Noosa Market Report - March 2011

March has been a testing time for the local real industry. After a true 'wet season' and press reports of devastating floods and cyclones throughout Queensland, Noosa's visitation levels were again lower for March. This subsequently impacted on enquiry levels through our sales department

Many of the property transactions that did take place were described as 'absolute bargains', often due to the fact that the selling price was well under the listing price. However, in many cases these listing prices were far too optimistic (funny how the media choose to ignore this in reports).

We traditionally see a spike in real estate activity over Easter, which is being reinforced by an increase in enquiries during April.

With the level of recent enquiry from interstate and international buyers on the increase,it seems buyers are again looking at property in Noosa seriously.

Over Easter we have 7 'On site' auctions scheduled, and are looking forward to the weekend being a great success. It's traditionally a busy time and we are feeling buyers may make the most of current opportunities, after failing to act over Christmas. Noosa has experienced similar conditions before; during both the early 1980's and 90's where the market fell by up to 30%. In both cases the market then recovered fully and posted significant gains in the following years.

This means that 2011 could be a year of tremendous opportunity.

Our ongoing research indicates that we're at the bottom of the property cycle now and the growth cycle will return! Buyers are now commenting again that they believe Noosa represents value.

Remember, the fundamentals of Noosa have not changed and, if anything, the unique qualities of this area are reinforced as each day goes by.

Kind regards,

Dan Neylan
 Director
 0412 764 370