Elysium Market Report September—December 2016
The last three months of 2015 saw an interesting dynamic develop between buyers and sellers in the wake of some excellent results in the estate, which has seen a slowdown in the number of properties selling in the area. There is no denying that confidence in the estate is established and it is generally accepted in the local area that Elysium is a great community and a great place to live. A solid price point has been established and buyers are seeing good value in the new homes when comparing to older areas of Noosa.
The REIQ recently published its most recent “Buyers and Sellers Behaviour Report”, which investigates property buyers and seller’s perceptions, attitudes and behaviours in SEQ. Commissioned in 2010, the report provides some fascinating insights into how people perceive the real estate industry and how technology has changed the industry. For example, the survey shows that 67% of respondents were attracted to the area they purchased because of lifestyle factors.
One very interesting fact that came out of the research was how people found the property they purchased and how this has changed since they last did a similar survey in 2003. The latest survey showed that 46% of people found their property by searching on general real estate websites and only 7% found their property in the newspaper. In 2003, 16% found their property in the news paper and 30% were introduced by an agent. Furthermore, only 2% found their property by looking in an agents window and 1% in a general real estate magazine.
Clearly the industry has seen some significant changes over the recent years and this is evident in how we are searching for property. There is more knowledge publicly available and marketing has become much more efficient and dynamic. The internet has seen the need for expensive press advertising reduced, as for a smaller investment, a property is live 24 hours a day for a much longer period of time than a newspaper sits on the table. Likewise, the traditional retail shop window is now redundant and unnecessary.
Changes in technology have seen the industry become more efficient and cost effective, particularly in how property is promoted or marketed, giving buyers and sellers more information and changing how agents need to operate.
Elysium Real Estate New Office
We have recently moved from the old AVJennings Sales Office into an office in the maintenance building in Bennets Ash Road. This has enabled Elysium Real Estate to maintain our presence in the estate and to be easily available to the residents of the estate.
In the past 6 months since opening Elysium Real Estate we have been able to provide a personalized real estate service that has achieved results beyond our expectations. Our approach to marketing that promotes the property (not our business) in media that produces results has proven successful!! Our marketing programs are cost effective, targeted and combined with our knowledge of the area have achieved great results.
We are looking forward to an exciting year ahead and all the indicators are pointing to continued steady growth and consistent buyer interest. The year has started with strong enquiry and expectations are high for this to continue through the year.
Another String to Our Bow
As you know, Elysium Real Estate specializes in property sales. That is all we do and we focus on doing it very well, however we often are asked about property management as often things change, or as an investor, you may feel that having a local presence to handle any issues is an advantage. With this in mind we have established and excellent arrangement and understanding with a specialist property manager whom I trust and recommend. If you are in need of a local property management service I would be happy to put you in contact with them to discuss.