8 Week Suburb Snapshot: Bilambil Heights - Alex Phillips

BILAMBIL HEIGHTS RECENT SALES

NATIONAL MARKET WRAP

FROM THE DESK OF THE RAY WHITE ECONOMICS TEAM

Price growth continued again in April with Perth and regional Western Australia seeing the strongest price growth in the country Over the month, Sydney units were the only market where we saw a slight decline in prices Year-on-year we are seeing prices increase in every suburb of the country

The growth in pricing continues despite interest rates remaining high Inflation data released last week suggests interest rates are likely to remain higher for longer Whereas on the morning of April 24, markets were pricing in a cut for October 2024, by April 25, this timing had changed to April 2025 Looking at data at this exact point in time suggests no cut in 2024 We will have a better idea as to the impact on pricing of this change in the interest outlook in May.

Regardless, many of the drivers of house price growth continue Population growth is moderating, however, we built around 50,000 too few homes last year and it will take some time to catch up Construction costs remain elevated and we are off to a poor start to achieving what was set out in the Housing Accord of 1 2 million homes to be built over five years While it remains cheaper to buy an established home than build a new one, it means that price growth will continue

INSIGHTS

AUCTION INSIGHTS

Clearance rates have shown improved strength in 2024 Limited listings and ongoing need for housing stock has translated into good success at auction Results for March 2024 sit at 72 1%, slightly behind 2022 results of 73%, albeit well ahead of last year ’ s results With limited listing numbers and expectations of interest rate reductions, we expect to see greater urgency enter the market, keeping clearance rates elevated this year

FOR MORE PROPERTY MARKET INSIGHTS SCAN THE QR CODE TO READ THE LATEST EDITION OF THE RAY WHITE NOW REPORT

2 Stonehaven Way, Banora Point

SOLD $807,000 Under the Hammer

8 Minto Place, Smiths Creek

SOLD $1,130,000

Under the Hammer

52/6 Gray Street, Tweed Heads West

SOLD $530,000

Post Auction

3/17 Korina Avenue, Coolangatta

SOLD $731,500 Private Treaty

ELITE AGENT, ELITE EXPERIENCE

Forward thinking and fast paced by nature, Alex has an unrivalled flair for customer service having previously owned a business within the hospitality industry It’s his lively character paired with the ability to connect that allows him to establish rapport with his clients in no time at all

Relocating his young family to the Gold Coast in 2015, Alex and his wife Alicia, have a weighted appreciation of the opportunities & lifestyle our region offers Now in the position to raise their children to see the value of hard work, dedication and ambition while teaching them the importance of a hearty, healthful lifestyle. These are principles in life that ultimately reflect in Alex's work ethic.

Humble enough to know all good things take time; with plenty of resources to identify the right answer, he’s approaching each sale from all angles And making sure your campaign’s getting his best one

T U G U N O F F I C E

423 GOLDEN FOUR DR TUGUN QLD 4224

PH: (07) 5598 2577

E L A N O R A O F F I C E

19TH AVE SHOPPING PLAZA

ELANORA QLD 4221

PH: (07) 5576 1011