Sunshine Coast Real Estate - A overall market report

Following on from a positive trend in the final quarter of 2005, the first quarter of 2006 has continued to deliver mixed conditions for Noosa in terms of both sales and prices being achieved

Defying what some analysts are terming a consolidation' in a number of city markets in Southern States, the Queensland property sector has generally continued to trade in positive territory and Noosa in particular is showing why it enjoys a blue chip' reputation. Whilst some softening has undoubtedly occurred in marginal areas, Noosa is presently offering astute buyers a good supply of well positioned, quality homes and apartments at value for money prices.

Figures from the Real Estate Institute of Queensland, published in The Sunday Mail on 27 February, show that Noosa's median detached house prices grew by 10.6% to $453,500 in the December quarter with overall growth in 2004 of 12.5%. With most of the annual growth occurring in the last quarter of the year, these figures underline that the Noosa market is once again on the move. It must be mentioned that comparing a specific quarter to another where there is a small sample can lead to inconsistencies, and different statistical sources are publishing different results, particularly with median prices.

In the specific area reports you will see examples of actual sales values. Several landmark prices were achieved, in particular on Noosa Parade at $5.6 million, on Mossman Court at $4.2 million and a sale by our office in The Anchorage at Noosa Waters close to the asking price of $3.85 million. It is this segment of the market that has performed the best by far. On some reports you will also see graphical information on sales numbers and values for the first time. We are aiming to improve the quality and variety of our information on a continuing basis. Keizuko the art of continual incremental improvement.

For those seeking to secure a quality property in Noosa, the timing is perfect. This year, more than most, will offer buyers balanced trading conditions and an excellent opportunity to select a Noosa property for investment or residential use. The balance, because of Noosa's overall restrictions on supply, will before long move back into the sellers' favour. Bear in mind that the bulk of the Australia 's 1.7million baby boomers are rapidly approaching retirement and pressure on Noosa will continue grow. Buyers should take advantage of the relative slowdown in price growth before dwindling stock puts heavy upward pressure on prices again. Most of the sale price reduction is apparent, as sellers drew a straight line graph upwards from 2002-2003 and hoped life would carry on as usual

For those considering putting their properties to market we can only refer to the excellent response we are receiving to print media advertising, open house attendance and our auction clearance rates to underline that there are plenty of buyers looking for well-priced, well-positioned property and who are paying historically high prices. You don't need to wait to market your property great results can be obtained in the current market. Please do call your RE/MAX agent of preference to discuss your property and what you wish to achieve.

Sunshine Coast real estate suburb profiles

Brought to you by The Directors of REMAX Noosa

Craig Brumby, 0417789765 craigbrumby@remax.com.au
Rod Baker, 0418 708545 rodbaker@remaxnoosa.com.au