Market Report - June 2009

Here we are at the end of the financial year!

It seems the worst is behind us. When talking to people there does seem to be a growing confidence that things are slowly improving.

Real estate wise - we continue to experience consistent sales of Noosa's prime real estate at what is now a new benchmark, price wise.

Property still needs to offer excellent value to attract buyers and investors are making their presence felt. We have sold three investment properties this month.

A good example is a Sebel apartment we have for sale at present with a net yield of 4%, better than bank interest! We haven't seen apartments being offered at those returns in Noosa, especially on Hastings Street, for some time.

The level of available stock is now shortening as property sells and owners, realizing where the market price really is, make decisions not to sell and are waiting for a better time.

We expect to see more stock come onto the market as we do every spring, but this time the prices will be sharper and more realistic. Bargain hunters should move quickly, as it seems the absolute steals are becoming fewer and farther between, typical of a closely held market place.

In coming months we expect the market to bump along much as it has the past three months and gradually improve towards the end of the year.

If we can help you with your real estate needs, please call the office.

Kind Regards,

Dan Neylan