Welcome to the Elysium Real Estate Market Report for January – March 2016. The first quarter of 2016 has been an interesting one to say the least, with some strong results recorded along the last vacant lots sold and settled. Elysium Real Estate has also seen growth in our business, with Samantha Cary joining the business on a permanent basis to assist as we become busier. Sam certainly has the skills to keep Sean organized and brings a smiley face and bubby personality to the business! We have also spread our wings to other areas of Noosa as our business expands and have achieved great results in Sunrise Beach, Noosaville and Tewantin.
There have been some very good results in the estate this year to date and we have been able to bring offers in on several properties, with successful negotiations being achieved at record prices on 14 Bennets Ash Road in the mid $900,000 range and 8 Bennets Ash Road in the mid $800,000 range. These properties are excellent examples of the results that can be achieved when quality finishes and workmanship are blended with clever design. We have also sold the final lots in the estate which has established a higher base price achieved for land. The past 12 months has seen a moderation in price growth of land, however this was to be expected after a massive leap in prices from a low base through 2013 & 2014 and it is good to see a steady increase in prices.
Stock levels have increased in the estate in recent months and currently there are 16 houses for sale in the estate, which represents around 12 months supply based on the number of sales in the past 12 months. At the moment there is a good variety of houses for sale in a broad price range, starting in the mid $600,000’s through to the upper end asking price of around $1,700,000. There are buyers in the market, however with information available at their fingertips, we are finding the market to be very sensitive to pricing.
Overall the market in Noosa is stable with stable sale volumes recorded in the past 3 years and good price growth. This is shown in the chart below which details price growth and sale volumes in Noosa Heads for the past 20 years.
Information provided by Pricefinder.com.au.
Homes in Elysium continue to offer extraordinary value compared to older properties in more established areas of Noosa and we are likely to see further price growth over time as the last homes in the estate are completed and stock clears through the year. Interest from buyers is in the area is becoming more consistent as the area is recognised for what it is – a great community that offers a lifestyle not available in any other area of Noosa.
If I can be of any assistance with your real restate needs, please do not hesitate to contact me at any time.
0418 599 228