Noosa Market Report - August 2011

I continue to be amazed at the resilience of the Noosa market. Despite terrible economic news overseas last month sales continued to increase, although patchy throughout the Noosa area.We sold three waterfront homes at Noosa Waters at $1.1 Million, $1.5 Million and well over $2 million.

Residential middle markets started to kick again as government incentives take effect.The holiday apartment market continues to offer the best value. The standout properties are being snapped up by savvy buyers. Examples include a three bedroom Gympie Terrace apartment over looking Noosa River that sold under $900,000. This property would have fetched $1.5 Million at the peak of the market.

News of two luxury apartments in the off-plan development on the Main Beach (Sandpiper) sold for $14 Million, proving you can't deny position does stand solid in all market places. Little Cove was quiet for the month, as was Sunshine Beach despite a lot of new stock coming onto the market in that area.

There are in excess of 80 auctions scheduled for this Spring across town. I expect the buying will be good and an enormous amount of buyer interest will be generated.

We keep saying it, but there is little doubt Noosa has become affordable again for many that thought themselves priced out.

I have no doubt those purchasing now for the long term will be the new made millionaires of the future. I encourage all our clients to consider an upgrade or additional purchase now while the buying is good.The sentiment is changing; property is in the investor's sights as the share market volatility continues.

At the end of the day you can't go past bricks and mortar - you can touch it, see it, drive past it each day, rent it and enjoy it yourself. Owning property in Australia's premier resort town is the perfect property choice.

Kind regards,

Dan Neylan

Director
 0412 764 370