Palm Beach
8 W E E K S U B U R B S N A P S H O T
Suburb Snapshot
1st January - 29th February 2024 Highest Unit Sale Price
14
House sales achieved in January & February 2024
32
Unit
58%
Highest
$2,850,000
House Sale Price
Average DOM *Statistics from Pricefinder and preliminary Auction data from Ray White
84 Suburb
January&February2024
$29,860,000 Total
of Property
$1,630,000 Median
RWTE Average DOM January&February2024
Worth
Sold
House Sale Price 23
Suburb Auction Clearance January&February2024
RWTE Auction Clearance January&February2024
88%
$5,500,000 $52,804,500 Total Worth of Property Sold $1,092,000
PALM BEACH
sales achieved in January & February 2024 Median Unit Sale Price
Recently Sold
PALM BEACH
*AllinformationsourcedisfromPricefinder&thisreportprovidesanoverviewofallsalesthathavetakenplaceinthearea,byallagentsnotonlythoseofRayWhiteTugun/Elanorabutotheragenciesaswell Inpreparingthisdocumentwehave usedourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate butweacceptnoresponsibilityanddisclaimallliabilityinrespecttoanyerrors omissions inaccuracies ormisstatementsthatmayoccur ADDRESS SUBURB PARTICULARS PRICE DATE
210/10 Gold Coast Highway Palm Beach 2b 1b 2c $770,000 Jan 24 201/2C Twenty Seventh Avenue Palm Beach 4b 3b 2c $5,500,000 Jan 24 402/6 Palm Beach Avenue Palm Beach 2b 2b 1c $1,280,000 Jan 24 13/1306 Gold Coast Highway Palm Beach 2b 1b 2c $700,000 Jan 24 5/1306 Gold Coast Highway Palm Beach 3b 1b 1c $720,000 Jan 24 42 Tallebudgera Drive Palm Beach 4b 3b 2c $1,820,000 Jan 24 19/1263 Gold Coast Highway Palm Beach - $1,060,000 Jan 24 5/373 Cypress Terrace Palm Beach 2b 2b 1c $800,000 Jan 24 504/949-953 Gold Coast Highway Palm Beach 3b 3b 2c $3,200,000 Jan 24 5/14 Brooke Avenue Palm Beach 2b 1b 1c $630,000 Jan 24 1/973 Gold Coast Highway Palm Beach 2b 2b 1c $850,000 Jan 24 1501/10 Gold Coast Highway Palm Beach 3b 2b 3c $950,000 Jan 24 1-6/44 Tallebudgera Drive Palm Beach 7b 6b 0c - Jan 24 3/12 Twelfth Avenue Palm Beach 3b 1b 1c $925,000 Jan 24 6/1444 Gold Coast Highway Palm Beach 1b 1b 1c $350,000 Jan 24 37 Palm Beach Avenue Palm Beach 3b 1b 1c $1,275,000 Jan 24 2/1292 Gold Coast Highway Palm Beach 3b 2b 2c $1,277,500 Jan 24 603/949 Gold Coast Highway Palm Beach 4b 3b 2c $3,350,000 Feb 24 85 Tahiti Avenue Palm Beach 4b 1b 1c $1,470,000 Feb 24 30 Barracuda Court Palm Beach 3b 2b 3c $2,800,000 Feb 24 9/61-83 Tallebudgera Drive Palm Beach 2b 2b 2c $962,000 Feb 24 9 Sycamore Place Palm Beach 5b 3b 3c $2,665,000 Feb 24 1/16 Tenth Avenue Palm Beach 3b 2b 2c $1,185,000 Feb 24 11 Barberry Court Palm Beach 3b 2b 2c $2,000,000 Feb 24
19/1263 Gold Coast Highway Palm Beach 2b 2b 1c $1,060,000 Feb 24
1st January - 29th February 2024
Recently Sold
PALM BEACH
1st January - 29th February 2024
*AllinformationsourcedisfromPricefinder&thisreportprovidesanoverviewofallsalesthathavetakenplaceinthearea,byallagentsnotonlythoseofRayWhiteTugun/Elanorabutotheragenciesaswell Inpreparingthisdocumentwehave usedourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate butweacceptnoresponsibilityanddisclaimallliabilityinrespecttoanyerrors omissions inaccuracies ormisstatementsthatmayoccur ADDRESS SUBURB PARTICULARS PRICE DATE
1707/1328 Gold Coast Highway Palm Beach 2b 2b 1c $1,050,000 Feb 24 3/40 Jefferson Lane Palm Beach 3b 2b 2c - Feb 24 20 Allawah Avenue Palm Beach 4b 2b 5c $1,625,000 Feb 24 201/88 Jefferson Lane Palm Beach 3b 2b 2c $2,200,000 Feb 24 1267/1237 Gold Coast Highway Palm Beach 3b 2b 1c $1,400,000 Feb 24 9/4 Murlong Crescent Palm Beach 2b 2b 1c $1,092,000 Feb 24 4/969 Gold Coast Highway Palm Beach 2b 2b 1c $1,260,000 Feb 24 605/60 Jefferson Lane Palm Beach - $1,330,000 Feb 24 2/10 Third Avenue, Palm Beach Palm Beach 3b 2b 2c $1,500,000 Feb 24 1/12 Murlong Crescent Palm Beach 2b 1b 1c $1,088,000 Feb 24 94 Parnki Parade Palm Beach 3b 2b 2c $2,850,000 Feb 24 27/955 Gold Coast Highway Palm Beach 2b 2b 1c $795,000 Feb 24 61 Palm Beach Avenue Palm Beach 3b 1b 1c $1,375,000 Feb 24 1005/1269 Gold Coast Highway Palm Beach 2b 2b 0c $1,250,000 Feb 24 2503/1328 Gold Coast Highway Palm Beach 2b 2b 1c $1,070,000 Feb 24 2/37 Twenty Seventh Avenue Palm Beach 3b 3b 0c $1,520,000 Feb 24 13 Myrtle Court Palm Beach 4b 2b 2c $1,630,000 Feb 24 9 Cypress Terrace Palm Beach 4b 2b 3c $2,150,000 Feb 24 703/6 Palm Beach Avenue Palm Beach 3b 2b 2c $2,225,000 Feb 24 42 Twelfth Avenue Palm Beach 5b 3b 4c $2,775,000 Feb 24 50 Fifth Avenue Palm Beach 3b 2b 3c - Feb 24
WHY SELL NOW?
REAL-TIME DATA FROM RAY WHITE'S CHIEF ECONOMIST, NERIDA CONISBEE
Australian property prices continued to increase in December and into January and are now well above the previous peak in 2021 for both houses and units. While surprising, given the rapid interest rate increases, the growth reflects a combination of continued population growth and limited new housing supply
With supply levels expected to remain limited this year despite some stability in construction costs emerging, sentiment surrounding interest rates being at their peak are likely to lead to continued price growth
Listing volumes ended 2023 aligned with results in 2022; historically, December has subdued results given the holiday season January, historically, also has a slower start to the year, however preliminary data for 2024 is suggesting alignment with prior years While price growth usually results in greater properties coming to market, the mismatch between construction and population has led to sellers being cautious about bringing their home to market
Auction clearance rates did see some decline during the end of 2023, yet remained ahead of 2022 results Auction clearance rate results for January 2024 have shown encouraging results on the Southern Gold Coast, with Ray White Tugun Elanora achieving 100 per cent, ahead of the 2023 rate of 86 per cent Lack of stock, resulting in greater competition at auction despite elevated interest rates, will likely continue to be a feature this year
Bidder activity across the Ray White Group has shown significant improvements in 2024, with the number of active bidders up, with registered bidders also showing increase As listings remain tight, competition to secure homes will likely result in greater bidder activity this year
Welcome Home
PALM BEACH SALES
Recently Sold by Ray White Tugun Elanora
164 Mallawa Drive, Palm Beach
SOLD $2,950,000
Private Treaty
50
SOLD $1,780,000
Online Auction
118 Melaleuca Drive, Palm Beach
SOLD $2,410,000
Private Treaty
15
SOLD $1,400,000
Prior to Auction
Avenue, Palm Beach
Fifth
Waikiki Avenue, Palm Beach
Through continual hard work, unmatched enthusiasm & a genuine passion for property John has not only become the No 1 agent in our local area but as a Chairman's Elite Member he is in the top 1% of the entire Ray White Group internationally, achieving the highest accolade within the network
John’s friendly outgoing personality & innovative approach belies a highly skilled negotiator with over 13 years of Real Estate sales experience By maintaining a positive attitude & combining comprehensive communications through a proven marketing strategy, John is achieving more sales with greater results for each of his valued clients
John leads his own personal team of highly trained professionals who work together to ensure every client receives exceptional service each & every time. This skilled support team paired with the backing of the leading office on the Southern Gold Coast gives John a unique advantage in the local market
By consistently achieving the latest sales in our area John’s local market knowledge is second to none, which is invaluable when helping Owners who are considering selling their biggest asset John understands that being a market leader is not achieved through luck, instead it must be earned then proven, time & time again
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0418 245 590
S C A N / C L I C K T H E Q R C O D E F O R A N O B L I G A T I O N F R E E P R O P E R T Y A P P R A I S A L C U R I O U S T O K N O W H O W T H E S E R E C E N T R E S U L T S M A Y H A V E I N F L U E N C E D T H E P R I C E O F Y O U R P R O P E R T Y ?
JOHN PARKES@RAYWHITE COM JOHN PARKES JOHN PARKES
THE GOLD COASTS LARGEST ONLINE AUCTION EVENT
Sell your property on a monumental scale with the backing of Australia’s #1 Real Estate Network No other marketing campaign has the potential to reach more buyers or build more profile on a national level.
ACHIEVE THE HIGHEST POSSIBLE PRICE ON THE VERY BEST TERMS
Ray White proudly conducted 333 auctions across Queensland in January alone with an average of 5.5 registered bidders per property. With 7 in every 10 Auctions selling in 3 weeks or less, with no finance, no building and pest clause, and no cooling off period Our consistent objective on every individual campaign is simple, to achieve the highest price on the very best terms for our sellers.
MAXIMUM EXPOSURE & UNPARALLELED SUCCESS
From first home buyers to downsizers, investors & expats, the Gold Coasts most skilled and experienced Auction offices will bring together the largest qualified buyer pool no matter where they are located Our ability to draw a crowd and create competition has benefited past sellers whose sale price achieved under the hammer was on average at least 12% higher than the best offer they received prior to Auction in January.
Interested in selling, buying or watching this event?
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www.raywhitetugunelanora.com.au