Latest Report - Noosa Market Report May 2009
This month sales
continued to be strong, with a second month of higher turnover and sales
volume. The majority of the sales were again below $1 Million; however
sales above this level have increased in the past two weeks.
The majority of sales have been at reviewed price
levels, establishing a new platform from which prices are now working from.
Sellers listing their properties at levels reflecting recent sales are selling
in a reasonable time frame, however stock listed at levels above those of recent
sales is sitting on the market for extensive periods of time. Some are
saying the only sales happening are distress sales and to some extent this is
true, but there’s little doubt in experienced minds that a new price level has
been set here and in most parts of the country. Fortunately in areas of high demand like Noosa this
adjustment is often short lived once confidence turns around. We are
definitely feeling the market has changed and are forecasting a busy Spring. There is little doubt that the market has
bottomed and we are just coming off that bottom now, comments we are frequently
hearing from buyers. The current climate really represents a good time
to purchase well located property while it’s available at reasonable price
levels.
Kind Regards
Dan Neylan
Director
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