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Coast housing market is a star performer The Noosa Journal | 12 June 2008 By Nathan Evans
THE Sunshine Coast property market out-performed much of the state, according to Real Estate Institute of
Queensland March quarter figures.
Median house prices in the Noosa region increased 14.5 per cent to $560,000, while Caloundra recorded a 4 per cent rise to $470,000 and Maroochydore 1.2per cent to $456,000.
By comparison, Brisbane's median house price for the same quarter rose 0.1 per cent to $490,000.
REIQ Sunshine Coast zone chairwoman Jean Hamer said top-end sales, particularly waterfront properties, were driving the boost to Noosa's median figures.
"The Noosa market usually operates on its own time-line with its result due to a number of high-end properties sold over the period," she said.
She said that in the past two months agents had been reporting a softening of demand and inquiry but were certainly not seeing any great drops in the market.
"The Sunshine Coast market is underpinned by high migration and is still bumping along nicely," Ms Harmer said. "Buyers are just biding their time a bit more."
Leading agent Tom Offermann of Tom Offermann Real Estate said median figures had their place as a market indicator but should not be taken as reflective of an across-the-board 14.5 per cent price jump.
"It's always good to see the statistics reflect positively on Noosa, however a median price rise of 14.5 per cent over the past quarter does not mean property prices have gone up by 14 per cent over the past three months," he said.
"But together with other good research and statistics it helps build a picture."
Mr Offermann agreed with Ms Harmer that high-end properties were seeing the most movement, while a momentary softening of the market was providing a good way in for new buyers.
Richardson & Wrench Noosa agent Eric Seetoo said Noosa had many elements that helped shield it from drastic price drops felt elsewhere.
"Noosa is a very special place and will always be," he said.
"If you look around it has all the elements - the hinterland, the beaches, the river. There's a short supply and the demand is still there."
HIGHLIGHTS
• Cooroy's median house price for the March quarter rose to $440,000, up 12.8 per cent.
• Nossa Heads' median house price jumped 73.8 per cent to $1,030,000 for March 2008, attributed to waterfront property sales.
• Sunshine Beach recorded a median house price of $785,000 for the three months from January to march, up 23.6 per cent.
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