Whilst we can all agree that the property market has seen some phenomenal growth over the past few years, many buyers and sellers still have questions around the future direction of prices.

So called experts always offer their opinions, an article released last week in the Australian Financial Review Newspaper put forward some interesting thoughts about what may lay ahead.

There is no doubt that articles such as our lead story featured below will give additional confidence to buyers, and as we know, two of the main ingredients for price growth are buyer confidence and the laws of supply and demand.

With the first quarter of 2024 now behind us, clear patterns have emerged across the Gold Coast and the country that shows that the property market has gathered pace.

What has also become obvious is that an increased level of listing numbers across the country has failed to slow the price growth.

With this in mind, there are several pockets across the nation where stock levels have not increased in line with expectations.

Today is the last day of the January to March quarter which represents an opportunity for us to review some early 2024 data.

With today being a Sunday, we can safely say that "live" listing numbers as they sit across the Gold Coast today will ultimately reflect the actual numbers when they are reported early in the week.

For the record, listing numbers have increased on the Gold Coast for the January to March 2024 quarter, but they have not increased anywhere near the volume that was predicted.

With the end of the first quarter of 2024 now only a week away, early reports are coming in declaring that the volume of new listings hitting the market is accelerating.

Whilst we will be able to report these figures accurately next week at the conclusion of the month, both realestate.com and the Gold Coast Bulletin have ran stories this week discussing the rise in listings numbers as well as the reasons behind new listings growth

Whilst seller confidence in market conditions is one reason for more listings coming to market, there is no doubt that investors are now feeling the pinch with higher interest rates and the growing demands and red tape placed on landlords seen as a key reason why investors are selling.

Last week's information comes from two different sources, the first is the latest "Ray White Now". This document will provide you with an outstanding level of current and historical information that will help provide clarity on current property market conditions. The second is from Core Logic.

A simple social media tile that we posted last week demonstrates the current strength of the property market here on the Gold Coast.

The social media tile stated that over the past five weeks, Ray White Robina had placed 23 Robina properties under contract which equates to approx one in three sales in the suburb of Robina over that time period.

For full transparency, the breakdown of the 23 sales were 12 houses and 11 units.

With the month of February now complete, we once again have an enormous amount of articles and statistical information that gives us an insight into current market conditions.

We have chosen two lead articles this week and both discuss key fundamentals driving today's market.

Whilst these articles provide value, it may very well be our own numbers that best reflect current market sentiment.

When we look at our February open homes over the past few years, the stand out metric for 2024 is simply the volume of buyers currently in the marketplace.

An article released on Friday in the AFR newspaper painted a bleak picture for our home suburb of Robina.

The article, " Distressed listings to rise if mortgage rates stay on hold this year" discusses mortgage stress and suggests that 13.9% of the new Robina listings that came to market in January were facing significant mortgage stress.

We have often heard that there are two types of property markets. It's either a buyers market or a sellers market.

There is no denying that the Gold Coast is a sellers market right now but how many sellers are actually prepared to take advantage of this ?

Last week's property news was dominated by the Reserve Bank's decision to leave interest rates on hold, however the real news here on the Gold Coast centres on the growing imbalance between the number of available listings for sale and the number of buyers looking to purchase.

Whilst the RBA leaving interest rates on hold was widely expected, one of the more newsworthy pieces was CoreLogics monthly update which focused on property trends throughout January from around the country.

The key piece of information in the CoreLogic report was that the number of new listings across Australia was in fact 11.9% higher than at the same time last year.

The incredible turnouts that we are seeing at open homes to start 2024 is a sure sign that buyers now believe interest rates have peaked.

At open homes in and around Robina on Saturday, the energy and number of buyers was quite incredible. In fact, Saturday's open homes reminded me of what we witnessed at the beginning of 2021 during the peak of the last upward swing.

As always, it's incredibly difficult to predict what this sudden surge in momentum means for the property market so for the moment, why don't we just focus on what we are currently seeing and the unique opportunity these conditions are providing for current sellers.

Despite being the sixth largest city in Australia, it is often difficult to find statistics that clearly identify Gold Coast property trends due to the fact that the Gold Coast is not considered a Capital City.

With this in mind, it was pleasing yesterday to see a report released by the Sydney Morning Herald newspaper discussing the Gold Coast and also the fact that our region now carries a median house price of over $1,000,000.

An article released last week gives us an insight into exactly how difficult things have become for tenants in and around the Greater Robina area.

The article with the headline, "Agony of Renting in Robina" discusses the fact that Robina has now been rated as the sixth toughest area in the country to be a renter.

For many buyers and sellers, Saturday was undoubtedly the first real estate day of the year with open homes back in full swing following a week of strong new listings activity both here on the Gold Coast and right around the country.

Deciding to buy a house is a significant life event, and timing plays a pivotal role in ensuring a successful and financially sound investment. As we step into 2024, prospective homebuyers are eager to identify the optimal window for making this crucial decision. In this blog, we'll explore the key factors influencing the real estate market in 2024 and guide you on determining the best time to embark on your homeownership journey.

It's incredible how much property information circulates each year as we approach the Christmas & New Year period.

This year has been no different with an extraordinary amount of statistics released that focus on what has transpired in the property market over 2023 and then projecting forward to what we may expect in 2024.

As Robina, the suburb that I love, continues to evolve, the suburb is poised for a future that holds promise and potential. From urban development to technological advancements, there's much to anticipate in this thriving corner of the Gold Coast. In this blog, let's delve into the exciting possibilities and speculate on what the future might hold for Robina.

As we move into the final month of 2023 we have a wide range of articles, reports and forecasts that will give you and your clients a terrific overview of the property market.

The growth in property prices this year has been quite phenomenal with the Gold Coast experiencing growth of 11.8% according to RP Data which is a combined house and unit summary.

With the year now in its last month, what will 2024 bring? This is a question that we are hoping to help you with in this week's report.