45 9 $1,725,000 HIGHEST HOUSE SALE PRICE HOUSES SOLD $1,220,000 MEDIAN HOUSE SALE PRICE OUR CLOSEST COMPETITORS AVERAGE DAYS ON MARKET *Statistics from Pricefinder and preliminary Auction data from Ray White TERRANORA MARKET INSIGHTS 1ST MARCH - 30TH APRIL 2024 SUMMARY Sold 10 HOUSES LISTED For Sale $1,700,000 HIGHEST HOUSE LIST PRICE $1,055,000 LOWEST HOUSE LIST PRICE 5 $1,162,000 HIGHEST BLOCK SALE PRICE BLOCKS SOLD $580,000 MEDIAN BLOCK SALE PRICE Sold 2 BLOCK LISTED For Sale $430,000 HIGHEST BLOCK LIST PRICE $400,000 LOWEST BLOCK LIST PRICE OVERALL PERFORMANCE- INSIGHTS FOR THE LAST 8 WEEKS ONLY VACANT LAND- INSIGHTS FOR THE LAST 8 WEEKS ONLY HOUSES - INSIGHTS FOR THE LAST 8 WEEKS ONLY 26 RAY WHITE TUGUN ELANORA AVERAGE DAYS ON MARKET 52% OUR CLOSEST COMPETITORS AUCTION CLEARANCE RATE 89% RAY WHITE TUGUN ELANORA AUCTION CLEARANCE RATE
TERRANORA
1ST MARCH - 30TH APRIL 2024 SOLD A D D R E S S S U B U R B P A R T I C U L A R S P R I C E D A T E OFF MARKET OPPORTUNITY IN C O N T A C T A L E X P H I L L I P S T O D A Y F O R M O R E I N F O R M A T I O N 16 Altitude Boulevard 18 Dobbys Crescent Terranora Terranora 4b 2b 4c $1,700,000 $1,360,000 Apr 23 23 Horseshoe Road 600 Terranora Road Terranora Terranora $1,400,000 $1,010,000 Apr 23 Apr 23 3b 2b 3c 4b 2b 3c 4b 2b 2c 8-16 Shearer Court 17 Feathertop Street Terranora Terranora 3b 2b 2c$1,220,000 Mar 23 Mar 23 4b 2b 2c Apr 23 10 Bushranger Road 5 Banjo Court Terranora Terranora $885,000 $1,725,000 Mar 23 Mar 23 4b 2b 2c 5b 3b 3c 12 Bulla Court 18 Bulla Court Terranora Terranora - $526,500 $530,000 Mar 23 Mar 23 -
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
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
SOLD
Recently Sold by Alex Phillips
SCAN THIS QR CODE FOR AN OBLIGATION FREE PROPERTY APPRAISAL
TO KNOW HOW THESE RESULTS EFFECT THE VALUE OF YOUR HOME?
CURIOUS
WELCOME HOME
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
0404 335 212 alex.phillips@raywhite.com alex phillips rwte
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
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