With another year behind us and a new one ahead, My Property Preview catches up with real estate agents from across the region to find out their thoughts on how the market fared in their patch for 2018 and how they predict the market will perform
in 2019. Compiled by: Roxanne McCarty-O’Kane.
Jess Luthje – Maleny Realty
The market was steady with consistent sales over all price brackets and well-presented property sold quickly throughout 2018.
The majority of our buyers continue to come from Brisbane. Our days on market remained at an average of 65, however many properties sold within a week and our median house price currently sits at $605,000.
I see continued strong sales activity and limited stock on the market in 2019. There seems to be a real satisfaction with the area and people don’t want to leave in general, so we’re not seeing a lot of property come onto the market. As the Sunshine Coast continues to grow, I believe areas in the hinterland will become more desirable as people seek that peace and quiet while being easy driving distance of all the Coast has to offer.
Advice for buyers: If buyers see a property they like, they should move quickly, the days of thinking about it for a week are over.
Advice for sellers: Present your property well, price it right and start looking for the next one because you won’t be on the market long.
Luke Carter – Harcourts Caloundra
The southern end of the Sunshine Coast performed well during 2018.Although the volume of listings and sales has retracted to their lowest levels since 2008, prices have been solid. Pelican Waters, Moffat Beach, Wurtulla, Dicky Beach and Golden Beach had a flying start to the year, with new benchmarks in prices being set in these areas and a number of record prices being achieved.
Days on market over 2018 definitely retracted and I feel this will continue through 2019. I feel the volume of stock and sales will definitely increase through 2019, as many property owners take advantage of growth and look to cash in.
I feel 2019 will see a resurgence of southern buyers looking to invest and retire here and this will put pressure on stock, as many of these buyers have significant funds.
Advice for buyers: Have confidence and move fast when you see a property that suits your needs. In 10 years we will look back and say, I wish I bought then.
Advice for sellers: There has never been a more important time to ensure you are selecting an agent that has strong knowledge of the market.
Paul Angell – First National
Although buyer interest levels softened over the last quarter, overall we found the 2018 market to be a fairly positive one.
We noticed a slowdown in investor enquiry, possible due to the increase in foreign buyer stamp duty, restriction in lending and caution in relation to negative gearing policy in 2019. Owner-occupier transactions continued to dominate the residential sales in our market.
I believe the Sunshine Coast will continue to defy the southern capital trends in 2019, however I expect only a slight increase in prices in the residential sector.
Advice for buyers: Regardless of the type of market, buyers should always do their research and ask the agent for historical data about a building or suburb you are interested in.
Advice for sellers: If you are exiting the local market or downsizing, now is a great time to sell. If you are selling and buying back into the same market, then it probably doesn’t make much difference – pick a time that suits your current circumstances or position.
Loren Wimhurst – Next Property Group
The year was really strong all in all, with rises in some of the areas and despite some slowing in the last month, we have seen consistent sales. We have seen across the board rises in the prices for waterfront, beachfronts, beachside and we have seen some good results on prestige acreages.
We have noticed the range between $1 million and $1.5 million has been popular. What we’re finding is that we are seeing more local buyers appreciating the value of property prices in the region and they are the ones prepared to pay true market value.
I feel that this momentum will continue into 2019, although I don’t feel we’ll have the price increase we’ve had for last year to 18 months. I predict we will see more properties coming onto the market.
Advice for buyers: If you are looking at holding it for the long term, property will always look after you.
Advice for sellers: You have one chance to make an impression when selling your property. Do it the best way you possibly can and you will get the right result.
Jason Stock – RE/MAX
Last year saw some immense buyer frustration, with demand outweighing supply. New record prices were achieved, numerous properties selling above list price, with multiple offers and short days on market.
The Banking Royal Commission brought about some market disruption through the middle part of 2018 for the first-home buyers, but overall the market remained strong.
This year looks set to offer an increase in stock and balanced demand from buyers will mean in order to get sold, sellers’ expectations will need to pull back into alignment with the ideas of buyers.
A number of new land estates means current owners upgrading and also more opportunities for first-home buyers.
Advice for buyers: Be ready with finance approvals, be educated on local market pricing and still be willing to act fast – as the good properties will still be selling inside the first few days on the market.
Advice for sellers: Be smart. Choose an agent that understands marketing and with a proven track record in your area. Remember it is the process rather than the promise of a price that is the key to success.
Bevan Horsnell – Prime Property
The property market in general across Buderim and the central Sunshine Coast has performed well on the back of tighter stock levels and high buyer numbers through 2018. These stats confirmed sellers were in the box seat when it came to negotiation, as buyer competition was high and available properties low.
The year started well with average days on market being about half normal trend and the five-year median price index sitting around the 35 per cent growth mark.
Advice for buyers: Buyers will start to see a gradual loosening of the market, with more properties becoming available in the traditional summer selling season. Be well advised as to your buying capacity, and if possible, arrange pre-approval as soon as you start looking for a home. The financial institutions have tightened their lending criteria as a result of the Banking Royal Commission and this is providing headaches throughout the transaction for many buyers.
Advice for sellers: Sellers remain in a great position with prices remaining high across the Coast, but they must not overestimate their property value.
John Stamp – Belle Property
Buyers are becoming price sensitive. They are discerning and have a wealth of information at their fingertips. A tightening of the lending criteria and very clear focus of funders towards principal places of residence purchases has created, to some extent, a two-speed market.
Properties which are deemed to not represent good value are lingering for long periods of time as the market is no longer accelerating to meet the higher expectations, and well-priced properties are seeing huge competition.
Advice to buyers: Educate yourself. Do not rely on second-hand, curated information. Always understand actual sale prices, don’t be led down the garden path by anyone quoting a list price as a sale result – always find out the price comparative properties actually sold and settled for by sourcing your own information online.
Advice to sellers: Be open to feedback. Be clear with your messages, i.e. pricing, reason for selling, features of the home. Be careful of lengthy clauses and settlement periods in a changing market. Cash is king.