Ray White Market Monitor July/September 2014

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

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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Withdrawn 6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Withdrawn 5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





AUGU

ST 2

014

JULY

201

4 Auctions 24

Sold 13

Withdrawn 1

Success (%) 56.52%

Clearance (%) 38%

Days on Market 34





SEPT

EMBE

R 20

14

SUCCESS

85%72%

SUCCESS

56%

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• 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





Auctions 102

Sold 67

Withdrawn 5

Success (%) 69%

Clearance (%) 29%

Days on Market 40





QUARTER COMBINED

(JULY - SEPTEMBER 2014)

QUARTER COMBINED

(PREVIOUS QUARTER)

WHA

T TH

E FI

GURE

S SH

OW...

SUCCESS

72%

SUCCESS

69%

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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!

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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.

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Buyer Inspections

JULY 2014 AUGUST 2014 SEPTEMBER 2014

2058total inspections

1499number of open homes

416private 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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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


Total Sold 15


Average Days on Market 34AUGU

ST 2

014

JULY

201

4 Number on Market 286

Total Sold 25



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...


Total Sold 57




Total Sold 79



QUARTER COMBINED

(JULY - SEPTEMBER 2014)

QUARTER COMBINED

(PREVIOUS QUARTER)

TOTAL SOLD TOTAL SOLD

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Who is Buying?

Investors Occupiers

JULY 2014 AUGUST 2014 SEPTEMBER 2014

29%

71%

34%

66%

52%48%

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• 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



vacancy rate

vacancy rate

vacancy rate

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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.

Ray White Market Monitor July/September 2014

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Transcript of Ray White Market Monitor July/September 2014