Market Report - October 2008

  Noosa hasn't been immuned to the effects of the current uncertainty in the real estate market. General enquiry rates are down across the town as are sales. This is creating great opportunities to buy really well or secure well located properties that don't usually come onto the market. Recent examples of this are the sale of two waterfront homes on Noosa parade, both homes sold in the mid $5 million to $6 million range which was very good buying considering the size of both homes and testimony that, well positioned property will sell in any market if the price is right.

There is currently a cottage on the market north facing over Main River for $5.7 Million.

Apartment sales have been slower again creating great opportunities to buy really well we expect to see several sell over the month as several owners have adjusted prices to very attractive levels.

We are just starting to hear from the investors as cash deposits become less attractive, some sellers are reducing their prices, encouraging investors and there is a general expectation that interest rates will fall again further stimulating the real estate market.

We expect the interest from buyers that has started as a trickle will become a flow as we come into summer and all the really good buys will be snapped up with some reasonable turnover returning to the market.

This turn over or sales evidence will bring confidence to buyers and will help to improve turnover in the long term.

There's a time to buy in real estate and a time to sell now's the time to buy while there's less competition and the great properties are there.

Kind Regards,

Dan Neylan

Director