Welcome to our latest property market update, brought to you by Vendee Property Buyers from the heart of Noosa. In our April review, we delve into the current dynamics of the Australian property landscape, with a particular focus on the vibrant Noosa and Sunshine Coast region. We’ll unpack the subtle shifts we’re observing, from national trends to the hyper-local nuances that matter most to buyers and sellers right here.
National Overview: A Market Finding Its Feet
Across Australia, the property market is showing signs of renewed strength. National home values have surged to new all-time highs, buoyed by a 0.4% increase in March. This growth has reversed a brief downward trend, with nearly all capital cities contributing positively, except for Hobart. Notably, Sydney and Melbourne are back on an upward trajectory, although they are yet to surpass their previous peaks.
Market sentiment is also improving, largely influenced by recent and anticipated interest rate adjustments. While the slight reduction in interest rates has marginally increased borrowing capacity, the real story lies in the shift towards more positive consumer sentiment, fueled by the rate cut and the expectation of further easing. The consensus among three of the four major banks is that we’re likely to see an additional 0.75 basis points in rate cuts throughout 2025.
Further bolstering this outlook are the consistently tight labour markets, with a national unemployment rate of just 4.1%. Housing demand remains robust, underpinned by an ongoing shortage of new property supply failing to meet this demand. Easing monetary policy and modest income growth are also providing some relief in the cost of living.
However, it’s important to acknowledge some moderating factors. We are observing a softening in the labour market, and net overseas migration has seen a significant decrease compared to the previous quarter. These elements suggest that while positive momentum exists, they are likely to temper any dramatic surges in property prices. The interplay of supply and demand will continue to drive moderate growth, with the existing supply shortages unlikely to be resolved quickly.
Noosa and Sunshine Coast: A Region of Continued Growth
Turning our attention to the Sunshine Coast and, specifically, the Noosa market, we continue to see overall growth. The lower quartile of properties has demonstrated particular resilience and strength. Interestingly, we’re starting to witness increased activity in the upper quartile in other capital cities like Sydney, a trend we anticipate will eventually be reflected in the Noosa market, albeit at a more measured pace for now.
Listing and stock levels in Noosa and the broader Sunshine Coast remain relatively stable, holding at historically low levels. The average days on market have seen a slight increase, suggesting a subtle shift in the pace of sales.
Key Median Price Movements:
Let’s take a closer look at the median price performance across key Noosa and Sunshine Coast suburbs:
- Noosa Heads: A significant jump of 32.6% growth over the past quarter, pushing the median price to $2,452,500, with an average of 63 days on market. This likely reflects some high-end sales within the period.
- Sunshine Beach: While not at an all-time high, Sunshine Beach continues its positive trajectory with a median price of $2,550,000.
- Sunrise Beach: Demonstrating strong demand, particularly among families, Sunrise Beach has seen a 10% growth year-on-year, with the median price now at $1,850,000.
- Noosaville: Maintaining a solid performance with a median price of $1,900,000.
- Tewantin: Reflecting the national trend of strong lower quartile performance, Tewantin has experienced a 12.2% growth, reaching a median price of $1,100,000.
- Peregian Beach: Showing steady growth at 3% annually, with a median price just over $1,500,000.
- How Vendee Property Buyers Can Assist You:
Navigating the intricacies of the Noosa and Sunshine Coast property market requires expertise and a keen understanding of local dynamics. At Vendee Property Buyers, we are here to save you time and money and provide the confidence you need to secure the right property.
We offer access to off-market and pre-market opportunities, providing expert guidance through auctions, expressions of interest campaigns, and all properties listed on the leading portals. Our comprehensive services include:
- Property Search: Tailored to your specific needs and preferences.
- Valuation Confidence: Providing accurate and insightful market appraisals.
- Extensive Due Diligence: Thorough research to protect your interests.
- Expert Negotiations: Strategically negotiating to achieve the best possible outcome.
- Smooth Settlement: Guiding you seamlessly through the final stages of the transaction.
If you are looking to buy a home or investment in the Noosa and Sunshine Coast region, we invite you to reach out and discover how our expertise can empower your property journey. Please feel free to contact us today for a confidential discussion.
