Noosa Market Report - March 2013

 The Noosa Real Estate market reflected an increase in sales activity again this month with solid turn over from the bottom to the top of the market. This surge of confidence is the continuation of a lift in activity that began in August last year and corresponded with improvements in the share market, so with this in mind we remain cautiously optimistic. If the share market remains solid so will the Real Estate market.

Once we get through the Federal election, depending on the result we may again see further confidence across Australia which weakens any impact share market fluctuations may have on buyer confidence.

At present its business as usual with the typical outcome of increased sales turnover, namely shortages beginning to appear for property in certain areas.

This shortage is necessary to encourage a rise in property values - if it continues, pressure will shift from sellers to buyers to pay more for the property they want.

This month we sold 26 properties or almost $24 Million in sales. Stand out sales include a waterfront unit in Sunseeker Close, Noosa Waters, for $725,000, a home in Nairana Rest, Noosa Hill for $827,000 and the final two allotments in the Northrise Estate located behind Noosa Waters sold in the $270,000 range. We have marketed and sold the whole release, and the developer will not release any further land here until $400,000 can be achieved.

We sold a luxury waterfront home by Paul Clout for $2.775 Million and a block of 6 apartments in Robert Street Noosaville, just off the river for $1.3 Million. 29 Witta Circle was a sale to be proud of, achieving $3.8 Million and the house will be demolished. We sold apartment 210 Netanya, one of the smallest apartments, in the mid $700,000 range.

Homes can still be bought in Noosa for $465,000 which is what 20 Cooloosa Street sold for in Sunrise Beach, and we sold a house in Lorikeet Drive, Peregian Beach, for $700,000. Peregian continues to be very popular. A waterfront block on the Anchorage was sold for $1.5 Million reflecting the values of the best land in Noosa Waters.

Generally things are on the move in Noosa, its a great time to sell if you are thinking of moving on - if you are in buying mode, now is the time, there has been little growth in almost a decade and Noosa looks great value.

With the de-amalgamation vote behind us, as we move back to our own Council, people will know that the Noosa they knew and love is back in the hands of the citizens that value and appreciate it the most.

This can only reassure people that every aspect that makes Noosa unique will be preserved, which can't help but have a positive effect on the desirability of Noosa property, so now is the time to buy and lock in for a five year period as we enter an upward cycle.

Kind Regards

Dan Neylan

Director

0412 764 370