Newsletter

1^st July 2010

MARKET REPORT APRIL, MAY & JUNE 2010

PROPERTY BETWEEN THE BEACH AND THE HIGHWAY AT MERMAID BEACH AND MIAMI

 

                 

From left to right – Kate Burchell, Debbie Frizelle, Perry Brosnan, Andrew Henderson (Principal) Luke Henderson (Partner & Auctioneer), Peter Lamb, Mark Deeley, Evelyne Castaldi & Martin Colwell

For the second quarter in a row, we have seen an increased number of listings for most types of property but now there are more quality properties available to purchasers. The increase in listings has continued to put more pressure on price levels and makes it even more important for a property to be correctly priced to attract potential buyers.

Lower priced property continues to be the most sought after with the majority of sales being for units priced less than $500,000. During this quarter, we have also been involved in more sales of properties largely based on their land content, with most of these having older style improvements. The number of sales has remained stable when compared with the preceding quarter.

Now is an ideal time for purchasers to take advantage of the current market conditions to secure a ‘beachside’ property whilst an attractive and extensive selection of properties is available.

Our agency continues to be the market leader with the largest number of ‘beachside’ sales. Our sales team is always very active in the market and consistently achieves strong sales results through hard work and experience. The selection of an experienced, trustworthy agent with a record of success is now even more important to property sellers.

The absolute beachfront market has been relatively quiet in sales. As a guide to pricing, a 405m2 block with older style improvements in Hedges Avenue recently settled at $4.5 million. There is a definite shortage of land for sale suitable for redevelopment. This has no doubt been brought about by the redevelopment of the area and the ever lessening number of properties with older style improvements.

In total contrast to the lack of sales is the high amount of residential building activity that is currently taking place. In Hedges Avenue alone there are 5 houses under construction. All five are of substantial size and quality - a large luxury duplex pair is also under construction.

The numbers of sales of this type of property is still at a low level. The main reason for this is that most of this property is in the $1 million plus market and all types of residential properties in this price range have been difficult to sell since the downturn of two years ago.

We now have some exceptionally positioned property for sale and this offers buyers an opportunity to purchase an asset with great potential for the future.

Some of the properties sold during the past quarter range from $950,000 for a cottage in Petrel Avenue to $1.1 million for a similar home in Seagull Avenue. Sales of two blocks of older style flats achieved $1.3 million and $1.4 million.

              

This agency has been the major financial sponsor for over ten years for the three surf lifesaving clubs in our area, Mermaid Beach, Nobby Beach and Miami Beach.

‘Beachside’ units continue to be the best selling sector of the market, with a reasonably high volume of sales being completed.

During this quarter some of our sales have included;

Villas:-

• 3 bedroom villa “Chairlift Avenue Apartments” Chairlift Avenue for $850,000.
• 4 bedroom & 3 bedroom villas “Currawong House” Venice Street for $750,000 & $755,000.
• A 3 bedroom apartment “Flame Tree on Hedges” Hedges Avenue for $715,000.

Units:-

• Marine Parade at Miami “Ceol Na Mara” $635,000.
• “Seagull Villas” Seagull Avenue for $405,000;
• “Diamond Sands” 2320 Gold Coast Highway $350,000;
• 2 x “Grande Florida” Redondo Avenue for $362,500 & $305,000;

Prices remain reasonably stable. However most activity is under the $500,000 price range.

 

Rental vacancy rates have grown from 2 per cent to 3 per cent with a high turnover of tenants still being evident. This increase in the vacancy rate has made it more difficult to rent vacant properties and in some instances rental prices have had to be reduced to find a satisfactory tenant.

In March, we placed a successful bid to purchase Taylor’s rent roll, which is part of our ongoing office & staff expansion which began in 2009. Our long term goal is to be managing more than 1000 rental properties by 2012.

With the purchase of this rent roll, we now proudly manage more than 700 properties. It is evident that investors are no longer interested in renting their own properties themselves and are showing a preference to appoint an experienced, professional 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 are using the most advanced techniques to keep abreast with this change.  All of our vacancies are placed on the internet in a prominent manner and our listings are 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.professionalsmermaidbeach.com.au and then click on “renting”. Potential tenants can find properties managed by us on 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 $350 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.

Should you be interested in buying, selling or renting we invite you to contact our consultants. We are a major selling agency.   In fact, we sell more properties in this area than any other agent and have done so for well over 30 years. We are the leading Professionals’ selling office, for number of sales, in Australia.

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 $325,000 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 ongoing and recent support includes a substantial cash donation to the Nobby Beach Surf Club. Each year we sponsor the “three-way carnival” between these clubs and the senior and nipper surf board prizes are now on display at the Nobby Beach Surf Club.

You can support the agency that supports your local community.

John Henderson Professionals Mermaid Beach is proud to accept the Gold Coast Business Excellence Award – Family Business for this outstanding level of service and support of the community.  We are very humbled to be presented with this prestigious award.

   

Principal, Andrew Henderson accepting the Gold Coast Business Excellence Award

Finally, a long range tip for the punters – the runner-up in the AJC Derby for the Henderson Family “Descarado” (High Chaparral) is back in training with Gai Waterhouse. All going well, he is headed for the big distance races of the Melbourne Spring Carnival. It’s time we had another major trophy to place next to “Sebring’s” Golden Slipper.

“Descarado” (in the middle) finishes 2nd in AJC Derby

Sales Personnel
Mark Deeley	Senior Sales Representative	0412 225 931
Perry Brosnan	Senior Sales Representative	0414 758 204
Luke Henderson	Auctioneer & Partner	0409 599 507
Peter Lamb	Senior Sales Representative	0407 593 593
Andrew Henderson	Principal	0438 691 972
Evelyne Castaldi	Senior Sales Representative	0410 088 866
Debbie Frizelle	Senior Sales Representative	0438 712 058
Martin Colwell	Senior Sales Representative	0415 150 037
Kate Burchell	Buyer’s Agent	0422 767 010
Lauren McMahon	Office Administration & Executive Assistant to the Principal
Dale Edwards	Sales Secretary
Emma Elliott	PA to Luke Henderson
Michelle Sharp	PA to Perry Brosnan
David Henderson	Consultant
John Henderson	Consultant
Property Management
Pauline James	Property Management Co-ordinator
Melissa Wise	Property Manager
Louise Ray	Property Manager
Alice Vachre	Property Manager
Jessica Krelle	Property Manager
Amy Pollard	Leasing Consultant
Lisa Boon	Receptionist/Property Manager’s Assistant
Jan Henderson	Office Administration
Sharon Howarth	Office Administration

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 21^st 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  salles@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).