Noosa Market Report - February 2010

February was a good month for sales in Noosa.

Most of the action took place in the middle market bracket of $500,000 to $800,000. Sunshine Beach finally saw some action with two large homes selling in northern area well over $2 million after spending months on the market.

Auction success was patchy with some properties selling at auction and others passing in to be negotiated later. A home at 11 Bayview Road, Little Cove sold at auction in the $1.8 million range after being for sale at well over $2 million for over 18 months.

Interest rate rises are not likely to have a negative impact on us. In fact they are more likely to give buyers in the top end of the market more confidence that the economy is going well and they can go forward and secure their piece of paradise.

The last week of February started the onset of rain and it hasn't really stopped since; at least the surf is good. We expect to see more of this type of activity through to spring.

The current real estate climate is best described as a market bumping along, buyers are still very price driven. This will change in time as we benefit from the flourishing markets in Melbourne and Sydney.

If you would like any further information, please feel free to contact me on 5447 3855.

Dan Neylan

Director