Unit Sales

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The unit market around the Sunshine Coast is patchy, according to Herron Todd White, who believe the market peaked early 2008 and unit sales activity halved to their lowest point in 2012.
Herron Todd White's September Month in Review said sellers became more accepting of the repriced unit market with an increase in volumes in 2014 and sales volumes and median prices are on track to beating that in 2015.
"Unlike houses, the unit values have increased but far more slowly with a median unit price in 2014 of $352,000," the report noted.
"In 2015 we are on track for sales volumes and median prices to better 2014. Most of the activity is below $500,000 which accounts for 77% of the sales. 
"The median unit price reached around $370,000 in 2008 and the volume of sales reaching 4,465 for 2007 and 3,337 for 2008. After this, sales halved to their lowest point in 2012 at 2,290 sales and a median unit price low of $345,000."
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Sunshine Coast units peaked in 2008: Herron Todd White

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Mackay units have been on a roller coaster ride over the past five years with a large number of smaller duplex, triplex and quadpruplex units competing with large scale unit complexes, according to Herron Todd White.
Herron Todd White's September Month in Review noted during the planning and construction phases, the market in Mackay turned quite sharply and quickly on the back of the downturn in the resource industry.
"Standard residential vacancies some two to three years ago were below 1%, and now hover just over the 9% mark. Rental values have reduced significantly on the back of this reduced demand and fallen in some instances up to 40% from previous highs," the review mentioned.
"In the past 18 months, there are another five highrise towers recently completed or nearing completion within the CBD or fringe locations: Rivermarque; Riviera Mackay; Carlyle Apartments; Pacific Sands; and Gateway Apartments. Rivermarque is a new eight level residential unit tower located within the fringe of Mackay CBD.
"Most of the new completed units in the CBD were purchased off the plan in 2012 prior to the fall in the Mackay market. It will be interesting to see when resales occur the level of demand and prices that can be achieved in the current market."
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Mackay units on a roller coaster ride: Herron Todd White

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House sales have trended higher while units sales have tapered according to CoreLogic RP Data's Housing Market and Economics Update for August.
The report found to May this this year 352,012 houses have been sold, up 2.5% from the same time last year.
131,922 units have been sold this year, a 7.7% decline from the same period in 2014.
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House sales still high, unit sales falling: CoreLogic RP Data

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Canberra suburbs Woden and Weston lead the local market for strongest local results, according to Herron Todd White.
Herron Todd White's October Month in Review said the performance of units is subdued and outer suburbs are remain steady, its the inner regions that are shining.
"Ainslie has seen some huge results over the past three months, at a time when winter traditionally cools the Canberra market," it noted.
"Strong sales have seen some entry level properties selling in excess of $700,000. Smaller, boutique development sites through Downer and Dickson have also seen strong competition with a number of sites purchased for amalgamation or independent development.
"The Woden and Weston market was Canberra’s most heavily impacted region as a result of the Mr Fluffy buy-back scheme. It appears that a large number of Mr Fluffy home owners have now been absorbed into the market, as the market continues at a strong, yet more sustainable rate. Strong sales have particularly been noted through Curtin, Weston and Waramanga. Despite the new supply through the Molonglo Valley, the upward trend of prices in Woden and Weston looks to continue into the foreseeable future."
 
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Canberra suburbs Woden and Weston lead the property pack: Herron Todd White

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Last month a new $84 million, 140 apartment project in the Melbourne inner suburb of Richmond was launched simultaneously in Beijing, Shanghai, Singapore, Kuala Lumpur and Malaysia.
The strategy for the pre-launch was to create ‘the excitement of auction day’ in each location, and thus stimulate maximum buyer demand and competition for apartments. 
International property marketers Jalin Realty was the sales agency behind the move, using the sales platform <a href="https://investorist.com/" target="_blank">Investorist.com</a>.
Buyers and agents were invited to live launch events in each city, hosted by Jalin staff. 
The Investorist website displayed all project information (photos, plans, brochures, pricelists, reservations updates, videos, etc) on both large TV screens and computer monitors.  
A ‘live electronic sales board’ showed reservations immediately to the entire audience, so all sales were transparent with the country of origin shown.
The five simultaneous events resulted in reservations of approximately 30% of the stock, which within a few weeks were converted into contracted sales.
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Innovative technology behind simultaneous launch of Melbourne project in five Asian cities‏

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The capital city median time on market for a house in Sydney is 34 days, Melbourne 33 and Canberra 38, according to CoreLogic's latest Property Market Indicator Summary.
Units in Sydney are taking 34 days to sell, Melbourne 36 days and Brisbane 83 days.
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34 days to sell a house in Sydney, Melbourne 33: CoreLogic

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A one bedroom unit at Sunshine sold for $245,000 making it Melbourne’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-sunshine-124099310" target="_blank">4/136-140 Wright Street</a>, the property was offered through Douglas Kay Real Estate agents Adrian Kay and Anthony Caccamo.
The adjoining villa sold for $242,000.
They both sold at $67,500 in 2001.
The median price of one bedroom units in Sunshine is $270,000, with the sale $25,000 short of the median price.
The median price of units overall in Sunshine is $352,500 while houses have a median price of $700,000.
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One bedroom Sunshine unit sold for $245,000

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A two bedroom Kent Town unit has sold for $342,000 making it Adelaide’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-sa-kent+town-125359730" target="_blank">3/2-8 College Road</a>, the property is a short walk from the city. It last sold in 2005 at $230,000.
Two bedrooms are available with the master bedroom being spacious.
Kitchen features stone benchtops, induction cooktop and breakfast bar.
Set 10 minutes from Rundle Street and metres from public transport, the property was offered through Harris Real Estate agents Tom Hector and Jarred Stamoulis.
They had offered $320,000 price guidance.
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Two bedroom Kent Town unit sold for $342,000

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A one bedroom Mordialloc unit has been sold for $309,000 making it Melbourne’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-unit-vic-mordialloc-123958594" target="_blank">3/2 Woods Avenue</a>, the property has a new bathroom, kitchen and floorboards with built-in robes.
Mordialloc shopping area is only a short walk away along with public transport and restaurants.
The median price of a unit in Mordialloc is $580,000, which is up on a year ago when its median price was $542,500.
The property was offered through Barry Plant agents Andre Koczek and Michael Care.
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One bedroom Mordialloc unit sold for $390,000

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A one bedroom unit at Essendon sold for $291,000 making it Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon-125666794" target="_blank">10/30 Richardson Street</a>, the property had been marketed as an affordable entry into the suburb.
Built in 1970, it was last sold in 2009 for $252,500. It sold in 2007 for $200,000.
Recently renovated, the interior features one double bedroom with its own built-in robes and ensuite bathroom.
It came with open lounge/meals area and modern kitchen featuring stainless steel cooking appliances.
Other feature include off-street parking.
The property was offered through Nelson Alexander agents David Vaughan and Richard Lowe.
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