Market Perspective

February 16 2023

Gold Coast real estate has had a solid start to the year despite a softening of prices, so for those thinking of buying or selling, there is no time like the present.
Market Perspective

Annual housing data for 2022 trickled through in January, allowing us to build a more up-to-date picture of how today’s market is faring for those thinking of selling in the year ahead.

While the 2020-21 Covid market was always going to be a hard act to follow, the media may have you believe that it’s all doom and gloom.

Most of the recent market narrative has focused on the negative impact successive interest rate rises have had on home values nationally.

There is no denying that the market has shifted since Covid, but when considered in the context of house prices having risen exponentially in the 18 months prior to January 2022, the decline appears far less dramatic than what the headlines may have you believe.

Even in the softening market, existing homeowners continue to have plenty of scope to achieve healthy capital growth if selling their home in 2023.

Reported data is also often focused on metropolitan markets, which tends to drive wider property market conversations but, contrary to what may be happening in
Sydney or Melbourne, the Gold Coast has its own story to tell.

125 Commodore Drive, Paradise Waters | Kollosche

According to CoreLogic annual data, house prices on the Gold Coast grew 15.9 per cent last year, with apartments faring even better, up 19.2 per cent. Not a single Gold Coast suburb, bar one, fell into negative growth territory. Meanwhile, the top ten performing suburbs managed to reach growth levels peaking at 53.1 per cent.

It is also worth remembering that within any wider market exist micro markets so while general market data may not appear to be trending in your favour, applying local-level context will often give you a more accurate account of where you sit in the market.

The general rule is that if you own a good quality home in a well-regarded location, you can expect to achieve a premium result relative to the market you are selling in.

There is no doubt that buyer confidence across the Gold Coast market remains robust, evidenced by high numbers of people visiting the area over the new year holiday period and subsequently attending open homes.

We have also achieved some excellent sales results to kick-start the year, managing to write in excess of $50,000,000 in unconditional residential sales in the first
two and half weeks of January, with almost an additional $6,000,000 generated from new project apartment sales.

64 Cabana Boulevard | Kollosche

Auction campaigns also kicked off in earnest in January, with some agents securing Tom Panos, one of Australia’s top real estate identities, to put their properties under the hammer.

Creative and targeted marketing remains a key component of the Kollosche sales process and resulting success, and agents across the company are dedicated to maximising the profile of their clients’ listings to gain premium results.

Commercial Boost

Kollosche Commercial also got off to a flying start at the beginning of the year with a solid pipeline of new listings coming to market, promising choice opportunities for buyers across asset classes.

The surge in new business comes off the back of a stellar year of results for the team whose ranks have been bolstered, with real estate agent Mark Stafford joining the team as a commercial sales consultant.

Mark had a long-standing career in residential real estate, before recently switching to the commercial sector.

He will be a valuable addition to Team Grbcic, made up of sales agents Tony and Adam Grbcic, who will this month bring eight new listings to market, including an extremely rare amalgamated site spanning almost 12,000m2 in the Nerang Commercial District.

While the Gold Coast market across all sectors has softened, it remains in a positive position at the start of 2023. If you are considering selling this year, there is no time like the present.

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