July Market Wrap Up with Sirah Robb

Director and Principal of Wythes Real Estate

A lot has happened over the last month that relates to our local real estate market.

The excitement was electric when it was announced that Brisbane will host the 2032 Olympic Games. CoreLogic figures show that Sydney values jumped by 60% in the lead up to the 2000 Sydney Olympics, almost twice the growth of other capital cities. The Noosa Hinterland may see a similar trend but the greatest benefit is likely to be the spending on infrastructure that will be required in the lead up to 2032.

One of the most highly regarded property analysts in the country presented his insights last month. CoreLogic’s Tim Lawless suggests that economic and demographic fundamentals remain strong, implying further growth ahead.

It was no surprise to us that the top 3 regions with the highest annual capital gain for houses in QLD are Gympie/Cooloola 30.4% (median value of $443,229), Noosa Hinterland 30% (median value of $902,745) and Noosa 27.7% (median value of $1,182,138).

For those thinking about selling, now is the time to talk to an agent. Conditions look favourable at least for the next 18 months, with the pace of capital gains likely to progressively taper in this period.

In the 18 months to June 2021 the increase in asking rents was 22% in our region. Rental application numbers this month are still very strong for our Noosa Hinterland properties, which have ranged from $430 to $1350 per week.

We’ve accommodated lockdowns in the last month too. This requires us to convert inspections and auctions to an online forum and doesn’t hinder outcomes. It’s been business as usual, with our volume of sales holding steady.

We are starting to see beautiful spring like days here in the Hinterland. No wonder our region is at the top of everyone’s list to move to. When you’re locked down somewhere like this it certainly makes you realise we have a lot to be grateful for.

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