 3 May 2022 2/18 Brakes Crescent $2,412,5004 L3 4 - m²| | | 20 Apr 2022 1/1 Crisp Court $1,010,0002 L2 1 - m²| | | 27 Jun 2022 34 Evandale Crescent $1,635,0004 L2 2 266m²| | | 5 Apr 2022 57 Great Hall Drive $720,0002 L2 1 766m²| | | 14 Jun 2022 7 Hillcrest Parade $1,070,0004 L2 2 405m²| | | 9 Apr 2022 7 June Court $1,605,0003 L2 2 610m²| | | 13 Apr 2022 55 Kiers Road $1,300,0003 L1 1 556m²| | | 20 May 2022 13 Messines Crescent $3,300,0004 L3 1 405m²| | | 4 Apr 2022 64 Kallay Street $1,300,0004 L2 2 506m²| | | 2 Apr 2022 61 Nobby Parade $1,350,0003 L2 2 410m²| | | 17 May 2022 2/72 Nobby Parade $1,200,0003 L2 2 171m²| | | 29 Apr 2022 1/1 Snipe Street $879,5002 L1 2 94m²| | | 11 Apr 2022 72 Sunshine Parade $1,260,0003 L1 1 405m²| | | 30 Apr 2022 2/81 Sunshine Parade $1,850,0004 L2 2 - m²| | | 29 Apr 2022 16 Tulip Street $1,525,0004 L2 2 606m²| | | 30 Jun 2022
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9 APARTMENT & UNIT SALES Miami 3/160 Bardon Avenue $425,0001 B1 1 - m²| | | 11 Apr 2022 6/5 Christine Avenue $660,0002 1 1 122m²| | | 16 Apr 2022 2/9 Crimson Court $1,000,0002 1 2 - m²| | | 17 Apr 2022 B B B1/22 Doggett Drive $940,0002 1 2 - m²| | | 20 Apr 2022 8/2 Fraser Avenue $900,0002 2 1 - m²| | | 28 May 2022B 2/1987 GC Highway $680,0002 B1 1 40m²| | | 21 Apr 2022 A42/1 Great Hall Drive $985,0003 2 2 148m²| | | 25 Jun 2022 57/1 Great Hall Drive $720,0002 2 1 - m²| | | 27 Apr 2022 B B B21/8 Marine Parade $725,0002 1 1 104m²| | | 6 Jun 2022 1/98 Marine Parade $1,600,0002 2 2 117m²| | | 2 Apr 2022B 1/142 Marine Parade $4,000,0003 B2 3 319m²| | | 29 Jun 2022 4/142 Marine Parade $8,125,0004 4 3 458m²| | | 3 Apr 2022 3/8 Mountain View Avenue $705,0002 2 1 145m²| | | 9 Apr 2022 B B B8/3-7 Nagel Avenue $1,515,0002 2 2 121m²| | | 1 Apr 2022 12/3 Redondo Avenue $275,2001 1 - m²| | | 21 Jun 2022 B B 157/7 Redondo Avenue $560,0002 B2 1 101m²| | | 29 Jun 2022 1/8 Riviera Road $923,0002 1 1 113m²| | | 28 May 2022 3/43 Sunshine Parade $720,0002 1 1 - m²| | | 18 Apr 2022 B B B2/47 Sunshine Parade $350,0001 1 1 - m²| | | 21 Jun 2022 2/119 Sunshine Parade $635,0002 2 2 139m²| | | 15 Jun 2022 B B 3/300 The Esplanade $820,0002 B2 1 74m²| | | 11 Apr 2022
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Merrimac
COMMUNITY Fresh & Fabulous Farmers Markets
provide
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
ORGANIC
10 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:
Sundays. EVERY
and
EVERY THURSDAY, FROM 7AM – 11AM 164 Duringan Street, Currumbin CURRUMBIN COMMUNITY 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 SATURDAY, FROM 6AM TO 11:30AM Palm Beach Currumbin High School - Thrower Drive, Palm Beach PALM BEACH CURRUMBIN FARMERS MARKET
Image Source: burleighmarket.com.au
Burleigh Heads State School - 1750 Gold Coast Highway BURLEIGH FARMERS MARKET
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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 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.
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.
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.
395 dylan.taylor@raywhite.com 0459 287 729 sean.taylor@raywhite.com
Dylan & Sean Taylor
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.
seantaylor_realestatedylantaylor_realestate STAY IN TOUCH: 0449
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
12 YOUR AGENTS
13 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
Ray White Burleigh Group
MANAGEMENTPROPERTY ALAN WHITE ELITE 2021 -2022 CHAIRMAN’S ELITE LEADERBUSINESS MANAGEMENTPROPERTY ALAN WHITE ELITE 2021 -2022 CHAIRMAN’S ELITE LEADERBUSINESS 21-22 WE ARE PROUD TO BE AWARDED 14
OUR DIFFERENCE
We know the community because we are part of it. Our agents live here, socialize here, build relationships here, and are strong advocates of the exceptional lifestyle opportunities we have. Propelled by innovation to seek optimum outcomes in all decisions, transactions and interactions, we do what it takes to get the premium price – not just secure the sale – with passion, energy and confidence. At Ray White Burleigh Group we put people before property, building life-long relationships on trust, knowledge and integrity so we are your agent of choice for real estate needs now and into the future. We want our clients to be proud of their choice of real estate agent. We want them to feel empowered and intelligent in their decision to use us to realise their property goals. Every element of our operations comes back to our clients – what`s best for them, how we can achieve better prices for them and how we can make their experience more enjoyable. We are constantly investing in our people, technology, marketing, compliance and processes. As market leaders, we are always challenging the status quo, not because we like to be different, but because we strive to be better.
RECOMMENDATIONS Our Service Providers LOAN MARKET Connor is a standout performer with a simple missionto save you money. He does this by: • Helping you through the home loan process • Comparing loans from over 60 banks & lenders • Finding the right loan to meet your goals Contact Connor Summers for all of your home loan 0404needs!491 connor.summers@loanmarket.com.au307 OMB SOLICITORS If you’re frugal, you may be tempted to tackle the process of selling or buying yourself. But buyers and sellers beware. Without the appropriate expertise, even a simple misstep along the way can result in significant financial, emotional and legal ramifications. Contact OMB Solicitors for all of your property litigation needs. 07 5555 0000 info@omb.com.au 15
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. MIAMI 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
