Newsletter Volume 43
Property Prices- Where to Now?
Should I go to Market Now?
What can I Purchase now?
Are you a Residential Buyer,
Coming from another area?
I quote from our previous Newsletter 42, November 2020, “Unprecedented Prices” are being attained in all suburbs, but we must still follow the old rules: PRICE * PRESENTATION.
The difference being today the prices are increasing and the market is rising.
WHEN WILL IT ABSOLUTELY PEAK? NO ONE KNOWS.
Our company has been in the Coastal Market for decades and it is our belief that this market will hold and we have reached a fresh level of settled Contract prices. Unlike a great number of competitors, we are quite positive but not telling buyers “be quick, you will miss out” as prices have only begun to increase.
We believe that stock will increase and trading will return to a degree of normality – why? – because this gives sellers, buyers & agents a degree of certainty.
A very positive factor is that our market has not been as greatly influenced by Southern purchasers to the degree the papers are telling us. It is our belief (possibly with the exception of Noosa) that Coastal sales are at least 90% local, Brisbane and Darling Downs buyers. This is a very positive fact.
Those of us familiar with property, a search of Corelogic for sales history of properties note occasionally that a particular property sold 6,7,8 years ago for a high figure above the market – has caught up several years later. Certainly, the last few months have produced this phenomenon, with older homes in Currimundi and Bokarina areas attaining multi millions, we obviously cannot be specific, but older homes ready for knock down at these prices may be market spikes and even on this market, exceptional prices, great luck for the Sellers.
Developments such as Aura and out to the new suburb of Nirimba are witnessing exceptional sales, mostly from the Mid $400 to $500k range. In fact, in many cases, it is more affordable to purchase in Nirimba than to pay rent in the current market.
For the local Caloundra residents reading this newsletter, there is no mystery as to why our traffic system is becoming more congested. Just look at the development at Aura plus the numbers of town houses and multi-living accommodation projects at Pelican Waters and Birtinya alone.
Another factor that boosts our market is the extremely low number of available rental properties. The job of an Agent is becoming more complex and stressful as we are in the position of having to notify many applicants that they have been unsuccessful in attaining a lease. Many of these applicants are excellent tenants with a great rental history. There is simply not the number of available properties.
The Auction system, which in many cases does not meet the expectations as predicted by agents to sellers – is working quite well in the market. Simply, undersupply is driving the higher prices.
Listings and turnaround of property are the lifeblood of a real estate business. Should you wish to sell, David Millar Real Estate will give you a comprehensive appraisal. This will not be based on a computer-generated analysis of the suburb average sales. Competent appraisals take into consideration:
Size * Location * Condition * Presentation * Age * Potential *Special features
David Millar Real Estate offer the seller minimal marketing costs paid on sale and very competitive selling fees. During the tough and the good times, we sell property. Remember, anyone can sell property, yes anyone – but are you (the Seller) attaining the maximum price?
Get the right advice.
Telephone (07) 5491 3344
8 Second Avenue, Caloundra QLD 4551 | firstname.lastname@example.org
davidmillarrealestate.com.au | David Millar 0439 714 509
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