Temperatures hit 30 degrees on the Gold Coast in the last week of August, a Winter scorcher so to speak, symbolic of the great Spring Thaw that’s already underway in the southeast market.
Indeed, selling has always been seasonal in Australia .. and Spring is traditionally the time to list, when the sun is shining, showcasing your property in its best light; and perhaps also, buyers are in a good mood, able to leave their jackets in the car.
Ray White data shows there were 1643 homes on the market (Queensland wide) in August, but more importantly, there’s an additional 550 for which paperwork has been signed and just about ready to go live in September, bringing the total number of properties for sale to 2193.
That’s a 15.54% increase on the 1898 that were either on the market or pending, at the same time last year.
Ray White Burleigh Group Principal Tiger Malan is urging vendors to get the ‘For Sale’ sign up before the slow drip of properties becomes a torrent.
“The Spring Thaw is on,” he says.
“Buyers are out and about on the Gold Coast but I wouldn’t give them a chance to even go to your neighbour’s open home.
“Selling is always a matter of timing but you can wait too long, sometimes.
“By the end of September, the real estate liftout in the Gold Coast Bulletin will be full of comparable properties, so it begs the questions: do you really want to be selling then, or now?
“No doubt, there’ll be record sales all the way through to Christmas, such is the market on the GC at the moment, but my advice to vendors is this: don’t wait.
“There’s always a big drop off in listings in December each year, as buyers hit pause on their property plans for the festive season so it is a case of get in now, or you’ll be the one holding fire till 2025.”
Ray White data also shows there’s been a 195% increase in preapprovals for loans from August 2023, meaning buyers are cashed up and ready to make an offer.
“There’s actually been a 313% spike in preapproved borrowers from two years ago, so if you’re a vendor, this is a simple supply and demand equation,” Malan says.
“Of course, there’ll be other buyers who don’t need finance but they’ll have to compete with those who do, and that’s what’s driving up prices.
“The pool of potential offers is a big one.”
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