Winter could well be the new spring on the Gold Coast as a buzz of buyer activity and a surge in new listings suggest the pandemic has thrown the traditional property seasons out of whack.
A report by CoreLogic shows the number of newly advertised properties for sale across the Gold Coast region increased by 6.4 per cent over the month of June, up 34 per cent from an April low.
“The rise in new listing numbers is an indication that homeowner confidence has improved enough that more vendors are willing to test the market,” the report states.
Sydney resident Gary Hahn is selling his Benowa Waters holiday home. Picture: Glenn Hampson
Sydney resients Gary and Julie Hahn, who are preparing to put their beloved Benowa Waters holiday home to auction next month after 18 years, felt confident going to market.
“I’ve bought a few properties over the years and I don’t think there’s a good or bad time to sell,” Mr Hahn said.
“If you’ve got something presentable and somebody wants it, it doesn’t matter when you’re selling.”
108 Cabana Boulevard, Benowa Waters has been with the Hahn family for 18 years.
Harcourts Coastal director Dane Atherton said the high level of buyer activity made winter an even better time to sell this year.
“The pandemic has certainly thrown the traditional seasonal periods out of whack,” he said.
“Winter on the Gold Coast is always the best time to sell because the contrast in weather is the greatest for our southern buyers which makes it even more attractive.
“Our sales volumes in April, May and June have been at spring levels — we finished $30 million up in June on written business.”
While new listing numbers have surged, total listings have held reasonably firm, implying a strong rate of absorption as buyer demand picks up more quickly than fresh stock being added to the market.
The strong rate of absorption is likely one of the factors supporting housing values across the Gold Coast. According to the CoreLogic home value index, Gold Coast dwelling values were steady in June and rose by 0.7 per cent over the quarter.
With the border now open to NSW buyers and locked down Victorians make plans to relocate, sellers are in a good position, added Mr Atherton.
“What’s happening in Victoria has further fuelled inquiry in our market as people have had enough and just want to get out there,” he said.
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