17 Aug Owners making $100k plus in SE QLD Market Boom!
The Market in SE QLD is going from strength to strength as owners are cashing in. I just wanted to share one of our sales stories with you to give you an idea of how things are unfolding in this property market.
We advertised a home for sale for one of our investors on Friday at about lunchtime and by Saturday morning we had 38 separate enquiries for the sale. Due to the current COVID restrictions we were unable to show them all through the home and started to try and vet them via phone and email and only allow those serious buyers to the open once booked in. The asking price was $580k to $600k which is about $120k more than the owner paid only 3yrs ago. We had one buyer that was so annoyed with missing out on all the previous sales they have attended so they decided to offer $620k cash, without even seeing the home. Absolutely crazy market at the moment.
I just wanted to remind all our investors that we’re able to sell your investment should you wish to and also able to provide a Comparative Market Appraisal if you’d like to get an idea of price before selling. Having said that there is still a lot of movement to happen in the local market here yet so if you don’t need to sell then I would recommend waiting a bit longer. You also need to have a plan of what you will do with the money once sold so please touch base with me should you wish to discuss your options.
I read a recent article from Michael Matusik which talked about property prices in SE QLD and particularly on the Gold Coast. He said that back in 2011 the average price difference between a home on the GC and a home in Sydney was about 5%. As of 2021 this price differential is about 45% and hence why he has predicted about 5 more years of solid growth for the GC as Sydney money flows this way.
So if you have an investment and are looking to sell please let us know, and if you’d like to look at investing in SE QLD then please touch base as we do have some pretty good options that could allow you into the market. Buying land and building is way cheaper at the moment than buying something already established.
Have a great day and keep safe.