A word from our clients
Tyler Wagstaffe – Quarterly Update for The Southern Gold Coast
Posted: 7th July 2020
Posted in: News
It’s Tyler Wagstaffe from JW. Prestige Agents and this is your beachfront and beachside quarterly report for April – June 20. In this report I will touch on the current market conditions and key market statistics, and what a whirlwind it has been since my last quarterly report. We went from heightened buyer activity to a drop of at least 40% across the board in enquiries per property through the first weeks in March.
The market was understandably in panic mode due to the COVID-19 pandemic which triggered, and was topped off with significant dips across most sectors in the stock market and the loss of jobs, creating uncertainty and bringing overall consumer confidence down, but we have seen from April to now that lifestyle trumps all. The Southern Gold Coast is still tightly held and highly sought after and that reflects in the below statistics with strong prices still being achieved during COVID.
With June 10th being set as the date the border opens up to NSW I have seen a strong spike in buyer enquiry from our neighbouring state. I have also seen stronger enquiry from Brisbane buyers looking for a weekender as global travel could potentially be on hold for many months to come. Given this unprecedented situation, it’s hard to predict where our market will be in three months time but if property remains tightly held, the stock market continues to show high volatility and our borders remain open I believe we can finish this year off strong.
If you’re considering selling feel free to contact me for an obligation free appraisal.