MARKET REPORT - AUGUST 2006

There's been a run on residential housing property in the last few weeks with a number of sales in the $500,000 to $800,000 range. A number of buyers seem to be feeling now's a good a time as ever to come into the market.

Bear in mind this part of the market has been very subdued for nearly 3 years. our office has sold 5 homes in this range in the last few weeks, one in Sunrise Beach, three in Cooloola and one in Noosa Waters. We're not the only agents making sales in this category and it's pleasing to see the buyers returning.

The top end is, as usual, still bounding along quite healthily, with a reported sale of a Hastings Street apartment for in excess of $8 million by one of our competitors. Congratulations to them on such a fantastic sale.

We have sold an older home in Sunshine Beach close to the beach for around the $3 million mark and there’s been four good sales of waterfront homes at Noosa Waters for just under and just over the $2 million mark.

Further south there's been a new home sell on the non beachfront side of Lorikeet Drive in Peregian for around the $2.3 million mark and a riverfront apartment for $2.1 million.

In summary, stock is still tight in beach areas, still plentiful in the residential areas, tightening at Noosa Waters waterfront.

Peter Dowling