September Market Wrap with Sirah
September has certainly reminded us how quickly property market conditions can evolve.
The Reserve Bank’s decision to lift the cash rate by 25 basis points to 4.60% marks a fourth increase this year. Citing the ongoing Middle East conflict, higher global energy prices and persistent inflationary pressures as factors influencing its decision, it takes interest rates to their highest level since November 2011. With borrowing capacity under further strain, it is understandable that buyers are becoming more considered, taking additional time to compare properties, assess value and make decisions.
However, the latest data also reinforces why it is important to look beyond the national headlines. Cotality’s September Housing Chart Pack revealed national sales volumes fell 2.7% over the year to August, driven largely by a 5.2% decline across the capital cities. Regional Australia proved considerably more resilient, with sales volumes actually increasing 1.8% over the same period.
Closer to home, we are also seeing a market that is adjusting rather than standing still. Fresh Cotality data shows Sunshine Coast property values eased 1.4% between June and August yet remain a substantial 11.3% higher than a year ago. After the extraordinary growth experienced across our region in recent years, some moderation is perhaps not unexpected.
What matters now is understanding how buyers are responding. They may be more selective and value-conscious, but they remain active. Quality properties that are well presented, positioned and priced appropriately for current conditions continue to attract genuine interest and achieve great results.
We are seeing this firsthand at Hinternoosa. Over the past month, we have brought 25 new properties to market, including The Rise – nine townhouses in the heart of Nambour – while achieving a further 17 sales. These results are encouraging and demonstrate that opportunities remain for both sellers and buyers despite the changing market.
September also brought some wonderful recognition for our team, with five finalist nominations in this year’s REIQ Awards. Heather Fleming, Dannielle Preston and Ruth Venning have each been individually recognised, while Hinternoosa is a finalist for both Large Residential Agency of the Year and the Contribution to the Community Award. We are incredibly proud of our team and what these nominations represent.
As conditions continue to evolve, informed local advice matters. With deep knowledge of the Noosa Hinterland, a personal approach to service and a genuine passion for this beautiful region, our team is here to help you navigate your next property move with confidence.