To sell or to sit tight? That is the question

New listing 91 Monaco Street, Broadbeach Waters, sold for $2.225m, a capital gain of $700,000 on its last sale 18 months ago.

THERE’S no denying that we are firmly in a sellers’ market
The latest sales and listings data from CoreLogic proves it, with numbers for the past quarter showing that property sales have surged against listing levels, rising to 171,100 nationally. This is 53.4 per cent up on figures taken at the same time over the past five years.
Meanwhile, only 121,200 new listings came on to the market in the same three-month period, taking the ratio of sales to new-listings to a national high of 1.4, where 1 is balanced and anything more than that indicates strong selling conditions.

If you list your home, be sure you have somewhere to move to.

Over the past ten years the ratio has struggled to reach 0.9, meaning buyers have, for a long time, been in the driver’s seat when it comes to the property market.
After clawing our way steadily out of the hole that was the GFC, in 2020 the pandemic had the market temporarily on tenterhooks with everyone bracing for another crash.
It turned out to be a false alarm, and the property market has been riding a wave of record sales and price growth ever since.

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Demand is outstripping supply by so much that some sellers are pocketing hundreds of thousands of dollars in capital growth on their homes in not just years, but months.
Nava Abedian, for instance, has just pocketed $6.5 million in profit after just 15 months when she sold her block of land on Hedges Avenue last week.
While this may be an extreme example, if you are fortunate enough to hold investment properties or a rarely used holiday home, have been land banking or perhaps are looking to downsize, now is the time to list your asset and, potentially, make your millions.
However, not everyone is in a position to capitalise on the buoyant conditions yet some homeowners are making rash decisions after being blinded by dollar signs.

10 Platypus Avenue, Sorrento, had recently been listed for auction on Wednesday, September 1 at 4pm through Kollosche.

I’ve spoken to a growing number of sellers recently who say they have put their properties on the market “because it’s too good an opportunity to pass up”.
But when I ask them where they are moving to, they shrug and say, “We’ll figure it out”, or “We’ll rent for a while”.
Those words leave me uneasy.
There is no doubt that most people who have owned their home for several years, could easily offload it in today’s market for a significant sum more than what they bought it for.
But if it is their one and only home, what purpose does it serve?
Selling your home with the idea of “renting for a while”, until the market cools and you can buy in the next market dip, is a risky strategy.

NEW LISTING: 27 Summerland Key, Broadbeach Waters is open to expressions of interest through Marc Keswell and Charlon Delos Angeles of Amir Prestige.

What if the market doesn’t dip?
While the 30 per cent annual growth being registered in some Gold Coast suburbs is unsustainable, the most probable outcome is that the market overall will continue to grow, just not at the juggernaut pace of the past 12 months.
So whatever you buy in future is going to cost you at least what you sold your home for, and then some.
Finding a rental in the current market could also prove tricky with vacancy rates the tightest the Gold Coast has seen, hovering at 0.6 per cent in the north, 0.7 per cent in the central suburbs and 0.3 per cent in the south.

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var result = minutes + “:” + (seconds < 10 ? "0" + seconds : seconds); return result; } })(window.videojs); Competition for housing is increasing. REA figures show that in the 12 months to March, more than 16,000 people migrated to Queensland’s regional areas, with a further 14,000 settling in Brisbane – with many more on the way. That’s a lot of people looking for a home in an already squeezed market. The catch-22 in all this, of course, is that the only to even out the housing market is if supply increases to meet demand.If you have a well thought out Plan B, by all means list your house pronto, you have a lot to gain. If you don’t, forget dollar signs. It may serve you better to just sit tight. The post To sell or to sit tight? That is the question appeared first on

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