August in the Noosa Hinterland defied broader trends of cooling growth seen in other regions. CoreLogic reports indicate a slowing in regional value growth. Yet the allure of regional areas remains strong, supported by a lifestyle shift that continues to attract buyers away from the city. As the spring selling season emerges, analysts predict a seasonal uplift, which could provide opportunities despite the broader slowdown in market momentum.
Locally, Hinternoosa has been a hive of activity, with remarkable sales achievements that underscore our team’s expertise. August saw a flurry of contracts, with 11 properties going under contract within just ten days. Our proactive strategies and deep market knowledge resulted in a combination of multiple offers, short days on market, and the activation of two backup contracts, emphasising our dedication to securing the best outcomes for our sellers.
The demand for land notably increased this month, possibly reflecting the recent stabilisation of building costs encouraging more buyers to consider building. This trend aligns with the nationwide cooling of construction costs, which have risen at the slowest annual pace in over two decades, providing a more favourable environment for new constructions and renovations.
Hinternoosa’s auction strategy has proven exceptionally successful, achieving a 100% clearance rate this month and 75% for the year to date. These results outperform the current combined capitals national average, which increased over the month from 64% to 70%, as well as Sunshine Coast weekly auction clearance results that ranged from 30% to 64% over the month.
The Hinternoosa average weekly attendance at open homes stands at 58 groups, complemented by an average of 16 private inspections, slightly down from July. With an increase in contracts for August, this highlights our skill in converting interest into tangible sales results for our clients.
For those contemplating selling in spring or planning for 2025, now is the opportune moment to leverage Hinternoosa’s market-leading insights and tailored strategies. Our approach not only navigates current market conditions with precision but also positions your property to capitalise on the unique dynamics of the Noosa Hinterland market.
As we look ahead, the forthcoming changes in tenancy laws, effective from September 30, will introduce new dynamics in the rental market. These changes aim to enhance the affordability and rights of renters, which could influence investor strategies and market dynamics. The introduction of measures like capping bond amounts and other initiatives to increase transparency in rental transactions will require landlords and property managers to adjust their operations to stay compliant. If you are a current rental property owner or considering renting out your property, now is also a crucial time to align with the new legislative requirements to ensure compliance and maximise your investment’s potential. Contact Hinternoosa for expert guidance.
