Noosa Market Report - May 2014

Multiple offers on the rise! This seems to be common place in the market place at present, a sure sign of a shortage of choice for buyers.

We continue to acheive a steady stream of sales only stifled by a lack of property to offer.

Reports of a slow down in heated southern markets have not impacted on this market. Those areas are due for a release in activity; they have been running hard for some time. A rising market never travels in a straight line.

Noosa has not experienced those very heated selling environments yet, it's been a matter of steady sales with limited price growth, compared to pressured markets in the city we are appearing better and better value, which won't last.

This sales action is no longer limited to the lower end of the market; the top end of the market is selling if buyers see value. A block on Seaview Terrace recently sold under the hammer at $3.65 Million, a duplex in Little Cove sold for just over $2 Million after being on the market for some time, a property on Witta Circle sold in the mid $6 Million range and we sold a luxury apartment in the Riverlight building in Settlers Cove for just under $1.5 Million, just naming a few.

Fortunately there are still opportunities here in Noosa at price levels well under previous highs, but there are half the opportunities there were last year and things are rumbling, stay tuned.

Kind regards,
 

Dan Neylan
Director
0412 764 370