Robust prices and invigorated property sales are ensuring one suburb west of the Nicklin Way remains a healthy prospect in the minds of cashed-up buyers.
Demand for property in Birtinya – the heart of the region’s Health Precinct and only a stone’s throw from shopping and the beaches of Bokarina, Wurtulla and Currimundi – continues to shine, despite the current tight economic climate and continuing interest rate hikes.
And strong auction action is creating an atmosphere where both buyers and sellers are walking away happy.
Dan McNamara, of Ray White Kawana Waters, said Birtinya sales prices were up “across the board”, but the area was setting records for units when taken to auction – time and time again, selling at significantly higher prices than both buyers and sellers anticipated.
“There is still a lot of FOMO (fear of missing out) out there and amenities play a significant role in the decision-making process,” Mr McNamara said of the recent sales.
“People who are actually buying just want a genuine place to call home, thereby contributing to the overall stability of the market.
“Birtinya is bucking the trend but I’ll be honest, there’s been a lot of luck there, too: we’ve just had the right people at the right time.
“Things have just fallen into place on the home front but the unit prices – to see those increases have been incredible.
“That is a standout.”
Mr McNamara said his office had set a benchmark for a one-bedroom unit in Birtinya Boulevard, surpassing the previous record set, then a mere two weeks later setting the record price considerably higher again.
“Historically, the highest price for building 101 Birtinya Boulevard (unit block) was $421,000 or $425,000: that was in the absolute peak of the market,” he said.
“We just transacted one at $426,000 – not a big increase, but an increase nonetheless.
“I’ve just got another one under contract, which is due to go unconditional by Monday, which is going to reset that record yet again.
“I can’t give out the price just yet but it is considerably above and not only that, it’s only on the second floor whereas the one we set the record for was top floor.
“Then to 69 Prosperity Drive: a four-bedroom, two-bathroom, two-car town home – $895,000. The highest price throughout the pandemic … was $887,000.
“And 40 Viridian Circuit. It was on the market in December. The highest offer prior with another agent was $795,000. We took it to market, didn’t even get to do the (marketing) photos, and sold it for $837,500.
“There was one up the road with another agent, and it sold for $775,000. Absolutely identical.”
Mr McNamara, who moved to Birtinya with his wife from Melbourne for a lifestyle change, said all his sales in Birtinya had been to owner/occupiers, with only a handful of those buyers working in the health industry.
He believes the location and amenities of Birtinya held value for the majority of buyers.
“Despite a 68 per cent decrease in available homes, the market hasn’t just picked up again after a brief lull but has more so bucked all national trends,” he said.
“Birtinya … is still somewhat undervalued in terms of proximity to everywhere.
“Everything I’m reading and seeing on the news, it’s all doom and gloom. While concerns about interest rates have affected buyer sentiment, serious buyers remain very active in the market.
“But ultimately, buyers still buy and sellers still sell. There has been hesitation, but serious buyers are still buying.
“There’s an air of caution around what they’re spending but there’s still three or four cautious buyers pushing the prices up.
“They’ve done their homework prior and then they’re seeing that they’re not the only party really involved (at the auction) and they’re quite surprised.”
The aerial imagery in this story is from Australian location intelligence company Nearmap. The company provides government organisations, architectural, construction and engineering firms, and other companies, with easy, instant access to high-resolution aerial imagery, city-scale 3D content, artificial intelligence data sets, and geospatial tools to assist with urban planning, monitoring and development projects in Australia, New Zealand and North America.
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