Mermaid Beach 14 January 2010
MARKET REPORT OCTOBER, NOVEMBER & DECEMBER 2009
PROPERTY BETWEEN THE BEACH AND THE HIGHWAY AT MERMAID BEACH AND MIAMI
THE EXPERIENCED ‘BEACHSIDE’ SALES TEAM
Top Row – Peter Lamb, Andrew Henderson (Principal), Luke Henderson (Partner & Auctioneer), Perry Brosnan & Mark Deeley
Bottom Row: Robyn Montrec & David Henderson (Consultant)
Welcome to our first newsletter for 2010, which marks our 37th year of helping property owners keep up to date with the ever-changing market conditions. During the previous quarter we have seen an easing in the local residential market, following two strong quarters through the middle of the year. Unfortunately, the signs of a strengthening market have not been sustained. While the market has come “off the bottom”, the latest round of interest rate increases has certainly made the buyers in the marketplace more cautious as to the amount of money they are willing to spend.
The lower priced properties, (or those perceived by the buyers as “good value”) still generally see the majority of interest and sales activity. We have previously mentioned the benefits derived by the local residential market from the increases to the First Home Buyers Scheme and there may well be some truth to the fact that the easing in the overall market is a direct effect from the government’s recent reductions to that scheme.
Our agency continues to be the market leader with the largest number of “beachside” sales. Our success supports the fact that it is so important to remember that sellers need to ensure that they have the most experienced “beachside” sales consultants working for them. Choosing an agent who is less experienced could be detrimental to the potential sale price you achieve.
Our sales team is always very active in the marketplace and consistently achieve strong sales results through hard work and experience. The selection of an experienced agent with the track record of “getting the job done” is now more important to property sellers than ever before.
BEACHFRONT WITH LAND CONTENT
There has been sustained activity in this area but unfortunately a number of these were forced sales which saw some of the most recent prices at 40% below their peaks. The recent noticeable increase in “for sale” boards along the beachfront strip will not inspire or place pressure on the buyers to act quickly.
The top price paid was a reported $17 million for 33 – 39 Hedges Avenue, which is locally nicknamed “the big house”. The home was previously sold for $27 million, which again was a reduction from its amalgamated cost. Another high profile sale was the property at 47 – 49 Hedges Avenue (corner of Alfred Street), which achieved $9.5 million.
We are currently marketing the 4th floor apartment at “On The Park” at 255 Hedges Avenue for offers over $2 million, which in our opinion represents terrific land content buying. This boutique whole-floor apartment building has a total of six apartments.
HOUSES AND FLATS WITH LAND CONTENT
Buyer activity in this sector of the market has reduced significantly from the high levels experienced in previous quarters. We primarily put this down to buyer hesitation in spending the larger sums of money, tighter bank lending criteria and some vendors’ pricing expectations being above today’s market values.
Prices today are on average achieving less than they were three years ago.
Sales for this quarter include a three-level five-bedroom residence, close to the beach end of the street in Ventura Road, selling at Auction for $1,650,000 and a very neat and previously renovated home on a larger 455 square metre land area in Seaside Avenue for $1,020,000.
In tough real estate markets, it is important that vendors seek out a sales consultant who is highly experienced in selling property in their local area. This is a unique industry where it normally costs no more to employ a successful agent than engaging someone less experienced.
This agency has been the major financial sponsor for over ten years to the three surf lifesaving clubs in our area, Mermaid Beach, Nobby Beach and Miami Beach.
HOME UNITS
Again the “beachside” units lead the way in sales activity as buyers source the most affordable and well positioned properties available. As detailed earlier, the number of first-home buyers has eased considerably during the last quarter. Investors are becoming more active in the marketplace but are seeking out those properties with the higher potential income returns.
These vendors have continued to be the most realistic with their pricing, thus providing them the greatest opportunity of achieving a sale.
During this quarter we were successful in selling two villas; the first was a modern three-level, three- bedroom, three-bathroom residence in Ocean Street for $800,000; and the second, a three-bedroom unit covering an entire floor of a property in Petrel Avenue for $600,000. Beachfront unit sales were made up of a top floor three bedroom unit in “Sanderling” on Marine Parade for $730,000; and a pair of two-bedroom older style units in “Miami Beach Apartments” also along Marine Parade for $395,000 & $375,000 respectively. Three-bedroom apartment sales were made up of “252 Hedges” on Hedges Avenue for $2 million and “Milford Haven” in Petrel Avenue for $499,000. Two bedroom with ensuite sales include “Madison on Lavarack” Lavarack Road for $434,000; “Montana Palms” Montana Road for $405,000; and “Grande Florida” Redondo Avenue for $290,000. Two- bedroom, one bathroom sales include a renovated unit in “Milford Haven” Petrel Avenue for $403,000; “Ningana Two” Petrel Avenue for $330,000; “Leemar Court” Mermaid Avenue for $313,000; and a one-bedroom unit selling in “Portobello Beachside Holiday Apartments” Gold Coast Highway for $216,000.
PERMANENT RENTALS
Rental prices have remained steady over the last quarter. One big positive is that vacancy rates have reduced to approximately 2%, which is realistically as low as we can hope to see, as you will always have at least a small turnover of tenancies all the time. This figure is down from the “normal” 3% area. There has still been a high turnover of properties due to the continued uncertain employment situation wherein tenants are seeking more affordable properties to those they presently rent. The reduction in first home buyers has assisted the rental demand.
Our own agency rent roll continues to show excellent growth with the number of properties which we manage now in excess of 600 and it is evident that investors are no longer interested in renting their own properties themselves and are showing a preference to act through an experienced and trusted agent. Our Group has continually conducted extensive on-going staff training to ensure that our rental personnel are able to offer our owners the best level of service.
We now have five Property Managers and four property management support staff. The continued staffing increases are a part of our long term commitment and plan for the continued growth of our business.
Our research continues to show that in excess of 80% of tenants are seeking rental property availability through the internet. Our agency has ensured that we have the most advanced techniques to keep abreast with this change, with all of our vacancies placed on the internet in a prominent manner and updated each weekday. We are continually told by the public that our internet site is second to none and to verify this you can inspect our rentals by logging on to www.prohenderson.com.au and then click on “renting”. Our potential tenants have access to four internet sites – our own site www.prohenderson.com.au, the Professionals Group site www.professionals.com.au, www.domain.com.au, and the largest real estate site in Australia www.realestate.com.au as well as these sites extensive links.
We are continually seeking new permanent rental properties for management and are very serious about this section of our business. We are currently caring for over $300 million worth of residential property. Furthermore you have the comfort of knowing that there is the backing and financial support of a highly successful family business which has been located at Mermaid Beach for thirty-seven years. Should you be dissatisfied with your current agent or unhappy with the situation of the management of your property being transferred from one agent to another agent when agency rent rolls are sold – then contact our property managers for care and stability.
BUYING, SELLING OR RENTING
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Should you be interested in buying, selling or renting we invite you to contact our consultants. We are a major selling agency and in fact, we sell more properties in this area than any other agent and have done so for well over 20 years. We are the leading Professional’s selling office, for number of sales, in Australia.
This is a family business which was established thirty-seven years ago at Mermaid Beach.
We are a successful company that believes in putting something back into the community and takes pride in being the major long term financial sponsors for the three local surf lifesaving clubs of Mermaid Beach, Nobby Beach and Miami Beach. During the past decade, we have donated over $300,000 to those Clubs to enable the purchase of valuable lifesaving equipment. These funds have enabled the clubs to purchase such equipment as a tractor, three beach vehicles, a patrol tower, equipment trailers for both on the beach and on road, refurbishment, partially equipping and maintaining a first-aid room, plus other items such as tents, surf skis, rescue boards, nipper boards, patrol clothing etc.
These contributions are on-going and recent support include three tents and a substantial cash donation for Mermaid Surf Club, a rescue board and a nipper board to the Miami Surf Club, and a substantial cash donation to assist the Nobby Beach Surf Club.
You can support the agency that supports your local community.
We Just Keep on Selling!
| Sales Personnel | Administration | Property Managerment |
| Robyn Montrec 0412 687 604 | David Henderson (Consultant) | Pauline James |
| Perry Brosnan 0414 758 204 | John Henderson (Consultant) | Melissa Wise |
| Mark Deeley 0412 225 931 | Lauren McMahon (Office) | Louise Ray |
| Andrew Henderson (Principal) 0438 691 972 | Jan Henderson (Office) | Shelby Riley |
| Luke Henderson (Auctioneer & Partner) 0409 599 507 | Sharon Howarth (Office) | Alice Vachre |
| James Thompson 0414 994 225 | Dale Edwards (Sales) | Kelly Mullen |
| Peter Lamb 0407 593 593 | Emma Elliott (Sales) | Amy Pollard |
| Kate Burchett (Buyer’s Agent) |
PRIVACY ACT
The clause below is inserted on all mail outs to property owners as a result of the new Privacy Act which came into effect from 21st December 2002.
We understand and share your concern about how personal information is collected, used and shared. We are committed to supporting the National Privacy Principles and our procedures relating to personal information are designed to ensure that you are fully protected under Australian privacy laws. We use the personal information you provide us to further develop our products and services and communicate to you relevant items of interest. If you do not wish to receive further communication from John Henderson Professionals Mermaid Beach please either email us at sales@prohenderson.com.au or correspond to us at the above address and please ensure to include the address of your Gold Coast property (if applicable).
BEACHFRONT WITH LAND CONTENT
There has been sustained activity in this area but unfortunately a number of these were forced sales which saw some of the most recent prices at 40% below their peaks. The recent noticeable increase in “for sale” boards along the beachfront strip will not inspire or place pressure on the buyers to act quickly.
The top price paid was a reported $17 million for 33 – 39 Hedges Avenue, which is locally nicknamed “the big house”. The home was previously sold for $27 million, which again was a reduction from its amalgamated cost. Another high profile sale was the property at 47 – 49 Hedges Avenue (corner of Alfred Street), which achieved $9.5 million.
We are currently marketing the 4th floor apartment at “On The Park” at 255 Hedges Avenue for offers over $2 million, which in our opinion represents terrific land content buying. This boutique whole-floor apartment building has a total of six apartments.
HOUSES AND FLATS WITH LAND CONTENT
Buyer activity in this sector of the market has reduced significantly from the high levels experienced in previous quarters. We primarily put this down to buyer hesitation in spending the larger sums of money, tighter bank lending criteria and some vendors’ pricing expectations being above today’s market values.
Prices today are on average achieving less than they were three years ago.
Sales for this quarter include a three-level five-bedroom residence, close to the beach end of the street in Ventura Road, selling at Auction for $1,650,000 and a very neat and previously renovated home on a larger 455 square metre land area in Seaside Avenue for $1,020,000.
In tough real estate markets, it is important that vendors seek out a sales consultant who is highly experienced in selling property in their local area. This is a unique industry where it normally costs no more to employ a successful agent than engaging someone less experienced.
This agency has been the major financial sponsor for over ten years to the three surf lifesaving clubs in our area, Mermaid Beach, Nobby Beach and Miami Beach.
HOME UNITS
Again the “beachside” units lead the way in sales activity as buyers source the most affordable and well positioned properties available. As detailed earlier, the number of first-home buyers has eased considerably during the last quarter. Investors are becoming more active in the marketplace but are seeking out those properties with the higher potential income returns.
These vendors have continued to be the most realistic with their pricing, thus providing them the greatest opportunity of achieving a sale.
During this quarter we were successful in selling two villas; the first was a modern three-level, three- bedroom, three-bathroom residence in Ocean Street for $800,000; and the second, a three-bedroom unit covering an entire floor of a property in Petrel Avenue for $600,000. Beachfront unit sales were made up of a top floor three bedroom unit in “Sanderling” on Marine Parade for $730,000; and a pair of two-bedroom older style units in “Miami Beach Apartments” also along Marine Parade for $395,000 & $375,000 respectively. Three-bedroom apartment sales were made up of “252 Hedges” on Hedges Avenue for $2 million and “Milford Haven” in Petrel Avenue for $499,000. Two bedroom with ensuite sales include “Madison on Lavarack” Lavarack Road for $434,000; “Montana Palms” Montana Road for $405,000; and “Grande Florida” Redondo Avenue for $290,000. Two- bedroom, one bathroom sales include a renovated unit in “Milford Haven” Petrel Avenue for $403,000; “Ningana Two” Petrel Avenue for $330,000; “Leemar Court” Mermaid Avenue for $313,000; and a one-bedroom unit selling in “Portobello Beachside Holiday Apartments” Gold Coast Highway for $216,000.
PERMANENT RENTALS
Rental prices have remained steady over the last quarter. One big positive is that vacancy rates have reduced to approximately 2%, which is realistically as low as we can hope to see, as you will always have at least a small turnover of tenancies all the time. This figure is down from the “normal” 3% area. There has still been a high turnover of properties due to the continued uncertain employment situation wherein tenants are seeking more affordable properties to those they presently rent. The reduction in first home buyers has assisted the rental demand.
Our own agency rent roll continues to show excellent growth with the number of properties which we manage now in excess of 600 and it is evident that investors are no longer interested in renting their own properties themselves and are showing a preference to act through an experienced and trusted agent. Our Group has continually conducted extensive on-going staff training to ensure that our rental personnel are able to offer our owners the best level of service.
We now have five Property Managers and four property management support staff. The continued staffing increases are a part of our long term commitment and plan for the continued growth of our business.
Our research continues to show that in excess of 80% of tenants are seeking rental property availability through the internet. Our agency has ensured that we have the most advanced techniques to keep abreast with this change, with all of our vacancies placed on the internet in a prominent manner and updated each weekday. We are continually told by the public that our internet site is second to none and to verify this you can inspect our rentals by logging on to www.prohenderson.com.au and then click on “renting”. Our potential tenants have access to four internet sites – our own site www.prohenderson.com.au, the Professionals Group site www.professionals.com.au, www.domain.com.au, and the largest real estate site in Australia www.realestate.com.au as well as these sites extensive links.
We are continually seeking new permanent rental properties for management and are very serious about this section of our business. We are currently caring for over $300 million worth of residential property. Furthermore you have the comfort of knowing that there is the backing and financial support of a highly successful family business which has been located at Mermaid Beach for thirty-seven years. Should you be dissatisfied with your current agent or unhappy with the situation of the management of your property being transferred from one agent to another agent when agency rent rolls are sold – then contact our property managers for care and stability.
BUYING, SELLING OR RENTING
Normal
0
false
false
false
EN-AU
X-NONE
X-NONE
MicrosoftInternetExplorer4
Should you be interested in buying, selling or renting we invite you to contact our consultants. We are a major selling agency and in fact, we sell more properties in this area than any other agent and have done so for well over 20 years. We are the leading Professional’s selling office, for number of sales, in Australia.
This is a family business which was established thirty-seven years ago at Mermaid Beach.
We are a successful company that believes in putting something back into the community and takes pride in being the major long term financial sponsors for the three local surf lifesaving clubs of Mermaid Beach, Nobby Beach and Miami Beach. During the past decade, we have donated over $300,000 to those Clubs to enable the purchase of valuable lifesaving equipment. These funds have enabled the clubs to purchase such equipment as a tractor, three beach vehicles, a patrol tower, equipment trailers for both on the beach and on road, refurbishment, partially equipping and maintaining a first-aid room, plus other items such as tents, surf skis, rescue boards, nipper boards, patrol clothing etc.
These contributions are on-going and recent support include three tents and a substantial cash donation for Mermaid Surf Club, a rescue board and a nipper board to the Miami Surf Club, and a substantial cash donation to assist the Nobby Beach Surf Club.
You can support the agency that supports your local community.
We Just Keep on Selling!
| Sales Personnel | Administration | Property Managerment |
| Robyn Montrec 0412 687 604 | David Henderson (Consultant) | Pauline James |
| Perry Brosnan 0414 758 204 | John Henderson (Consultant) | Melissa Wise |
| Mark Deeley 0412 225 931 | Lauren McMahon (Office) | Louise Ray |
| Andrew Henderson (Principal) 0438 691 972 | Jan Henderson (Office) | Shelby Riley |
| Luke Henderson (Auctioneer & Partner) 0409 599 507 | Sharon Howarth (Office) | Alice Vachre |
| James Thompson 0414 994 225 | Dale Edwards (Sales) | Kelly Mullen |
| Peter Lamb 0407 593 593 | Emma Elliott (Sales) | Amy Pollard |
| Kate Burchett (Buyer’s Agent) |
PRIVACY ACT
The clause below is inserted on all mail outs to property owners as a result of the new Privacy Act which came into effect from 21st December 2002.
We understand and share your concern about how personal information is collected, used and shared. We are committed to supporting the National Privacy Principles and our procedures relating to personal information are designed to ensure that you are fully protected under Australian privacy laws. We use the personal information you provide us to further develop our products and services and communicate to you relevant items of interest. If you do not wish to receive further communication from John Henderson Professionals Mermaid Beach please either email us at sales@prohenderson.com.au or correspond to us at the above address and please ensure to include the address of your Gold Coast property (if applicable).