The Sunshine Coast real estate market is really buzzing
By Ray White Beerwah
IT feels like COVID market 2.0 in real estate right now! Homes are simply not lasting. The moment we put a property on the market, the phone rings!
Just in the past few weeks, we’ve seen overwhelming buyer activity. One property in Landsborough attracted 31 groups (more than 90 people) through its very first open home and went under offer that day with nine offers, with the price going well above the initial asking price. Another drew 11 groups on its first weekend with four offers, while yet another had 17 groups through in its first three days of being online.
The demand is extraordinary, and in some cases, we have put together many off-market transactions to help with buyer demand; however, the first and second open home is when we see the real magic happen.
The biggest appetite right now is for entry-level properties under $1,000,000. Government incentives are playing a big part in this demand, with first-home buyers now able to secure a property with just a 5% deposit and no lenders mortgage insurance. That alone is saving them thousands upfront, and banks are also showing greater flexibility for this demographic.
Affordable homes are now outpacing the rest of the market, rising at an average of 8.3%. This is fueling even more competition, as buyers recognise both the lifestyle and investment opportunities our area has to offer.
If you’ve been considering selling, now is the time. With record demand and limited stock, the conditions couldn’t be stronger. Give Ray White a call on 5439 0300 – we’d love to help you make your next move.
