Market Insights
As the new year dust begins to settle & we bid farewell to blissful Summer days, we in real estate are prepping for one of our most anticipated selling seasons After a strong start to 2024, Autumn is predicted to be an advantagous time for sellers to reap in the rewards the current market is providing.
Over the past 12 months, house prices have increased by 9 7 per cent while unit prices are up 7 4 per cent. However, growth has accelerated quickly in the first two months of this year. Fundamentally, there are many reasons why the outlook for house prices will be stronger than last year
Population growth was extremely strong last year and we didn’t build enough homes Conditions are slowly improving in the construction sector but they won’t be solved this year Population growth will ease this year, but so too will the number of new homes built.
The outlook for price growth is a problem for affordability. Right now, many people, particularly first home buyers, are being pushed into the established home market given it's cheaper to buy than build With inspections numbers climbing against the same period last year, we're now seeing 21 per cent more people through our open homes
However, it's still only early 2024 and a lot can change, but if current house price trends continue this year, house price growth could exceed 10 per cent this year, with units increasing slightly less Buyers are out, prices are increasing, interest rates are on hold All very positive reasons to sell now!
We hope you find the following newsletter of value and would love to discuss any and all real estate plans y
S O U T H E R N G O L D C O A S T - A U T U M N E D I T I O N 2 0 2 4
A L A N W H I T E ELITE Awarded PERFORMER 22-23 PROUDLY TUGUN’S #1 AGENT & AGENCY 0418 245 590 john.parkes@raywhite.com
WWW RAYWHITETUGUNELANORA COM PROUDLY PRESENTED BY JOHN PARKES
John Parkes
14B DARWALLA AVENUE, CURRUMBIN SOLD UNDER THE HAMMER: $9,200,000 BUYER ORIGIN: LOCAL 8-10 KANDRA AVENUE, CURRUMBIN 13 DURRAN STREET, TUGUN 2/23 BIBY STREET, TUGUN 35-37 WOODGEE STREET, CURRUMBIN 2/13 MALPARARA STREET, TUGUN SOLD VIA PRIVATE TREATY: $1,800,000 BUYER ORIGIN: LOCAL SOLD VIA PRIVATE TREATY: $8,000,000 BUYER ORIGIN: LOCAL SOLD VIA PRIVATE TREATY: $4,575,000 BUYER ORIGIN: LOCAL SOLD UNDER THE HAMMER: $1,110,000 BUYER ORIGIN: LOCAL SOLD OFF MARKET: $1,125,000 BUYER ORIGIN: LOCAL Our Market at a Glance 2023/2024 Summer Recap Our Notable Sales By The John Parkes Team GOLD COAST AVERAGE AUCTION CLEARANCE CURRUMBIN HOUSES HIGHEST $9,200,000 MEDIAN $1 970 000 TOTAL HOUSES 9 AV DOM* RWTE AV 32 SUBURBAV 75 UNITS HIGHEST $1,555,000 MEDIAN $1,040,000 TOTAL UNITS 13 PALM BEACH HOUSES HIGHEST $2,850,000 MEDIAN $1,470,000 TOTAL HOUSES 35 AV DOM* RWTE AV 39 SUBURBAV 81 UNITS HIGHEST $5,500,000 MEDIAN $1,200,000 TOTAL UNITS 79 BILINGA HOUSES HIGHEST $5,500,000 MEDIAN $800,000 TOTAL HOUSES 3 AV DOM* RWTE AV 29 SUBURBAV 53 UNITS HIGHEST $6,800,000 MEDIAN $1,420,000 TOTAL UNITS 14 Calling 75% of all Auctions in our region & 1 in 5 of all Auctions held across the country the numbers speak for themselves - no-one sells more property at Auction than Ray White 56.3% RWTE AVERAGE AUCTION CLEARANCE 85.2% TUGUN SUMMER 2023/24 HOUSES HIGHEST $10 050 000 MEDIAN $1,240,000 TOTAL HOUSES 17 AV DOM* RWTE AV 23 SUBURBAV 53 SOLD UNITS HIGHEST $3,945,000 MEDIAN $1,160,000 TOTAL UNITS 21 SUMMER 2023/24 SOLD SUMMER 2023/24 SOLD SUMMER 2023/24 SOLD SUMMER 2023/24 SOLD SUMMER 2023/24 SOLD SUMMER 2023/24 SOLD SUMMER 2023/24 SOLD
Gold Coast’s Biggest Online Auction Event
is coming & you’re invited!
You’ve loved it, now it’s time to list it! In response to strong buyer interest on the Gold Coast, the Ray White Group has committed to hosting the Gold Coast's biggest Online Auction Event ever!
With 26 Ray White offices on the Gold Coast taking part, the collective collaborative synergy is set to unlock a multitude of possibilities for both participating buyers & sellers
Our May & November 2023 Online Auction Showcases were smashing successes! We achieved incredible results for many local homeowners
With a staggering 1 in 3 buyers being non-local, the Ray White Group's groundbreaking strategy and substantial investment ensure not just widespread visibility but also welcome a varied group of potential buyers interstate and overseas to join in
With guarenteed maximum exposure and unparelled success, we recommend all local homeowners who are considering selling to take advantage of this event Registrations for this event are open but filling up quickly Don’t hesitate, simply scan the QR code below to secure your property the sale it deserves $63,000,000+
460
Whatareyouwaitingfor?
Simply scan to view our event brochure & secure your spot
Worth of property sold
Clearance rate
75%
spectators from 6 different
Live
4,920 Online
countries 1,096
bids places
& international
Properties auctioned
Local, interstate,
bidders 108
Curious to know what your home's worth, today? Simply scan here to book online for an in person or over the phone obligation free valuation 0418 245 590 @john parkes johnparkes@raywhitecom John Parkes We'reheretohelp