2018 Year In Review

2018 Year In Review
Strong finish for 2018: Noosa confirms its position as the property investment hot spot of Queensland

IT was a strong finish for real estate right up until Christmas Eve with buyers scrambling to secure their place in Noosa.

Topping the state once again with 9% price growth for the year Noosa continues to confirm its position as the investment hot spot in Queensland.

REIQ research reveals a remarkable 9.3% average compound capital growth rate for houses over the past 37 years, beating every other shire in the state.

Just over a year ago Noosa broke the ice with its first residential sale over $10million when we sold a Noosa Sound waterfront house, followed soon after with another five above this level.

Highlights at the ultra premium end were sales we negotiated for $14million $15.2million and $18million, and just days before Christmas we settled another newly completed house over $10million. It was an off-market sale of an impressive new house on Noosa Hill overlooking Laguna Bay. The tightening up of lending by banks caused by the Royal Commission seems to have had little impact on buyers.

The softening in southern capital city markets also seems to have been shrugged off by investors, with many southerners opting to invest their money in Noosa instead of their home markets.

Properties in all price ranges and locations have been in demand, and total sales eclipsed 2017 which was a great year.

New Year Expectations: 2019 sales activity will remain strong, underpinned by low interest rates and Reserve Bank directions in late 2018 for banks to free up lending.

As in the past the Federal Election will cause some people to sit on the fence for a couple of months, and then it should be business as usual.

There is likely to be a pick up in investment purchases prior to proposed capital gains tax and negative gearing changes being implemented provided Labor win office.

Noosa’s desirability as a place to live and holiday remains exceptionally high.

As each year goes by it’s evident that Noosa is working its charm on more and more overseas and interstate people.

Holiday rental occupancy rates remain at near capacity. There are only about 70 vacant allotments for new houses in Noosa Heads and Noosaville, and builders are busy everywhere renovating and re-building.

One day you will drive past a 20-year-old house and the next day it won’t be there any longer, demolished to make way for another grand design.

Working with aspiring future residents and investors on a daily basis gives us a unique insight into the way Noosa is being shaped from a property and demographics perspective.

Knowing what’s happening behind the scenes makes us very confident that property owners in Noosa have a bright and secure future ahead in investment terms.