Think Local - Coolum property now in undersupply

Michael Matusik recently analysed the Australian housing market and determined that for detached housing, the 12 months to August 20012, the number on the market increased by 3%. This would seem to indicate a continuation of a buyer`s market.


However, the picture varies considerably by state and region as the attached newsletter highlights, and in all this it clearly shows Post Code 4573 Coolum as having the 3rd biggest drop and being now in an undersupply situation despite the Sunshine Coast as a whole being tagged as in oversupply. So much for the value of a national, or even regional, analysis being meaningful!

All this confirms my earlier advices from analysis of my farming territory of some 2,000 properties that Coolum is now a “hot spot” in a balanced market – well presented and properties well priced and marketed by the local expert are selling very quickly as the example in my newsletter of 66 Lagoda Drive, a magnificently presented property selling within 5 days for list price illustrates. (Note – tip for interior decorating in a following post shows how mirrors can be used to open up all rooms in the house – presentation is so critical today in marketing)

For further detail on Mount Coolum activity, my website at www.geoffgrover.com.au details all my recent sales and current listings. Keep an eye on this site for coming sales and new listings – several are about to hit websites.

In detail, Matusik found an:
* undersupply of detached houses for sale in Sydney(2%), regional NT (2%), Darwin(3%) and Perth(3%).

* Detached housing markets at equilibrium are: Adelaide(4%),Brisbane(4%),Melbourne(4%),Hobart(5%) and regional NSW (6%).

* Oversupplied detached housing markets are regional WA (especially the Margaret River area) (14%), regional Victoria (9%), regional Qld (including the Gold and Sunshine Coasts and Cairns) (8%), regional SA (7%) and the rest of Tassie 7%

But where are the stand-out post codes? And where are the shockers – the spots where housing supply has increased, and sometimes by lots?

The table shows the Top Ten Winners and Losers

Again highlighting the dangers of taking too broad a view, whilst Melbourne as a whole is regarded as being in equilibrium, 7 of the top ten postcodes revealing increases in stock are outer Melbourne suburbs, although paradoxically 2 of the top ten postcode stock drops were also outer Melbourne suburbs, namely Werribee South and Wyndham Vale Portland, the very busy port in Victoria, had by far the biggest drop.

Source – Matusik Missive September 25th and September 26th, post code table from SQM Research.
For further detail on Mount Coolum activity, my website at www.geoffgrover.com.au details all my recent sales and current listings. Keep an eye on this site for coming sales and new listings – several are about to hit websites.