2
45
$2,670,000 HIGHEST HOUSE SALE PRICE HOUSE SOLD $2,670,000 MEDIAN HOUSE SALE PRICE OUR CLOSEST COMPETITORS AVERAGE DAYS ON MARKET *Statistics from Pricefinder and preliminary Auction data from Ray White BILINGA
INSIGHTS 1ST MARCH - 30TH APRIL 2024 SUMMARY Sold
1
MARKET
HOUSES LISTED For Sale $5,000,000 HIGHEST HOUSE LIST PRICE $3,000,000 LOWEST HOUSE LIST PRICE
$3,370,000 HIGHEST UNIT SALE PRICE UNITS SOLD $1,450,000 MEDIAN UNIT SALE PRICE Sold 7 UNITS LISTED For Sale $4,350,000 HIGHEST UNIT LIST PRICE $950,000 LOWEST UNIT LIST PRICE OVERALL PERFORMANCE- INSIGHTS FOR THE LAST 8 WEEKS ONLY UNITS - 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
7
BILINGA RECENT SALES
1ST MARCH - 30TH APRIL 2024
6/313 Golden Four Drive
5/80 Pacific Parade
1/94 Pacific Parade
5/102 Pacific Parade
3/209-211 Golden Four Drive
23/37-43 Golden Four Drive
202/108 Pacific Parade
5/234 Pacific Parade
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
Bilinga
3b 3b 2c
Bilinga
$3,370,000 $1,190,000
Bilinga Bilinga $2,670,000 $2,601,000 2b 2b 1c 4b 2b 4c 3b 2b 1c
Bilinga Bilinga 2b 2b 2c $1,130,000 $772,500 2b 2b 1c
3b 3b 2c 3b 2b 2c Apr 24 Apr 24 Apr 24 Mar 24 Mar 24 Apr 24 Mar 24 Mar 24
Bilinga Bilinga $2,450,000 $1,450,000
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
WELCOME HOME
Just Sold by Daniel Jeffries
42 Mainsail Street, Currumbin Waters
SOLD $1,610,000
Under the Hammer
5
SOLD $1,250,000
Prior Auction
5
SOLD $2,500,000
Prior Auction
447B Golden Four Drive, Tugun
SOLD $1,840,500
Post Auction
SOLD
Vucus Court, Currumbin Waters
SCAN THIS QR CODE FOR AN OBLIGATION FREE PROPERTY APPRAISAL CURIOUS TO KNOW HOW THESE RESULTS EFFECT THE VALUE OF YOUR HOME?
Dolan Court, Currumbin Waters
Daniel Jeffries
ELITE AGENT, ELITE EXPERIENCE
SOLD
GET TO KNOW YOUR LEADING LOCAL AGENT
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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