Noosa Market Report - July 2010

The Noosa Real Estate market continues to steadily perform with some action in the top end of the market this month. There has been a home sold in Witta Circle in the mid $3 million range with a deep water, main river location overlooking bushland. This is one of the original homes so the majority of the purchase price is land value. Two waterfront blocks on Wyuna Drive have reportedly sold in the high $5 million range, again a very good result in the current market.

Holiday apartments have performed as well, with a lower apartment in the Noosa Crest building on Noosa Hill selling at $1 million an excellent price for that position, the owner should be very happy with that result.

A vacant block of land sold in Northern Sunshine this month, one of the few sales of vacant land this year in Sunshine. Again a good sale price was achieved in the mid $1 million range.

These sales, and several others last month in the top end of the market, are testimony to the strength of the Noosa market place. Many long term owners in Noosa are recognising real value and are moving to secure the prime property at excellent price levels.

These seasoned Noosa owners will again be the big winners over the long term, already we can feel confidence returning to the market and activity levels improving. Momentum can be an amazing factor as markets improve and the herd mentality, so often seen when the public all decide to act together, kicks in.

I have seen it several times in Noosa - it's as if somebody rings the bell and everyone is here at once. Unlike our capital cities, Noosa is a limited space, and just a few sales can make an enormous difference.

I don't believe buying will ever be better, so if you're thinking of a change, now is your time. You can bet when you feel very comfortable to act, so will everybody else. Don't find yourself in cattle country.

Kind Regards,

Dan Neylan

Director