Issue 18 | Reading the Signs as Spring Gains Momentum

Andrew Bell Market Update 2026 | Issue 18

Hi there. Andrew Bell with you once again. Two quick things today. First. People are constantly clamouring for the latest signposts in the marketplace.

As I’ve mentioned on many occasions, Ray White is the largest real estate company in Australasia, selling more properties than anybody else. We also have a huge research team headed up by Australia’s most quoted economist, Nerida Conisbee, and talks all things real estate. That research team keeps its finger on the pulse daily, but it’s always particularly interesting to see the statistics that have been consistent over a period of time.

Now, over the past three weeks, we’ve seen an upward trend in the number of people attending open homes nationwide. Our auction success rates for property selling under the hammer has also been on the rise each week during that period of time, and very interestingly, we’re seeing the return of investors into the marketplace.

At our own auctions last week, we sold a Varsity Lake home for $170,000 over reserve at $1,420,000. That’s an incredible increase. And then last weekend we had an apartment, we had six registered bidders, and that sold under the hammer at $1,335,000. Pretty active market by any measure.

Now, that’s not quite the set of statistics or results that so many of the negative dooms days have been touting out there in the marketplace. But let’s keep watching the figures as we move along and see what those trend lines are. I’ll keep you informed.

Now, as we know, spring is one of the strongest selling periods of the year following the mid-year slump, where everyone sort of goes to sleep a bit. So we’re going to be fascinated to see how all of that increased buyer activity surfaces during the spring season.

Today, I also wanted to point out, or highlight a note of caution for those buying in older apartment buildings.

Age is not necessarily the determining factor whether buying an older property is on or off. We still go and visit lots of old properties all around the world, and we see historic homes where people are paying in premiums, homes that are more than 100 years, sometimes 200 years older. So it’s not just about age.

And even here in Queensland, we have homes like federation homes that are highly sought after. And then other places that might be those beautiful old historical terrace houses.

However, when it comes to apartments, buyers should now be more cautious than ever when buying an older building.

The Gold Coast is renowned for its high rises, with a bulk of them built between Main Beach and Broadbeach. As the Gold Coast attracted more people back in the 60s, 70s, 80s and 90s. Most of them are holidaymakers, and increasing numbers of those holidaymakers wanted to own their own place rather than staying in a hotel. They want to be close as they could to the beach.

Apartments were the preferred option for them, where they could simply lock it up when they’re not using it themselves. Or as was the case for so many people, they would just holiday let them.

There was almost insatiable demand for properties along our golden strip.

Now, developers in the 60s, 70s and 80s understood that the greatest demand was for low cost, basic style apartments close to the beach. And that’s exactly what they built.

Now, 60 plus years later, the effects of living almost on the beach front are taking their toll. Unless buildings were exceptionally well built and importantly, maintained year in and year out over those decades, we’re seeing some significant issues emerge.

For many of these buildings, windows have to be replaced. Balcony railings need replacing. Lifts have had their finite life span and they need to be replaced. All the facilities need to be upgraded and so on.

For some buildings we’re talking about multi-million dollars worth of expenditure. And if buildings aren’t properly maintained, there’s also a risk of insurance becoming difficult to obtain, along with serious workplace health and safety issues.

Now, many buildings from that era have been spectacularly maintained and renovated over the years and remain an exceptional high standard. But how do you know the difference?

Apart from the obvious visual signs, when looking around the building, it’s critical to do a deep dive into the body corporate minutes.

It’s becoming a big, complex issue for many owners in these buildings. Many are older people who no longer have the income or savings to allow them to pay special levies, which sometimes could be anywhere from $100,000 to $150,000. Amounts that are just not uncommon when it comes to major works and big buildings.

For many, it means they’ll be forced to sell. Yet they’re selling at a time when their apartment is competing with so many other buildings, newer or extremely well maintained buildings. And that’s where the majority of buyers will naturally gravitate to, meaning they’re going to be under pressure price wise.

So a heads up for anyone in a building that’s 50 years or older. Make sure your building is maintained at the highest possible standards.

It’s far better to have some time up your sleeves and to undertake maintenance over a five or so year program of works, then to suddenly be faced with a one off expenditure to get everything done immediately.

Active body corporates in these buildings shouldn’t be focused on avoiding maintenance costs. They should be proactively undertaking the maintenance required to protect the asset of every owner in the building. That’s why you need to study those body corporate minutes.

A heads up to buyers as well. Don’t simply look for complexes where body corporate levies are low, because the buildings in those situations so often are not being properly maintained. Look for buildings where maintenance has been continuous, where there are healthy sinking funds to undertake regular maintenance and upgrades. Low body corporate levies more times than not means potential problems.

Finally, what a fabulous day we had that this year’s Ray White Bell Group’s Next Top Dogel. It’s now captured national attention with live crosses to both the Channel Nine Weekend Today Show and the Channel Seven Sunrise.

Among 350 plus dogs who participated in so many fun ways on the day. We have people traveling from Northern New South Wales all the way to North Brisbane to be part of it that day. It truly is one of those wonderful community events, and we’re so proud to hold it each year. It continues to grow bigger and bigger by the year.

Thanks to everyone who volunteered in one way or another to make such a success of the day.

And finally, our last call to anyone who’d like to be part of our annual Ray White Bell Group Spring Auction, we’re bringing the resources of the largest real estate company in Australia to help you ride the spring market, achieve the best possible results during this important selling season, and ideally before the Christmas sets in and you’ve got a few dollars in your pocket for that.

For more information, call the Ray White Bell Group hotline on 1800 198 009.

I’ll be with you in a fortnight’s time.