MARKET UPDATE Welcome to the latest Market Report for the Noosa Springs area. While I sell properties all over Noosa, this report provides a comprehensive overview of this prestigious estate. This report delivers market knowledge to readers, giving greater confidence and control in achieving research, investment and selling goals. As we progress through 2014, homebuyer confidence and demand are on the rise. I can’t say the market as yet is returning to a ‘seller’s market’, but what I am finding is activity for property in all price ranges. 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.
CONTENTS 3// Market Overview 5// Recent Sales 7// Auction Overview 8// Holman McGregor Update
NOOSA SPRINGS HOUSE SALES SNAPSHOT
NOOSA SPRINGS HOUSE/VILLA STATISTICS
Poperty Address
Sale Price
Date
Land Size (m²)
NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE NOOSA SPRINGS DRIVE
$806,000 $955,000 $850,000 $830,000 $1,006,000 $855,000 $700,000 $510,000 $1,260,000 $1,100,000 $850,000 $880,000 $920,000 $508,000 $585,000 $1,650,000 $3,000,000 $2,180,000 $2,050,000 $895,000 $815,000 $1,850,000 $2,500,000 $975,000 $900,000 $865,000 $1,240,000 $970,000
13/03/2014 16/05/2013 18/11/2013 11/10/2013 4/12/2013 26/11/2013 9/08/2013 25/09/2013 25/09/2013 5/04/2013 3/02/2013 29/01/2013 4/09/2013 21/08/2013 9/11/2013 23/08/2013 19/08/2013 17/01/2013 11/11/2013 11/02/2013 16/05/2013 24/10/2013 12/06/2013 21/03/2013 21/01/2013 25/01/2013 27/03/2013 8/10/2013
464 585 536 438 522 642 559 342 596 600 514 578 600 331 325 695 1408 1163 1386 667 733 970 857 800 801 900 823 780
(January 1, 2013 – December 31, 2013) Highest Sale Price:
$3,000,000
Lowest Sale Price:
$508,000
Average House Sale Price:
$1,217,750
Median House Sale Price:
$1,123,000
Average Villa Sale Price:
$1,151,416
Median Villa Sale Price:
$887,500
Total Sales
29
HOLMAN MCGREGOR UPDATE QUEENSLAND AUCTION OVERVIEW February 2014 Total Number of Auctions Clearance (on or before): Average Bidders per Auction: Actual Bidding Percentage: Average Crowd Size (per property): Inspections per Auction:
123 59.35 59.35% 2.41 49.35 49.35% 26.74 58.69
Source: Jason Andrew Auctioneers
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 nd industry associations have come to similar conclusions, which suggests great news for the property market. 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 av 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 old 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 p 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 itt mean for the property market? Low interest rates mean affordable money; affordable money means property operty investment becomes more accessible. 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
February 2014. 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.
P: 07 5408 4200
Deni’s thoughts? “Events of recent weeks, on a local and international scale can bring a rapid change to the market place, which can have a significant impact on regional sales. sales Other factors are the mining boom nearing an end, redundancies edundancies looming (eg the Qantas layoff) and continued unrest overseas. This can lead to a realignment of financial and investment priorities, which can bring an unexpected number of properties back into the market and subsequently impact on the above comments.”