2020 Year In Review
As we move into the second half of 2020, the initial impact of COVID19 has subsided within the Noosa property market. The prestige end of the Noosa market is bucking the national trend with a number of strong results on the beach and waterfront as high net wealth individuals seek out some of Noosa’s best property on and off the market. There are a number of factors at play that are culminating in strong demand for well-presented property.
Firstly, stock levels are typically low when there is a level of uncertainty, that was evident in the last major market disruption in 2007, couple that with the ongoing trend of tighter market conditions and we now have historically low levels on offer to the market.
Secondly, there is an increasing number of retiree ‘tree-change’ and ‘sea-changers’ pulling forward their plans to make the migration north to Noosa. Many of our interstate buyers have cancelled all international travel plans and are now looking to make major geographical moves away from densely urbanised areas to warmer, more idyllic sub-tropical climates. Noosa races straight to the top of the list.
International travel plans are all on hold and it looks like they will be for some time so there are new eyes on Noosa especially in the prestige and super prestige end of the market. I think that the number of private jets arriving at the sunshine coast airport will increase dramatically over the balance of the year as super yachts in the Mediterranean lay idle.
Noosa has weathered the health crisis better than most with indications of green shoots of activity as businesses, home buyers and households start to see a path forward and confidence and activity slowly begin to grow across the local economy.
Here is the wrap on the latest trends in some of Noosa’s most talked about suburbs.
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