Noosa Market Report - July 2014

Property sales in Noosa are going strong across all price ranges, turnover is up and there are shortages across all market segments.

We settled the sale of 19 Allambi Rise last week, enjoying extensive views over the bay and main beach. There are only ten homes along the top of the ridge on Allambi, we sold the last home along this stretch in 2007, they don't become available often.
A duplex further up the hill in Upper Hastings Street sold just over $2 Million, we had an offer on land in Kareela for full price before the owners withdrew it from sale.
An apartment in sought after Park Cove sold for $1.15 Million, we also sold an apartment in Tenalga, just off Allambi Rise, for $560,000, the perfect Little Cove escape. This building is very closely held.

On Noosa Sound 21 Witta Circle sold for just over $5 Million, 17 Witta Circle was also contracted, not yet settled as was 33 Witta Circle. 

We sold a waterfront apartment in the Skippers Cove building for $1.2 Million.

Noosa Waters has been strong, we sold 18 The Anchorage for $2.2 Million, 31 Mermaid Quay for just over $2 Million and 3 Seamount Quay for $1.3 Million.

In Noosaville we auctioned a block of 5 apartments in William Street, the auction attracted strong interest with 5 registered bidders selling under the hammer for $1 Million.

Over at Sunshine Beach there have been strong sales only likely to strengthen as we move into Spring and Summer.
These include a stunning home on the beachfront at 6 Belmore Terrace at $5.7 Million and apartment 3 of 9 Belmore with expansive views for $1.15 Million. We sold a luxury duplex at 8 Hill Street just under $800,000, the adjacent apartment also sold for similar money.

Sales across the residential market remain strong, basically if the price is in reasonable range buyers are making offers, the volume of sales is good but may slow due to availability.

Sellers should be concentrating on refining presentation and marketing, not thinking of finding a buyer but rather securing the buyer that will pay a premium.

A lack of activity in this market is most likely a reflection of a major issue or price, there's no reason property shouldn't sell well in the current environment.

Kind regards,
 

Dan Neylan
Director
0412 764 370