Noosa Market Report - December 2012

The Noosa market continued to be strong right up to the Christmas break. The latter part of 2012 has proved far more active than previous years; turnover is up on average 40% for those months, a welcomed change.

The activity was generally across the board with the exception of holiday apartments which have remained a little slow. Anything in a quality location is selling well. This lift in turnover is a very encouraging sign that we have seen the bottom of the real estate cycle. This level of activity has remained for almost four months now, so we feel buyers are seeing value in the Noosa market and there is definitely pent up demand present.

We expect to see two or three waves of property come onto the market as sellers realise it’s a better time to sell. Many of these sellers are moving soon so they can trade up at current prices.

As this supply of property sells we expect some price pressure to surface. It is likely this will take most the year, with the benefit of a favourable result after a federal election and the accompanying boost in confidence it is likely next spring into summer will be the time when prices may move. This is crystal ball stuff, however based on how the market has responded in the past, it's an educated expectation, time will tell. 

Thank you for your business over the year, there has been ups and downs and 2013 is only likely to be better, our team here look forward to assisting you with your real estate needs. 

I wish you and your family a prosperous and fulfilling 2013.

Kind Regards

 

Dan Neylan

Director

0412 764 370