Andrew Bell’s Market Wrap: New Year, New Property? The Event 2023 is here!

Issue 26 | Thursday 29 December 2022 | New Year, New Property? The Event 2023 is here!

Hi Andrew Bell, here and I trust you have had a wonderful Christmas with family and friends as we now march towards the final days of 2022. The celebration of a new year is just only days away. Whilst you may have a little more time off today this week, I only want to take a brief amount of time with you today as I do have some good news.

We know that the real estate market has been consumed by a lack of property available to purchase. Just take note of this as an example. In 2009, during the Global Financial Crisis, there were around 2300 properties on the market in the suburb of Surfers Paradise alone. The suburb of Surfers Paradise incorporates Paradise Waters, Chevron Island, Isle of Capri, and what we traditionally know as Surfers Paradise. There were houses, townhouses, and apartments. During that year as many as 2300 properties were on the market for sale. Move that forward to the middle of this year and we see that the volume of properties on the market, and allowing for the fact that there have been quite a lot of new buildings built, the volume of listings had dropped down to around 500 properties. Now, look at the current situation where we are just over 250 properties on the market of all types and all price brackets. That’s just a demonstration of how available properties for purchase have diminished by such a significant amount. In fact, around Australia stock levels are down by 37% at the same time last year. No wonder the market still holds so firm.

I know at this time of year our demand for real estate rises significantly. Hundreds of thousands of people flock to the Gold Coast for their summer break, and amongst those hundreds of thousands of people, there are so many who consciously take the decision to take advantage of their visit to the Coast. They are either seeking out a property to buy in order to move here as part of this continuous migration to Queensland or to buy a holiday home or just as a strict investment. Yet, this year they’re faced with the greatest shortage of properties in the marketplace that the Gold Coast has ever experienced.

The good news is that I have had my team working diligently over the past 6 weeks and have defied the trend and have secured a significant selection of Gold Coast properties to be part of this year’s Event 2022. The Event of course is the largest single auction promotion held every year in Australasia and is the brainchild of our office and has been running for some 30 years. It’s where we have pulled together genuinely motivated sellers who are wanting to sell their properties.

Contained within this eNews to you today is an overview of most of the properties that have just come to market, so have a good look at them. Feel free to reach out with enquiries, but more importantly attend our open homes and have a good look at the properties. With this incredible demand that we have for Gold Coast properties, you don’t want to delay in finding the property of your choice and locking in on it.

In the meantime, we are also looking for more stock for our upcoming February auctions, so for any sellers who miss the opportunity of being part of The Event please reach out to us as bookings will close in the third week of January, and there is always a big overflow of buyers from our January promotions that flow into February. It’s a golden opportunity for you.

So, for now, can I please pass on to you on behalf of all of our 200 plus team at Ray White Surfers Paradise Group our sincere thanks for all of the support, caring, and wonderful experiences that we have had with so many clients in 2022. We extend to you our commitment to be there for you and support you whilst obtaining great results for you throughout 2023. Just reach out on our hotline if there is anything we can do for you now, meanwhile a very very happy new year. All the best for 2023.

Warm Regards,

Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group

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