Noosa Market Report - January 2013

January was a great month for Noosa - the streets were full of visitors enjoying the good weather, the beach and the great food. Also I am told the retailers had a great summer which was very badly needed.

Real Estate was quiet for the start of the month after a great finish in December.

It is normal to see a slow start in January, but the last weeks of the month didn't let us down and for a fourth consecutive month we have experienced a significant increase in turnover.

Our sales included a house in Mitti Street Little Cove for just over $2 Million, a Noosa Harbour apartment for $1.2 Million, a waterfront home at Noosa Waters for $1.45 Million and another for $950,000.

There were a number of residential home sales in the $400,000 to $800,000 and this segment of the market remains very strong.

We are negotiating several sales over the 3 million mark at present; - it is pleasing to see the action translate into the top end of the market as well. Prices being achieved are in line with previous results, an important point.

So while we are benefiting from increased turnover, this hasn't translated into upward pressure on price as yet. But the pressure is there, we are feeling it, supply is tightening slowly and, if this continues, we could find ourselves witnessing lifts in price before the year ends but time will tell.

If there was ever a sign of a market coming off the bottom this scenario is it.  We are not suggesting a quick upswing but if you are considering buying now I would take action in the next 6 months.

If you are considering selling there are more buyers about now, but if you are looking to achieve a higher price than the market is paying you will need to wait at least 12 months if not 24 months to realize a significant increase, all things going well.

I suppose it’s a case of  'Steady Tiger, don’t get excited just yet'

Kind Regards

 

Dan Neylan

Director

0412 764 370