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Property predictions 2020

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Property predictions 2020

With the close of another decade and a fresh one yet to unfold, My Property Preview has reached out to real estate agents from across the region to find out what they predict the 2020 property market will look like in their respective patches. Last year held many interesting events that impacted the market, but judging by the feedback from these industry experts, there are plenty of blue skies ahead.

Central Coast 

Loren Wimhurst  –Next Property Group

We found the first half of this year extremely slow for a number of reasons, being a general election and the aftermath of the Royal Banking Commission, and to top this off the end of the financial year, which normally sees a slowdown of transactions.

It seems our year really started in July and it hasn’t stopped since, with our top-end market in waterfront suburbs such as Mooloolaba, Minyama and Buddina all having high-end success and record sales – prices that we haven’t seen since pre-GFC. Within Next we have had a huge volume of these sales at $2 million, $3 million and even $4 million-plus, which certainly indicates confidence in the current market conditions despite what the national media has been reporting.

We have always found that the Sunshine Coast performs particularly well across the board with so many beautiful, lifestyle properties available.

In summary, our area, the central Sunshine Coast (mainly beachside and waterfront) has performed above our expectations and we feel there will be many more property success stories into 2020 and beyond.

 

The Range/Hinterland

Jess Luthje – Maleny Realty

The volume of listings and sales has retracted to the lowest level since 2008, which kept prices solid and reduced number of days on market.

There was a definite increase in investor interest in our market due to falling interest rates driving self-funded retirees to invest in property.

Land sales were up in 2019, largely due to the limited amount of established stock available, so we had quite a few first-time house builders.

I believe the market in the hinterland will continue to perform well.

We’ll see limited stock come onto the market in 2020, however, I don’t predict any major increases in prices.

There seems to be a real satisfaction with the area and people don’t want to leave in general, so we’re not seeing a lot of property come onto the market.

 

Central coast

Ross Cattle – Define Property

This year has been a fascinating one, totally interrupted by an election and a slowing property market more so in the southern states.

We did have some major concerns about the property market during the lead-up to the election, the favourite candidate for PM had some scary policies for the real estate industry and regardless of what political side of the fence you normally sit on, if you were in real estate or owned real estate, you were worried.

That was evident in the property market leading up to the election, with it completely stopping in its tracks.

The surprise result really got things moving and the sales numbers went through the roof.

It was a turbulent first half of the year, we see-sawed each month – one month would be huge and you felt like a rockstar, the next month you were scratching to make sales. This was a pattern right through the first half of the year and up until August before we started to see more consistency in the market.

The funny thing is, and it’s surprising, even though we had highs and lows, the overall numbers were higher than 2018.

The last quarter of 2019 has been game on, any property that presents well and shows decent value is getting gobbled up by buyers.

When I look at the numbers and if I judge the market on our results, it’s been a very positive five years.

We have grown as a business, year on year we get stronger and stronger, higher number of sales, higher prices and we are attracting many people to our very unique property management business, our commercial division has also grown dramatically in this time.

Next year is a no-brainer – heaps of sales and high prices, the Sunshine Coast represents the best value for money.

Our patch is undervalued and has enormous growth ahead. We are cheap, you can by a two-bedroom apartment with ensuite under $400,000 in suburbs like Mooloolaba and Alexandra Headland – that’s cheap.

You can by a cracking house beachside for a little over $1 million. That money won’t get you in any prime location interstate.

For what the Sunshine Coast has to offer, I believe the prices will continue to rise and why wouldn’t they?

The Sunshine Coast is the greatest place on the planet. We have the most amazing communities and a wonderful lifestyle on offer. This is the very reason prices will continue to rise and the southern influx will drive our marketplace.

 

Central coast

Paul Angell – First National

Listing numbers continue to be relatively low as sellers are holding on while property prices continue to grow on the Sunshine Coast.

The election lead-up in early 2019 saw the market soften with the uncertainty of change, but some upward momentum has delivered strong recent sales. Our office recorded its best month since July 2018 in November.

Owner-occupiers are driving our local market partly due to the changes to buying investment and challenges facing local and international investors.

There were many street and building record sales in the last six months and if the global economic markets can retain some stability, I believe the Sunshine Coast will have solid gains in 2020.

 

Caloundra 

Andrew Garland – Ray White

The year was one that started more slowly than we would like from a buyer activity perspective, but it built strongly through the year.

The year ends on a high with the Ray White Group doing a personal best in November.

Listings have been in short supply, even when the market was quieter earlier in the year. We have been fortunate enough to secure our share of listings through the year and we are expecting a strong start to 2020.

It was an unusual slowdown in the market that started in late 2018 following several years of strength.

The interest rate reductions in the middle of 2019 has brought buyers back into the market in waves.

We are also seeing a solid return of investor buyers in our part of the Coast. This is from a low base, however.

I am expecting to see the market to continue strongly while interest rates remain low.

The Caloundra beachside suburbs will continue to be strong and the estates at Pelican Waters, Little Mountain and Caloundra West will also benefit.

 

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Roxy has been a journalist for more than a decade and joined the MWP team at the end of 2016. She is a chocolate-powered writing machine who loves to engage with the Coast community, uncover untold inspirational stories and share information that can help people.

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