Market Insights

Confident Lead-in to Christmas

November 17 2022

Active buyers continue to have a healthy appetite for Gold Coast property, with low levels of stock keeping prices buoyant — a gift for vendors heading into the festive season.
Confident Lead-in to Christmas

The appearance of Christmas decorations in retail outlets always serves as a timely reminder that the sprint towards the end of the year – traditionally our busiest – has begun.

Given the resilience of the Gold Coast market, and contrary to early 2022 predictions of doom and gloom, we head into the holiday period with a relatively high level of confidence.

A Reserve Bank rate rise at the start of October has done little to deter prestige property buyers, who remain active in the market, although they are more discerning than they were 12 months ago.

Overall stock volumes are up, rising 8.7 per cent over the 12 months to September, according to CoreLogic data. Although new listings for houses are lagging marginally, down 0.3 per cent over the same time period.

This coupled with the continued shortage of materials and trades in the building industry is working to hold up the price of established homes, with demand continuing to outstrip supply.

While this is welcome news for vendors, the market has shifted, with buyers firmly in the driver’s seat. The sellers achieving the best results from the more discerning buyer base are those championing strategic and targeted marketing campaigns.

In the current conditions, the skill to deliver a considered and targeted campaign has become vital in not just attracting buyers to a property, but attracting the right type of buyers.

Understanding demographics is a key component of Kollosche agent strategies, and they have managed to match assets directly to active buyers over the past month to achieve some impressive results.

Among them was the sale of 16 Alaska Avenue in Broadbeach Waters for $2,505,000. The sale price far exceeded vendor expectations and was well above the median house price for Broadbeach Waters.

16 Alaska Avenue | Kollosche

At a time when the majority of buyers are leaning towards high-end, new-build properties, this sale through agents Corey Bedford and Jamie Harrison highlights what the right marketing campaign can achieve for any property

107 EDINBURGH ROAD | Kollosche

Jamie along with sales associate Zac Palmer also sold 107 Edinburgh Road in Benowa Waters at auction for $2,460,000. Despite wet and rainy conditions, competition fort he family home was fierce on the day, with six registered buyers placing more than 24 individual bids. It went to a local buyer.

52 THE PROMENADE | Kollosche

A waterfront house at 52 The Promenade on the Isle of Capri sold for $4,600,000 days after its auction through Kollosche sales agents Sam Guo and Julia Kuo. Designed by Bayden Goddard, the property went to an Adelaide buyer who plans to relocate to the Gold Coast.

Finding a buyer ahead of auction was the grand family home at 2334 Cressbrook Drive, Hope Island. Kollosche lead agent William Sarti, in conjunction with Sam and Julia, inked a deal for $6,350,000. There were 27 enquiries with the winning offer coming out of Canberra.

Commercial Sales Roll In

It has been another successful month for Kollosche’s commercial sales team with agents Adam Grbcic and Tony Grbcic closing a deal on the Marina Concourse Retail Village for $16,780,000.

One of the last assets to be released by prominent Gold Coast developer Sunland, an extensive marketing campaign by Team Grbcic for the Benowa lifestyle and commercial centre attracted 168 enquiries from interstate and local investors, who understood the value of the asset and its location.

The deal wraps up a mega few months for the commercial team who penned $115,895,702across 12 sales between June and September, with the top sale being for the The Voyager Resort in Broadbeach at $45,001,680.

Welcome to New Agents

Kollosche continues to build its presence in the Gold Coast market and in October we welcomed three new sales agents to the business, with another making a return.

New to the Kollosche brand but not to the local real estate market are husband and wife team of Nicky and Jason Cunningham, who are focused on, but not restricted to, the Mermaid Beach and Broadbeach Waters markets.

1011/1-17 LENNIE AVENUE | Kollosche

The couple are already making an impact, notching up their first sale for Kollosche after a month in the business. The pair sold a two-bedroom apartment at 1011/1-17 Lennie Avenue in Main Beach for $1,600,000 under auction conditions.

Covering the northern Gold Coast is lead agent Stuart Rooke, who joins the fold with more than $500 million in sales under his belt, a roll-call of high-net-worth interstate contacts, and an auctioneer’s license.

He is currently listing one of the most prestigious properties on the market at 18 Knightsbridge Parade, Sovereign Islands, which is our cover feature this edition.

Former professional soccer player and foundation member of Kollosche, Josh Longhitano has returned to the business and will focus predominantly on the Burleigh market.

Josh’s level of determination and passion for property, and love of the beachside, will serve him well in the coastal market.

You can read more about our newest recruits in this edition of the magazine or on our website.

If you are thinking of selling this summer season, reach out to our trusted agents for an informed discussion around how we can help you to achieve your property goals.

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