Ray White Monthly Market Monitor Edition 3 - 2013

Market Monitor

THE VOICE OF PROPERTY ON THE SUNSHINE COAST

Ray White Maroochydore1/ 4-8 Duporth Avenue

Maroochydore07 5443 2000

raywhitemaroochydore.com.au

Ray White Buderim4/72 Burnett Street

Buderim07 5445 6088

raywhitebuderim.com.au

Ray White Mooloolaba1 & 2/13 Brisbane Road

Mooloolaba07 5444 3455

raywhitemooloolaba.com.au

Ray White Mountain Creek1b/158-170 Karawatha Drive

Mountain Creek07 5477 7600

raywhitemountaincreek.com.au

Welcome to the third edition of the Ray White Market Monitor, reporting the second quarter of 2013.

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

producing insights like this.

The traditionally colder months of 2013 have been staved off with increased buyer confidence on the back of the Reserve Bank’s decision

to lower interest rates to a 53 year low. With brimming confidence buyer numbers grew to a point where we conducted in excess of 1000

inspections during each calendar month.

As a result, both auction bidding registrations and clearance rates peaked beyond previous quarters. This high level of activity we believe has us

well poised for an exciting spring period where we may for the first time in many years see signs of stronger prices obtained in some markets.

Unparalleled in our local market place.

Auction Reports

MAY 2013 JUNE 2013

Total Auctions 23 Total Auctions 29

Total Withdrawn 2 Total Withdrawn 1

Clearance % 43% Clearance % 34%

Registered Bidders 27 Registered Bidders 48

% Discounting from Reserve -2.61% % Discounting from Reserve -1.05%

Total Sold 14 Total Sold 14

Success (%) 66.67% Success (%) 50%

Days on Market 31 Days on Market 45

Pre Auction Offers 4 Pre Auction Offers 6

% Lift from Highest

Pre-Auction Offer to Sale 0.54%

% Lift from Highest


APRIL 2013

Total Auctions 23

Total Withdrawn 4

Clearance % 35%

Registered Bidders 41

% Discounting from Reserve -0.72%

Total Sold 14

Success (%) 73.68%

Days on Market 50

Pre Auction Offers 11

% Lift from Highest


Quarter at a Glance

What the figures show ...• The expectations of price between

buyers and sellers has never been tighter, the latest period shows a variation of only 3.75% and 7.29% respectively, with both sellers (discounting) and buyers (lifting) adjusting less

• Less sellers were withdrawing their properties post auction this quarter. Suggesting there is more post auction activity amongst buyers

• Just under 2⁄3 properties are selling via the auction process

• Less buyers made pre-auction offers, however the clearance rate was slightly higher on the previous quarter.

QUARTER COMBINED

(April - June 2013)

Total Auctions 75

Total Withdrawn 7

Clearance % 37.33%

Registered Bidders 116


Total Sold 42

Success (%) 61.76%

Days on Market 42


% Lift from Highest


QUARTER COMBINED

(January - March 2013)

Total Auctions 66

Total Withdrawn 12

Clearance % 33.3%

Active Bidders 63


Total Sold 46

Success (%) 85.18%

Days on Market 43


% Lift from Highest


Auction Success Stories

2 Bunyarra Court Buderim

Inspections: 60

Number of Offers: 4

Date: April 20, 2013

Sale Price: $501,000

ThiS BeAuTiful BuDeRiM hoMe attracted a lot of interest immediately, with 60 buyer inspections throughout the campaign. The property boasted 6 bedrooms, 4 bathrooms, 2 car spaces, ocean views and a Pool. The huge home had been partially de-constructed by the previous owners so required restoration work.

The early interest delivered come auction day with over 40 people in attendance and 2 buyers quickly establishing themselves as the main contenders. Bidding started at $200,000 and then rose to $450,000 when it slowed to $5,000 bids, then $1,000 and finally $500 bids. The final bid of $501,000 won it for a young couple with a child in a stroller, to the applause of those attending.

This property was a perfect example of the power of auctions as both the eventual purchaser and under bidder were, prior to auction, looking to pay no more than $450,000 to secure a home. The removal of the price caused buyers to look at the property, fall in love with it and finally pay what they had to, to own it.

Date: June 15, 2013 Number of Offers: 2

Date: May 25, 2013 Number of Offers: 16

VieWeD AND SolD iN 15 MiNuTeS A late start didn’t deter the buyers of this property. They arrived as the opening bid was called, the agent asked if they were here to buy property and they replied “yes”. He asked them to inspect the property, all the while aware the auction was currently underway.

After walking through the front door and inspecting the living space the decision was made; the buyer increased the bid to $350,000 and after inspecting the rest of the property the bid increased to $390,000. The auctioneer paused the auction to allow the buyers the time to do some due diligence, with a building inspection previously supplied. Negotiations continued and the seller agreed to an increase.

ThiS lARGe WATeRfRoNT BeAuTY certainly drew a crowd on auction day. The 4 bedroom, 2 bathroom, 2 car home was immaculately presented. The owners had already committed to a purchase elsewhere so required a speedy sale.

There was genuine local and regional interest in the property from the beginning with

three different groups of clients attending nearly every open home held each weekend. This commitment meant that come auction day the crowd knew each other almost as well as they knew the house. With a total of three registered bidders on the day,the winning bid came in at $745,000 to secure a new family for this Twin Waters home.

12 Mariner Pl, Twin Waters

Inspections: 32 Sale Price: $745,000

69 Sam White Drive, Buderim

Inspections: 1 Sale Price: $402,500

in April to June 2013, we generated 3,409 buyer inspections and 1,438 buyers attended our 75 onsite auctions.

Buyer Inspection SnapshotsApril May June

1,169total inspections



276no. of open homes

288private inspections





Advertising Snapshots

“on average, Ray White has more than 3x the property advertisements of our five closest competitors, and conduct nearly 5x as many auctions.”

Pictorial Advertising Quarter CombinedTaken from final week ending in April, May and June.

Auctions Advertised Quarter CombinedTaken from final week ending in April, May and June.

200

150

100

50

0 Ray

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or 1

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petit

or 2

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petit

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petit

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petit

or 5

120

100

80

60

40

20

0 Ray

Whi

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petit

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petit

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% Discounting from list price -6.18% % Discounting from list price -5.49% % Discounting from list price -6.02%

Private Treaty Sales Reports

APRIL 2013

No. Properties on Market 215

30 Day Success (%) 8.83%

Total Sold 19

Average Days on Market 46

MAY 2013



Total Sold 22


JUNE 2013



Total Sold 18


Quarter at a Glance

Original List Price to Sold Price (%) -5.88%

QUARTER COMBINED (April – June 2013)

Average No. Properties on Market 254


Total No. Properties Sold 59


Original List Price to Sold Price (%) -8.07%

QUARTER COMBINED (January – March 2013)

Average No. Properties on Market 247


Total No. Properties Sold 69


What the figures show ...

• Average days on market has tightened slightly, into 45 days from 62 previously.

• Substantially more properties were listed in May and June 2013, however this is yet to translate into further sales

• Sellers discounting remained consistent with the previous quarter.

Who is Buying?

April May June

Investors Occupiers

Quarter at a Glance

What the figures show ...

• Investors are continuing to buy more often in 2013. Now making up consistently 1 in every 4 property sales.

• The strong continued period of low vacancy rates and high yields supports investors decision to purchase

• Investors are still cautious in some market segments, particularly properties that come with higher costs.

Quarter

Investors Occupiers

Property Management SnapshotApril Leasing Factor May Leasing Factor June Leasing Factor

68properties leased

86properties leased

78properties leased

18average days

on market

0.99%Vacancy Rate

20average days

on market

0.57%Vacancy Rate

21average days

on market

0.67%Vacancy Rate

Keeping Business Local

This year our group of offices made the conscious decision to adopt a litter of Guide Dog QLD puppies. Guide Dogs QLD work relentlessly in the pursuit of supplying vision impaired individuals with guide dogs to enhance their lifestyles.

This ambition is achieved with less than seven per cent in government funding. Therefore the organisation relies heavily upon the support of the community to continue offering guide dogs, free of charge, to Queenslanders who are blind or vision impaired.

As a result, we decided to donate $2500 for membership into the ‘Harness Club’ and adopted ‘B’ Litter. Since then we have followed the ongoing progress of our litter of four, Bea, Bosley, Bernie and Brock. This includes their initial days of training at the training centre through to their home stays then eventually allocating them to a legally blind recipient.

We are proud to be involved with Guide Dogs QLD and their unwavering commitment to improving the lives of vision impaired locals on the Sunshine Coast, and the wider QLD community.

© 2013

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 Monthly Market Monitor Edition 3 - 2013

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