Market Confidence Heralds a Lift in Listings
December 16 2022
A boost in market confidence in the second half of 2022 is delivering an early gift of a rise in property stock heading into Christmas.
The latest data from CoreLogic shows the number of listings across the Gold Coast is higher than at the same time last year, up 8.4 per cent for houses and 6.9 per cent for apartments to the end of November.
The rise shows that sellers are confident of achieving good prices for their properties, with the savviest listing now for January, to tap into the traditional influx of interstate visitors to the region during the holiday period.
The rise in stock levels is also good news for buyers, providing more choice for those actively wanting to acquire a permanent residence or investment opportunity during this time.
Despite the market stabilisation, the tide has not altogether turned from a sellers’ to a buyers’ market, with listed properties continuing to be swiftly acquired.
To date, properties listed throughout 2022 remain on the market for an average of 19 days before being snapped up. This figure is well below that of pre-covid levels where days on market tended to hover between 50 to 60 days.
Fewer days on market are a timely reminder to buyers that, while there may be more stock available, they cannot afford to sit on their hands if they are wanting to purchase under current market conditions.
Marketed by Michael Kollosche alongside associate Jay Helprin, the double-storey waterfront residence on a 925m2 point position offers an exceptional opportunity to create a coastal haven. It goes under the hammer on 13 January at 10am.
On Sunday, 15 January at 10am a picturesque acreage in the hinterland behind Byron Bay will go under the hammer. Marketed by licensed agent Shaun Lowry, the property known as ‘Akubra’ spans 70.4 acres and is brimming with natural beauty and comes with development opportunities.
The sustained confidence in the Gold Coast market in 2022, following its meteoric rise during Covid, is encouraging for the year ahead.
The median house price to the end of November is sitting at $950,000, having climbed 18.8 per cent on the same time last year, according to CoreLogic.
Although not the heady growth highs achieved during the pandemic, it is still robust and far outperforms the pre-Covid market.
If you are thinking of selling in 2023 reach out to one of our agents for expert advice around how best to position your asset in the adjusted market.