11 May 2011

Is The Media Beating A Hollow Drum?

The media loves a good story, well who can blame them? We all know that this is how they sell newspapers. In fact if I was a Journo I would be looking for the biggest chins that stick out and find ways of taking pot shots too. And this appears to be the case as poor Noosa has been on the receiving end of a lot of pot shots or negative press lately regarding our property market. The question needs to be asked, is the media beating a hollow drum when it comes to singling out Noosa or is there in fact substance and justification to their recent articles?

Well  firstly  in response doesn’t it seem just a little fishy that Noosa which is about the size of Wagga Wagga in NSW or any number of large towns or small cities or indeed suburbs in Sydney or Melbourne, would get so much national press? How could it be that this small part of the world has attracted this type of real estate vitriol?

Now there is no hiding the fact that real estate has taken some major blows in Australia as it has in most developed countries in the world  and Queensland was further impacted by natural disasters that served only to accentuate the downturn. But should Noosa really be the whipping boy or could there be some misguided sense of tall poppy syndrome taking place?

Local pride in Noosa has never diminished and when one has visited or lived here it doesn’t take long to see why. Noosa has been blessed with natural beauty, pristine beaches and an enviable lifestyle.

Yes Noosa locals could be labeled patriotic zealots who seem to ‘harp on about their precious Noosa.’ I can understand people raising their eyebrows when they hear of our desire for secession from the larger Sunshine Coast regional council and our earnest desire to keep Noosa; well Noosa.

But paradises are worth protecting and yes singing about, but alas this has seemingly backfired on us as the Journos seem bent on teaching Noosa a lesson.

The reality is there have been some speculator developments undertaken in Noosa that a few developers took monumental risks on. Like many caught up in the subprime debacle, they took advantage of the cheap finance and unheard of leverage that was on offer and when finally the rubber hit the road they were caught out.  It’s the old problem of having eyes bigger than one’s belly. Has this happened all over Australia, absolutely! Have Noosa’s speculators been any greedier or more spectacular in their endeavors than anywhere else? Of Course not!

But this is Noosa and for so long our chins have appeared to stick out. And this is just too tempting for the Nation’s media, especially when they know that many of Australia’s highest profile people and International notables have enjoyed the Noosa lifestyle for many years.

For risk of sounding like a Noosa zealot can I tell you that Noosa still presents as one of the major jewels in the Australian crown and a place that will always be the desire of many, including people from all over Australia and the world.

At Richardson & Wrench we are seeing a resurgence of buyers coming out of the woodwork, in fact greater enquiries than we have seen over the last 12 months. Sales have been steady and there have been some notable multimillion dollar sales in the mix as well.

Despite the flack and the media’s desire for a good story, prudent people are recognizing that this maybe the best opportunity to take a share in this crown Jewel. Desire for paradise will again outweigh supply and many will again find themselves on the sidelines.

I have a funny feeling that Noosa will yet have the last laugh.

Social Media: