Ray White - Market Monitor - First Quarter 2017

Jan Ma uary rch 20

Market Monitor

17

VOICE OF PROPERTY ON THE SUNSHINE COAST Ray White Maroochydore

Ray White Buderim

Ray White Mooloolaba

Ray White Sippy Downs

Ray White Noosa

Ray White Noosa RIver

1/4-8 Duporth Avenue

1/66 Burnett Street

1-3/13 Brisbane Road

Shop 15/18 University Way

1/37 Hastings Street

8/113 Poinciana Avenue

Maroochydore

Buderim

Mooloolaba

Sippy Downs

Noosa Heads

Tewantin

07 5443 2000

07 5445 6088

07 5444 3455

07 5354 6002

07 5447 2021

07 5449 8800

raywhitemaroochydore.com.au

raywhitebuderim.com.au

raywhitemooloolaba.com.au

raywhitesippydowns.com.au

raywhitenoosa.com.au

raywhitenoosariver.com.au

Unparalleled in our local marketplace Welcome to the latest instalment of the Ray White Market Monitor, reporting on the January to March quarter of 2017.

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.

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.

Auction Report JANUARY

FEBUARY

MARCH

75%

81%

83%

SUCCESS

SUCCESS

SUCCESS

Auctions 17

Auctions 21

Auctions 18

Sold 12

Sold 17

Sold 15

Withdrawn 1

Withdrawn 0

Withdrawn 0

Success (%)

Success (%)

Success (%)

75%

81%

83%

Clearance 41%

Clearance 67%

Clearance 61%

Days on Market

34

Days on Market

51

Days on Market

45

Registered Bidders

41

Registered Bidders

83

Registered Bidders

62

Pre Auction Offers

6

Pre Auction Offers

12

Pre Auction Offers

7

-1.95%

% Lift on Reserve

0.26%

% Lift from Highest Pre Auction Offer to Sale

2.37%

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

-1.60% 1.76%

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

5.14%

QUARTER COMBINED | JAN - MAR 2017

PREVIOUS QUARTER COMBINED | AS AT 31 DEC

WHAT THESE FIGURES SHOW

• Buyers are paying on average 3% more on auction day than the highest offer prior to auction.

80%

81%

SUCCESS

SUCCESS

• We have seen an increase in the average number of bidders per auction - with 3.3 bidders per auction this quarter, buyer competition is driving the strong success rate.

Auctions 56

Auctions 68

Sold 44

Sold 52

Withdrawn 1

Withdrawn 4

Success (%)

Success (%)

80%

81%

Clearance 56%

Clearance 49%

Days on Market

Days on Market

43

59

Registered Bidders

186

Registered Bidders

150

Pre Auction Offers

25

Pre Auction Offers

27

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

-1.10% 3.09%

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

-1.52% 2.75%

• Our 80% success rate indicates that market conditions remain strong for sellers.

Auction Success Stories

11a Cottman Street Buderim

Cool and coastal in style and decor, yet situated on top of Buderim, 11a Cottman Street has been an exceptional place for the owners to raise their children and over the years watch them develop into budding surf lifesavers.

The constant trips to the beach for board training and events brought about the need to say goodbye to Buderim and seek a home closer to their saltwater passion.

From day one of marketing the property, interest came quickly from many different areas, including the capital cities. A total of 21 groups attended the first open home inspection. A number of second and third inspections singled out the firm prospects in the lead up to the auction day.

Brisk bidding after a start at $650,000 quickly rose to $770,000 before seeking instructions from the seller. Negotiations

continued until the home was sold under the hammer to a very excited local couple.

Sale Price

$795,000

Inspections

87 groups

Prior Offers

None

This home was constructed in 1976 and had undergone some extensive renovations to the exterior of the home including the construction of large stone feature walls and had great potential to renovate the interior of the home.

The sellers are retired prominent business people and the buyers are first home buyers. The auction was held on Saturday 25 March

and the buyers were expecting their first child on Monday 27 March. Fortunately with all the excitement of the auction, the buyer did not go into early labour.

The morning started out wet, however by midday the rain had cleared and a crowd of 25 were in attendance. We had three registered bidders ready for the auction to commence.

Bidding stalled at $635,000, an extended negotiation process took place, with happy buyers and sellers the property was sold.

Sale Price

$650,000

Inspections

28 groups

Prior Offers

None

11 Somerset Drive, Buderim 1/46-48 Alexandra Parade Maroochydore With over 120 groups attending open for inspections during the campaign, this property certainly attracted a lot of attention.

On the day of the auction there were over 30 groups present and 16 registered bidders. One of the gentlemen who was bidding had arrived after the auction had started. He registered to bid and half way through the auction got the chance to have a look through the property and so was literally bidding sight unseen until then.

The successful bidder on the day was a life member of Maroochydore Surf Club and has children who compete for the Club. They now have a very handy base to accommodate the family and enjoy their time on the Sunshine Coast.

Sale Price

$628,000

Inspections

120 groups

Prior Offers

Two

Buyer Inspections JANUARY

FEBRUARY

MARCH

1503

1252

1224

292

276

263

342

279

276

total inspections

number of open homes

private inspections

712

buyer inspections at auctions

total inspections

number of open homes

private inspections

652

buyer inspections at auctions

total inspections

number of open homes

private inspections

482

buyer inspections at auctions

Buyer Inspections Total QUARTER COMBINED  |  JAN - MAR 2017

3979 total inspections

831 number of open homes

897 private inspections

1846

buyer inspections at auctions

Of the 3979 buyer inspections conducted this quarter, 46% of these buyers viewed our 56 auction properties. On average auction properties are generating almost 3x buyer enquiry, as compared to properties marketed with a price.

Who is Buying?

JANUARY

FEBRUARY

MARCH

66%

59%

QUARTER COMBINED | JAN - MAR 2017

37%

65% 35%

34%

41%

63%

Investors have gained momentum in the buying market, currently commanding 37% of all transactions. We often see more investors enter the market when the purchase price to rental return or yield looks more favourable.

Owner Occupiers

Investors

More Auctions. More Advertisements.

100

PICTORIAL ADVERTISING QUARTER COMBINED

AUCTIONS ADVERTISED QUARTER COMBINED

Taken from final week ending in January, February and March 2017

Taken from final week ending in January, February and March 2017 80

89

70

80

62

60 50

60

40

40

30 20

20 10

Competitor 5

Competitor 4

Competitor 3

Competitor 2

Competitor 1

Ray White

Competitor 5

Competitor 4

Competitor 3

Competitor 2

Competitor 1

0

Ray White

0

‘Ray White are the undisputed market leaders on the Sunshine Coast for both property advertising and auctions.’

Private Treaty Sales Report JANUARY

FEB

TO

TAL SOLD

Number on Market Total Sold 30 Day Success (%) Average Days on Market

MARCH

30

53 TO

RUARY

248 53 21% 65

35 TO

TAL SOLD

Number on Market Total Sold 30 Day Success (%) Average Days on Market

250 30 12% 61

TAL SOLD

Number on Market Total Sold 30 Day Success (%) Average Days on Market

242 35 14% 58

QUARTER COMBINED | JAN - MAR 2017

QUARTER COMBINED | PREVIOUS QUARTER

118 TO

128 TO

TAL SOLD

TAL SOLD

Number on Market

247

Number on Market

254

Total Sold

118

Total Sold

128

90 Day Success (%) Average Days on Market

48% 61

90 Day Success (%) Average Days on Market

50% 60

The 48% success rate of sale through the quarter supports our view that we are in peak selling conditions and there are plenty of serious buyers wanting to secure property.

Property Management JANUARY

FEBRUARY

MARCH

92

87

84

properties leased

properties leased

properties leased

18

17

18

average days on market

average days on market

average days on market

99%

99%

99%

occupancy rate

occupancy rate

occupancy rate

Family Fun Days!

Rainforest Sanctuary Family Fun Day On Saturday 25 March, Ray White Buderim and Chris Morrison were proud to present the Rainforest Sanctuary Family Fun Day. The vision for the day was to create a platform for neighbours to meet in a relaxed environment.

Bel Air Family Fun Day Noosa Surfing Festival 2017 Swell and tide dropping, wind elevating from the north, conditions were rapidly deteriorating as the Teams Challenge paddled out. With team members having to tag each other on the beach and a penalty imposed upon those not back in their team zone within the allotted 30 minutes, the Teams Challenge is always energised, and the 2017 final was no different. Leading for the entire heat, the Golden Breed team looked to be a shoo-in, but the internationalists of the Ray White Noosa team were charging, making it back to the sand with five seconds to spare. Silenced in anticipation, they waited for the final score, erupting in cheers as it was announced that they had won by the narrowest of margins, just 0.05 points, over the Golden Breeders.

Great effort Ray White Noosa Team, we can’t wait to see you defend the title next year.

With the long summer days signalling the end of the holidays, what better way to fill the weekend than with some happy, carefree moments with family?

Reuben Park and the friendly Ray White Maroochydore team ensured there was plenty to see and do at their new project, ‘Bel Air at Buderim’. Mums and Dads were able to unwind on the grass under a shady tree while the kids enjoyed a petting zoo, jumping castle, and live radio broadcasts. The free sausage sizzle kept everyone happy and, best of all, it was a time to relax. The event certainly proved popular with over 100 families enjoying the festivities and sunny weather.

The day was entirely free of charge and activities included a sausage sizzle, raffle to win a Ray White yellow bike, bouncing castle and loads of kids entertainment. Chris Morrison said, “It was an absolute pleasure to meet the locals who came out in droves and we would like to say thank you to them for supporting the event and making the day a great success”. We are looking forward to holding our next Ray White Buderim community event.

Š 2017

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