When is the Best Time to Sell?
Are you asking yourself, when is the best time to sell? The short answer is of course, it depends. It depends on the market trend (up or down), the time of year (it differs suburb to suburb), supply and demand, and your agent.
After a volatile period commencing with the withdrawal of Qantas from the Sunshine Coast through the GFC and declines in the tourist demographic (see Noosa Holiday Homes are Back! for more detail on our tourism market), Noosa has stabilised in an upward trend.
We are without question in a rising market.
While median price growth for the past 12 months has been significant across the board, it is the median price gain over 5 years that shows we are not long off the bottom of the market for most suburbs.
Taking into account the years of declines in property values, the nett gain over the 10 year period is nevertheless impressive for most areas.
And being not long off the bottom of the market, we have some significant growth to come – specifically as a result of renewed visitor interest, enhanced infrastructure (university, hospitals, NBN connectivity and planned airport expansion) and nett migration of baby boomers and young families for lifestyle reasons to this part of Queensland.
For this reason, it is the best time in a decade to sell, and the best time to buy before prices jump up, and to enjoy the long term capital gains to come.
SUBURB SNAPSHOTS
Houses in NOOSA HEADS
- Change in Median Price (5yrs) is 19.3%
- Annual Change in Median Price (10yrs) is 3%
Houses in NOOSAVILLE
- Change in Median Price (5yrs) is 29.5%
- Annual Change in Median Price (10yrs) is 3.9%
Houses in SUNRISE BEACH
- Change in Median Price (5yrs) is 23.7%
- Annual Change in Median Price (10yrs) is 2.9%
Houses in TEWANTIN
- Change in Median Price (5yrs) is 30.7%
- Annual Change in Median Price (10yrs) is 2.7%
Houses in NOOSA NORTH SHORE
- Change in Median Price (5yrs) is 97.6%
- Annual Change in Median Price (10yrs) is 12.3%
Houses in COOROY
- Change in Median Price (5yrs) is 12.6%
- Annual Change in Median Price (10yrs) is 2%
The only deviation on this is the tightly held Sunshine Beach – not because the market is not performing, but it has historically high values and is a more stable property market with lesser movement between highs and lows than other parts.
Houses in SUNSHINE BEACH
- Change in Median Price (5yrs) is -4.4%
- Annual Change in Median Price (10yrs) is 3.8%
If you would like to know more about the charts above or have a more detailed report on your suburb, please email or call me to discuss. Happy to take you through what is happening, what I am seeing as the trend and what might price be achievable for your property were you to sell today.