If you are a regular reader of my column, you will be aware of my sentiments on the fact we are currently in the midst of a great buyers market. This is due to a feeling of caution connected to interest rate rises and the international economy. On Tuesday the reserve bank made the decision to hold the interest rate at 7.25 percent. This was widely expected by economists because although inflation is high, there are indications the previous rises are having the desired ‘braking’ impact. Regardless of what the rates do, I reiterate my belief that it is currently a great time to present offers to sellers on their properties. Robert Kiyosaki, the world renowned author and advocate of property investing as a means to wealth creation, lists purchasing in a ‘flat’ market as one of the keys to his success. The sentiment is that you make money ‘when you buy’. We are lucky to be dealing with some very realistic sellers who are aware of the market conditions and willing to negotiate. The other key factor is that Noosa still rates in QLD’s top performing suburbs. A recent newspaper article including REIQ statistics mentioned that prime locations are the key to success, with several Noosa suburbs ranking in the top performers for growth over the past 12 month period. Noosa is as stunning a location as one could ask for, our waterways, lakes, beaches and golf courses give us a level of desirability that defies larger market cycles. We will continue to see price growth and demand for the unique product we offer. Whether you are in the market for land, houses or units, my tip is to start looking and talk to your agents. They will be able to fill you in on the great value at hand.
Till next week,
Olivier