Noosa Buyers Agent
October 2009 Report
Stronger figures through all sectors have seen the Australian property market not only hold firm over the last month but return its biggest monthly increase for the last 4 years. Auction clearance rates, sales volumes, and most importantly, housing prices have all been on the rise.Investors are slowly but surely taking up a position in the market place. All this positive news does not seem to have affected the lending houses tight credit policies for the building industry as many developers are finding it near impossible to obtain finance for new projects. With interest rates at an all time low and almost certain increases on the horizon now is the time developers need to be landbanking and/or getting approvals for new developments - this is not happening. The price pressure on exisiting stock as the slack gets taken up over the next 18 months or so will be very significant. Noosa Heads itself has at least 3 major developments at or near completion and as stock is reduced builders need to continue supply, however, there is only one smaller development that has approval ready to meet future demand. So, what does this mean for buyers now? One has to reason that the next 18 to 24 months can only mean an increase for property prices on the Sunshine Coast as the current stock diminishes. The basic rule of supply and demand surely must be brought into any buyers calculations. If you are considering purchasing then it's unlikely that there will be a better time - we can help you.
September 2009
Activity in this area has accelerated over the past few weeks, however, that does not automatically mean sales have been made in significant numbers. Many buyers are still generally unconvinced that all circumstances are absolutely in place to 'take the plunge'. Uncertainty about interest rate movements, prices being sought by sellers, availability of credit and the short to medium term prospects of capital growth are all factors inhibiting sales (Noosa Heads is not a first home buyers market generally, so the substantial growth in this area does not apply)
More than anytime in the past 30 years a considered and professional approach needs to be adopted by buyers.
Market Report
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.
