Noosa Market Report - June 2013

The last month of the financial year ended on a subdued note. Sales remained consistent with previous months; activity, however, was slower than those experienced over the past 8 months.

It's likely this is reflective of the slower months that we always experience this time of year, there's no doubt conjecture over and ultimately a change of government has had buyers cooling their heels.

We experienced some solid sales this month including some waterfront land in Noosa Waters at just over $900,000. There has been renewed interest in land in the waterside estate as the selection of quality homes dwindle.

On the topic of land, the remaining portion of the Noosa Northrise land subdivision was sold this month. Developed by the Seymour Group, this land is one of the last small parcels located in the heart of town and was hotly contested by buyers. The new owner that will go forth and develop the land has not yet been released.

Our auctions continue to be very successful. In a quieter month we sold a home at Noosa Waters under the hammer just under $700,000; this sale was $5,000 under our estimate. Another auction property offered in Neptune Circuit sold in the first week of the auction campaign, the offer being too good to refuse.

A property at 14 Angler St Noosa Hill attracted 4 interested parties. Strong bidding passed the property in at $2.3 Million, and negotiations are continuing. Peregian Beach remains a strong market; this month we commenced a campaign to auction Number 1 Peregian Esplanade - a large 70's brick home with elevated sweeping views of the beach to the North. Early in the campaign strong interest resulted in an offer well over $900,000 once negotiated - an offer too good to refuse for the solid home in original condition. This is testimony to buyers knowing now is the time to secure a prime property when they see one.

Looking forward as we move towards a federal election we expect similar market temperament until we have a new government. Most of our sellers are preparing for September selling campaigns. We believe 80% of the result is in the preparation. If you are considering selling later this year speak to me now so we can be well prepared. We are looking forward to a very solid spring and summer.

Kind regards,

Dan Neylan
Director
0412 764 370