Market Insights

Record November Results

December 9 2022

An uptick in market activity was registered across the business last month, delivering some significant results and promising a strong transition into 2023.
Record November Results

Market activity has picked up heading into the final throes of the year as buyers prioritise a desire to be settled into a new home before Christmas.

Kollosche statistics show the month of November to be one of the most successful this year with new listings and sales up across the business.

A total 61 new residential listings, valued at more than $263,000,000, and an average value of $4,325,000 are reported across the month.

Stock type varied from coastal apartments offering a beachside lifestyle to hinterland acreages providing a tree-change opportunity.

A total of 44 properties sold in November – an uptick on the 41 sold in November 2021 despite there being less stock on the market – with Kollosche agents achieving more than $130,000,000 in unconditional sales for their vendors.

143-145 Hedges Avenue | Kollosche

The most notable November sale was 143-145 Hedges Avenue in Mermaid Beach, which at $19,200,000 was one of the largest deals done on the Gold Coast in 2022.

Kollosche principal and selling agent Michael Kollosche, alongside agent Harry Kakavas, offloaded the rare 810m2 beachfront block which has 20m of direct beach frontage, allowing someone to build a statement home on the well-heeled street.

28 WOODGEE STREET | Kollosche

Also in November, Troy Dowker sold a beautiful old Queenslander with history dating from 1876.

The 963m2 parcel is among the largest on the tightly-held Woodgee Street in Currumbin and was snapped up after only 14 days (and ahead of auction) for $2,057,500.

Troy also sold the iconic Bilinga property ‘Cypress House’, recognised for its distinctive cylindrical facade covered in cypress pine timber slats. He found a buyer for the property in only six weeks, achieving a price of $3,190,000.

3901/272 HEDGES AVENUE | Kollosche

A sub-penthouse apartment at 3901/272 Hedges Avenue in Mermaid Beach, was sold by sales agent Eddie Wardale for $5,500,00, achieving the highest price per square metre in the newly built ‘272 Hedges Avenue’ building.

Auctions remain a popular method of sale in a shifting market, with Kollosche clearance rates in November reaching 64.29 per cent, significantly higher than the 50 per cent achieved at the same time last year.

Record Month for Executive Leasing

Kollosche’s leasing department also experienced a busy November, successfully leasing 12 properties averaging a premium rental price of $1723.75 a week.

The team has simultaneously listed 19 new properties, averaging a weekly rental price of $1,889, setting up a bumper number of leases moving into December and January.

For example, a stunning waterfront family house located in a prime position at 136 Sir Bruce Small Boulevard, Benowa Waters, is available to lease from January 3 at $2,500 a week.

In the sought-after beachside suburb Mermaid Beach, a four-bedroom villa at 1/8 Albatross Avenue is available now for $2,350 a week. Perfectly positioned directly across from Nobby’s Beach, it’s an easy stroll from local cafes, shops and restaurants.

According to Head of Property Management Melissa Baker the holiday months are pivotal for the rental market, especially for families and those migrating from interstate.

“This is the time when families are looking to secure accommodation in key school catchment areas ahead of the start of the new term,” Melissa says.

“The Kollosche leasing department will be on hand throughout the Christmas and New Year holiday period to assist those who are either looking for or moving into properties, helping them to make a smooth transition in what can be a stressful period.”

We invite you to reach out to Kollosche’s trusted sales or leasing agents to assist with your property needs across residential, commercial and new projects.

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