Stuart
MacLeod Complex Reports
SANCTUARY LAKES & SAND CASTLES ON CURRUMBIN
Somepunditsarenowpredictingupto20percentpricefallsinsomemarketsoffthebackofthesupersized,inflation busting raterise Thesewerealsothesamepunditswhowerepredicting30percentfallsatthestartofthepandemic Theywereso wrong We’vealwayssaidthatwedon’thaveacrystalballtopredictthefutureandwe’veneverbeenonetospeculate We workinthe‘now’
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
Regards,
CURRUMBIN 0432 514 517 stuart macleod@raywhite com
PROPERTY SPECIALIST
SCAN FOR A FREE MARKET UPDATE PERSONALISED TO YOUR PROPERTY
Whatweknowrightnowisthatourallcriticalappraisalnumbersareup62percentontwoyearsagoand22percenthigher thanlastyear Thisgivesusconfidencethatthespringpipelineislookingstrong Stockisrising
A message from Stuart Macleod MacLeod
TheAustralianmarketishighfunctioningwithhighturnover,withnottoomuchofagapbetweenbuyersandsellers We knowwe’reinanewcycle,however,inthisNewsletterwewillcoveranumberofreasonswhypricesaren’tlikelytodrop dramaticallyhereontheSouthernGoldCoast
Why sell now?
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
Asateam,wetakenothingforgrantedandknowwecanachievecompetitionforpropertyinanymarket We’vebeenin businessfor20+yearsandrightnowwecontinuetodefytheheadlines Thefactispeoplebuyandsellpropertyeveryday Theyupsize,downsize,moveawayandmovehomeaseveryone’spersonalcircumstancesaredifferent Sellingisapersonal decision
Stuart
1/40 Teemangum Street, Currumbin
32/40 Teemangum Street, Currumbin
SALE PRICE $890,000 $720,000 $615,000 $600,000 $520,000 $555,000 $570,000 $540,000
16/06/2022 11/05/2022 29/07/2021 05/07/2021 10/05/2021 28/04/2021 27/03/2021 18/03/2021
20/40 Teemangum Street, Currumbin
42/40 Teemangum Street, Currumbin
complex record sale price
$890,000 most recent sale price worth of property sold in the 21/22 FY $890,000 $3,345,000 of all enquiries came from out of area postcodes 97% Inpreparingthisinformationwehaveused ourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate butweacceptnoresponsibilityanddisclaimall liabilityinrespecttoanyerrors,omissions,inaccuracies,ormisstatementsthatmayoccur SourcePricefindercom
68/40 Teemangum Street, Currumbin
ATTRIBUTES
Sanctuary Lakes Recent Snapshot
35/40 Teemangum Street, Currumbin
SALE DATE
2/40 Teemangum Street, Currumbin
3b 2b 2c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 1c 3b 2b 2c
ADDRESS
18/40 Teemangum Street, Currumbin
19/31 Teemangum Street, Currumbin
12/31 Teemangum Street, Currumbin
7/31 Teemangum Street, Currumbin
SALE PRICE $820,000 $815,000 $670,000 $665,000
$820,000
worth
complex record sale price
$820,000 $2,970,000 of all enquiries came from out
Sand Castles on Currumbin Recent Snapshot
SALE DATE 23/07/2022 20/11/2021 28/09/2021 14/03/2021 most recent sale price of property sold in the 21/22 FY of
area postcodes 95% Inpreparingthisinformationwehaveused ourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate butweacceptnoresponsibilityanddisclaimall liabilityinrespecttoanyerrors,omissions,inaccuracies,ormisstatementsthatmayoccur SourcePricefindercom
ATTRIBUTES 2b 1b 1c 2b 2b 1c 2b 1b 1c 2b 2b 1c
5/31 Teemangum Street, Currumbin
ADDRESS
GOLD COAST LGA
APARTMENTS
5 UNITS 7 AVERAGE DOM*
HOUSES
MEDIAN $1,901,000
HOUSES
MEDIAN $1,000,000
SOLD
LAST QUARTER
HIGHEST $4,025,000
Currumbin COAST
HIGHEST $890,000
AVERAGE DOM 60
AVERAGE DOM 78
HOUSES
CURRUMBIN
MEDIAN $850,000
Our Market at a glance: 4223
MEDIAN $620,000
48 LGA GOLD
78 APARTMENTS Inpreparingthisinformationwehaveused ourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate butweacceptnoresponsibilityanddisclaimall liabilityinrespecttoanyerrors,omissions,inaccuracies,ormisstatementsthatmayoccur SourcePricefindercom
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 Inpreparingthisinformationwehaveused ourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate,butweacceptnoresponsibilityanddisclaimall liabilityinrespecttoanyerrors omissions inaccuracies ormisstatementsthatmayoccur SourcePricefindercom
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
For more information or to discuss your own borrowing power, reach out to Connor Summers at Loan Market for your free, no obligation chat
POTENTIAL
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.
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
BUYER
Annual Salary: $90K Dependents: 0 Loan term: 30 years Average Australian expenses
connor summers@loanmarket com au
2 50% $693,000 2 75% $672,000 3 00% $653,000 3 25% $634,000 INTEREST RATE P A BORROWING CAPACITY
Borrowing power vs Rate rises
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
Currumbin Creek Road & Bienvenue Drive Intersection
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
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
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
m Beach Aquatic & Community Centre Redevelopment
Stuart MacLeod
0432 514 517 | stuart macleod@raywhite com
www.raywhitetugunelanora.com.au
