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Welcome to the Gold Coast Smart Real Estate Podcast—the ultimate guide to navigating one of Australia’s most dynamic and competitive property markets. Hosted by Brad Scott, Principal of Smart Real Estate with nearly two decades of experience, this podcast is your trusted resource for making smarter property decisions.
Whether you're buying, selling, investing, or simply wanting to stay informed, each episode delivers practical advice, innovative strategies, and expert insights tailored to the unique Gold Coast property scene. From market trends and maximising investment returns to insider tips for selling your home quickly and for top dollar, Brad covers it all.
Hit subscribe and join the community of "Smart" Gold Coast buyers and sellers transforming their real estate journeys. For more resources, visit www.smartrealestate.com.au or connect with Brad on Facebook, YouTube, and Instagram. Your next smart move starts here!
Welcome to the Gold Coast Smart Real Estate Podcast. I'm Brad Scott, here to help you make smart moves in the Gold Coast property market. Whether you're thinking of buying, selling, or just staying updated, we deep dive into everything you need to know, from our market insights to our unique open offers method of sale.
A blend of auction and private treaty to give you the best of both worlds. Let's jump in.
📍 Hello and welcome to the Gold Coast Smart Real Estate Podcast. I'm your host, Adam Bell, it's a perfect time to reflect on what's happened in the Gold Coast property market and Maybe have a look forward to what might be ahead in 2025. Now, joining me in the studio is the principal of Smart Real Estate, Brad Scott, who's been keeping a close eye on all the trends this year.
The challenges, the opportunities in the local market. Brad, welcome back. Thanks, Adam. Great to be here. Fantastic. Okay. So in this episode, let's review the key trends in the Gold Coast property market, including maybe supply, demand, pricing, migration, interest rates. There's a lot to unpack, isn't there?
There is. Alright, well look, can you maybe just start by giving me a bit of an overview of how we've seen this year go in terms of the market? Yeah, so look, at the start of the year, I think what we found was there wasn't much stock available across the Gold Coast. So I think that's been for a while now, hasn't it?
Yeah. Sort of since COVID really? Yeah. Well, this year more so than other, it's probably, in my 20 year history, it's probably the lightest on listings I've seen. I saw a stat, I think, um, listings were down, uh, around 49 percent of what they were five years ago, at the same time of the year. So, That's been a big, issue for agents, unfortunately, because we don't have, we didn't have the stock or the properties to sell people.
On the demand side, the first half of the year, demand from buyers was still relatively strong. I think there was a, a big cash reserve there that was still flowing on from. All the incentives from COVID. Sure. And, so we were, with all these straight increases we, experienced last year in 23.
We're expecting the market to sort of slow down and probably prices to drop in 2024. But what we found was in most areas, property prices were pretty stable. Even increase in some areas. And I think that was mostly, predominantly from a lack of supply. So the demand was down a little bit, but the stock supply was down drastically.
So it was less. Slightly less buyers looking because of the increased interest rates, but, the amount of properties that were available were drastically, reduced. So we had those buyers looking at a lot less properties, which then, I guess, created more competition, which kept the market quite healthy and stable and buoyant.
Yeah. Then going into the second half of the year, What we found was, a big shift, so I was actually telling the team, that I was expecting a lot of properties to hit the market in September. And, just to hold on. So, and yeah, September 1 came, and that's when we go into what we call, September 1.
Spring sales. So most agents, will sell more in the September, October, November, December quarter than what they will in the other three quarters. Right. In total. Yeah. In the lead up to Christmas. So, and a lot of sellers understand this and they put the houses on the market, you know, as part of that.
So one of the things that we have done started to see, was a substantial amount of properties hit the market from September onwards in 24. Okay, so supply has increased? Dramatically. Dramatically? Dramatically, yeah. So, you'll see now, like I, I talk to buyers and sellers, obviously every day, and I'm getting a lot of people commenting that they're starting to see, you know, I was talking to client yesterday.
She said, Oh, there's five for sale boards in my street and she hasn't seen maybe one for sale board in the past few years. Wow. So all of a sudden, so I'm finding that people, financially, financially struggling struggle a little bit. There's a little bit of uncertainty in the market with what's going to happen with interest rates.
I think in the media there's very differing opinions on what's going to happen. We've got an election coming up next year, which may influence it. That's one thing I've never understood, to be absolutely honest, Brad. I've never understood why elections actually, nothing changes, generally speaking, but our attitudes do.
That's all that seems to happen, but we do have one coming. So I think, like, my background, I'm an economist. I have got a university degree in finance. I used to be a business banker with the National Australia Bank. So I probably look at things We won't hold that against you. But Yeah, so some of the things I look at, sort of as an economist and a real estate agent, is looking at trends and looking at what's happening moving forward in the sort of the macro, you know, what's happening.
Definitely with elections. We have some sellers sort of talking about holding off until after an election to see what the result is. I'm in the same camp as you. I don't think it really makes a huge amount of difference, but it affects everything. It doesn't retell that the works. Yeah. So it can definitely affect consumer sentiment and confidence.
Sometimes there's, you know, bigger things at play that, maybe the general public don't know or understand. Sometimes, with, like, interest rates at the moment with the Reserve Bank, you know, with, if we took out, immigration, and if we took out, the, public, spending on public jobs.
We would technically be in a recession right now. So we've sort of been artificially Yep. Kept up, propped up. Yep. Propped up. And, you know, obviously the, labor government going into an election year next year, they want us to obviously not be in a recession. And then you've got the RBA on the other side who, probably should be, all being equal, probably putting interest rates up a little bit more.
But there's talk of them coming down early next year. So, and that kind of has an inflationary effect on what they say and do. And so I think for everyday punter, it's really hard to sort of look through the fog and work out really like what's happening. What's real. Yeah, there's a lot of spin, that goes on in, in government and, The media.
Yep. To drive, you know, clicks and, keep people happy and positive and, the real numbers sometimes don't always show, show that. So. Yep. We've seen a, a big increase in, stock over the last, you know, especially two, three months and, which is good 'cause there's been a massive shortage. Yep.
And, on the demand side, since, September, we've seen buyers really. And they're definitely being more cautious when buying real estate. So, I guess we may see property prices drop down a little bit as we go into next year. You feel as though that's where it's headed? Yeah, yeah, it's It's been a very strong market.
We've had massive increases since COVID. Yeah, we, the Gold Coast market has been for years, for like sometimes a decade, I'd have clients from Sydney, Melbourne, say, Brad, the Gold Coast is dead. We've had this property for 10 years. It just hasn't gone up in value for 10 years. So I think, post COVID, we had this massive run up, in values.
And we're sort of now sort of starting to taper off a bit, and I think it's obviously not sustainable long term. And I think we're just sort of catching up to where we should have been on that long term trend. We were sort of going sideways for a bit. We've had this massive run up, and over the long term.
Average that's probably where we should be anyway. Sure as long as sellers and buyers understand that, you know, we're probably not going to see that rate of growth that we have over the last few years because It'll still you know be positive over the long term, but we might see a bit of a pullback in the next 12, 18 months.
Sure, sure. And just talking a little bit more about interest rates, they've been on hold this entire year now, haven't they? Yeah. It doesn't actually feel as long as it has been, but, I see it was just, Just the other day I saw that, economists, well, a lot of people thinking it might, that the first drop might come in that February, but most are saying the one after that, and the banks are saying the one after that.
Yep. What's your take on where they might head in, and look, we know it's anyone's guess, really, and, like you said, the, there's plenty of smoke and mirrors when it comes to it as well, but, what do you see happening and how do you think that will affect the market? Yeah, so a lot of economists are sort of predicting that we may see an interest rate drop or two, probably starting as early as February or March next year.
Personally, I don't think we'll see that. I think it'll be a bit longer. Yep. So it might be more April, May. So economists are, you know, not great at predicting the future with interest rate drops and increases. So, I think as we see, obviously, interest rates decrease, you'll see a spur of demand.
And it'll give buyers the confidence to sort of go back in. Because at the moment, you know, There's a bit of uncertainty about what's going to happen next year and buyers are being a little bit more cautious once they get that, that telltale sign from the RBA, that'll, I think, increase consumer confidence and, lead on to another, you know, increase in real estate over the 2025 year.
Sure, sure. What about, You know, market segments this year. Have you seen any particular differences or trends, you know, throughout luxury homes or family homes, or obviously being on the Gold Coast, apartments are a big one. Yeah. So they're all different markets, obviously, buying and renting and whether you've got housing, apartments and the top end luxury.
Do they follow the same trends? No, they don't. Wow. Yeah. So. There's usually big differences in, demand and stuff. So, we've had a few, apartment sales this year that were probably a bit weaker than I was expecting. You expected, sure. Especially the, in the higher end properties in the last few months, since September onwards.
We've seen a bigger pullback in those properties. Yep. Which you would normally expect. The lower end stock obviously is, more competitive still. Because you've, we're finding people are starting to, even the top end, we're starting to see people downsize, try and decrease their cost of living.
Yep. That's a big cost of living pressure at the moment. It's a big, thing. Huge. So we do a lot of prestige rentals, also smart real estate. Yep. And, Junko, our senior property manager, she's, we do a lot of properties in that 000 per week price bracket. We've been doing this for almost 20 years.
I haven't seen, a pullback in that prestige rental market especially, during that whole time. The top end of town in, expensive rentals, we're seeing a bit of a decline. And that sort of is flowing onto the cheaper priced rental stock. So, people are going from the big waterfront mansion, down into maybe something that's on a dry block.
People generally are still, the majority are family homes. You know, the, if you've got a three or four bedroom house on a good block, waterfront or dry, you're generally okay. Your smaller apartments are sometimes a little bit harder to sell and rent. And on the higher side too, so your prestige, luxury properties.
Again, some people are just being a bit more cautious with their. With their dollars these days. Yep. Nah, look, makes sense. All right. So, as we, as we move into, to 2025, give me, your, Your one bit of advice for both a seller and a buyer. For sellers, if you're thinking about selling probably in the next 12 months, I think the sooner you do it, probably the better.
Yep. Simply cause I think we'll see a bit of a pullback in prices. So. And the increase in demand, as you said. Yeah. Increase in supply, should I say? Yeah. So as we see, I think we'll see more and more. Probably see at the market, especially in the first half of 25. Yep. I'm having quite a few conversations at the moment, unfortunately, about, people separating and divorce.
So those people are generally, I guess sort of highly emotional, but less emotional about selling. They just want to get it sold and move on. Which, you know, they're not hanging out for the best price. Sometimes I just want a quick exit. Yep. So as we sort of go into the first half of next year, I think we'll see more and more properties hit the market.
So from a seller perspective, hitting the market in January or February might be better than sort of mid year. Yep. And then for buyers, Still great properties out there. We don't know when the market's gonna bottom out. Of course, no one does. The only way we know it's bottomed is when it actually turns and goes back up.
Yep. Then you can look back and say, oh, that was the bottom. That was there it was. Yeah, so the market, the good news for buyers is we'll probably see some good returns. Really great deals over the next sort of 6 12 months. Yep. So for buyers, another thing I'd probably say is don't wait. Everyone tries to pick the bottom.
Yep. It's like trying to pick the bottom of, you know, crypto is very popular at the moment and we're seeing them at all time highs and they're sort of pulling back and going up and same with stocks, whether it's real estate or whatever asset class it is. I always say, look, if it's a property you like, you think it's in a good area.
It's got good capital growth potential, something that someone's going to want 5, 10, 20 years from now. If it's at a good price and you like it, pull the trigger, make a decision, buy it. You might not get it at the absolute rock bottom, but you know, if we see a pullback in prices and you buy it here, Yep.
and it goes a little bit cheaper, but then takes off in 10 years when you're selling it for twice as much. You know, who cares whether you. Whether you say 10 or 20 grand in the short term. Yeah, yeah, makes sense. Alright, well look, before we finish up Brad, if you had to sum up 2024 in one sentence for the Gold Coast property market, I'm putting you on the spot here, one sentence, what would it be?
One sentence, tough first half of the year for as agents and, getting much better in the second half. Fantastic. Alright, well look, Brad, thank you so much for breaking down this the fascinating year in the, in the Gold Coast property market. Your insights, as always, are invaluable and I'm sure our listeners are, are feeling much more prepared for what's ahead in, 2025.
So to our listeners. If you are planning to buy or sell in 2025, Bradley's team at Smart Real Estate are here to help. www.smart realestate.com au is where you can get in touch for expert advice and tailored strategies to make your property goals a reality. So thanks for tuning to the Gold Coast Smart Real Estate Podcast.
Don't forget to subscribe and we will see you through. Out 2025 with a new episode dropping every week with more tips and insights to help you navigate the ever changing world of real estate. Thanks again, Brad. Thanks, Adam. See you on the next one. Thanks for tuning into the Gold Coast Smart Real Estate Podcast.
Remember, if you think you're selling, you're selling. Be smart. Explore your options and consider the power of open offers method of sale to maximize your result. Don't forget to subscribe so you never miss an episode. And if you found today's insights helpful, feel free to share with a friend. Until next time, happy house hunting.