Election time fails to slow market as Mooloolaba record set

Election time has long been considered kryptonite for real estate salespeople with confidence plummeting, but it's a theory one Coast agent has blown apart.

STOKED: Peter and Margaret Webb have just sold their Mooloolaba property for a record price (non waterfront). Picture: Warren Lynam

ELECTION time has long been considered kryptonite for real estate salespeople with confidence plummeting and uncertainty about the future.

But it's a theory one Coast agent has blown apart.

Ray White Mooloolaba and Kawana director and auctioneer James Goldsworthy, in his mid-30s, was prompted to do some digging after hearing for his entire career how elections killed the market.

The results backed up what he'd experienced. The brakes democracy supposedly put on deal making were a myth.

Data Mr Goldsworthy collated from the Coast's largest suburb, Buderim, over the past eight election years, showed four of the eight years had been stronger than the year leading up to the election.

James Goldsworthy of Ray White Kawana.

All up, 100 more sales had been completed in the eight election years than the combined total of each year pre-election. Since the election was called in March, across the Coast's eight Ray White offices, inspection numbers had spiked, from 2214 in March to 2774 in April.

Last month Ray White held 64 auctions, of which 34 had sold, and a record sale price for a non-waterfront home in Mooloolaba was also smashed.

Peter and Margaret Webb's stunning home at 26 Tombarra Street sold for $1.46 million on April 27.

The sale marked a downsizing for the couple, who this week bought a unit in First Avenue, Mooloolaba.

Mr Webb said despite the "doom and gloom” being spoken about property, they'd had no issues attracting interest in their property.

Peter and Margaret Webb have just sold their Mooloolaba property for a record price (non waterfront). Picture: Warren Lynam

"This area seems to be holding up,” he said.

The pair, in their late-60s, had six bidders registered at the auction of what had been their holiday home before they moved more permanently to the spot in 2008.

"Our place, that's not an investment property, that's a lifestyle property,” Mr Webb said. He believed the supply and demand for the owner-occupied market in Mooloolaba was keeping prices up.

"A lot of people are coming in probably around our age, wanting to put their feet up in Mooloolaba.

April sales

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Mr Goldsworthy believed people had been pre-programmed over years of messaging to just believe election time was a bad time to do business. "Some people just use it as an excuse,” he said. "Despite there being some very property-specific policy changes on the table at this election, this has not resulted in a lack of activity.”

He said it had actually proved a good time to be selling, as other vendors baulked, while cashed-up buyers remained active.

Effectiveness of political messaging may have played a role in the continued activity in the market, despite the negative gearing fear being whipped up in some parts.

University of the Sunshine Coast senior lecturer in politics and international studies Dr Shannon Brincat said the election process might be giving people a sense of stability when they voted after seeing so many leadership changes.

USC senior lecturer in Politics and International Relations Dr Shannon Brincat. Picture: Contributed

"Australians have become very used to leadership turmoil,” he said.

He said the major parties were finding it harder to capture the middle ground and younger, more engaged voters were more averse to scare campaigns.

Commercial property valuer Jaydon McDowell, 27, and his partner recently bought a home in Nyes Crescent, Buderim, for about $700,000 at auction.

Mr McDowell said they'd bought the property as a long-term home, not an investment property, so the negative gearing discussion hadn't affected their decision too much.

He said Buderim and the Sunshine Coast markets were "solid long-term” and he felt some of the media hype and political messaging around negative gearing had been exaggerated. "It definitely scares people, that's for sure,” he said.

GREAT DEAL: Cherie Ellis, right, bought her first home in Parrearra at auction in April. She's here with her partner, Daniel Peyre. Picture: Contributed

Human resources worker Cherie Ellis, 29, bought her first home in Dotterel St, Parrearra a few weeks ago.

She'd been scouring the market for more than six months, having shifted from Brisbane just over a year ago.

She said the negative gearing discussion had caused her to rethink her plans a little, but she went ahead with the purchase as she planned to live in the home long-term.

Originally published as Election time fails to slow market as Mooloolaba record set