With the Sunshine Coast fast becoming one of the most sought-after places in Australia to reside, it’s no wonder we are seeing a continual increase in property prices across the Coast.
It’s home to an array of beautiful residences, both seaside and country. The market is seeing an upturn with the new decade tipped to embrace record sales – making it an ideal time to sell or invest.
Last year, we saw buyers and investors being more cautious ahead of the banking Royal Commission inquiry, and then we were faced with a Federal Election result. With these no longer a focus, we speak to industry experts on trends in 2020 and how people can maximise sales results through effective marketing.
Award-winning agent, Karen Jones, from Adams and Jones, says: “2020 is predicted to be another buoyant year for property demand on the Sunshine Coast.
“Over the past 12 months, especially in the second half of 2019, the time that properties on the Coast spent on the market decreased, as the demand increased.
“High-end properties started selling in 60-90 days, which is quite fast and a great result for the market,” she explains.
“With a very strong demand for all properties, I believe it is imperative to ensure properties for sale have good exposure. An experienced agent is there to get the seller the very best price, not just a sale.” Which Ms Jones says is possible when the property is marketed to all potential buyers.
She says online and print marketing are important and work well together in reaching potential buyers.
“It is hard to generalise on budgets for selling because it does come down to the individual property, but a general rule of thumb has typically in the past been around one per cent of the value of the property,” she says.
Loren Wimhurst, founder of Next Property Group, is another key player in the local industry, with two decades of experience in the coastal market. She also says the rule of the one per cent marketing budget campaign for the total value of the property is usually accurate, but she is seeing this number as low as half a per cent or down to a quarter of a per cent.
Ms Wimhurst says: “Having a balanced marketing strategy is key to ensuring the right people are seeing the property and it is being marketed in its best light is absolutely crucial. There is no point advertising a multimillion-dollar property in a quarter page advertisement. People who are wanting to purchase that calibre of quality, are wanting to see it in the beautiful pages of a double page advertising spread and with editorial to follow suit.
“Despite every client and every property being different, the same industry rules still apply. While we like to think that there is a stock standard marketing rule of thumb, I do believe that a varied approach is best for strong results,” Ms Wimhurst adds.
We also spoke with Geoff Ohmsen of McGrath about their results and how they’re achieving great outcomes for their clients. Mr Ohmsen says they’re seeing properties down to below 34 days on market, on average.
“I am finding great success with our auction properties, with some fantastic results going under the hammer. We’re increasingly using online video to market properties. Video, along with print, online advertising and editorial content, is continuing to set the way for the future,” he says.
“We often sell properties in areas that the client had never thought about,” which he says is often the result of “…someone reading a property advertising or editorial feature, watching a video or reading about a property in a suburb which they might not have first considered. That often catches them off the cuff.”
Ms Wimhurst backs this up, saying they see spikes in enquiries following property features.
“The mix of buyers at the moment are varied. Over the festive season, we saw some sales come through from holidaymakers who were reading the likes of My Weekly Preview and saw a property, which sparked their interest. We see a spike in online views of properties we have advertised in print, further showing us that a balanced and strong marketing campaign works well,” she concludes.
At a glance
• 2020 predicted to be a buoyant year for property demand on the Sunshine Coast
• Increases are already being seen in both enquiry sales and volumes
• Having a balanced marketing strategy is key to ensuring prospective buyers are seeing the property
• Successful strategy includes online, print and video
• Marketing strategy budget is usually one per cent of property value (sometimes less!).