Market Report - November 2009

The Noosa Real Estate market continued at a steady pace again this month.

 It's interesting to note of the 10 sales we have had this month they were all under $1 million, while we have fantastic value luxury homesand apartments unsold. This illustrates the patchy nature of the market at present but if enquiry is any indication we hope to see more action on the higher priced property over the summer break.

 There was some press a few weeks ago about the large developments in the town struggling to sell their product. This doesn't really reflect the greater Noosa marketplace however we have seen some of these developers reduce their prices from levels I feel offered grossly overpriced product. We may see more turn over now these apartments have been priced to reasonable levels.

 There have been a number of auctions of quality property around Little Cove and Noosa Sound. A home high on Bayview Road sold close to $4 million; another older cottage located in a prime Allambi Rise position overlooking the beach was passed in at auction. The apartment at 80 Upper Hastings Street we took to auction passed in on the day. We have 3 buyers flying up to see the property and hope we will close the sale with one of them. Most buyers realise the bottom of the market has come and gone and are slowly returning to the market place.

 There are still some great buying opportunities with more talk of owners upgrading their position while the stock is available.

 It's been a tough year for many people; I hope you all enjoy your summer break and thank you for your continued support.

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

Dan Neylan

Director