Noosa Market Update with Shane McCauley
Welcome to 2018 in Noosa, and what a year it is looking likely to be in our property market. The desire to own property in Noosa has only accelerated, and domestic and international property buyers are turning to Noosa for sound investments. Analysis of the Sunshine Coasts real estate market over the last 12 months revealed 14 suburbs had achieved capital gains of 10 per cent or better, including Noosa Heads which broke through the 13 per cent barrier. The median sales price for houses in Noosa Heads in the last year was $930,000. Compared to the same period 5 years ago, the median sales price for houses increased 35.8 per cent which equates to an annual growth of 6.3 per cent. Median sales price for units in Noosa Heads in the last year was $612,000. Compared to the same period 5 years ago, the median sales price for units increased 6 per cent.
Auction is the way to go in this market, with one auctioneer spruiking a 75 per cent clearance rate last weekend on the Sunshine Coast. We had 3 auctions at R&W and sold all three, with one auction having 16 registered bidders fighting it out. There is urgency in our market right across the board at all levels and that is certainly exciting to see. Auctions are traditionally good indicators of the health of the current real estate market. The thermometer is now starting to rise as our market is again heating up. Both buyers and sellers have that air of optimism about them again.
As a courtesy we always offer a free appraisal of your property, to let you know the new value in this market. If you would like to utilise this service please give me a call or send me an email.
Principal - Richardson & Wrench Noosa