Noosa Market Report - June 2011

The June sales have been more subdued following a very good month of sales over May. This reflects the patchy nature of the market, however buyer enquiry levels remain very good and we hope to see this transpose into sales over July.

We sold an apartment for $755,000 in the Culgoa Point Resort, located on the waterfront at Quamby Place, Noosa Sound and two homes in Tarina Street, Noosa Heads, sold in the high $400,000 range. Contracts have been issued for a luxury home on the waterfront in Noosa Waters in the low $2 million range and a luxury apartment just off Hastings Street is under negotiation - this property is in the $5 million range.

We have two contracts issued for a little cheapie in the Noosa International. We had enormous enquiry post-auction - yes you can still buy in Noosa under $300,000.

Speaking of auctions, since last September we have cleared 41% of our auction properties either before auction, at auction or within 60 days of the auction day. We find sales that occur over this post-auction period are a direct result of the auction marketing campaign.

Thomas Muster has sold his luxury home at the top of Bayview Road to Formula 1 driver Mark Webber for close to $5 million. A house in the gated Bayview Woods development sold just under $2 million.

A luxury waterfront residence in The Promontory, Noosa Waters, sold in the mid $2 million range after being marketed for some time at more than $3.5 million. The property hasn't dropped by a million dollars; it was never worth the original asking price to begin with.

It's an important point; it's easy to misread what's happening to values in the market place.

We are happy to clarify the finer points of the Noosa market at any time, simply contact one of our agents.

Kind regards,

Dan Neylan
 0412 764 370