Noosa Market Report - January 2011

What a Summer we've had, flooding all over the state, cyclones up North and yet Noosa keeps selling.

Okay, we haven't had the bumper Summer we expected but sales were consistent, especially under the circumstances. Noosa was spared all the devastation and at present the town is perfect, the beach uncrowded and the waves are good!

There were several auction promotions run over January by several Noosa real estate firms - we were one of them, preferring to run our auctions on site rather than in rooms. We enter into these campaigns hoping to sell on the day - cash buyers certainly have an advantage - but really expecting to sell shortly after auction, as many of our buyers are interstate.

Results were good with several companies reporting at least 50% of their auctions sold by auction or shortly after. I am sure more sales will follow. We are verging on three of the seven properties we took to auction now going under contract. We don't mind if it takes a couple of weeks after auction to secure a result. I would rather spend a little longer to achieve a satisfying sale price than rush a sale.

A beautiful house on Noosa Sound in Wesley Court sold for just over $5 million, proving the top end will sell if the price is right. We contracted a house on the waterfront in Noosa Waters for just under $2 million - an excellent amount for that property.

We sold several lower priced holiday apartments in the $400,000 to $600,000 range - this segment is showing excellent value at present and it's not surprising to see action on this type of Noosa real estate. If you are looking for a value for money holiday apartment to come and use in Winter, now is the time to act.

The residential market under the million mark continues steadily despite plenty of competition, and there is plenty of choice for buyers - we sold three homes in this range in recent weeks, one shortly after auction.

Waterfront land is currently offering just a few excellent opportunities, we currently have a waterfront block on Noosa Sound listed in the $1.8 million range and a North facing waterfront block at Noosa Waters listed for $945,000. These prices haven't been at this level for years and its unlikely we will see to many properties offered at this level, so be quick.

While no one expects a glamour year this year, we are expecting it to be an improvement on last year, as last year was an improvement on the previous year. I am sure a gradual improving market can only be viewed as the beginning of an upward cycle.

King regards,

Dan Neylan
 0412 764 370