We have seen a steady increase in property values across the Sunrise Beach area over the past 12 months and this not only reflects a growing confidence in the local market, but it also underlines the desirability of Sunrise Beach as an area of choice for families seeking affordable beachside living. Sales of both houses and units in Sunrise Beach have been relatively strong and we have seen both selling with fewer days on the market and achieving better prices especially in the entry level price range. While buyer enquiry for Sunrise Beach has been high, property stock levels are comparatively low which leaves us with a number of surplus buyers on our database just waiting for an opportunity to purchase.
In the $500,000 to 1 million brackets, sales have been particularly strong and we have noticed time-on-market has decreased significantly in the $500,000-$600,000 range. Buyers for this range have been typical first home buyers along with astute investors looking to take advantage of any distressed sales which have all but disappeared. In the 1 million + range there are fewer buyers, however, there have been a number of significant transactions especially in the dress circle positions of Captains Court.
With winter approaching, it traditionally indicates a slowdown in the Sunrise Beach property market until the beginning of spring but due to the lack of a stock on the market, buyer enquiry has been consistently strong and there is every indication of that continuing during this period.