Sirah Robb
June Market Wrap
As we step into a new financial year the Noosa Hinterland’s property market resilience is evident, matching trends seen across Australia. CoreLogic highlights residential real estate as the dominant asset class nationally, greatly exceeding other investment forms like superannuation and commercial real estate.
Nationally, home values have risen 8.0% over the past year, with a 1.8% increase in the June quarter. This growth, although reduced from earlier rates of increase, shows a stable yet thriving market, with regional areas like ours slightly outperforming the capitals due to lifestyle appeal.
The national perspective shows a 7.8% increase in new listings early in July, yet total listings are still 17.3% below the five-year average, suggesting a persistent market undersupply contributing to continued competitive conditions and potential for upward price pressures.
Economically, the RBA’s recent decision to maintain the cash rate reflects caution amid weak economic activity forecasts. This, combined with cooling growth in home values, further suggests a thriving market stabilising.
Given these dynamics, owners considering selling this spring should consult with Hinternoosa agents now to capitalise on current strong demand and low supply.
In the Noosa Hinterland, Hinternoosa’s understanding of market dynamics and strategic campaigns has driven substantial sales activity. This past year we facilitated 749 open homes with 3,342 group visits, plus 745 private inspections, leading to numerous above-market average sales and multiple area records. Notable sales include the Gheerulla suburb record at 2227 Eumundi-Kenilworth Rd for $2,300,000 and the highest recorded sale in Cooran at 171 Ewarts Rd for $3,500,000.
In Cooroy, we established the top two new in-town benchmarks with record sales at 18 Miva St for $1,550,000 and 23 Wattle St for $1,350,000. Additionally, 154 Holts Rd achieved the second highest price for out-of-town Cooroy at $3,000,000. Black Mountain’s record was set at 28 Crows Ash Ln for $2,300,000. Other top sales included three of the highest sales in Boreen Point and significant records in Cooran, Belli Park, Carters Ridge and Verrierdale.
Rental markets are slowing, with national rent growth at 8.2%, indicating potential shifts in inflation’s rental component and affecting investment and affordability trends. Despite this, the investment appeal remains strong, highlighted by increased investment lending, which suggests sustained investor interest in real estate.
For the Noosa Hinterland and surrounds, these factors predict strong ongoing demand for rental properties, though yield expectations may adjust as the market aligns with broader economic changes. The area’s lifestyle appeal and relative affordability continue to attract investors and homeowners, underscoring a stable and appealing market environment.