The Year in Review
December 15 2022
When 2022 kicked off, there was much speculation around how the year in real estate would play out following the fastest rate of house price growth the nation had seen in 140 years.
The flow-on effects of interstate migration and the ongoing demand for Gold Coast lifestyle properties during Covid were felt into early this year.
Monthly interest rate hikes began in May which contributed to a shift in market sentiment that took some of the heat out of the market as we moved into a new property cycle.
“The 2022 residential property market has been an interesting and transitional one where we’ve moved from an abnormal market to a normal one,”
While Gold Coast house values surged by 36.3 per cent – the second highest regional rate of growth in Australia in 2021 – values levelled around 3 per cent throughout 2022, according to CoreLogic data.
“High-quality products in prime locations have been the flavour of the year,” says Troy.
Luxury turn-key properties requiring minimal work and improvements proved popular with lifestyle buyers amid cost and supply issues affecting the building industry.
Mindset and Productivity
“In order to thrive in this industry for optimal performance, it’s important for all our team members to have a strong and healthy mindset,” says Troy.
Team Dowker’s success in 2022 can in part be attributed to each team member’s commitment to their own health and well-being.
“Prioritising your health and well-being translates into a positive and effective work environment with individuals that are productive, laser-focused and goal-oriented, and who provide excellent customer service.”
Team members focus on eating well, sleeping and exercising in order to perform at their best.
“By prioritising these aspects, we are centred, operate from a clear state of mind and with positive energy, something that our clients can certainly feel and experience,” says Troy.
This past year, Troy and his team have also focused on refining their roles and responsibilities to improve productivity and optimise the customer journey.
“We continuously ask ourselves how we can make micro improvements within our business to better service our clients and achieve the best possible results,” says Troy.
“We realised that time is anyone’s most valuable asset and we looked at ways to become even more efficient and effective.”
Standout 2022 Sales
A depth of experience and refined marketing strategies have seen Troy and his team achieve a string of benchmark sales results this year.
An architect-designed home on a double waterfront block at 10-12 Elanora Drive, Burleigh Heads sold under the hammer in September for $9,700,000. The result set a record for the suburb and the southern Gold Coast for a non-beachfront property.
The $13,510,000 sale of a development site at 215-217 Jefferson Lane, Palm Beach in March set a new price benchmark for beachfront land in Palm Beach. The double block with direct beach access on 817m2 included development approval for eight apartments in a nine-level building.
In January, an eager buyer swooped the keys to 181 Jefferson Lane, Palm Beach 11 days prior to the auction for $8,275,000. The iconic modern coastal home built to the highest of standards and with direct beach access set a new price benchmark for this prestigious beachfront strip.
What to Expect in 2023
As we move towards 2023, Troy expects the Gold Coast real estate market to remain healthy and stable with strong demand and limited supply for premium lifestyle homes.
With further rate rises touted for 2023, a softening in the lower price sector of the market is likely, while buyers at the top end of the market will remain active.
Prices for luxury seaside, beachfront and waterfront homes are expected to remain resilient as stock levels for high-quality residential homes in prime locations remain lean.
When buying a property, a long-term view needs to be taken. A market ebbs and flows and the Gold Coast will always be a desirable lifestyle location,” says Troy.
“The Gold Coast is a completely different city to what it was 10-20 years ago. There has been a lot of interstate capital investment in the last few years and the city has matured as a result.
“We are of the view the city will continue to develop in a positive light with the 2032 Olympics, expanding infrastructure and growing population.”
If you want to capitalise on the summer selling season as we move into 2023, reach out to Troy for a conversation on how to best present and position your asset for a premium result.
Reach Out to Team Dowker Today to Realise Your Property Goals
Troy Dowker Licensed Real Estate Agent 0409 057 087 firstname.lastname@example.org.