PALM BEACH MARKET INSIGHTS
45 24 $11,000,000 HIGHEST HOUSE SALE PRICE HOUSES SOLD $1,847,500 MEDIAN HOUSE SALE PRICE OUR CLOSEST COMPETITORS AVERAGE DAYS ON MARKET *Statistics from Pricefinder and preliminary Auction data from Ray White
1ST MARCH - 30TH APRIL 2024 SUMMARY Sold HOUSES LISTED For Sale HIGHEST HOUSE LIST PRICE LOWEST HOUSE LIST PRICE 56 $7,625,000 HIGHEST UNIT SALE PRICE UNITS SOLD $1,196,000 MEDIAN UNIT SALE PRICE Sold UNITS LISTED For Sale HIGHEST UNIT LIST PRICE LOWEST UNIT LIST PRICE OVERALL PERFORMANCE- INSIGHTS FOR THE LAST 8 WEEKS ONLY UNIT/TOWNHOUSE/DUPLEX - 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 29 $2,975,000 $1,600,000 51 $6,950,000 $365,000
PALM BEACH RECENT SALES
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
Street 4/20 Sarawak Avenue Palm Beach Palm Beach 2b 1b 1c $712,000 $658,000
Magnoli Circuit 2/11 Fifteenth Avenue Palm Beach Palm Beach $1,300,000 $717,500 2b 1b 1c 3b 2b 2c 2b 1b 1c 303 Twenty Fourth Avenue 602/10 Gold Coast Highway Palm Beach Palm Beach 3b 2b 2c $1,525,000 $1,810,000 3b 2b 2c 103 Leyte Avenue 28/1 Rolan Court Palm Beach Palm Beach $2,440,000 $765,000 4b 3b 2c 2b 1b 2c
Twenty Eight Avenue Palm Beach 3b 2b 2c $1,675,000 2/12 Twelfth Avenue 4/1055 Gold Coast Highway Palm Beach Palm Beach 3b 2b 1c $985,000 $885,000 2b 1b 1c 1/67 Leyte Avenue Palm Beach $815,000 2b 1b 1c 129 Jefferson Lane 1/79 Tahiti Avenue Palm Beach Palm Beach $11,000,000 $1,795,000 5b 5b 5c 4b 3b 2c 3/88 Jefferson Lane Palm Beach 2b 2b 1c $1,050,000 209/6 Palm Beach Avenue 1/373
Terrace Palm Beach Palm Beach 2b 2b 1c $1,050,000 $801,000 2b 2b 1c 2704/1328 Gold Coast Highway 409/6 Palm Beach Avenue Palm Beach Palm Beach 2b 2b 1c $801,000 $1,100,000 5 Nyrang Avenue 5/3 Culgoa Street Palm Beach Palm Beach $1,100,000 $681,000 2b 2b 1c 3b 2b 1c 2b 1b 1c 1/4 Tahiti Avenue 103 Leyte Avenue Palm Beach Palm Beach 6b 3b 3c $1,520,000 $2,440,000 4b 3b 2c 147 Laguna Avenue 709/1483-1489 Gold Coast Highway Palm Beach Palm Beach $1,280,000 $830,000 3b 1b 2c 1b 1b 1c 102/124-126 Jefferson Lane Palm Beach 3b 3b 2c4/4 Rolan Court Palm Beach 2b 1b 2c $715,000 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24
1ST
4/8 Mawarra
1/2
3/4
Cypress
PALM BEACH RECENT SALES
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 14/3 Lind Avenue Palm Beach $730,000 2b 1b 1c 1/58 Palm Beach Avenue Palm Beach $1,249,0007/3 Lind Avenue 175 Jefferson Lane Palm Beach Palm Beach $695,000 $10,000,000 2b 1b 2c 4b 4b 5c 1/87 Tahiti Avenue Palm Beach 3b 2b 2c $1,900,000 64 Townson Avenue 3/39 Palm Beach Avenue Palm Beach Palm Beach 4b 2b 2c $1,520,000 $1,700,000 3b 3b 2c 1/10 Culgoa Street Palm Beach $600,000 1b 1b 1c 5/14 Fourteenth Avenue Palm Beach 2b 1b 1c79 Townson Avenue 53 Parnki Parade Palm Beach Palm Beach 2b 2b 2c $760,000 $2,400,000 3b 2b 2c 8 Boodera Road Palm Beach $3,500,000 9b 6b 3c 8/1031 Gold Coast Highway 9/2 Nineteenth Avenue Palm Beach Palm Beach $690,000 $1,150,000 2b 1b 2c 2b 2b 1c 9/9 Nalla Court Palm Beach 2b 1b 1c $690,000 35 Diplacus Drive 2709/1328 Gold Coast Highway Palm Beach Palm Beach 4b 3b 2c $3,450,000 - 2b 2b 0c 5/5 Nalla Court Palm Beach 2b 1b 1c $640,000 14 Amboina Avenue 51 Twenty Fourth Avenue Palm Beach Palm Beach 3b 1b 1c $400,000 - 3b 2b 1c 503/14 Twenty Eighth Avenue Palm Beach $995,000 2b 2b 1c 2 Binda Street 7 Eighth Avenue Palm Beach Palm Beach $2,000,000 $1,500,000 3b 2b 2c 4b 2b 2c 73 Tallebudgera Drive Palm Beach 5b 2b 1c $1,955,000 49 Coolibah Drive 10/2 Nineteenth Avenue Palm Beach Palm Beach 3b 2b 2c $1,400,000 $1,360,000 2b 2b 1c 49/2 Nineteenth Avenue Palm Beach 2b 2b 1c $1,360,000 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24 Apr 24
PALM BEACH RECENT SALES
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 2/51 Twenty Fourth Avenue 37 Spindle Street Palm Beach Palm Beach 3b 0b 1c $1,175,000 $1,500,000 4b 2b 4c 7/4 Rolan Court 41 Diplacus Drive Palm Beach Palm Beach $665,000 $2,850,000 2b 1b 1c 3b 2b 2c 8 Bunya Place Palm Beach 3b 2b 2c $1,480,000 9/9 Nalla Court 1611/10 Fifth Avenue Palm Beach Palm Beach 2b 1b 1c $680,000 $545,000 1b 1b 2c 207/2C Twenty Seventh Avenue Palm Beach 4b 4b 0c $7,625,000 11B Morotai Avenue 2/76 Sarawak Avenue Palm Beach Palm Beach 4b 3b 1c $2,310,000 $810,000 2b 2b 1c 3/17 Molucca Avenue Palm Beach $1,110,000 3b 2b 1c 4/1461 Gold Coast Highway 9/10 Nalla Avenue Palm Beach Palm Beach $2,070,000 $590,500 3b 2b 2c 1b 1b 1c 3-7 Twenty Fourth Avenue Palm Beach 2b 2b 0c $1,200,000 11/1251 Gold Coast Highway 6/12 Seventh Avenue Palm Beach Palm Beach 2b 2b 1c $885,000 $1,530,000 3b 2b 2c 45 Sixth Avenue Palm Beach - $1,550,000 1407/10 Fifth Avenue 132 Mallawa Drive Palm Beach Palm Beach 2b 2b 2c $915,000 $3,100,000 5b 2b 4c 8/8 Twenty Second Avenue Palm Beach $750,000 2b 1b 1c 40 Twenty Fifth Avenue Palm Beach 2b 1b 1c $1,396,000 4/7 Mawarra Street Palm Beach 2b 1b 2c $200,000 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24 Mar 24
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
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results driven individual Dion's passion for property & determination to exceed expectations is complimented by his calm, personable nature
A natural negotiator & communicator he believes that the foundation for success begins with taking the time out to really listen to & understand his clients' needs Dion undertakes a process-driven approach with detailed follow-up systems & an innovative marketing strategy this paired with the strength & training of Australia’s leading Real Estate brand gives him a unique competitive edge
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