ray white - market monitor || oct - dec 2015
DESCRIPTION
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.TRANSCRIPT
Market MonitorOctober - December 2015
VOICE OF PROPERTY ON THE SUNSHINE COAST
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
1-3/13 Brisbane Road
Mooloolaba
07 5444 3455
raywhitemooloolaba.com.au
Ray White Sippy Downs
Shop 15 Chancellor Park Marketplace
Sippy Downs
07 5354 6002
raywhitesippydowns.com.au
Ray White Noosa
1/37 Hastings Street
Noosa Heads
07 5447 2021
raywhitenoosa.com.au
Unparalleled in our local market place
Welcome to the ninth edition of the Ray White Market Monitor, reporting on the October to December quarter of 2015.
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.
Auction Report
Auctions 27
Sold 20
Withdrawn 1
Success (%) 77%
Clearance 37%
Days on Market 51
Registered Bidders 77
Pre Auction Offers 15
% Discounting on Reserve -0.83%
% Lift from Highest Pre Auction 8.75% Offer to Sale
Auctions 23
Sold 17
Withdrawn 1
Success (%) 77%
Clearance 35%
Days on Market 31
Registered Bidders 42
Pre Auction Offers 13
% Discounting on Reserve -1.49%
% Lift from Highest Pre Auction 4.38% Offer to Sale
Auctions 24
Sold 12
Withdrawn 1
Success (%) 52%
Clearance 29%
Days on Market 36
Registered Bidders 59
Pre Auction Offers 13
% Discounting on Reserve -1.38%
% Lift from Highest Pre Auction 4.99% Offer to Sale
77%S U C C E S S
O C T O B E R
77%S U C C E S S
N O V E M B E R
52%S U C C E S S
D E C E M B E R
S U C C E S S
75%
Auction Report
Auctions 74
Sold 49
Withdrawn 3
Success (%) 69%
Clearance 33.7%
Days on Market 39
Registered Bidders 178
Pre Auction Offers 41
% Discounting on Reserve -1.23%
% Lift from Highest Pre Auction 6.04% Offer to Sale
QUARTER COMBINED | OCT - DEC 2015 QUARTER COMBINED | PREVIOUS QUARTER
Auctions 116
Sold 80
Withdrawn 10
Success (%) 75%
Clearance 27.3%
Days on Market 33
Registered Bidders 254
Pre Auction Offers 69
% Discounting on Reserve -1.94%
% Lift from Highest Pre Auction 6.16% Offer to Sale
• We continue to see buyers paying 6% more on auction day than prior to. This has been consistent through much of 2015, a sign of a seller’s market.
• There were 42 less auctions held than in the previous quarter, our view is that there is collectively 22% less stock in the market and the Christmas period allowed for only two weekends of auctions in December.
• Similar to buyers paying more on auction day, the overall auction success % remains high. We expect post auction sales to occur from December, lifting the overall success well over 70%.
WHAT THESE FIGURES SHOW
69%S U C C E S S
It is a seller’s market, with between two to three bidders attending each auction, there is strong buyer competition, buyers paying more on auction day and sellers are less likely to discount from their reserve to meet the market.
Auction Success Stories
This was the first time this beach house had been offered for sale in 24 years. It was only ever used by the owners as a holiday home for family and friends; and although it was never lived in full time, it was still a big decision for the owner to sell.
Auction day itself was full of emotion for the owner. Having lost her husband
earlier in the year, this property had been a massive part of their lives together, including spending every Christmas at the property with their family.
With four registered bidders on the day it come down to $1000 bids then to $500 bids. The outcome of $500,000 was a fantastic result, exceeding the reserve price by $35,000.
Local to the Sunshine Coast, the buyers could see the opportunity this block offers for a duplex site in the future.
Sale Price $500,000
Inspections 45
Prior Offers 2
31 Marjorie Street, Mooloolaba
This stylish contemporary residence perfectly embraced its idyllic location, enhanced by glorious views across the hinterland. The acreage home in Mons was set on over 1200 square meters and offered the potential buyer a spacious 4 bedroom, 2 bathroom, 2 car home with a pool and media room.
The family selling had called 14 St Anton home for the past 13 years, creating a lifetime of memories. With the family spending the majority of their spare time at the beach, the time had come to make the coastal change. The lucky buyers on auction day had fallen in love with the property as soon as they walked through the door during the campaign.
With their work requiring a commute to Brisbane and the kids starting school at Sunshine Coast Grammar, 14 St Anton Drive was the perfect fit. They got to work with their bank on getting a finance pre approval in place.
The auction commenced with an opening buyers bid of $600,000 followed by competitive bidding between buyers until the action was paused at $660,000. With the agent continuing negotiations with the buyers, the highest bid was increased on the floor to $700,000. However the other interested party; who had keenly observed the property throughout the whole campaign; called the agents and auctioneer over to let them know that they were prepared to offer $715,000 subject to a 5 day finance clause. With a hard decision to make, the owners decided the extra $15,000 was worth the risk, so the Auctioneer Dan Sowden called the bid at $715,000 on the floor. With no other bidders willing to increase and after 45 mins of negotiations the property was sold under the hammer for $715,000. The owner’s decision paid off with the finance clause being satisfied on the following Friday, and the property officially sold.
Sale Price $715,000
Inspections 37
Prior Offers 0
This totally renovated 4 bedroom, 2 bathroom, 3 car property on a 612m2 block with flowing floor plan and great entertaining area is admired by many who pass it.
The Sellers, a local couple with two young boys who have lived in the
area for some time, renovated the property to make it a dream home.
The marketing campaign was well executed leading to a massive
auction day with approximately 40 people in attendance. The
auction was held in the backyard with five bidders, all eager
to win the property. The bidding stopped at $740,000 and
after discussions between the Seller and the lead bidder, the
property was put back on the market at $795,000 where it
was then sold under the hammer to a local business owner.
Sale Price $795,000
Inspections 47
Prior Offers 1
14 St Anton Drive, Mons
112 Wrigley Street, Maroochydore
Buyer Inspections
OCTOBER NOVEMBER DECEMBER
1,793 total inspections
1,773 total inspections
1,011 total inspections
456 number of
open homes
591 number of
open homes
287 number of
open homes
401 private
inspections
457 private
inspections
221 private
inspections
With 295 properties on the market and 74 auctions (20% of total listings) during the quarter, it’s interesting that auctions attracted 41% of ALL buyer enquiry.
More Auctions. More Advertisements.
‘Ray White are the undisputed market leaders on the Sunshine Coast for both property advertising and auctions’
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14 14 139
PICTORIAL ADVERTISING QUARTER COMBINED
AUCTIONS ADVERTISED QUARTER COMBINED
Taken from final week ending in Oct, Nov and Dec 2015 Taken from final week ending in Oct, Nov and Dec 2015
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Private Treaty Sales Report
Number on Market 362
Total Sold 35
30 Day Success (%) 10%
Average Days on Market 57
Number on Market 319
Total Sold 32
30 Day Success (%) 10%
Average Days on Market 66
Number on Market 295
Total Sold 32
30 Day Success (%) 11%
Average Days on Market 55
S U C C E S S
N O V E M B E R
10%S U C C E S S
D E C E M B E R
11%S U C C E S S
O C T O B E R
10%
Number on Market 325
Total Sold 99
30 Day Success (%) 30%
Average Days on Market 59
Number on Market 337
Total Sold 127
30 Day Success (%) 38%
Average Days on Market 54
• Between October and December, there has been a 22.7% reduction in available stock.
• The average time to sell a property continues to remain very low at under two months.
S U C C E S S
38%S U C C E S S
30%
When considering a sale strategy, our research shows that auction properties have more than double the success rate (69%) to that of a private treaty (30%) of selling within 90 days.
QUARTER COMBINED | OCT - DEC 2015 QUARTER COMBINED | PREVIOUS QUARTER WHAT THESE FIGURES SHOW
Who is Buying?
Owner Occupiers Investors
30% 27%
70% 73%
30%
70%
OCTOBER NOVEMBER DECEMBER
• Owner Occupiers continue to dominate the Sunshine Coast market, representing almost 3 out of 4 of all property transactions.
• Interstate buyers are one of the larger movers into our market, with the southern markets overheating, South East QLD is considered excellent buying.29%
71%
QUARTER COMBINED | OCT - DEC 2015 WHAT THESE FIGURES SHOW
71 properties leased
46 properties leased
63 properties leased
14 average days
on market
14 average days
on market
14 average days
on market
99% occupancy rate
99% occupancy rate
99% occupancy rate
Property Management
OCTOBER NOVEMBER DECEMBER
RACQ CareFlight Ball
THE colour and excitement of the Moulin Rouge set the theme for the RACQ CareFlight 2015 Gala Ball. Touted as the Sunshine Coast’s most glamorous black tie gala ball, this wonderful event returned on Friday 30 October 2015.
When entering the Wandiny Room at Novotel Twin Waters Resort, guests were transported to a replica of a Paris nightclub for the event, which has become one of the Sunshine Coast’s most anticipated functions.
CareFlight North Coast Regional Manager Angela Miles said “We are pulling out all the stops to recreate the liveliness, the theatre and the music from one of the most artistic periods in history - one incredible celebration!”
And while the event may be a highlight of the Sunshine Coast social calendar, it also serves a vital purpose by securing the funds necessary to keep CareFlight’s Sunshine Coast-based helicopters flying. Our group of offices had many staff attending and supporting the event, along with Ray White Maroochydore Principal, Dan Sowden, as the charity Auctioneer for the evening.
Buderim 9
Ray White Buderim were proud sponsors of the Buderim 9 event on 20 December 2015. The challenge is an exciting annual 75km community cycling event, covering nine hills around Buderim. The ride lasts for three hours and is held on the last Sunday before Christmas every year.
More than 230 riders took the challenge, approximately 60% of participants completed the nine hill course, with the event raising more than $16,000 in funds to support local children and their families living with cerebral palsy.
For the first time in the four year history of the event, six children and their families living with cerebral palsy took part in the new category, the 100m dash.
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