Real Estate Market Update - Mermaid Waters, Gold Coast - 27 September 2018
There's a lot of different messages out in the media with regards to the future of real estate prices in Australia. Some are predicting a doomsday scenario and others are more optimistic. The numbers, however, do not lie and below are the numbers for Mermaid Waters.
Looking at the numbers below, the market has declined slightly this year with prices down by -2.4%. However, the year on year price has only declined by -0.3%. (see the Sales Statistics graph below).
Days on market has also increased since December form approximately 50 days to approximately 62 days. This is still significantly lower than 5 years ago (see graph below).
Mermaid Water unit prices are definitely bucking the general trend this year, with an increase of 7.2% since the beginning of the year. The rolling year on year price is still down -2.5%, which indicates there was a spike in prices towards the end of 2017.
Days on market has increased sightly from approximately 55 days to approximately 60 days. This is still much lower than the 90+ days from 2013.
In summary, we are not seeing any signs of a significant drop of property prices in Mermaid Waters. Stock levels are also holding steady at around 107 properties currently on the market in the suburb, this number has remained steady for the past 6 months. Days on market has increased slightly over the past few months, however, certainly not enough to indicate any significant change in the market.