First week of the school holidays and Sunshine Coast residents would have noticed an increase in people out and about…good to see! After a very warm weekend we finally got a touch of autumn, reminding us winter is on its way.
The market remains healthy and active which is encouraging and positive for sellers; however, it’s easy to get carried away with media reports about the property outlook and some of them can be conflicting…so what’s really happening?
The reality is that well priced property, especially those combined with a strategic marketing campaign are selling quickly, often attracting buyer competition which puts upward pressure on price and can result in securing a price above seller’s expectation. However, it is important to remember that although market is in recovery mode, we are not in ‘boom’ times yet and buyers are still very well educated when it comes to fair, competitive prices and although stock is generally tighter than it has been, the market is still quite price driven.
Jason Andrew of Jason Andrew Auctioneers says:
“All of these factors point to the importance for sellers to form a realistic view on current market value and not become fixed on achieving any premium over and above. The properties that are currently achieving good sales outcomes are those where the reserve is reasonable and at a level where buyers see value and are prepared to compete. Paying close attention to buyer feedback and comparable results over recent weeks is critical for effective price evaluation.”
We are fortunate on the Sunshine Coast that we have been recording above state average employment growth and we have several huge infrastructure programs underway which will generate jobs, the most prominent being the multi-billion dollar health precinct at Birtinya. So, the outlook here I believe is very rosy indeed!