THE HILL APARTMENTS Stuart MacLeod Building Report
Theywereso wrong We’vealwayssaidthatwedon’thaveacrystalballtopredictthefutureandwe’veneverbeenonetospeculate We workinthe‘now’ Whatweknowrightnowisthatourallcriticalappraisalnumbersareup62percentontwoyearsagoand22percenthigher thanlastyear Thisgivesusconfidencethatthespringpipelineislookingstrong
TheAustralianmarketishighfunctioningwithhighturnover,withnottoomuchofagapbetweenbuyersandsellers We knowwe’reinanewcycle,however,inthisNewsletterwewillcoveranumberofreasonswhypricesaren’tlikelytodrop dramaticallyhereontheSouthernGoldCoast
Somepunditsarenowpredictingupto20percentpricefallsinsomemarketsoffthebackofthesupersized,inflation busting raterise Thesewerealsothesamepunditswhowerepredicting30percentfallsatthestartofthepandemic
Asateam,wetakenothingforgrantedandknowwecanachievecompetitionforpropertyinanymarket We’vebeenin businessfor20+yearsandrightnowwecontinuetodefytheheadlines
Thefactispeoplebuyandsellpropertyeveryday Theyupsize,downsize,moveawayandmovehomeaseveryone’spersonalcircumstancesaredifferent Sellingisapersonal decision
Stockisrising
PROPERTY SPECIALIST
SCAN FOR A FREE MARKET UPDATE PERSONALISED TO YOUR PROPERTY
Why
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 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 Regards, CURRUMBIN 0432 514 517 stuart macleod@raywhite com sell now? from Stuart Macleod
Stuart MacLeod
A message
complex record sale price The Hill Apartments Recent Snapshot
ADDRESS 23/38 52 Duringan Street, Currumbin 3/38 52 Duringan Street, Currumbin 39/38 52 Duringan Street, Currumbin 24/38 52 Duringan Street, Currumbin 29/38 52 Duringan Street, Currumbin 12/38 52 Duringan Street, Currumbin 1/38 52 Duringan Street, Currumbin 2/38 52 Duringan Street, Currumbin 15/38 52 Duringan Street, Currumbin
ATTRIBUTES 2b 2b 1c 2b 2b 1c 2b 1b 1c 2b 2b 2c 2b 2b 1c 2b 2b 1c 2b 2b 1c 2b 2b 2c 2b 2b 1c SALE PRICE $850,000 $950,000 $805,000 $855,000 $800,500 $950,000 $740,000 $687,000 $645,000 SALE DATE 29/04/2022 31/03/2022 22/12/2021 21/12/2021 03/12/2021 18/11/2021 11/05/2021 23/03/2021 21/01/2021
$950,000 most recent sale price worth of property sold in the 21/22 FY $850,000 $7,282,500 of all enquiries came from out of area postcodes 97% Inpreparingthisinformationwehaveused ourbestendeavourstoensuretheinformationcontainedhereinistrueandaccurate butweacceptnoresponsibilityanddisclaimall liabilityinrespecttoanyerrors,omissions,inaccuracies,ormisstatementsthatmayoccur SourcePricefindercom
Our Market at a glance: 4223 GOLD COAST LGA HOUSES MEDIAN $1,000,000 AVERAGE DOM 60 MEDIAN $620,000 AVERAGE DOM 78 APARTMENTS CURRUMBIN SOLD LAST QUARTER HOUSES HIGHEST $4,025,000 MEDIAN $1,901,000 HOUSES 5 UNITS 7 AVERAGE DOM* HIGHEST $890,000 MEDIAN $850,000 Currumbin 48 LGA GOLD COAST 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
Borrowing power vs Rate rises
borrow CONNOR SUMMERS 0416 838 673 connor summers@loanmarket com au For more information or to discuss your
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
chat POTENTIAL BUYER Annual Salary: $90K Dependents: 0 Loan term: 30 years Average Australian expenses 2 50% $693,000 2 75% $672,000 3 00% $653,000 3 25% $634,000 INTEREST RATE P A BORROWING CAPACITY
borrowing power,
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 own reach out to Connor Summers at Loan Market for your free, no obligation
What's Happening in Our Neighbourhood
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
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
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
m Beach Aquatic & Community Centre Redevelopment 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
0432 514 517 | stuart macleod@raywhite com Stuart MacLeod
www.raywhitetugunelanora.com.au
