Wednesday, April 6, 2011

Has Noosa lost its Mojo?

Julianne and I have spent time this week wandering the streets of Noosa Heads, Noosa Junction and Gympie Terrace. I have never seen so many empty shops and For Lease signs. We were walking to Hastings Street this morning for a coffee and bumped into an estate agent fixing his just-blown-down a-frame outside his office. Bright and cheery, he engaged in a conversation about the market and he admitted that if you owned property in the area and wanted to sell, then price would be an issue. 'But' he added ' this is just a part of the cycle of real estate'. Persistent rain in the South East of QLD, the floods in January and the incredibly strong Aussie dollar (sending holiday dollars OS) have all conspired to keep people away. And that real estate agent is correct. There are a lot of bargains to be had in the area. Noosa over the years has been characterised by continually rising real estate values. Each year brought new records and hushed conversations about 'this house' and 'that apartment'. Well...those conversations haven't stopped. They just have a different theme. But, I agree with the view expressed above. This is just the usual adjustment that follows years of capital growth. The greeting when you walk in a shop or talk to a local is still as bright and friendly as ever. They all see this situation as temporary. If you have some money and want to 'buy at the bottom', spend it at Noosa because their infectious goodwill and wonderful lifestyle will see those hushed conversations turning to WOW conversations in the not-to-distant future.

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