MARKET REPORT - JANUARY 2008

During the final weeks of December several sales were completed as buyers secured their final purchases prior to Christmas. Sales of note include: A waterfront home sold in Noosa Waters for  $4.2 million and we sold a new  partment the back streets of Noosaville for just over $1.3 million  with no views. A home in Allambi Rise, Little Cove sold in the high $2 million range and was one  of only 3 homes that became available in this tightly held market  place.

The week from Christmas to New Year is traditionally quiet before the January selling season begins and the town experiences a huge increase in activity. Being the end of the year I felt a brief wrap up of this years activity is in order.

The Noosa market performed well over the past year but has only just begun to feel the impact of buoyant southern markets. Record sales occurred on the waterfront at Noosa Sound with luxury home sales now well in excess of $7 million. The apartments on the waterfront, particularly around Noosa Sound have been selling well, ranging from $800,000 to over $1.3 million. Noosa Waters had its share of record sales for both land and luxury homes, now tipping $6 million. Sunshine Beach beachfront is now selling for well over $7 million when available and any well positioned property priced within reason is selling swiftly. The middle market in Noosa Heads experienced high turnover with over 100 homes selling over the past twelve months.

Noosaville is the area to watch sales of luxury apartments continue to climb as each new development is completed and sold. Several new developments in town have been soaking up buyers through off the plan sales, the Settlers Cove development is a perfect example with the first two buildings albeit sold out and long lists of expressions of interest for apartments in the next building River Light, prices range from $1.6 to $3 million. The Sanctuary, a new development fronting onto the river system on Noosa Drive, Noosa Heads has also successfully sold the majority of its holiday apartments consisting of mostly one and two bedroom apartments.

There are still large luxury town houses and homes available that can be holiday let or permanently occupied The Viridian Noosa Development has also reported consistent sales of their one and two bedroom apartments which are now being buoyed by the establishment of their new sales display onsite in Morwong Drive. If we continue to experience buyers moving north from southern states it is likely the coming year will be as prosperous, giving owners that solid capital growth we have a deep appreciation for.

For more information on a particular area please contact our office on 07 5447 3855 or info@dowlingneylan.com.au.

Kind Regards

Dan Neylan
 Director