Ray White Coastal Living Network - Market Monitor Second Quarter Apr-Jun 2018

Market Monitor April - June 2018

Voice of Property on the Sunshine Coast

Coastal Living Offices Ray White Buderim

Ray White Kawana

Ray White Maroochydore

Ray White Mooloolaba

07 5445 6088

07 5354 6012

07 5443 2000

07 5444 3455

raywhitebuderim.com.au

raywhitekawana.com.au

raywhitemaroochydore.com.au

raywhitemooloolaba.com.au

Unparalleled in our local marketplace

Welcome to the latest instalment of the Ray White Market Monitor, reporting on the April to June quarter of 2018.

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 Nambour

Ray White Noosa

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 5354 6000

07 5447 2021

07 5449 8800

07 5354 6002

raywhitenambour.com.au

raywhitenoosa.com.au

raywhitenoosariver.com.au

raywhitesippydowns.com.au

Auction Report APRIL

85%

M AY

JUNE

78%

68%

SUCCESS

SUCCESS

SUCCESS

Auctions

65

Auctions

19

Auctions

31

Sold

51

Sold

14

Sold

21

Withdrawn

5

Withdrawn

1

Withdrawn

0

Success (%)

85%

Success (%)

78%

Success (%)

68%

Clearance

43%

Clearance

42%

Clearance

48%

Days on Market

43

Days on Market

47

Days on Market

39

Registered Bidders

145

Registered Bidders

30

Registered Bidders

54

Pre Auction Offers

73

Pre Auction Offers

10

Pre Auction Offers

35

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

-1.43% 4.03%

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

-2.06% 2.63%

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

-0.05% 2.39%

QUARTER COMBINED | APR-JUNE

PREVIOUS QUARTER COMBINED AS AT 30 June

79%

94%

SUCCESS

SUCCESS

Auctions Sold

115 86

• Over 229 bidders registered on our 115 auctions through the quarter at an average of just under 2 bidders per auction.

• With more bidders, buyers continue to pay a premium over 3.0% on auction day based on their previous offer.

• Pre-auction offers were also well up, 118 versus 86 on the previous quarter.

Auctions

78

Sold

64

Withdrawn

6

Withdrawn

10

Success (%)

79%

Success (%)

94%

Clearance

44%

Clearance

51%

Days on Market

43

Days on Market

44

Registered Bidders

229

Registered Bidders

170

Pre Auction Offers

118

Pre Auction Offers

86

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

-1.18% 3.02%

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

WHAT THESE FIGURES SHOW

-1.46% 1.95%

• Our clearance rate remained strong at 44% through the quarter, with post auction sales jumping quickly to almost 80%.

Auction Success Stories Our sellers built their home 23 years ago, back in 1995 and have lived in the property for that entire time.

During the sales campaign we presented our owners with three separate written contracts before Auction day, but all were declined.

One of these offers was from the buyer who saw the property in week two of the campaign but they needed to sell their own home first. The buyer had fallen in love with the house as soon as she walked in the front door and held on until Auction day. Unfortunately she was unable to be there in person on the day, but was actively bidding over the phone and was the successful, happy buyer when the hammer fell at $495,000.

Inspections: Offers:

21/2 Brisbane Road, Mooloolaba The Syrenuse complex was the first complex to be built on Mooloolaba Esplanade back in 1982 and with only eight units changing ownership over the past 25 years, units in the complex are tightly held on to. In 2014 Syrenuse earned the ‘Enduring Architecture Award’ from the Australian Institute of Architects.

It was a pleasure marketing the property on behalf of our interstate owners. With the property being held in the family since 1993, there were high emotions involved in the sale and having used Ray White previously in Victoria they felt comfortable in approaching

Sale Price:

us to handle the sale of their property.

Our buyers are a lovely couple based in Brisbane who plan to renovate the unit and use it as a holiday home and then eventually retire to it in the years to come. Having friends who also own in Syrenuse they know how special the building is and are over the moon they’ve secured their next home.

Inspections: Offers: Sale Price:

45 One $1,145,000

15 Sorbonne Close, Sippy Downs

30 Three $495,000

Our seller was a lady in her 90’s who was selling her home after 21 years. Her very caring family were a great support and very helpful throughout the sales campaign.

A young lady, who was a first home buyer and had been looking for some time, purchased the property.

34/23 Blackwood Street, Maroochydore Inspections:

30

Offers: Sale Price:

Two $415,000

On Auction day approximately 40 people were in attendance with six bidders registered. It really was a ‘changing of the guard’ when the hammer fell and the property was sold for $415,000. Both our buyer and seller were very emotional on the day and it was a ‘feel good’ real estate experience being part of it.

2 Park Lane, Buderim Potential was key and people realised that some TLC and renovation could return 2 Park Lane, Buderim, into a home to be proud of.

We often get asked how serious are our sellers when it comes selling at Auction. Well in this case the owner couldn’t have been

In a million dollar location surrounded by million dollar homes, advertising stated the property had seen better days. But at the same time, there were benefits that were worth bidding for - like the ocean views and a sought-after north-east aspect.

more serious. He called us on a Sunday telling us he was leaving on the Tuesday, was moving interstate and needed to sell.

The buyer was from Sydney and looking for an investment property for the years to come. He had purchased a unit in the well known Caribbean Mooloolaba off the plan 20 years ago. Our agent had been working with him for three months and knew he was keen on purchasing a unit, we just had to find the right one.

The Auction was well attended and we had three registered bidders. The bidding opened at $240,000 and went up in $5,000’s until $255,000. The bids then went up in $1,000’s until the last bid was a knock out bid of $1,500 from our phone bidder and successful buyer.

38/17-19 Brisbane Road, Mooloolaba

Inspections: Offers: Sale Price:

10 Five $267,000

We had three parties register to bid on Auction day and a young family who are relocating from Brisbane secured the property with their bid of $570,000 and are excited at the renovation to come and create their new home.

Inspections: Offers: Sale Price:

46 Three $570,000

Buyer Inspections APRIL

MAY

JUNE

1895

1661

1103

total inspections

total inspections

total inspections

548

606 number of open homes

675

number of open homes

846

699 private inspections

524

private inspections

1102

567

528

number of open homes

private inspections

buyer inspections at auctions

buyer inspections at auctions

buyer inspections at auctions

Buyer Inspections Total QUARTER COMBINED | APR-JUNE 2018

4659

total inspections

• Our Network conducted an average of almost 400 buyer inspections each week over the last quarter.

1829

• Over 50% of all the recorded buyer inspections viewed our auction properties. Interesting that our auction properties represent just 37% of our advertised properties.

number of open homes

2069 private inspections

2197

buyer inspections at auctions

• Every week our network conducts over 150 advertised open for inspections, simply we meet more buyers then any of our competitors.

Who is Buying?

APRIL

MAY

JUNE

75%

79%

62%

QUARTER COMBINED | APR-JUNE

72%

21%

25%

28%

38%

• 72% of our purchasers are owner occupiers looking to move into their new homes.

• Although investors are only representing 28% of the purchasers, investors do remain very active in the general market.

Owner Occupiers

Investors

More Auctions. More Advertisements.

OPEN HOMES ADVERTISED QUARTER COMBINED

AUCTIONS ADVERTISED QUARTER COMBINED

Taken from final week ending in April, May and June 2018

Taken from final week ending in April, May and June 2018

60

800

59

700 600

50

632 40

500 30

400 300

20

200 10

100

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.

Exclusive Agency Sales Report APRIL

M AY

JUNE

40

58

36

TO

TO

TO

TA L S O L D

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

322 40 12% 75

TA L S O L D

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

304 58 19% 69

TA L S O L D

Number on Market Total Sold

285 36

30 Day Success (%)

13%

Average Days on Market

107

QUARTER COMBINED | APR-JUNE

QUARTER COMBINED | PREVIOUS QUARTER

134

149

TO

TO

TA L S O L D

TA L S O L D

• With over 300 properties on the market, there still remains a good selection of property for potential purchasers.

Number on Market

304

Number on Market

326

Total Sold

134

Total Sold

149

90 Day Success (%)

44%

90 Day Success (%)

46%

Average Days on Market

84

Average Days on Market

76

• The 90 day success rate remains consistent at 44%, which supports that well priced and marketed properties are selling well.

• Compared to auctions, it takes twice as long to sell an exclusive agency listing (86 days) as compared to an auction property (44 days).

Property Management APRIL

MAY

JUNE

101

99

118

properties leased

properties leased

properties leased

14

17

12

average days on market

average days on market

average days on market

99%

97%

97%

occupancy rate

occupancy rate

occupancy rate

Sunshine Coast Grammar FC

Community Corner

Ray White Buderim are proud supporters of the Sunshine Coast Grammar Football Club. The club is run by a group of dedicated parents and volunteers. The focus is on skill development in a fun and supportive environment.

At a weekend game you’ll typically see soccer dad and our Ray White salesperson, Dan Smith on the sideline supporting his sons, Hamish and Henri or flipping sausages as a key member of the ‘Snag Squad’.

FOR A NIGHT

We all know that children love to get messy and nothing beats getting messy for a good cause.

CAPTAIN JACK In April, Ray White Sippy Downs took part in helping raise funds for ‘Captain Jack’. Their very own Matt O’Grady was the main supporter of this event and helped put together an amazing night at the Mooloolah Valley Country Club.

The event was a great success and in total the community raised $30,600 for the Hislop family.

The result of these funds has been the purchase of a van that has made life easier and more comfortable for

Cool Colour Run

Jack to be mobile. He sure loves the ramp and has to be the one to push the button for it to fold up and down. Jack will also now be able to take part in an Intensive TheraSuit Therapy process initially developed by NASA but very successful in the treatment for Cerebral Palsy based in NSW. We would like to thank all of the businesses who donated items for the auction, it was a big part in making the event a success and the bidding was fast and flowing. This was a very humbling activity to be involved with and the support that a small community can muster to help a family that deserves it was overwhelming to say the least.

Thank you once again and just take a look at the smile on Jack’s face!

Clowning Around for Charity On 29 June, Ray White Maroochydore got their red noses out in support of Red Nose Day. Red Nose relies heavily on the generosity of the community to support their advocacy and research programs into the causes of all sudden and preventable childhood deaths, educating the community, and supporting families who have been devastated by the sudden and unexpected death of a child.

The Maroochydore team loved their noses, and were thrilled to have raised funds and awareness for such an important cause.

On Friday 22 June, the Ray White Buderim littlies participated in the Buderim State School Colour Fun Run. More than 1000 students ran across the oval and through the pine forest with lots of colour being thrown around.

In return for such fun, the funds raised from the event will go towards airconditioning the school hall and library.

Š 2018

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