Ray White Coastal Living - Market Monitor - Oct-Dec 2020 - Voice of Property on the Sunshine Coast

Market Monitor October-December 2020

Voice of Property on the Sunshine Coast

Coastal Living Offices

Ray White Buderim

Ray White Kawana

Ray White Maroochydore

07 5445 6088

07 5354 6012

07 5443 2000

raywhitebuderim.com.au

raywhitekawana.com.au

raywhitemaroochydore.com.au

Unparalleled in our local marketplace

Welcome to the latest instalment of the Ray White Market Monitor, reporting on the October to December quarter of 2020.

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 Mooloolaba

Ray White Nambour

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 5444 3455

07 5354 6000

07 5449 8800

07 5354 6002

raywhitemooloolaba.com.au

raywhitenambour.com.au

raywhitenoosariver.com.au

raywhitesippydowns.com.au

Auction Report OCTOBER

NO

100%

VEMBER

DEC

EMBER

95%

88%

SUCCESS

SUCCESS

SUCCESS

Auctions

24

Auctions

21

Auctions

26

Sold

22

Sold

20

Sold

23

Withdrawn

2

Withdrawn

0

Withdrawn

0

Success (%)

100%

Success (%)

95%

Success (%)

88%

Clearance

76%

Clearance

73%

Clearance

54%

Days on Market

32

Days on Market

42

Days on Market

27

Registered Bidders

43

Registered Bidders

66

Registered Bidders

53

Pre Auction Offers

17

Pre Auction Offers

16

Pre Auction Offers

23

% Discounting on Reserve % Lift from Highest Pre Auction Offer to Sale

-1.17% 1.12%

% Lift on Reserve

1.34%

% Lift on Reserve

0.76%

% Lift from Highest Pre Auction Offer to Sale

4.52%

% Lift from Highest Pre Auction Offer to Sale

1.74%

QUARTER COMBINED | Oct-Dec

PREVIOUS QUARTER COMBINED AS AT 31 December

94%

97%

SUCCESS

SUCCESS

• Extreme buyer demand is translating to a 94% sale success rate within the reporting quarter.

• Sellers are currently being rewarded with sales prices generally above their reserve price, with an average of 0.31% above reserve across all 71 auctions conducted.

Auctions

71

Auctions

76

Sold

65

Sold

68

Withdrawn

2

Withdrawn

6

Success (%)

94%

Success (%)

97%

Clearance

68%

Clearance

56%

Days on Market

34

Days on Market

29

Registered Bidders

162

Registered Bidders

140

Pre Auction Offers

56

Pre Auction Offers

78

% Lift on Reserve

0.31%

% Discounting on Reserve

% Lift from Highest Pre Auction Offer to Sale

2.46%

% Lift from Highest Pre Auction Offer to Sale

WHAT THESE FIGURES SHOW

-0.47% 3.08%

• Bidder numbers are remaining strong despite some reported challenges of obtaining finance approvals with 162 bidders registering at an average of 2.2 per auction.

Auction Success Stories

1002 ‘Oceans’ 101-105 Mooloolaba Esplanade, Mooloolaba This amazing penthouse is one of only five located Mooloolaba with spectacular 180 degree ocean views.

Our buyers are a family from Melbourne who have stayed in ‘Oceans’ on multiple occasions, just loved the property and wanted a retreat to get away to.

Our sellers are a friendly, professional couple from Newcastle in NSW and had owned the property since 2017. Over the years they have got great enjoyment in the property but are now reinvesting in NSW.

The sellers originally purchased the property from our agent and were happy with the service they received and having a strong relationship over the years, he was given the opportunity to sell the property.

atop a 5 Star Boutique Resort, on the waterfront at

Inspections:

48

Offers:

None

Around 50 inspections both virtual and physical were conducted by interested parties from all over the country and New Zealand. Auction day was lively, with bidding starting at $1.55 million, moving quickly to $1.775 million and with the final bid of an extra $2500 the property was sold under the hammer.

Sale Price:

$1,777,500

Positioned in an extremely sought-after area, surrounded by quality homes, close to popular schools and on a flat block; this home attracted very high enquiry levels.

Our buyers have not long lived on the Sunshine Coast but have children living in the area.

This open plan home with a fabulous entertaining area and side access for the boat ticked all of the boxes for the lucky bidders.

With a very successful marketing campaign, this home saw high open home inspection numbers and enquiries, plus three offers presented prior. A crowd of approximately 40 gathered on auction day with six registered bidders and five actively bidding, the hammer fell at $840,000.

Inspections: Offers: Sale Price:

69 Three $840,000

80 Mountain Creek Road, Buderim

Modern contemporary family home, perfect for entertainers, with panoramic views of the coastline from almost all rooms and living spaces.

Our buyers are a young family relocating from Melbourne with two kids who want to enjoy the Coastal lifestyle. They own a landscape photography company and plan to operate the business from home and the kids are very excited about being so close to the beach.

Around 15 groups attended on auction day including neighbours and bidders. Bidding started at $1m and quickly rose to $1.3m. The Auction was paused to negotiate to $1.4m and the property was offered back to the market and sold to our Melbourne buyers under the hammer.

Inspections: Offers:

11 Donovan Place, Maroochy River

Sale Price:

23 Four $1,400,000

The property was quite popular but some buyers had concerns about flooding which was highlighted because the waterways were easily seen from the home, but in reality it was the same as anywhere else on the coast.

Nobody could articulate the price for the property but the owner had only hoped he would get the $510,000 he paid for it. The buyer is a local adventure enthusiast who loved the block size and the location close to the water. This pocket of properties is also secluded and quite unique.

Some buyers needed a lot of assistance with finance and some were referred to our Loan Market department days before the auction which resulted in two extra bidders. There was a healthy crowd on auction day and five registered bidders including one we were not expecting who arrived on the day.

Inspections: Offers: Sale Price:

3 ‘Mariner On the Pacific’ 10-12 Marina Walk, Alexandra Headland This is a unique property being ground floor, with a front balcony with ocean views and huge exclusive use rear deck as well as common use of roof top area.

The three owners had inherited this property from a relative. It had been an investment property that was rented to a family member for years. The successful bidder was a Brisbane doctor who will holiday let the property initially while using it herself to have a break and may ultimately move in at a later date.

This property was hotly contested, with two offers in the first week it was apparent it wasn’t going to sell prior to auction. The owners trusted in the auction process and with 11 registered bidders, competition was fierce on auction day, ending in a result that was over $250,000 better than the last apartment sale in the building.

Inspections:

135

Offers:

Two

Sale Price:

$1,000,000

24 Waterview Crescent, Bli Bli

53 None $623,000

Where do our Buyers Come From?

OCTOBER Sunshine Coast 72.6% Brisbane 10.5%

NOVEMBER Sunshine Coast 73.7%

Sunshine Coast 65.3%

Brisbane 10.1%

Brisbane 9.9%

Regional QLD 2.0% Regional QLD 3.2% North QLD 1.6% NSW 7.3% VIC 4.8%

DECEMBER

North QLD 2.0% NSW 4.0% VIC 6.1%

Regional QLD 2.0% North QLD 4.0% NSW 5.9%

SA 1.0%

VIC 11.9%

International 1.0%

WA 1.0%

South East Queensland remains the most popular origin for buyers purchasing on the Sunshine Coast.

It is interesting to note that less than 20% of purchasers are from interstate despite recent media speculation suggesting this market to be more dominant.

Buyer Inspections OCTOBER

NOVEMBER

DECEMBER

2,492

2,188

1,149

total inspections

total inspections

total inspections

504

499

244

number of open homes

number of open homes

number of open homes

1,746

1,504

exclusive agency inspections

829

exclusive agency inspections

761

623

341

exclusive agency inspections

buyer inspections at auctions

buyer inspections at auctions

buyer inspections at auctions

Buyer Inspections Total QUARTER COMBINED | Oct-Dec 2020

5,829

total inspections

1,247 number of open homes

4,079 exclusive agency inspections

1,725

buyer inspections at auctions

• Buyer demand has remained strong throughout the quarter with only a slight drop in the overall numbers in December being a shortened month.

• It has not been uncommon to see Open Homes with over 30-40+ buyer inspections each weekend.

Exclusive Agency Sales Report OCTOBER

NO

100 TO

VEMBER

DEC

105 TO

TA L S O L D

95 TO

TA L S O L D

TA L S O L D

Number on Market

291

Number on Market

221

Number on Market

Total Sold

100

Total Sold

105

Total Sold

30 Day Success (%)

34%

30 Day Success (%)

48%

30 Day Success (%)

Average Days on Market

61

Average Days on Market

EMBER

50

Average Days on Market

188 95 51% 38

QUARTER COMBINED (average) Oct-Dec

QUARTER COMBINED (average) PREVIOUS QUARTER

100

77

TO

TO

TA L S O L D

• Available stock levels have declined a significant 35% at the end of December 2020.

TA L S O L D

• Reduced supply of property will only push demand on the available opportunity further in 2021.

Number on Market

233

Number on Market

Total Sold

100

Total Sold

90 Day Success (%)

43%

90 Day Success (%)

Average Days on Market

50

Average Days on Market

287 77 27% 62

• December sales result of 51% success rate is considered ‘extraordinary’ in a market that is clearly favouring sellers.

Property Management OCTOBER

NOVEMBER

DECEMBER

91

78

69

properties leased

properties leased

properties leased

9

10

7

average days on market

average days on market

average days on market

100%

99%

99%

occupancy rate

occupancy rate

occupancy rate

Introducing...

Ray White Buderim 07 5445 6088 buderim.qld@raywhite.com Ray White Kawana 07 5354 6012 kawana.qld@raywhite.com

Real time residential market insights, updated weekly • Market resilience • Selling in the current environment

Ray White Maroochydore 07 5443 2000 maroochydore.qld@raywhite.com

• Why are sales so strong now?

Ray White Mooloolaba 07 5444 3455 mooloolaba.qld@raywhite.com

• Why is there so much buyer confidence now?

• Why should I list now?

• How has COVID-19 reshaped the selling process?

Ray White Nambour 07 5354 6000 nambour.qld@raywhite.com Ray White Noosa River 07 5449 8800 noosariver.qld@raywhite.com Ray White Sippy Downs 07 5354 6002 sippydowns.qld@raywhite.com

For a printed or digital copy, please contact one of our offices.

Š 2021

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