04 Oct 2013

Market Report – September 2013

Noosa is buzzing. We are now benefiting from a significant upswing in tourist numbers from mainly southern guests as well as expats returning for some well earned R&R in Noosa.

Hastings Street is undergoing a number of renovations. As well, the long awaited “Sandpiper” apartments have now been completed and 2 of the 3 apartments are now sold and settled, the ground floor apartment at $8 million and the mid floor at $6 million. Rodd & Gunn have taken the lease on the Sandpiper shops and have completed a stylish shop fit that complements both the building and the street.

It is really pleasing to see that The Sheraton Noosa has finished an extensive upgrade both internally and externally. The remodelled Cato’s bar and restaurant has been receiving rave reviews under the gastronomic guidance of well known Sydney Chef, Peter Kuruvita. Further along the street the site of the former “Ma Mensa” restaurant has been demolished and an upmarket cocktail and tapas bar, “Miss Moneypenny” will soon be opening and we understand this will have a distinct “Hugo’s” of Sydney influence. “Lindoni’s” Italian restaurant is morphing into “Locale” with an stylish and modern fit out in a new restaurant at the Paris end of Hastings Street in the “French Quarter” just opposite Netanya. The “Seahaven” building is in the finishing stages of an external and internal refurbishment and is looking fabulous. It could be that “Seahaven” is looking for a hotel operator to take out the property all in “one line”.

So a new wave of confidence is causing the “planets to align” in Noosa. This is good news for the Noosa property market.

Set against this backdrop that we also seeing a big number of Noosa properties being sold. As they say, timing is everything and it is at this point that we are seeing the pendulum swing from an oversupply of available properties to sell, to a growing shortage of properties to sell. Noosa is now in a market transition. This process might be gradual, but you can be sure that it is now moving with certainty. Our advice to those that have been looking to purchase their “special” piece of paradise is, “don’t wait”.

We invite you to peruse the current list of properties for sale. Our sales staff are available to assist you with any questions you may have about the market. If you are thinking of selling in the near future we now have buyers waiting for your property. We will welcome your call and respond to any of your real estate needs with a factual common sense response. R&W is known for the best reputation in real estate.

Waterfront homes are particularly active with three homes on Noosa Sound and another on Noosa Waters being sold in September through our office. Investors are back in force an we’ve been selling many apartments from the popular South Pacific, The Rise and Noosa Blue to four in the French Quarter in Hastings Street and a plethora of others. We are having trouble keeping up with the demand.

We will welcome hearing from you.

Until next time
Good health
PB and JC



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