We are currently seeing a marked and direct correlation between the number of visitors to our open houses and the placement of advertising in The Noosa News on a Friday and Tuesday.
In the last couple of weeks alone we have taken three contracts on properties at the actual open house. The benefit of advertising is that it seems to draw the qualified buyers’ attention to the property, as well as attracting a potential sale from locals or browsers. We take a huge amount of time to get our advertising presentation to the highest possible standard, so it’s always a reassuring feeling knowing our ads are eliciting the right response.
The other trend to be emerging this year is the research the serious buyers are doing and the methodology of the actual property purchase – the buyers have done all of the legwork before they view the home, they have extensive stats to work with and they are aware of the competition in the marketplace. When they get to the inspection stage, they have a shortlist and are usually ready to make a decision on the spot, with finance etc in place.
The buyers in the market at present are making immediate purchases from $500 00 up to the 1 million dollar mark, as mentioned in previous weeks we are seeing heightened listing and sales activity. In fact this middle market is showing strong presence that has been missing over the last 18 months. There are investors about, but a large proportion of the buyers are self funded retirees (nationally and internationally) and local buyers who are now upgrading, especially in the million dollar price bracket.
It goes without saying that our top end of the market in Noosa remains very strong.
As a footnote, the interest rate hype inundating the media at present has not seemed to affect us as sharply as perhaps in other regions. However, if you are feeling the pinch of the rising interest rates, it may be timely re evaluate your options and shop around for a better deal – the banks still want your business! Advice from a professionally qualified financial adviser on the best strategy could be worth its weight in gold for both stress and savings in the long run.
Till next week
Olivier