Sellers Poised to Succeed This Spring
September 8 2023
Spring selling season has begun with stock levels at a record low, healthy buyer demand and increasing prices making it an opportune time for sellers to enter the market.
Market activity traditionally picks up in line with the warmer months but stock levels this spring are sitting at record lows, according to CoreLogic, with stock across the Gold Coast 21.2 per cent lower than at the same time last year and 38.1 per cent below the five-year average.
This is, however, having a positive effect on home values making it a favourable time for sellers. In August, regional house prices rose 0.8 per cent, with CoreLogic revealing the Gold Coast to be one of the strongest areas for capital gains over the past quarter.
The CoreLogic Hedonic Home Value Index showed prices in the SA3 geographical area of Coolangatta, which takes in suburbs from Palm Beach to Coolangatta and inland to Elanora, rose 6.2 per cent in the three months to September. Gold Coast – North, comprising suburbs from Labrador to Paradise Point and inland to Arundel, reached 5.6 per cent growth.
Further rises are expected over the coming months, buoyed by internal migration and a stabilising economy. The cash rate remaining on hold at 4.1 per cent for the third consecutive month, leading analysts to predict the hikes have peaked, should also boost market confidence.
Data shows that agent pre-listing activity has ramped up in the lead-in to spring, indicating the market is about to gain traction with quality properties listed at a competitive price being snapped up quickly.
Kollosche is driving the market momentum with agents bringing a number of premium listings to the market in the past week.
Sales agent Eoghan Murphy listed a four-bedroom family home at 20 William Street in Mermaid Beach. The property, off salubrious Hedges Avenue and a stroll from sand and surf, will go to auction on 5 October.
In neighbouring Mermaid Waters, sales agents Darryl Bright and Ryan Ward are marketing a four-storey newly built residence on the waterfront for $4,845,000.
A luxury three-bedroom apartment in the ‘Opus’ building, 200 metres from the beach at 106/18 Chelsea Avenue in Broadbeach, is being marketed by sales agent Rob Lamb and is available through private treaty.
If you are considering selling, reach out to an experienced Kollosche agent who can advise you on how best to position your asset this spring selling season.