MARKET UPDATE Welcome to the latest Market Report for the Noosa Heads area. While I sell properties all over Noosa, this report provides a comprehensive overview of this key beachside suburb. This report delivers market knowledge to readers, giving greater confidence and control in achieving research, investment and selling goals.
CONTENTS 3// Market Overview 5// Recent Sales
As we have entered a new year, homebuyer confidence and demand are on the rise.
7// Auction Overview
I can’t say the market as yet is returning to a ‘seller’s market’, but what I am finding is activity for property, where there has not been a lot of movement for some time. For examples, properties in the $800,000 to $1.3 million range.
8// Holman McGregor Update
I hope you find this report useful, and don’t forget to visit www.denicastle.com for more useful information and current listings. Deni Castle 0419 627 767 To subscribe to my property reports please email me at denicastlenoosa@gmail.com The information contained in this report is based on information supplied by a third party. Although care is taken to ensure the accuracy of the information at the time of publication, no responsibility is accepted by Robert James Realty.
NOOSA HEADS INFORMATION The size of Noosa Heads is approximately 13 square kilometres. It has four parks covering nearly 4 per cent of the total area. The population of Noosa Heads in 2006 was 3,649 people. By 2011 the population was 4,004 showing a population growth of 9 per cent in the area during that time. The predominant age group in Noosa Heads is 55-64 years. Households in Noosa Heads are primarily childless couples who are likely to be repaying between $1000 - $1400 per month on mortgage repayments. In general, people in Noosa Heads work in a Professional occupation. In 2006, 67.6 per cent of the homes in Noosa Heads were owner-occupied compared with 63.4 per cent in 2011. Currently the median sales price of houses in the area is 675,000. Household Structure
* Supplied by RP Data
NOOSA HEADS HOUSE STATISTICS (July 1, 2013 – December 31, 2013) Highest Sale Price: Lowest Sale Price: Average Sale Price: Median Sale Price: Total Sales Volume:
$3,550,000 $220,000 $874,625 $640,000 59
MOSSMAN COURT
NOOSA HEADS HOUSE SALES SNAPSHOT Poperty Address
Sale Price
Date
ALLAMBI TERRACE
$870,000
4/12/2013
Land Size (m²) 607
ALLAMBI TERRACE
$635,000
15/08/2013
607
ANGLER STREET
$2,125,000
30/10/2013
1113
ARKANA DRIVE
$700,000
2/11/2013
589
ARKANA DRIVE
$600,000
17/08/2013
607
ARKANA DRIVE
$839,000
5/08/2013
607
ATTUNGA HEIGHTS
$635,000
21/08/2013
506
BANKSIA AVENUE
$1,520,000
2/07/2013
936
BANKSIA AVENUE
$650,000
28/10/2013
809
BEGA LINK
$520,000
19/07/2013
732
BELFA PLACE
$450,000
21/09/2013
656
BENNETS ASH ROAD
$580,000
17/10/2013
427
BERRIMA ROW
$640,000
8/11/2013
506
BERRIMA ROW
$925,000
18/09/2013
506
BOTTLEBRUSH AVENUE
$565,000
12/07/2013
506
COOYAR STREET
$420,000
18/07/2013
700
COOYAR STREET
$385,000
28/10/2013
558
COOYAR STREET
$220,000
2/12/2013
600
CORAL TREE AVENUE
$480,000
4/10/2013
607
CORAL TREE AVENUE
$920,000
4/11/2013
567
GRANT STREET
$762,000
27/09/2013
230
HABITAT PLACE
$1,200,000
4/10/2013
2209
KAREELA AVENUE
$1,725,000
2/10/2013
607
KATHARINA STREET
$950,000
8/08/2013
516
LESLIE DRIVE
$380,000
16/12/2013
607
MILPERA RETREAT
$738,000
3/08/2013
654
$2,800,000
25/11/2013
612
NAIRANA REST
$640,000
19/10/2013
506
NAIRANA REST
$1,100,000
11/11/2013
506
NOOSA PARADE
$3,550,000
26/11/2013
782
NOOSA SPRINGS DRIVE
$1,006,000
4/12/2013
522
NOOSA SPRINGS DRIVE
$1,650,000
23/08/2013
695
SITTELLA COURT
$440,000
15/10/2013
610
SITTELLA COURT
$365,000
2/12/2013
898
SLEEPY HOLLOW DRIVE
$385,000
28/07/2013
725
STORMBIRD DRIVE
$483,500
14/08/2013
600
STORMBIRD DRIVE
$580,000
14/12/2013
664
SUNSET DRIVE
$615,000
9/08/2013
728
SUNSET DRIVE
$740,000
14/10/2013
921
TARINA STREET
$480,000
2/12/2013
642
THE QUARTERDECK
$1,065,000
23/08/2013
506
THE QUARTERDECK
$655,000
23/08/2013
506
THE QUARTERDECK
$500,000
19/09/2013
645
THE QUARTERDECK
$740,000
4/11/2013
1012
TOULAMBI STREET
$640,000
21/08/2013
752
ULAH COURT
$472,500
30/09/2013
977
WANTIMA STREET
$395,000
24/10/2013
719
WARANA STREET
$700,000
7/08/2013
607
$2,600,000
2/10/2013
834
WEYBA ESPLANADE
$550,000
8/10/2013
515
WEYBA PARK DRIVE
$340,000
20/08/2013
579
WEYBA PARK DRIVE
$448,000
21/08/2013
726
WITTA CIRCLE
$2,300,000
1/08/2013
639
WYONA DRIVE
$770,000
5/10/2013
607
WYONA DRIVE
$990,000
15/10/2013
607
WYONA DRIVE
$515,000
18/11/2013
607
WESLEY COURT
QUEENSLAND AUCTION OVERVIEW November 2013 Total Number of Auctions Clearance (on or before): 53.45% Average Bidders per Auction: Actual Bidding Percentage: Average Crowd Size (per property): Inspections per Auction:
174 1.75 57.12% 20.76 20
Source: Jason Andrew Auctioneers
November 2013. Source: Jason Andrew Auctioneers ACCORDING TO JASON ANDREW AUCTIONEERS’ FEBRUARY DATA: Investors were responsible for 30.56 per cent of the scheduled auctions, closely followed by downsizers who are driving 22.22 per cent of vendors.
HOLMAN MCGREGOR UPDATE After the Reserve Bank of Australia’s (RBA) first board meeting in 2014, many economic experts are predicting a rarity - an entire year without a move in official interest rates. It hasn't happened since 2004. A unique blend of 25 of Australia's leading forecasters in the diverse fields of market economics, academia, consultancy and industry associations have come to similar conclusions, which suggests great news for the property market. A year ago the average forecast was for a cut in the RBA’s cash rate from 3 per cent to 2.7 per cent. The bank cut to 2.5 per cent. In 2012 the average forecast was for a cut from 4.5 per cent to 3.6 per cent. The bank cut to 3 per cent. This time the average forecast is for no cuts. The average comes in slightly below the current rate at 2.47 per cent by June and slightly above at 2.56 per cent by December. If rates stay on hold around 2.5 per cent for the year it will be because the settings are in place to deliver just enough (anaemic) economic growth to keep further unemployment (almost) at bay. The most confident forecast is from Toohey, who offsets his pessimism about business investment by predicting a 10.5 per cent lift in home building. One of the lowest forecasts is from the Housing Industry Association, which is expecting 1.8 per cent. The pace of household spending is also expected to pick up, climbing 2.5 per cent in 2014 after advancing 1.8 per cent over the past ear. The panel believes the boosts in housing investment and household spending will be enough to lift the pace of GDP growth from 2.3 per cent to 2.7 per cent. What does it mean for the property market? Low interest rates mean affordable money; affordable money means property investment becomes more accessible. When investors return to the property market, demand increases and supply tightens. This all adds up to strengthening property prices. Jeromy Harris I Director Holman McGregor Financial Services www.holmanmcgregor.com.au jharris@holmanmcgregor.com.au P: 07 5408 4200 P: 07 5408 4200
Deni’s thoughts? “Events of recent days with for example, 5000 job cuts from Qantas, mostly management, could change the market place nationally (once again). Redundancies often require a realignment of financial and investment priorities, and in this case, bring an unexpected number of properties back into the market and subsequently impact on the above comments.”