MARKET REPORT - SEPTEMBER 2006

The Noosa market has been more subdued in August, following on the heels of a brisk July.

Sunshine Beach is still the tightest market along with Little Cove. It's been reported half a new duplex has sold in Duke Street, Sunshine Beach for $1.5 million, a few minutes walk to the shops and surf club, however it doesn't have any views.

Last month I reported we sold an older beach home opposite the beach in Sunshine for $3 million. This home previously sold in November 1994, some 12 years ago for $555,000 which represents an overall gain of approximately 500% over that period once again proving that with real estate, it's the time in it that really brings the rewards. I doubt there would be many examples of gains in other areas including capital cities to rival this sort of growth.

In other areas a large 400m² home close to the beach but no views and a very specialised home in Little Cove reportedly sold for $2.6 million.

In Noosa Waters after a flurry of activity there are no reported sales in August and plenty of property to choose from. Prices here for waterfront homes range from $1.5 million to $5 million with the majority of property in the $1.5 million to $2.5 million range.

Noosa Sound has been relatively quiet and we are seeing a few more waterfront units come onto the market, particular in Culgoa Point.

The Hastings Street unit market has also been quiet with few sales reported.

The next 3 or 4 months are always a busy period with more visitors to the town and sales activity increases significantly.

Interest rate increases and elections always slow buyers up for a few weeks while they digest the news and then tend to get on with their commercial lives.

Peter Dowling