April 2010

Following an encouraging start to 2010, the Sunshine Coast property market appears to have stabilized. Meanwhile, real estate sales numbers coming from the Southern states have been very strong with both Sydney and Melbourne recording auction clearance rates between 65% and 75% in the last 3 months.
Here on the Sunshine Coast, the auction method of sale seems to be the flavour of the month and we definitely agree it is the way to go when moving from suburb to suburb.  Notwithstanding some exceptional websites, it might just be that Noosa and its surrounding property areas are not really exposed to the greatest numbers of potential buyers as most of our buying pool is only here for approximately 7 days- often without a vehicle to see the “For Auction” signs. Realistically, it is asking a lot to coincidentally have a buyer in town when the auction is being conducted.
Interest rates are still dominating the headlines and as suggested in previous reports have continued to rise with one of the ‘Major 4’ banks hinting that in future they will ignore the official rate set by the Reserve Bank and increase the rate when they see fit.  Everyone is aware that rates will increase further so it does seem that it would be prudent to lock in the best rate as soon as possible.
The Sunshine Coast appears to be perfectly positioned for good buying right NOW. If you are considering acquiring residential or commercial property on the Coast let us help you. We can be your eyes and ears all day every day - currently there are some very good opportunities.

Previous Noosa Market Reports