Ray White Peregian

What’s happening in your market? The market continues to show strong signs of improvement, as we transition from summer to the next quarter, with some extremely strong sales and great activity on our active auction and private treaty campaigns. We are currently experiencing a significant amount of enquiry across the board and expect some excellent results to follow. Based on the activity in the start to the year, along with some very positive commentary by market analysts, and the increase in buyer confidence, and some loosening in lending restrictions; 2020 has been looking like a great year to sell. We are seeing lots of buyers re- enter the market after a slower 2019, particularly fromBrisbane and Sydney; and with the Sydney andMelbourne markets experiencing very buoyant conditions, we are likely to also experience an increase in turnover due to buyers from those areas seeking a coastal lifestyle. The only real negative in the foreseeable future, is the predicted economic fallout from COVID-19, which is an unfolding story; the stock markets have been in free fall globally, though the property market, at this stage hasn’t reacted. We do know from experience, that people tend to act in a more cautionary manner when there is any type of economic uncertainty, even in an area like Noosa where future price growth is inevitable. However, Australia is very vulnerable to a weakened Chinese economy, and the signs that this event will have serious economic consequences cannot be ignored. The volatility of the stock market is evident, and property is still considered a much safer long-term investment; so in comparison, we are still hoping that this sector will emerge relatively unscathed. Thank you again for your ongoing support, we look forward to keeping you up to date throughout the course of 2020. Robbie Neller Principal, RayWhite Peregian