Market Update – 3rd quarter 2023
So what’s the truth about the Noosa property market?
Well the devil is in the detail and the situation is that the volume is down, and when I say down I mean record low, less than the volume that was sold during Covid lock downs and the GFC in 2008. All the while the typical property rhetoric both locally and in National media is that the median house price is on the rise, a statistic that is 100% accurate, so how can that be? Simple, there has been a rush to quality. A-grade property in excellent locations with genuine scarcity, both renovated and new homes have driven up the median price.
Buyers with more capacity, who are affected less by consumer confidence and the reliance on debt to buy have reigned supreme, this is a set of market conditions that is not exclusive to our Noosa market it is exactly the same for the most desired property markets around the county including Bellview Hill, Bronte, Toorak, Albert Park and Brighton the list goes on.
“The knock-on effect of the reduced sales volume is that local buyers as well as the migration of tree-changers and sea-changers will push back, so our local spring selling season will heat up in October and November” – Adrian Reed
Our agents are area experts, offering years of experience and in-depth knowledge, so if you are thinking of buying or selling, why not take advantage of our specialised advice. Click on the suburb below for a more detailed micro-market report, prepared by our agents specially for you.