Locals of Noosa and the Sunshine Coast have a fantastic opportunity to buy property at great prices right now.
According to Gordon MacVicar and Larissa Barton, owners of Mortgage Choice Peregian Beach and Noosaville, the recent pause in the influx of interstate buyers is making room for locals to upgrade and purchase properties.
“The interstate buyers aren’t here in the same numbers that they have been for the past three or four years,” says Gordon.
“The reason for it is that the property market down south has been a bit more subdued lately. Looking at the auction clearance rates for Sydney and Melbourne of 70 per cent, we generally observe when these trends are above 75 per cent – these buyers will start looking to the Sunshine Coast, but for now, there is value in the market and a great opportunity for locals to snap up property at a good price.”
And locals are taking advantage of this opportunity.
“In 2023, 70 per cent of the loans are for purchases and people are upgrading homes and getting real value,” Gordon states.
“Homes that were priced at $1.2 million are now going for closer to the $1 million mark. And we are seeing this from Cooroy to Coolum.”
But it’s not just the established homeowners who can benefit from the current market.
First-time buyers can find great value in the areas undergoing gentrification, like Gympie and Nambour.
“There are some solid opportunities in these areas,” Gordon explains.
“They’re the areas that first-home buyers can buy now. When we started the business seven years ago, traditionally, our first home buyers were buying in Tewantin, Peregian Springs, Coolum, but now you’ve still got the same amount of money to spend but they’re having to look for value in places like Nambour in Gympie because it fits more into their price point. It also means they’re qualifying for the government incentives as well like the first-home guarantee.”
If you’re a first-time buyer looking to get in on the action, Gordon’s number one tip is to get pre-approved.
“The time is now to get pre-approved and get into the market because once there’s a long pause or even a drop in interest rates, that’s when people who have been sitting on the sidelines for the past 12 months are going to be back in,” he says.
“Find out what you can borrow, and then you can go out and look with confidence. Real estate agents are going to take you more seriously if you’ve got pre-approval in place.”
At Mortgage Choice Peregian Beach and Noosaville, they’re here to help you find your dream property and leave the home loan to them.
“We’re locals and we employ locals in an industry where there’s a lot of people outsourcing everything overseas,” Gordon says.
“We’ve taken a different approach and we’ve got two offices in Peregian Beach and in Noosa. We’re intent on hiring locals, training locals, and working with locals. I think that sets us apart from a lot of other brokers and banks for that matter. If you’re looking to purchase a home, upgrade, or for a home loan review, we’re here to help.”
It’s an exciting time for the Noosa and Sunshine Coast community to take advantage of the current market conditions and make their property dreams a reality.
Don’t wait for the competition to catch up. Call Gordon and Larissa on 07 5474 4100 or visit their Noosaville or Peregian Beach office to book an appointment and start your property journey today.
Head to their website now for more information at www.mortgagechoice.com.au/larissa.barton/
