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Scott Lachmund: Hi. Scott Lachmund from Richardson and Wrench Real Estate Caboolture, Principal and Licensee of our family business. We’ve been operating for 25 years now in the Moreton Bay region. With me, Sales Consultant, Jarrod Willis. How are you going, Jarrod?
Jarrod Willis: Good afternoon. Well. Thank you.
Scott Lachmund: Okay. Now we wanted to bring you a real estate market update. We’re sitting mid-August at the moment. Already through our last financial year, and I can’t believe we’re already a month and a half into the new financial year. I get asked every day, mate, I’m sure you do too, but how is the market?
Jarrod Willis: Yeah, good question Scott. It’s certainly been an interesting market at the moment. We’re certainly seeing a lot of interstate owner occupier still be attracted to our area. A lot of people from Melbourne, Adelaide, even just south of Brisbane. Still attracted to the affordability in our region.
Scott Lachmund: Those owner occupiers are coming from southern areas with a bag of cash where they’ve maybe sold or settled down south where prices are more favourable. What’s interesting I’ve seen is that it’s not so much the lower end of the market, which we traditionally see.
Jarrod Willis: No, that’s right. We’re seeing a lot of interest. People may be selling their property down south and wanting to buy some of the larger acreage properties, sort of six, seven, even into the $800,000 bracket, which has been good. Subject to the sale of their property down south, so pretty common.
Scott Lachmund: With that affordability, they’re moving here with a lifestyle property where maybe they’ve still got some leftover money in their pocket to invest as well. I was going to touch on for our viewers of 4510 TV, I’m wearing my real estate hate today, not my presenter outfit. The first six months of the year, we lost a bit of traction with our investment market.
Traditionally, I would suggest over the first six month period of the year traditionally we might have sold 20 to 30 properties ourselves to the investment market, but I think with … There was a bit of political unsettling happening federally, and investors were a bit shy to make decisions based on possible changes to investment and capital gains, etc. We definitely saw that around town, right?
Jarrod Willis: Yeah, definitely. Definitely.
Scott Lachmund: Then people, as you say, lucky enough for an owner occupier market, that’s still continued through. Jarrod, another thing, mate, that we want to touch on is, we talk about activity in the market. I mentioned earlier days on market are getting a bit longer. Run us through that.
Jarrod Willis: Yeah, sure. Traditionally over the last few years, sort of days on market have always started around sort of that 90 day mark. We’re seeing that stretch out to about that 120, 125 days now. I guess [inaudible 00:03:00] issues that we’re coming up against. I think you did some stats recently on our office.
Scott Lachmund: Yeah, personally for our office. If the average is 120 to 130, broad section across our core, six suburbs, personally our office is sitting around that 72, 73 days on market. So, what it’s meaning is that we’re selling properties perhaps a little bit quicker than our opposition. Another good step, mate, is out of the … I looked recently, 181 agencies in our local area servicing our six core suburbs. Now, when I say six core suburbs, Caboolture, Morayfield, Caboolture South, Bellmere, Elimbah and Upper Caboolture.
For the last 12 months, our agency has ranked number one agent across those six core suburbs for the volume of sales. That continues on that when we talk about our days on market being shorter, another interesting statistic, we can’t quote directly from RealEstate.com or Domain.com, two of our major websites, but collectively I did some statistics.
Let’s tell our viewers, Jarrod, last month for our website or our listings alone, over 107,000 views on our properties alone in the last 30 days resulting in 1,534 direct inquiries to our agency from buyers. Engagement close to half a million, 450,000 engagements. What that means is that they’re seeing the property 100,000 times as it scrolls through, but then they’re clicking in and looking through that photo carousal.
Where I pointed out maybe recently on social media is perhaps with our volume of sales and with this activity that we’re holding strong with, it sort of paints a picture to future home sellers that we’re getting in front of a bigger audience. I think that’s got to do with our marketing. Talk about that for a sec.
Jarrod Willis: Yeah, definitely, Scott. At Richardson and Wrench, we definitely pride ourselves on quality marketing. So, gone are the days of going to a property and using your iPhone to take photos. We definitely have a professional photographer onsite. Floor plan is a big one as well, becoming more and more common and a must these days.
I guess going back to those interstate buyers, they get a good map of the property’s floor plan, et cetera. A nice photo sign board showcasing the property and what the buyers can’t see from the front of the road. I guess just a wider reach, as you say.
Scott Lachmund: Yeah. We started using drone technology. When the first drone came out, we add that to our marketing package because I think that also gives an idea of the location in the neighbourhood, the house in the neighbourhood as well as location to schools or distances to shopping centres, which again, I think’s helpful for people that are outside of the area and doing research. You’d say that marketing is obviously cutting through to get this audience that we’re reaching?
Jarrod Willis: Yeah, definitely. Definitely helps. We can keep them there longer and looking through more photos. That’s obviously the goal.
Scott Lachmund: Yep. Another thing quickly, real estate market update. We haven’t done this for a few months now. Just to bring you up to speed. If people talk about how the market is, it’s doom and gloom and things aren’t going well, I’d say I defend that strongly. We still have great activity in our wider region.
We’ve said just now in the update days on market are stretching a little bit, but we’ve still got those buyers. I’d say the market is active. It’s probably buoyant is a good word where it’s just stable at the minute. I think affordability, people getting into the market now. We’ve heard through the media that money is as cheap as it’s ever been. Very low interest rates with the Reserve Bank continuing to look at their interest rates.
It has a flow on effect that you could pick up a home loan possibly four percent, an investment property that’s returning a strong return of, say, five and a half to six percent. The property is almost neutrally geared, if not positive, in the current market. So, that’s a good thing for investors to re-enter into our Caboolture region. As we know, tenancies are very popular. Next to zero vacancy rate. There is a strong demand for tenants. Jarrod, anything else you’d like to add for the update, mate?
Jarrod Willis: I think it just comes back to the fact of the old cliché in real estate, the three P’s. As long as the property is positioned well, presented well and priced right, it will sell.
Scott Lachmund: Yep, definitely. We have that talk with our clients. If something’s not quite going to plan with the campaign, if it’s getting a little bit longer days on market, they’re the three P’s that we look for. Nine times out of ten, it comes back to a little bit of a price adjustment to just get in front of that next budget of people looking.
For all your real estate needs, we are Richardson and Wrench Real Estate at Caboolture. A proud 25 year history serving our wider region. Let me tell you, real estate is active. Anyone saying otherwise, maybe you’re talking to the wrong real estate agent. We’ve certainly got the volume and got the runs on the board.
We might say for now, there’s been a little bit of a talk to finish this update, a little bit of talk about Caboolture West and what that future looks like. I’ll save that for an update coming very soon and give you the lowdown and the local expert opinion on what’s happening in Caboolture West. There’s a lot of rumour mongering. You’ve heard different events. What have you heard?
Jarrod Willis: It’s just massive. That’s what I’ve heard.
Scott Lachmund: Yeah, it’s massive. There’s 100,000 homes. There’s no roads. There’s no networks. There’s no infrastructure. Well, we know a bit better talking direct to the developers and the land owners that those fundamentals are being considered. Let’s talk about that in a future update.
For now, real estate update in Caboolture. Sing out to us, 5498-9800. Jump on our website, 4510.com.au. Sing out to Jarrod, all the team if you need anything real estate related. Jarrod.
Jarrod Willis: Thanks very much, Scott. Thanks guys.