Pimpama Property Market - Quarterly Update - July - September 2022

Gold Coast

UPDATE

Market Run-down

The new financial year has kicked off and

it’s certainly caused some stir. Winter has traditionally been slow with less properties hitting the market and buyer enquiry generally slowing also. But this year in most areas across the Gold Coast sales volume was down 3060%, but why?

The beginning of the quarter saw the start of the larger 0.5% increases in interest rates and that has continued throughout so far. This made many sellers nervous about the potential impacts not only to sales prices, but also to the borrowing power they will be left with to purchase another home.

Another interesting factor has been the resurgence of investor buyers who are noticing an opportunity rarely seen in the market, positively geared investments. As the housing crisis continues to worsen across the state investors are moving a lot of their property holdings to QLD and focusing on the Gold Coast and Brisbane markets.

Points to watch moving forward;

Change in tenancy laws for landlords causing havoc for older properties and periodic tenancies

Interest rate rises easing. As we head to Christmas we are expecting a less aggressive approach to interest rates to encourage spending at retailers over the Holiday period

Notable Results

Mebbin Street

Bree’s Buyer Tips

Here are … important tips for buyers to help you secure the perfect property.

Be Prepared

If you are serious about buying a property, I would recommend speaking to a mortgage broker first. You don’t need to be preapproved, but at least be in the process of obtaining finance. Mortgage brokers will shop around to get the best rate and can also give you an idea of your borrowing capacity before you apply for a loan. They understand what banks are likely to lend in different scenarios, which gives you a better chance of being approved. This is important because if a bank declines your finance, it becomes increasingly difficult to secure finance elsewhere.

There are a lot of fees associated with purchasing a property, some first home buyers may not have a complete understanding of these. A mortgage broker will act as a guide through the process and explain everything involved while setting up a loan to best suit your situation, whether that be a fixed term interest rate, variable or mix of the two. There’s a lot to understand and not being properly prepared can set you up for failure.

Act Fast to Avoid Disappointment

If you find a property that you love, act fast, make an offer, and ensure the offer is serious enough for the seller to consider. Many buyers miss out on properties because they take too long to decide, or they present an unreasonable offer. In a scenario where there are multiple offers, you must place your best offer straight up. Think about what you are realistically prepared to pay and put that figure forward. It is unlikely you will get another chance to increase your offer if a higher one is presented by another buyer; you risk missing out altogether.

Pimpama

Throughout winter and the start of spring we saw very low stock levels with many sellers wary of the changing market. This has actually assisted the market in the area due to the number of buyings still exceeding the number of properties for sale. This has helped us hold prices within the estate where others have had significant drops.

What we have noticed is that buyers are holding the power when there is very little demand on a property, and those that are marketed and priced well are outperforming others.

Seller Review

We have bought and sold a few properties over the years and generally the real estate agents have been pretty good, however, none can match the level of professionalism, communication and authoritative advice that Nathan provides. From the onset, he contacted us within 10 minutes of submitting an online enquiry and didn’t waiver once in keeping us informed at every step of the sale process.

Would we recommend Nathan to represent you and your property to the market, absolutely. Thank you Nathan.

Seller Review

From the first meeting with Nathan, we knew he was the agent for us. He and his team were fantastic from the start. Being first time sellers we were nervous & Nathan kept us well informed at every stage of the process. Communication was spot on from all of his team at All Properties, the marketing was superb, and the result we got because of Nathan & his team we didn’t see possible with anyone else. He has great knowledge of the area and this shows through his results.

Thank you!!

Buyer Review Nathan was always professional and helpful with the sale of my property. He continually keeps you updated and was always communicative. He was always punctual with meetings and very polite and friendly.

Buyer Review

From the very first time we met Nathan till the very end of sealing the deal he has been amazing. All his advice and correspondence has been much appreciated. Highly recommend Nathan.

Construction News

Coomera Public and Private Hospitals announced

Coomera Park n Ride upgrade well underway

Coomera Costco construction on track for pening early 2023

Pimpama Train station early works well underway

Exit 49 Upgrade early works have begun

Coomera Connector investigating works underway in Coomera and Helensvale

Yawalpah Road Pimpama duplication funded

Public transport overhaul on the way for the Northern Gold Coast

0407 760 435

M Design Property Services offers you quality Handyman and Property Maintenance Services. From general repairs to painting and flat pack assembly. We can even assist you with your next DIY project to modernise the interior or exterior of your house. Or even your next home renovations due to wear and tear. We are fully insured for your peace of mind and can handle almost all of your property maintenance tasks you throw at us!

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ALL DATA IS PREPARED USING CORELOGIC RP DATA AND IS BASED ON INFORMATION DISCLOSED AS OF THE 3RD OCTOBER. THIS

IS SUBJECT TO CHANGE.