What is happening on the Sunshine Coast?

Considering everything that is going in on in the world right now it seems kind of weird reporting on how buoyant the real estate “sellers” world is on The Sunshine Coast at the moment.

Right now we are having huge inspection numbers through open homes. This is normally followed buy multiple offers. My last 3 Auction campaigns in the last two weeks have sold on or prior to the Auction date. This has occurred with multiple bidders with cash, and accepting unconditional terms.

I only spoke with a colleague in Adelaide last night and she was saying that they are experiencing similar trends. She then went on to highlight that one open home in Adelaide had between 100-150 people through it in the first open!!! Hot, Hot, Hot!!!

Now whilst this is great news for potential sellers, the real question is, “Is the market a little over inflated or is this just the start of the new norm for the Sunshine Coast?”. There is a popular belief that we are yet to see the real  Covid-19 economic hangover. Yet, on the other hand, there are still thousands of buyers from VIC and NSW waiting for the boarders to open to make the move north.

Only last Saturday (17th October), we had 9 registered bidders jousting it out for 56 Deloraine Drive, Buderim. Of course, only one person can be the successful bidder. This means we now have eight cashed up families looking for a 4 bedroom house in Buderim. They have up to $840,000 to buy and would like to move in before Christmas. (Call if you know of anyone on the edge of selling in Buderim, preferably Headland Park side. These buyers are ready and i can offer a free property valuation in Buderim for any interested seller.)

So how long will this sellers market last?

Surely once Job Keeper and Job Seeker stop, many businesses will need to make redundancies and layoff staff.

Surely the reality of paying back the frozen mortgage repayments will hit some households hard too? The general consensus is that over the next 6 to 12 months, housing prices will correct themselves. This could mean that the overall confidence in the market will subside.

One thing is for sure, if you had any thoughts of selling in the next 1-2 years, I would be doing it now while the buyers and the money are here.

Anyway, that is enough from me, just wanted to remind you that I am here if you need me and can always provide obligation free advice on selling any property on the Sunshine Coast.

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Jamie Hill

Jamie Hill is a trusted real estate agent in Buderim, offering honest property appraisals and personalised services with over 26 years of sales experience, guiding clients from appraisal to settlement seamlessly.

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