MARKET REPORT - APRIL 2007

April has been another busy month for real estate in Noosa, certainly for Dowling & Neylan with 14 sales amounting to just under $13 million in sales volume.

Where are the sales happening?

Hastings Street is seeing some activity in French Quarter, albeit at very low prices. The beachfront is tightly held and prices continue to harden.

Little Cove houses and units are selling at strong prices and there is very little stock available. If the price is right there seems to be 2 or 3 buyers chasing the same property.

On Noosa Sound there was a new home in Witta Circle reportedly sold for around the $7.5 million mark which is a record price for Noosa Sound and more importantly, shows buyers will pay for quality. The biggest problem is most of the stock on the Sound are knockdowns.

Noosa Sound waterfront apartments have seen a spate of sales this year with the exception of Culgoa Point which we believe is now looking very good value against its more fanciful north facing counterparts.

In Noosaville the higher end duplexes are still very slow in selling.

In Noosa Waters waterfront five waterfronts have sold, including two vacant blocks.

Whilst there appears to be a fair amount of stock available anything that is regarded as good value is selling. Unfortunately a number of properties are still overpriced in this market.

Peter Dowling