Market Report - July 2009

The Noosa real estate market continue s to strengthen as increased turnover begins to shorten stock levels throughout the town.

We are yet to see this convert to strengthening prices, however if current sales volume continues at the current rate it is possible we could see stronger prices in some areas of the town by the end of the year.

Noosa Sound sales continue to be sluggish as buyers and sellers haven't yet met common ground in this market place. Many owners have withdrawn their property from sale rather than sell at a lower price point than expected.

Noosa Waters has seen significant turnover with land selling as low as $1 Million on the waterfront, although these opportunities are limited. Holiday  apartment sales continue to be difficult and if sold are selling at reduced prices.

Being something of a luxury item for most buyers, there are less takers for this type of investment, forcing sellers to consider lower sale prices.

We are having some success selling Hastings Street apartments this month, securing a contract of sale for a Fairshore apartment on the beachfront and 2 Sebel apartments.

The middle residential market has been selling consistently, now realising a shortage of well priced stock with buyers waiting.

The opportunity to secure bargains seems to be waning, while there has been little upward movement, the good buys seem to be sold, with the exception of several properties in the very top of the market now offered at exceptional value. It is a good time to sell if other attractive opportunities have presented themselves, if priced correctly there are buyers now actively pursuing a purchase.

If we can help you with your real estate needs, please call the office.

Kind Regards,

Dan Neylan