April – June 2016 Elysium Real Estate Market Report
Welcome to the Elysium Real Estate Market Report for March – June 2016. The first half of 2016 has been a tale of two halves, with low turnover experienced in the first quarter and a big turnaround in the second quarter that has seen sales occurring regularly. Elysium Real Estate celebrated our first year of trading on July 1st and looking back it is quite amazing to reflect on how those 12 months have played out. We have exceeded our expectations by almost two fold and are grateful for the support of the community.
When we undertook establishing Elysium it was in the belief that we are able to offer a better service to owners in Elysium than other agents in Noosa. We know every property, every block of land and every issue the body corporate deals with and we believe this adds value to the selling and purchasing process. There has been many occasions where buyers have required answers about the operation of the body corporate and times when contract conditions required committee approval to complete the purchase and we have been able to facilitate these requirements quickly and easily, ensuring the sale was concluded successfully. This is a huge advantage to both sellers and buyers as we are able to give buyers the correct information about their obligations in the estate which plays a big part in giving buyers confidence to proceed and contributes to achieving higher prices for our clients.
The months of May and June has seen record sale prices achieved almost weekly and we have recently negotiated the highest sale price for a new home in the estate, which also is the third highest sale price achieved in the estate. This has topped of a year that has seen 35 properties sell in the estate, of which Elysium Real Estate negotiated the sale of 22! We have also successfully negotiated sales of properties in Noosaville, Sunrise Beach and Tewantin, achieving a total of 28 sales for the year. Our focus on digital marketing through the major internet real estate portals has proven successful and our reach is as far as any other agency in Noosa. In today’s digital market place more than ever, it’s not the number of agents in the agency that counts, it’s the agent’s knowledge of their market place and how they use this to negotiate the best price for the client.
I recently read an article by The National Property Research Company called “What Drives Residential Property?” This article very clearly outlines the link between population growth, jobs and price growth and gives a high level overview of how this is currently playing out in Australia. The link for the article is http://nprco.com.au/nprco-blog/2016/7/7/what-drives-residential-property and if we apply the principles to the local Noosa and Sunshine Coast markets, we see the next couple of years are likely to remain buoyant for several reasons. The Sunshine Coast University Hospital is a major infrastructure project that will transition from its construction phase to operation through the second half of this year. Unlike a mining project, the operation of a hospital provides a lot of employment in an industry that is not affected by the ups and down of the economy, such as tourism, retail and construction which have been the mainstays of the local economy for many years. This will underpin the economy and provide growth for the economy, jobs and therefore property market on the whole Sunshine Coast.
The second factor the report brings up that is likely to see growth continue in the region is the relative cost of housing compared to Sydney and Melbourne. At around half the cost of housing in Sydney and to a lesser degree Melbourne, the opportunity to “Cash in” and make a lifestyle change is a big pull for a lot of people, especially as they get closer to retirement. Our market has always benefited from high prices in the southern states, and while those markets continue to show strength, we should see the flow on into this area.
On a micro level, compared to other areas in Noosa, properties in Elysium continue to show very good value. Currently most of the new housing stock sits in a price range of $650,000 to $1,000,000 and when looking at properties in a similar price range outside of the estate it’s easy to see why we continue to see prices grow.
April – June Sales
32 Boxsell Rise, Sunrise Beach
8 Bennets Ash Road, Noosa Heads
Lot 66 Smoke Bush Drive, Noosa Heads
Lot 79 Blue Gum Road, Noosa Heads
11 White Beech Road, Noosa Heads
16 White Beech Road, Noosa Heads
12 Eagle Drive, Tewantin
19 Victory Crescent, Sunrise Beach
26 Smoke Bush Drive, Noosa Heads
42 Honey Myrtle Road, Noosa Heads (Under Contract)
If we can be of any assistance with your real estate needs, please do not hesitate to contact us at any time.