Sirah Robb
April Market Wrap With Sirah Robb
The resilience of the Australian property market continues with CoreLogic’s Home Value Index (HVI) evidencing a trajectory of growth. The Index, which grew by 0.6% in March—mirroring February’s increase—has now celebrated its 14th consecutive month of growth, enhancing dwelling values by around $12,000.
This upward trend signifies a potent recovery from the -7.5% dip observed from April 2022 to January 2023. The national HVI now boasts a 10.2% increase, a $71,832 rise in dollar terms, reaching new record highs monthly since November last year. The acceleration from a 1.4% growth rate in Q4 2023 to 1.6% in Q1 2024 highlights a pivotal shift towards the lower end of the market in most capital cities, driven by the increasing pursuit of affordability and tighter lending standards.
Amid these broader trends, our Noosa Hinterland market has displayed exceptional performance. This is particularly evident in Hinternoosa’s recent sales, which underscore the vibrant activity and levels of demand:
- 16 Yatama Pl, Cooroibah, sold before auction.
- 29-43 Dierdre Dr, Eumundi went under contract in just two weeks.
- 213 Black Pinch Rd, Black Mountain attracted multiple offers and went under contract in 10 days.
- 1407 Cooroy Belli Creek Rd, Belli Park, under contract in 7 days.
- 32 Justin Rd, Doonan, stood out as the most viewed property in QLD on realestate.com.au when it went live and attracted over 60 groups to inspect in the first week. It went under contract in 10 days with multiple offers.
These successes not only highlight the robust interest in Noosa Hinterland properties, but also Hinternoosa’s expertise in navigating the market.
As we look forward to the rest of 2024, with predictions of interest rate reductions expected to further increase buyer activity, the Noosa Hinterland remains an attractive prospect for both current and aspiring residents. Savvy buyers are acting now.