Property Market Update
Well we’re halfway through the year and with several months of uncertainty the Noosa Hinterland property market has held strong. Reports show the number of buyers searching for homes continued to surge through June and July. In fact, every measure of demand captured on realestate.com.au has reflected some of the best conditions since before lockdown. First home buyers interest and enquiry remained strong throughout June and July with the aid of stimulus measures such as the federal government’s Home Builder scheme.
Given we are currently in the midst of a recession, it is comforting to know our local Noosa Hinterland house prices are remaining steady with the median price increasing by 12% in 2020. We are also seeing a high level of consumer confidence with properties still coming onto the market and the number of these new properties coming to the market is similar to what we saw last year.
Buyer inspection numbers at our open homes continue to be strong, which is reassuring given interstate border restrictions. A considerable amount of buyers we are currently working with are from coastal regions or large cities looking to make the move to our hinterland lifestyle. This is something our interstate buyers have historically longed for and continue to value.
Increased activity levels have resulted in 14 signed contracts at Hinternoosa in July, many of which have involved multiple offers and exceeds our monthly office average of 9 contracts a month. It has been a jammed packed financial year, one of the most interesting we have seen to date. Rest assured the longest standing agency in the Noosa Hinterland is here for you to provide direction, guidance and support when it comes to achieving results in any market.