QUARTERLY REPORT - 3RD. QUARTER 2011

Much has happened since the last report and for many most of what has happened has been "trying "to say the least. As always, in the more pressing times there are many that are able to take advantage and this period is certainly one of those. In the Noosa Heads area there have been quite a good number of sales ,however, it would come as no surprise that most of those sales were at a comfortable price for the buyers. It is still a buyers market and every indication is that it will remain that way for some time to come. However, we must never discount the capacity of well located and historically strong property to bounce back reasonably quickly when some factors come into play. Factors such as interest rates (mentioned in the previous report as possibly decreasing and now we have seen the first of maybe 2 or 3 over the next 6 months or so), our dollar value against the U.S. dollar (lower dollar means fewer people travel offshore and it should come back as our interest rates recede). Additionally, this may not be a significant factor but it is clear to us that uncertainty about our current Government is also leading to leading to caution in many sectors -not the least of which is speculation in the property market. All things change and unless this is the end of the world as we know it, so will property values and the time to purchase will have passed you by. I am presently assisting an offshore purchaser with a significant Noosa commercial acquisition and have negotiated the sale of an iconic Noosa development site over the past few weeks. The point is - some have recognised" the moment". You can be one of them.

Bob Goode


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