OCEANWOOD Complex Report
Alicia Wilkins
CURRUMBIN WATERS PROPERTY SPECIALIST 0402
Somepunditsarenowpredictingupto20percentpricefallsinsomemarketsoffthebackofthesupersized,inflation busting raterise Thesewerealsothesamepunditswhowerepredicting30percentfallsatthestartofthepandemic Theywereso wrong We’vealwayssaidthatwedon’thaveacrystalballtopredictthefutureandwe’veneverbeenonetospeculate We workinthe‘now’
Regards, 630 593
Why sell now?
Alicia
A message from Alicia Wilkins Wilkins
alicia wilkins@raywhite com
Whatweknowrightnowisthatourallcriticalappraisalnumbersareup62percentontwoyearsagoand22percenthigher thanlastyear Thisgivesusconfidencethatthespringpipelineislookingstrong Stockisrising
SCAN FOR A FREE MARKET UPDATE PERSONALISED TO YOUR PROPERTY
Our open homes numbers remain sound (10 per cent higher foot traffic than one year ago but still 22 per cent lower than two years ago during the height of the pandemic) Our volume of sales are also up on two years ago too Scheduled auctions across our offices remain higher too over the last two years, and since polling day our clearances are climbing back to the mid 60 per cent ranges which is actually slightly above our long term average Our team's average days on market right now is 22, which is still over a fortnight shorter than the area average
Asateam,wetakenothingforgrantedandknowwecanachievecompetitionforpropertyinanymarket We’vebeenin businessfor20+yearsandrightnowwecontinuetodefytheheadlines Thefactispeoplebuyandsellpropertyeveryday Theyupsize,downsize,moveawayandmovehomeaseveryone’spersonalcircumstancesaredifferent Sellingisapersonal decision
Our job has always been the same To create competition for our sellers and we can do that in any market The process remains the same to market our properties as far and widely as possible for our sellers We’ve never lost sight of that
TheAustralianmarketishighfunctioningwithhighturnover,withnottoomuchofagapbetweenbuyersandsellers We knowwe’reinanewcycle,however,inthisNewsletterwewillcoveranumberofreasonswhypricesaren’tlikelytodrop dramaticallyhereontheSouthernGoldCoast
SALE PRICE
$660,000 $635,000 $645,000 $196,393 $560,000 $530,000 $415,000 $565,000 $513,000 $358,000 $430,000 $350,000 $397,000 $420,000 $360,000 $348,000
33/31 Simpsons Road, Currumbin Waters
Oceanwood Recent Snapshot
42/31 Simpsons Road, Currumbin Waters
68/31 Simpsons Road, Currumbin Waters
65/31 Simpsons Road, Currumbin Waters
40/31 Simpsons Road, Currumbin Waters
54/31 Simpsons Road, Currumbin Waters
16/31 Simpsons Road, Currumbin Waters
15/31 Simpsons Road, Currumbin Waters
17/31 Simpsons Road, Currumbin Waters
4/31 Simpsons Road, Currumbin Waters
22/31 Simpsons Road, Currumbin Waters
ADDRESS
14/31 Simpsons Road, Currumbin Waters
10/31 Simpsons Road, Currumbin Waters
12/31 Simpsons Road, Currumbin Waters
SALE DATE 02/07/2022 17/03/2022 25/01/2022 08/12/2022 07/12/2021 08/11/2021 22/09/2021 17/09/2021 04/08/2021 24/06/2021 25/05/2021 19/03/2021 12/03/2021 17/02/2021 17/02/2021 03/02/2021
$660,000 complex record sale price most recent sale price worth of property sold in the 21/22 FY $660,000 $7,472,393 of all enquiries came from out of area postcodes 72% In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur Source Pricefinder com
69/31 Simpsons Road, Currumbin Waters
86/31 Simpsons Road, Currumbin Waters
Our Market at a glance: 4223
CURRUMBIN WATERS
HOUSES 23 UNITS 13 AVERAGE DOM*
HOUSES
QUARTER
AVERAGE DOM 78 APARTMENTS
HOUSES
GOLD COAST LGA
DOM 60 MEDIAN
SOLD LAST
AVERAGE $620,000
HIGHEST $981,000 $735,000
MEDIAN
W 51 LGA GOLD COAST 78 APARTMENTS In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur Source Pricefinder com
HIGHEST $4,200,000
CURRUMBIN
MEDIAN $1,161,000
MEDIAN $1,000,000
A surge in international student arrivals is likely to add further pressure to already tight Gold Coast rental market Australia wide properties are renting faster than ever, and the number of days it took a rental property to be leased after it was listed on realestate com au in July hit a historic low 19 days Nationally, median advertised rents on realestate com au have increased by 8% in the past 12 months alone 0.81% CURRENT VANCANCY RATE 2,256 RENTAL STOCK AVAILABLE 555,721 GOLD COAST POPULATION 31.09% RENTAL POPULATION Rent Buy July20 October20 January21 April21 July21 October21 January22 April22 July22 200 150 100 50 0 OVERSEAS "FOR RENT" SEARCH VOLUMES HAVE SURGED IN RECENT MONTHS Rental Insights In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur Source Pricefinder com
Borrowing power vs Rate rises
Annual Salary: $90K Dependents: 0 Loan term: 30 years Average Australian expenses
For more information or to discuss your own borrowing power, reach out to Connor Summers at Loan Market for your free, no obligation chat
The cash rate has been increasing, with economists from the big four banks predicting it could grow to over 2% The cash rate impacts the interest rate lenders offer on variable rate home loans, which in turn impacts the total amount someone may be able to borrow
CONNOR SUMMERS 0416 838 673
BUYER
2 50% $693,000 2 75% $672,000 3 00% $653,000 3 25% $634,000 INTEREST RATE P A BORROWING CAPACITY
If the cash rate continues to grow, and the lenders pass on the increase to borrowers, the total amount a borrower can access will decrease.
connor summers@loanmarket com au
In the example below, an increase in interest rate by just 0 25 percentage points from 2 5% p a to 2 75% p a would decrease borrowing capacity by $21,000 A change of one percentage point from 2 5% p a to 3 5% p a would decrease borrowing capacity by $77,000
POTENTIAL
What's Happening in Our Neighbourhood
Set to open late 2022, this three level 30,000 sqm game changer doubles the terminal’s current size connecting with the existing terminal there’ll be room for 19 additional large aircraft to touch down or take off The expansion will accommodate 6 new gates setting the stage for new and returning international and domestic flight connections As the world keeps moving ahead and borders start to re open, links to New Zealand, Singapore, Korea, Japan and Malaysia will be ready to go from the new and improved terminal
Gold Coast Terminal Expansion
The Department of Transport and Main Roads is undertaking consultation for the upgrade of the Currumbin Creek Road and Bienvenue Drive intersection at Currumbin Waters
molition is well underway on the Palm Beach Aquatic Centre which l see the site redeveloped and transformed into an exciting mmunity hub Major new features will include a community centre h a multipurpose hall and flexible spaces, new pools for aquatic ivities, a water play area, fitness centre, dance studio, café and che It is also great to know that a target has been set to recycle 95% the former concrete structure and 60% of the building materials The ntre is due to reopen in early 2024 For detailed information and nstruction activities visit cityofgoldcoast com au/pbacc
Currumbin Creek Road & Bienvenue Drive Intersection
m Beach Aquatic & Community Centre Redevelopment
The $4 million project is proposing to improve capacity, efficiency and safety at the intersection Design is expected to be finalised in September 2022, with early works (including service relocations) to commence in October 2022 Then in early 2023 construction of the intersection improvements are expected to begin
0402 630 593 | alicia wilkins@raywhite com Alicia Wilkins
www.raywhitetugunelanora.com.au
