Buyer demand continues to outstrip supply on the southern Gold Coast, fuelling impressive sales results over the month of May.
Battle weary house hunters will no doubt be pleased to read some general commentary suggesting that the buying frenzy witnessed in recent months is beginning to ease.
While low interest rates remain an incentive for buyers, a recent drop in search activity Australia-wide suggests the bulk of buyers have purchased while others may be put off by hefty price hikes.
Despite rising prices and some steam coming out of the market, buyer activity remains strong on the Gold Coast due to the fast absorption of active stock and a lack of new stock.
The latest REA Insights Listings Report reveals that regional market active listings are now at the lowest recorded levels since 2016.
Across regional Queensland new listings dropped by 14.8% in April compared to March while active listings in regional Queensland reduced by 5.1%.
Premium listings on our books are being snapped up prior to auction and in off-market deals, while those that do make it to market are enjoying high levels of enquiry and multiple offers.
Sales by Team Dowker in May total $18,367,500 and our auction clearance rate is 100%. We secured premium prices on the following properties in May:
- 4 Lang Street, Bilinga sold prior to auction for $3,500,000
- 64 Woodgee Street, Currumbin sold at auction for $2,980,000
- 1/794 Pacific Parade, Currumbin sold off market for $1,630,000
- 19 Woodgee Street, Currumbin sold off market for $3,357,500
- 301/1331 Gold Coast Highway, Palm Beach sold prior to auction for $2,400,000
- 9/7-11 Rutledge Street, Coolangatta sold for $1,875,000
- 1/100 Hedges Avenue, Mermaid Beach sold prior to auction for $2,625,000
To discuss your real estate goals and how to best benefit from the strength of the current market, Team Dowker would love to hear from you.