Market Report - December 2009

It's been one of those years in the real estate market when fortunes are lost and for the brave, there's potential for fortunes to be won.  Like many areas of Australia we witnessed property values adjust in some parts as much as 20% and turnover slow to a crawl.  From mid year things began to look up with increases of turnover starting to eat away at an over supplied market. Prices achieved were at lower levels but at least we could see where the market was at and be able to advise people accordingly.  

 During that time there was the odd record sale that bucked the trend and reminded us that Noosa still offered the very special allure.  Several properties in prime locations became available for purchase at very good price points and buyers snapped them up.  We approach the end of the year with properties selling in the new price scale set this year and as yet there is little solid upward movement in values.  

 Some market places are showing signs of stock shortages and turnover continues to be solid as confidence returns. Interest rate rises, while loathed by some, gives confidence to others that our economy is underway again.  If the tightening of available property for sale continues there will definitely be upward pressure on values over the New Year.

 It is still a very good time to purchase in Noosa and take a long term view to capital growth.  It is unlikely that a better time will surface in coming years.  If you're considering upgrading your holding now would be the time to do it before the upper end of the market place experiences the same level of activity seen this year in the bottom and middle sectors.

 All the best for Christmas and the New Year, if you are visiting town please drop in to say hello.

If you would like any further information, please feel free to contact me on 5447 3855.

Dan Neylan

Director