Winter has always been a good time for buyers to get into the market. Seasonally there is less competition and especially on the coastal markets it can contain good value in properties that missed the summer selling season.
For the last few years I have kept a keen eye on three coastal markets — Currumbin on the Gold Coast, Noosa on the Sunshine Coast and Point Lookout on Stradbroke Island.
I follow these three for various reasons, but mainly because I like the lifestyle benefits of them.
I have watched as the Gold Coast and the Sunshine Coast have roared ahead over the past 12 months.
The number of days it takes a property sell has dropped and prices have risen.
Like most investors I’m looking back thinking, ‘I knew I should have bought in 2012!’.
During the past week I’ve spent time with agents on the Gold Coast and Sunshine Coast. The word on the street from the agents on the Sunny Coast is that they are still experiencing strong conditions and it looks likely to push through until spring.
But when talking to a number of agents on the Gold Coast, they are experiencing a slight pause in the market.
This is likely just a seasonal hiccup or a readjustment to pricing. It can happen in a market from time to time and can sometimes only last a few weeks. But it can offer a window for prepared buyers who are preapproved and out making offers.
Point Lookout is also looking like good value. There are a number of houses for sale below $1 million and I can’t remember seeing that for quite a while.
This will likely bring in a few buyers and as sales take place it should start to stimulate pricing and that market could also be moving ahead by summer.
Whichever market you follow it’s about timing.
Right now it looks to me that a Gold Coast or Straddie purchase could represent fair buying, but I’m not sure for how long and you’ll need to do your homework. But the Sunshine Coast looks like it is going to power into summer and you’d only be buying now because if this heat continues it could really move over the next 12 months.