Business sales in 2014 on the Coast, has started in the same fashion as 2013 finished, with a flurry of activity. We have seen a huge influx of new buyers in the market looking to secure a future for themselves and their families alike. As always the Sunshine Coast is a major attraction for people from all walks of life and from all over the world, with one common goal, to call the Coast home. With potential relaxation on the 457 visa requirements, once again we are going to be inundated with expats looking for a better life.
With great weather, more holidaymakers throughout the summer months, the Coast once again has been a hive of activity, with many retailers and restaurant owners breathing a huge sigh of relief. Not only are they the ones that benefit, the knock on effect is huge. The Coast is also beginning to see the benefit of our own version of the ‘mining boom’. With the amount of construction taking place throughout the coast and the ever expanding medical precinct we are seeing more families moving to the area. We are also finding many people currently working in the mines, who are now ‘over it’, that are looking for a change and want to permanently live, work and play on the Coast.
The supply and demand situation isn’t easing, currently across the Coast there is a supply and demand crisis. Agents are dealing with a number of pre-qualified buyers, who are organised and ready to purchase. The market is really tight at present and there just isn’t enough quality businesses coming up for sale to satisfy this demand. Of late, there have been a number of ‘off the market’ sales, which has resulted in days on the market decreasing significantly. Good working relationships have been forged with buyers out there, and through high levels of communication, buyers are putting their trust in agents. When we find a great match for them, they need to look at it, before it hits the market and before the exclusivity on that opportunity has passed.
Is it a good time to sell? It’s a fantastic time to sell, there are plenty of genuine, realistic buyers who are out there, waiting for the right opportunity to present itself. If you are considering selling, at the same token you also need to be genuine and realistic. Good prices are still being achieved for good businesses, with proven track records and strong bottom lines.