Noosa Market Report - November 2012

This month the Noosa Market continued on at a new higher paced rate in line with a lift in turnover experienced throughout September and October.

Despite a slow start due to the spring racing calendar and the Noosa tri,(which is always a busy period in Noosa but not so for real estate), the month  was very busy, ending with a flurry of offers and contracts.

The majority of sales have been under the million dollar mark and mostly residential property.

There was a waterfront apartment in Aqualinea on Noosa Sound sold under the hammer - this apartment was holiday let and in a prime North facing position overlooking the broad water of Noosa River.

Our office sold one of the Tingirana apartments just under $2.7 million -  this is one of the few high sales this month.

We have sold all but 6 blocks in Noosa Northrise, and the remaining land is expected to sell in the next 8 weeks.

We sold a Crest apartment in the $600,000 range, as well as a 3 bedroom, 2 bathroom apartment in Elizabeth St Noosaville for $795,000 - one in a block of four apartments. A duplex apartment sold in the same street for $910,000 - we sold that property 18 months ago in the $1.2 million range.

There is still excellent value around in the market place, we have an older home in Wyuna Drive on the market at $1,850,000 - this is a main river location overlooking the estuaries and a great buy for such a spectacular position.  

There are brand new apartments in the Da’Vos building for sale now at reduced prices, again offering great value at below replacement cost.

The waterfront at Noosa Waters continues to attract buyers and there are vacant allotments for sale under $900,000 - these properties were as much as $1.4 Million at the peak. In 2001 these allotments tripled in value in one year.

It seems the market is now in positive territory, so if you are looking for the bottom of the market, look hard now, it’s likely we have just come off the bottom and the next few months will be the telling period.

Kind Regards

 

Dan Neylan

Director

0412 764 370