Andrew Bell’s Market Wrap: Some Change in the Air

Issue 15 | Thursday June 18th 2020 | Some Change in the Air

Hi, Andrew Bell here and coming to you from this remarkable home at 97 Commodore Drive, Paradise Waters. I am sharing it with you as it really is quite an iconic property here on the Gold Coast.

On a massive 1,184 sqm block, it has a massive 23m frontage to Main River and is one of the only properties with a wonderful entertainment deck out over the water.

It is perfectly designed with a great floorplan for the family while also offering comfortable and enjoyable spaces for entertaining. It is a big 5-bedroom plus study home including a ground floor guest suite. Have a good look through the property as I share some updates with you, but you will never truly appreciate the home without physically inspecting.

In last weeks report, I shared some of the latest information on the real estate market. The fact that we are continuing to sell more properties than we list. As expected, the emerging from COVID-19 has started to see some changes. Buyer activity is still strong but we are now starting to see the upswing in listings coming to the market right across the country.

Here locally that is of course reflected in the Gold Coast Bulletin now producing the largest volume of advertising in its history. Amongst that are a lot of property with unmotivated sellers. People who have been enticed onto the market by the real estate industry spruiking the fact there are a lot of buyers about. Many of these sellers are just testing the waters but would sell if they got an outstanding price.

Whilst more stock is coming to the market the big question is how many of these new listings are motivated sellers. It will be these people who determine the direction of the real estate market moving forward. Whenever we enter a recession there are sadly those among us who find themselves in more difficult financial situations and many of those people are forced to sell their assets, including their real estate holdings. It is the prices that these people accept in the marketplace that determines today’s values and who will set the valuations for everyone in the marketplace.

Buyers quickly adjust to market price and as more and more information surfaces about the economy and about the real estate market post COVID-19 this will influence the volume of buyers and the prices they will pay.

Right now, the signs are all positive and so we are recording some amazing sales at wonderful and fair prices. In my next eNews report, I will touch on a review of the 5 fundamentals that drive the real estate market so we can get a bit of a feel for the road ahead.

I hope you have enjoyed looking at 97 Commodore Drive. It is one of the most well-constructed homes I have ever seen. As you wander through the home it has a real feeling of strength and security in its amazing construction, but it also has feature after feature that makes it one of the most liveable homes with incredible privacy. For you car buffs, I am sure the 7 car garage will accommodate your car collection. For more information on this property please contact marketing agent Robert Graham on 0403 737 788. Robert is amazingly informative having been in the industry for 20 years and has been responsible for the sale of so many landmark properties.

Fingers crossed we will have our borders open any day now and that will be a massive stimulant to the Gold Coast. We certainly have the welcome mat out and suspect an avalanche of visitors to the Gold Coast, and with the shortest day of the year on our doorstep, we are excited to be heading back towards summer once again.

Warm Regards, Andrew Bell

Kind regards,

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

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