ray white market monitor july/september 2014
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Market MonitorJuly-September 2014
Ray White
Maroochydore
1/4-8 Duporth Avenue
Maroochydore
07 5443 2000
raywhitemaroochydore.com.au
Ray White
Buderim
4/72 Burnett Street
Buderim
07 5445 6088
raywhitebuderim.com.au
Ray White
Mooloolaba
1 & 2/13 Brisbane Road
Mooloolaba
07 5444 3455
raywhitemooloolaba.com.au
Ray White
Mountain Creek
1b/158-170 Karawatha Drive
Mountain Creek
07 5477 7600
raywhitemountaincreek.com.au
Ray White
Sippy Downs
7/11-19 Chancellor Village Blvd
Sippy Downs
07 5354 6002
raywhitesippydowns.com.au
VOICE OF PROPERTY ON THE SUNSHINE COAST
1
WELCOME to the eighth edition of the Ray White Market Monitor, reporting on the July to September quarter of 2014.
This document is your window to the industry, revealing detailed statistics we collect on everything from auctions through to property management. The quality, depth and timeliness of this
data reporting is unparalleled in our local market place. Quite simply, nobody is doing this.
Inside these pages you will find a rich array of our collective data and results along with a selection of our auction success stories from the quarter. We have highlighted our Property
Management statistics, buyer inspection reports and finally, our involvement in the communities we call home.
Unparalleled in our local market place.
Maroochydore Buderim Mooloolaba Mountain Creek Sippy Downs
2
Auction Reports
Auctions 31
Sold 18
Withdrawn 6
Success (%) 72%
Clearance (%) 16%
Days on Market 33
Registered Bidders 54
Pre Auction Offers 10
% Discounting from Reserve -0.28%
% Lift from Highest Pre-Auction Offer to Sale 2.25%
SUCCESS
Auctions 32
Sold 23
Withdrawn 5
Success (%) 85.19%
Clearance (%) 41%
Days on Market 34
Registered Bidders 55
Pre Auction Offers 14
% Discounting from Reserve -0.57%
% Lift from Highest Pre-Auction Offer to Sale 2.33%
AUGU
ST 2
014
JULY
201
4 Auctions 24
Sold 13
Withdrawn 1
Success (%) 56.52%
Clearance (%) 38%
Days on Market 34
Registered Bidders 55
Pre Auction Offers 13
% Discounting from Reserve -0.45%
% Lift from Highest Pre-Auction Offer to Sale 5.11%
SEPT
EMBE
R 20
14
SUCCESS
85%72%
SUCCESS
56%
3
• There has been a slight decline in the number
of properties auctioned from the previous
quarter, however our indicators show that the
pre-Christmas period is looking busier than ever.
• Days on market is sitting at 34 days, a fantastic
result given that the average Auction campaign
is 4 weeks long. Therefore, properties are either
selling under the hammer or only a matter of
days post auction.
• Less than 25% of registered bidders submit
pre-auction offers, preferring to negotiate on the
day of Auction.
Auctions 87
Sold 54
Withdrawn 12
Success (%) 72%
Clearance (%) 32%
Days on Market 33.67
Registered Bidders 164
Pre Auction Offers 37
% Discounting from Reserve -0.13%
% Lift from Highest Pre-Auction Offer to Sale 3.23%
Auctions 102
Sold 67
Withdrawn 5
Success (%) 69%
Clearance (%) 29%
Days on Market 40
Registered Bidders 180
Pre Auction Offers 41
% Discounting from Reserve -1.36%
% Lift from Highest Pre-Auction Offer to Sale 1.86%
QUARTER COMBINED
(JULY - SEPTEMBER 2014)
QUARTER COMBINED
(PREVIOUS QUARTER)
WHA
T TH
E FI
GURE
S SH
OW...
SUCCESS
72%
SUCCESS
69%
4
Auction Success Stories
This was one of the longest auctions on the year
93 Bradman Avenue, Maroochydore
Sale Price:$905,000Inspections: 42Prior Offers: 2
totaling 47mins from start to finish. Bidding commenced at $650,000 and moved at good speed with two bidders before pausing at $825,000. The highest bid was then raised after much discussion to $885,000 where the property was placed ‘on the market’ and bidding re-opened. With the property now on the market, the underbidder whom last bid was $823,000 then jumped back into the fight. The bids kept coming in 2’s and 3’s before the bid hit $905,000 and the hammer fell for a sale.
The property was built by the sellers 22years ago and is one of only 5 remaining houses on an over 1000m2 block remaining on Bradman Avenue. The property was attractive to developers under the new town plan that indicated a new height limit of 4 storeys, and home owners wanting a grand home on the riverfront. Without knowing who the ‘best buyer’ type would be, the sellers decided on a South East QLD specific marketing campaign. You can never underestimate the reach of well planned marketing campaign, as the eventual buyers came from Country Victoria, they saw the property online and watched the video, with their son doing the bidding on the day of auction.
The sellers have secured an apartment on nearby Duporth Avenue, downsizing their home but not their views!
5
and almost all of them would have been unaware it was even there! This unique prestige unit sits in the heart of Mooloolaba, above the Australia Post Office on Brisbane Road. The property was originally designed as a restaurant but instead provided a happy home for many years for the sellers.
Given the landmark position and identity of this property, the auction attracted
$300,000, this very neat but compact 3 bedroom home was undoubtedly Buderim’s best buy. Why buy a unit or duplex when for the same price you can have this freshly painted home on a flat 731m2 block? A short 1 min walk to the local IGA and shopping centre.
Sellers walked on up to the agents auction at 26 Pittards Road earlier in the year. Despite it being the first time they had viewed the property they purchased it under the hammer. Their newly purchased property was still occupied by tenants, giving the sellers plenty of time to sell their home in preparation to move down the road to No. 26.
ALMOST EVERY SUNSHINE COAST RESIDENT WOULD HAVE DRIVEN BY THIS PROPERTY
WITH THE RESERVE ALREADY SET BELOW
11 PITTARDS ROAD, BUDERIM
a great crowd of locals and interested buyers. The crowd kept building despite the fact it was raining, it only added to the atmosphere
The buyer is a lady who was living on a 23 acre property near Montville. She made the move to be closer to family and social activity. She now needs to sell her property and will rent ‘The Post Office’ out until she has secured a buyer.
4/32-34 BRISBANE ROAD MOOLOOLABA
Sale Price: $1,150,000Inspections: 47Prior Offers: 1
In pouring rain, a crowd of 56 turned up to watch Auction proceedings at 11 Pittards Road. The Auction was very much anticipated as the reserve of under $300,000 had been set and was made known to interested parties throughout the marketing campaign. Bidding commenced at $300,000 and increased in $2,500 increments until it reached $310,000 where it slowed to increases of $1,000 until it sold under the hammer for $316,0000. There were 11 bids in total and 3 active bidders, the winning buyer is a builder by trade and has big plans to begin extending the home.
Sale Price: $316,000Inspections: 84Prior Offers: Owner would not accept prior offers.
6
Buyer Inspections
JULY 2014 AUGUST 2014 SEPTEMBER 2014
2058total inspections
1499number of open homes
416private inspections
1763total inspections
1255number of open homes
388private inspections
2190total inspections
1778number of open homes
373private inspections
7
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PICTORIAL ADVERTISING QUARTER COMBINED
Taken from final week ending in July, August and September.
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in July, August and September.
49
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8
Private Treaty Sales Reports
17 15 25TOTAL SOLD TOTAL SOLD TOTAL SOLD
Number on Market 276
Total Sold 17
30 Day Success (%) 6%
Average Days on Market 33
Number on Market 294
Total Sold 15
30 Day Success (%) 5%
Average Days on Market 34AUGU
ST 2
014
JULY
201
4 Number on Market 286
Total Sold 25
30 Day Success (%) 8%
Average Days on Market 34
SEPT
EMBE
R 20
14
9
• There are currently an unprecedented number
of buyers inspecting properties, with over 6000
buyer inspections this quarter. This could be
directly related to the drop in days on market
from the previous quarter.
• There are fewer sales in this quarter compared
to the previous quarter, however the Spring
season is recognised industry-wide as being
the busiest period in Real Estate. This quarter
is commonly viewed as the ‘calm before the
storm’.
57 79Total No. Properties Sold Total No. Properties Sold
WHA
T TH
E FI
GURE
S SH
OW...
Number on Market 285
Total Sold 57
90 Day Success (%) 20%
Average Days on Market 34
Number on Market 278
Total Sold 79
90 Day Success (%) 28%
Average Days on Market 47
QUARTER COMBINED
(JULY - SEPTEMBER 2014)
QUARTER COMBINED
(PREVIOUS QUARTER)
TOTAL SOLD TOTAL SOLD
10
Who is Buying?
Investors Occupiers
JULY 2014 AUGUST 2014 SEPTEMBER 2014
29%
71%
34%
66%
52%48%
11
• There was a recognisable swing throughout
the course of this quarter, July and August saw
owner occupiers as the dominant buyer group.
However in September Investors re-emerged
completing 52% of transactions.
• Investors commonly purchase when yield
is better, so this recent change could have
come about by either more ‘investment grade’
properties coming to the market or owner
occupiers buying less.
• Both buyer groups know there is good value
on offer and likelihood of future price growth
is sound. WHA
T TH
E FI
GURE
S SH
OW...
62%
QUARTER
38%
12
Property Management
65 67
24 17 16
0.38% 0.19% 0.30%
67JULY 2014 AUGUST 2014 SEPTEMBER 2014
properties leased
properties leased
properties leased
average days on market
average days on market
average days on market
vacancy rate
vacancy rate
vacancy rate
13
Wishlist Spring Lunch was held Friday 19th September and raised a record $162K for the Wishlist Charity.
This year the fundraising focus was for an Endoscopic Ultrasound. Dan Sowden, Principal of Ray White Maroochydore, conducted the Charity Auction on the day with the help of staff from across our group acting as spotters in the crowd along with the very enthusiastic Natalie Barr and Mark Berretta from Channel 7’s Sunrise. A record breaking $162,000 was raised on the day, the highest figure achieved from the Spring Wishlist event to date. These generous donation will go towards improving the health facilities available to all Sunshine Coast residents.
Spring WishlistThe Sunshine Coast sent winter off with a bang at the Sunshine Coast Marathon over the weekend of 30-31st August 2014.
Now in it’s third year, the Sunshine Coast Marathon has become one of Australia’s most loved running events. The course is renowned internationally as a beautifully scenic run, that caters to competitors of all ranging abilities.
We are so proud of the 50 staff across our group of Ray White offices that were involved in both volunteering and competing. We had staff competing in the half marathon, 10km and 5km events, many of them were first-timers, one of them being Courtney Martin from our Buderim office, who took out 1st place in her age group in the half marathon. Our staff are happy to give up their own time to volunteer over the
event weekend and assist the 6500 runners who took part, with many other staff being very vocal supporters on the sidelines.
The final count for funds raised in 2014 is expected to beat previous years, with 100% of event profits going to groups such as Ronald McDonald House Charities and The Westpac Foundation, along with more than 70 worthwhile local causes as voted by the runners.
It’s no surprise that each year this event keeps getting bigger and better, supported by the 400+ Ray White Volunteers, working relentlessly across the weekend to pull together a fantastic community event. We can’t wait to see what the 2015 Sunshine Coast Marathon has in store for us, and congratulations and thank you to all involved over the weekend!
Marathon
Tough Mudder came to town again this year, and we entered a Ray white team for the second time. This is the toughest endurance event on the planet and a fantastic team bonding opportunity. Tough Mudder Sunshine Coast is stretched out over nearly 10,000 acres of wide open wilderness, making it the largest Tough Mudder course on the planet.
Fast Facts on the event:
• 18 kilometers
• 20 obstacles
• More than 20,000 competitors over 2 days
• Estimated $10 million into the Coast economy.
Tough Mudder
© 2014
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior written permission of the publisher.
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