45 10 $6,675,000 HIGHEST HOUSE SALE PRICE HOUSES SOLD $1,282,500 MEDIAN HOUSE SALE PRICE OUR CLOSEST COMPETITORS AVERAGE DAYS ON MARKET *Statistics from Pricefinder and preliminary Auction data from Ray White TUGUN MARKET INSIGHTS 1ST MARCH - 30TH APRIL 2024 SUMMARY Sold 12 HOUSES LISTED For Sale $6,000,000 HIGHEST HOUSE LIST PRICE $950,000 LOWEST HOUSE LIST PRICE 9 $905,000 HIGHEST UNIT SALE PRICE UNITS SOLD $748,000 MEDIAN UNIT SALE PRICE Sold 8 UNITS LISTED For Sale $2,995,000 HIGHEST UNIT LIST PRICE $725,000 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
TUGUN 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 4/4 Clancy Court 1/545 Gold Coast Highway Tugun Tugun 2b 1b 2c $660,000 $905,000 Apr 24 16 Alinjarra Drive 3/454 Coolangatta Road Tugun Tugun $1,250,000 $830,000 Apr 24 Apr 24 3b 2b 2c 4b 2b 1c 3b 4b 1c 1/3 Winders Avenue 20 Chaffey Street Tugun Tugun 4b 5b 3c $1,735,000 $1,575,000 Apr 24 Apr 24 3b 2b 1c Apr 24 10 Moreshead Street 11/6 Clancy Court Tugun Tugun $1,250,000 $652,000 Apr 24 Apr 24 3b 1b 2c 2b 1b 2c 2/521A Gold Coast Highway Tugun 2b 2b 1c $810,000 Apr 24 17 Nangana Street 3 Barina Court Tugun Tugun - $720,000 $1,150,000 Apr 24 4 Dilgara Street 622 Pacific Parade Tugun Tugun $1,150,000 $6,675,000 Apr 24 Apr 24 3b 1b 2c 3b 1b 1c 3b 2b 2c 1/17 Durran Street 20 Bob Barnard Drive Tugun Tugun 2b 1b 1c $845,000 $1,350,000 Apr 24 Mar 24 4b 2b 2c Apr 24 34/558 Gold Coast Highway 46 Kitchener Street Tugun Tugun $748,000 $1,200,000 Mar 24 Mar 24 2b 2b 1c 4b 2b 2c 3 San Michele Street Tugun 4b 2b 2c $1,315,,000 Mar 24 6/29 Alinjarra Drive Tugun 2b 1b 1c $671,000 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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41 Currumbin Chase, Currumbin
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2/181 Cypress Terrace, Palm Beach
SOLD $985,000
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34/560 Gold Coast Highway
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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
0416 516 652 dion.zorko@raywhite.com @dion.zorko
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