Quarterly Newsletter Volume 35
Welcome! You are reading our current newsletter and market update from our Principal, David Millar.
Volume 35, July 2018
The Complex Real Estate Market!!
Where is it going?
I am sure we are a stage the Gold Coast was some 30 years ago. I remember the talk and gossip ‘it won’t last’, ‘it will crash’ – how wrong they were then and certainly now, in relation to our Market.
Currently those of us who are home owners or investors in the property sector have a mass of conflicting information. Firstly there is Sydney and Melbourne – and the rest of Australia, seemingly two different worlds.
In late June (2018), CoreLogic Senior Research Analyist, Cameron Kusher, made a statement that I believe to be quite accurate.
“There are many factors at work in the Property Markets…In every case it is infrastructure investment that regional areas will outpace capital cities.. Geelong, Bendigo, Ballarat and the Sunshine Coast as the ones to watch”.
As a long standing Sunshine Coast agent, I seize this statement, however, I must add, as an active participant working from the coal face so to speak, a few key points that I believe are really significant
- Stock Levels are low (compared to previous years)
- Proximity to our capital city
- Climate and lifestyle
- High Enquiry rates
- Consider the population growth and current coastal expansion.
Sales for the Quarter
As I have stated earlier, Sydney and Melbourne are far removed from the rest of Australia in regards to sales. Caloundra West (Aura) and Meridian Plains have a similar position in Caloundra regarding sales. In addition, there is also the new 4800 lot subdivision of “Harmony”, on the eastern side of the highway directly opposite the pub at “Aussie World”.
The following statistics have been drawn from realestate.com.au figures to demonstrate the huge effect these new estates have on our overall property market.
Sales and Availability by Suburb
|SUBURB||SALES APRIL, MAY, JUNE||AVAILABLE STOCK|
|Caloundra West (Aura)||1435||167|
|Wurtulla (not Oceanside)||14||19|
|TOTAL SUBURBS 9||SALES 108||AVAILABLE 194|
Engaging your Agent
Some things to consider when selling
I still have lists of unsuccessful Purchasers – this is a very good omen. If you are considering selling, you may want to consider if your Agent fulfills these points.
- Can they converse and talk easily with you?
- Provides Advice on Price – Presentation – Strategy – Activities
- Explains the whole process
Property Owners must, when selling, have set criteria or procols in place when setting a price and selling property.
Be content with a fair and reasonable price
Properties that languish on the market in these times are generally overpriced or for some reason, possibly presentation or structural issues do not sell. The Property Owner must,
Know your sales area
Prudent Sellers know their area sales and have a general indication of price. Obviously, what the property owes you depends on when you purchased.
We all want COSTS + STAMP DUTY + SELLING COSTS + PROFIT!
Purchasing, selling and relocation
You are buying and selling on the same market, but be aware of the prices in the area that you are locating to repurchase.
Choose on experience
Select an experienced agent – not just the cheapest agent and not always the highest priced appraisal.
Seek Price Proof
Seek written proof of equivalent sales, not just a ‘skite’ list. When pricing, be astute and compare apples with apples so to speak.
Engaging the services
If your Agent is pro-active they must have in place:
- Top Internet Exposure
- Perform weekly “Open for Inspections”
- Responds to enquirer and inspections on the day (not ‘come next Saturday when I open the house’)
- Price Specifics – some agents use Price Ranges. ‘Price Rangers’ can be a tool to solicit enquiry – often tens of thousands under your expectations. This is disastrous for both buyer and sellers.
- Promotions – part of your property promotion, in conjunction with internet and general marketing, should include a brochure drop to 150 adjoining properties. This may sound old fashioned in the technical age, but is still a tried and true activity.
- Profile – Your agent should have an area and profile general to your sale area. An organised and cohesive office offers buys choice. Buyers may not like a particular property – and appreciate choice. It may be yours. Selling today is about profile and numbers.
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