Noosa Market Report - April 2009

The Noosa Real Estate market continued along like most of the country this month, with the majority of sales in the bottom end of the market under $1 million.

 Holiday investment apartments continue to be difficult to shift unless they offer excellent value as there are less of the discretionary funds used for these types of purchases around at present. The top end of the market is moving, but very slowly, purchasers are paying up to $500,000 below the asking price. The number of properties available for purchase in the $2 million plus end of the market has built up to significant levels, indicating less buyer activity in the higher end, and sellers need to consider a new price or withdraw from sale.

 The residential market generally is more buoyant than earlier in the year and turnover has increased. Small investors are back in the market looking to buy well, and take advantage of low interest rates. Sales this month include luxury homes on the waterfront at Noosa Waters ranging from low $2 millions to low $3 millions.

 Sunshine Beach has been slower this year but we have secured a contract on a home in Whale Drive for just under $1.5 million, a similar price to those achieved 3 years ago. A home just sold on the high side of Seaview Tce for $2.2 million, listed at $2.4 million which was a great result.

Many local agents have gone towards auctions to move properties, while there has been some success, the percentage of sold properties compared to those auctioned and now unsold is rather low. A luxury apartment in Gympie Terrace sold at auction for $1.9 million, a great result in this market. Now is the time to secure a better positioned property in Noosa or an additional property at an exceptional price. If you're considering upgrading to a better position, there's no better market place or time than the present. Feel free to call the office on 07 5447 3855 if we can be of assistance.

Kind Regards

Dan Neylan

Director