Noosa Real Estate Market Report – December Quarter to 2012
Some very positive statistics are beginning to align for Noosa Real Estate owners on the Sunshine Coast. The REIQ Market Monitor report was recently released and the figures for property sales on the Sunshine Coast are indicating an upwards swing, in addition to returning buyer confidence.
Fundamentally the Noosa Real Estate market and greater Sunshine Coast economy is driven by tourism – when beds are full and the visitors flock to town the flow through effect stimulates local businesses, jobs and the property market in turn. Accommodation houses reported an absolutely bumper season for the end of 2012 with less vacancies and more visitors in town than what has been seen for many years. It was evident simply by observing the numbers of bodies on beaches, in the café’s and trendy boutiques.
Now we look to the property figures for the December quarter. Compared to the same period for 2011, house sales volumes were up by 25%. Sales on units and apartments, a popular investment in tourist zones, were also up. In contrast to this, median prices on average moved incrementally, in some cases fell. In conjunction with historically low interest rates, many buyers are recognising that great value opportunities will continue to diminish as the market turns.
Supporting this is the problems experienced with supply – as those interest rates dropped the fiscal motivation for many sellers also diminished – meaning less properties on the market and a climate of competition.
All in all the outlook for the market in 2013 is continuing to look very healthy, Noosa Real Estate owners interested in capitilising on the recent events should contact their Robert James Realty sales professional for a comprehensive valuation and market appraisal.