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Withdrawn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Withdrawn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Withdrawn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Withdrawn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Withdrawn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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