Noosa Market Report - May 2011

May was a great month for Noosa sales!

All agencies were busy - our office sold over $15 million of Noosa properties across all areas.

The most noticeable change was an increase of action in the top end of the market. This included Noosa Sound, with 3 homes in Mossman Court selling from mid $2 Million to mid $3 Million range. Two properties sold in Wesley Court, a waterfront block (price confidential) and a luxury waterfront home, again not yet settled so we can't disclose the price as yet.

A waterfront home sold on Noosa Parade. It was one of the original homes built on the Sound at the beginning of the Parade across the water from Woods park. The home sold close to $3 Million which seems very low but one must remember the sites across from the park do not achieve the same values of those opening to broader water.

There were 2 sales in Cooran Court - 29 Cooran Court sold at just over $4 million - the home was an older style but the land is one of the best blocks on the Sound - the price could easily be justified as land value.

Waterfront homes at Noosa Waters were also selling well. We sold 56 Saltwater in the $1.2 million range, great value for a waterfront home. 53 Shorehaven Drive sold for $1.55 Million this home was immaculate, North facing and adjacent to a park, and it enjoys long water views to the North. A home at 39 Saltwater also went under contract. 13 The Anchorage, a new luxury home south facing, was also sold at close to $2.3 Million

We sold 147 Gympie Tce in the $1.2 Million range, the older style home over looking the river, will be removed to accommodate a new luxury home.

We sold a stunning apartment in Number One Hastings Street close to the asking price of $2.2 Million. The adjacent Viridian development should be re-offered to the market now that the receivers have appointed an agent. In Little Cove we secured the sale of Unit 9 Little Cove Court, the 2 bedroom apartment with views over Little Cove beach, sold for $1.975 Million.

Sales continued in the residential market - entry price for a home is represented by the sale of 129 Cooyar St at $419,000. Two examples of good quality homes were 5 Tangmere Ct at $655,000 and 7 Treasure Cove at $945,000.

Over in Sunshine beach we contracted apartment 1/63 Elanda Street, a luxury apartment with good ocean views, for $945,000 and 14B Weyba Street, a beautiful duplex apartment with a very high quality finish, sold for $852,000.

On a whole, a badly needed good month of sales in Noosa - it seems the public do recognize Noosa as good value and are taking action - the question remains, is this trend to continue over coming months - lets hope so.


Kind Regards

DAN NEYLAN

Director