Jesse Richards
CURRUMBIN SANDS Complex Report
PALM BEACH PROPERTY SPECIALIST 0421 862 jesse.richards@raywhite.com684
Why sell now?
A message from Jesse Richards
Regards,ofprocessOuraverageareScheduledthanOurthanWhatworkwrong.rateSomedecision.TheybusinessAsdramaticallyknowTheAustralianmarketishighfunctioningwithhighturnover,withnottoomuchofagapbetweenbuyersandsellers.Wewe’reinanewcycle,however,inthisNewsletterwewillcoveranumberofreasonswhypricesaren’tlikelytodrophereontheSouthernGoldCoast.ateam,wetakenothingforgrantedandknowwecanachievecompetitionforpropertyinanymarket.We’vebeeninfor20+yearsandrightnowwecontinuetodefytheheadlines.Thefactispeoplebuyandsellpropertyeveryday.upsize,downsize,moveawayandmovehomeaseveryone’spersonalcircumstancesaredifferent.Sellingisapersonalpunditsarenowpredictingupto20percentpricefallsinsomemarketsoffthebackofthesupersized,inflation-bustingrise.Thesewerealsothesamepunditswhowerepredicting30percentfallsatthestartofthepandemic.TheyweresoWe’vealwayssaidthatwedon’thaveacrystalballtopredictthefutureandwe’veneverbeenonetospeculate.Weinthe‘now’.weknowrightnowisthatourallcriticalappraisalnumbersareup62percentontwoyearsagoand22percenthigherlastyear.Thisgivesusconfidencethatthespringpipelineislookingstrong.Stockisrising.openhomesnumbersremainsound(10percenthigherfoottrafficthanoneyearagobutstill22percentlowertwoyearsagoduringtheheightofthepandemic).Ourvolumeofsalesarealsoupontwoyearsagotoo.auctionsacrossourofficesremainhighertoooverthelasttwoyears,andsincepollingdayourclearancesclimbingbacktothemid-60percentranges-whichisactuallyslightlyaboveourlongtermaverage.Ourteam'sdaysonmarketrightnowis22,whichisstilloverafortnightshorterthantheareaaverage.jobhasalwaysbeenthesame.Tocreatecompetitionforoursellers-andwecandothatinanymarket.Theremainsthesametomarketourpropertiesasfarandwidelyaspossibleforoursellers.We’veneverlostsightthat.
Jesse Richards UPDATESCANFORAFREEMARKETPERSONALISEDTOYOURPROPERTY
110/955 Gold Coast Highway, Palm Beach
$690,000$750,000$462,500$701,000$525,000$632,000$825,000$575,000$617,000$780,000$720,000$754,000
ADDRESS
117/955 Gold Coast Highway, Palm Beach
101/955 Gold Coast Highway, Palm Beach
25/02/202101/03/202104/03/202120/03/202119/05/202123/07/202121/08/202115/09/202129/10/202112/11/202204/03/202223/06/2022
$861,000 complex record sale price worth of property sold in the 21/22 FY $754,000 mostsalerecentprice $4,903,500 ofallenquiriescamefromoutofareapostcodes 88%
Currumbin Sands Recent Snapshot
119/955 Gold Coast Highway, Palm Beach
2b 2b 1c 2b 2b 1c 3b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 3b 2b 1c 3b 2b 1c
SALEDATE
97/955 Gold Coast Highway, Palm Beach
35/955 Gold Coast Highway, Palm Beach
93/955 Gold Coast Highway, Palm Beach
102/955 Gold Coast Highway, Palm Beach
61/955 Gold Coast Highway, Palm Beach
ATTRIBUTES
124/955 Gold Coast Highway, Palm Beach
90/955 Gold Coast Highway, Palm Beach
SALEPRICE
14/955 Gold Coast Highway, Palm Beach
PALM BEACH
SOLDQUARTERLAST HIGHESTHOUSES$3,600,000MEDIAN$1,500,000 HOUSES 27 UNITS 60 AVERAGEDOM* HIGHESTMEDIAN$3,950,000$875,000 Palm Beach 54 LGAGOLDCOAST 78 APARTMENTS
Our Market at a glance: 4221 GOLD COAST LGA MEDIANHOUSES$1,000,000AVERAGEDOM60 MEDIAN AVERAGE$620,000DOM78APARTMENTS
0.81% CURRENTVANCANCYRATE 2,256 RENTALSTOCKAVAILABLE 555,721 POPULATIONGOLDCOAST 31.09% RENTALPOPULATION Rent Buy July20 October20 January21 April21 July21 October21 January22 April22 July22 100150200500 OVERSEAS "FOR RENT" SEARCH VOLUMES HAVE SURGED IN RECENT MONTHS Rental Insights
A surge in international student arrivals is likely to add further pressure to already tight Gold Coast rental market. Australia-wide properties are renting faster than ever, and the number of days it took a rental property to be leased after it was listed on realestate.com.au in July hit a historic low 19 days. Nationally, median advertised rents on realestate.com.au have increased by 8% in the past 12 months alone.
For more information or to discuss your own borrowing power, reach out to Connor Summers at Loan Market for your free, no obligation chat
2 50% $693,000 2 75% $672,000 3 00% $653,000 3 25% $634,000 INTEREST RATE P A BORROWING CAPACITY
Borrowing power vs Rate rises
CONNOR SUMMERS 0416 838 673
If the cash rate continues to grow, and the lenders pass on the increase to borrowers, the total amount a borrower can access will decrease.
POTENTIAL
connor summers@loanmarket com au
Annual Salary: $90K Dependents: 0 Loan term: 30 years Average Australian expenses
In the example below, an increase in interest rate by just 0 25 percentage points from 2 5% p a to 2 75% p a would decrease borrowing capacity by $21,000 A change of one percentage point from 2 5% p a to 3 5% p a would decrease borrowing capacity by $77,000
The cash rate has been increasing, with economists from the big four banks predicting it could grow to over 2% The cash rate impacts the interest rate lenders offer on variable rate home loans, which in turn impacts the total amount someone may be able to borrow
BUYER
m Beach Aquatic & Community Centre Redevelopment
What's Happening in Our Neighbourhood
The Department of Transport and Main Roads is undertaking consultation for the upgrade of the Currumbin Creek Road and Bienvenue Drive intersection at Currumbin Waters
Gold Coast Terminal Expansion
The $4 million project is proposing to improve capacity, efficiency and safety at the intersection Design is expected to be finalised in September 2022, with early works (including service relocations) to commence in October 2022 Then in early 2023 construction of the intersection improvements are expected to begin
Set to open late 2022, this three level 30,000 sqm game changer doubles the terminal’s current size connecting with the existing terminal there’ll be room for 19 additional large aircraft to touch down or take off The expansion will accommodate 6 new gates setting the stage for new and returning international and domestic flight connections As the world keeps moving ahead and borders start to re open, links to New Zealand, Singapore, Korea, Japan and Malaysia will be ready to go from the new and improved terminal
Currumbin Creek Road & Bienvenue Drive Intersection
molition is well underway on the Palm Beach Aquatic Centre which l see the site redeveloped and transformed into an exciting mmunity hub Major new features will include a community centre h a multipurpose hall and flexible spaces, new pools for aquatic ivities, a water play area, fitness centre, dance studio, café and che It is also great to know that a target has been set to recycle 95% the former concrete structure and 60% of the building materials The ntre is due to reopen in early 2024 For detailed information and nstruction activities visit cityofgoldcoast com au/pbacc
www.raywhitetugunelanora.com.au
