Sunshine Coast house values in decline as real estate agent reveals the market in big trouble

Three Sunshine Coast and Noosa real estate agents reveal how they’re bringing the buyers in despite a dip in the market as rental squeeze tightens.

Real estate agents say sales remains strong in the Sunshine Coast and Noosa regions despite median house prices decreasing in the past quarter.

REA Group figures showed that in the Noosa region, the median house price decreased 3.6 per cent and in the Sunshine Coast it decreased by 2.6 per cent.

This was off the back of an increase in the median house price in the past 12 months in Noosa of 36.8 per cent and 29.3 per cent on the Sunshine Coast.

The median sale price in the past 12 months for Noosa was $1.32m and for the Sunshine Coast it was $970,000.

One real estate agent in Noosa said the rental market was “crippled”.

Countryside Realty Noosa real estate agent Eliot Krause has worked in Cooroy for the past seven years and said he had not seen a slow down in activity.

Real estate agent Eliot Krause says he has not seen a slow down in activity.

However, he said the business had also changed its marketing tactics and was listing prices to entice buyers when last year it was not needed.

“We’re appraising properties a little more conservatively than what we were but we’re telling vendors not to expect much of a price change or drop,” Mr Krause said.

One real estate has changed its marketing tactics since last year to entice buyers. Picture: Brett Wortman

The real estate agent said most of the sales from the past two years were buyers from Noosa and Coolum Beach who had sold to others from southern states.

“Southerners were focused on the coast and then locals were focused on the hinterland,” Mr Krause said.

Grant Baker of One Agency in Noosa said the ownership market had stabilised.

“The rental market is the one that is really crippled,” he said.

The real estate agent said according to his data there were 65 homes for rent in the immediate Noosa area, which included Noosa Heads, Noosaville, Tewantin and the eastern beaches when this time last year there were 84 available rentals.

Grant Baker says the rental market in the immediate Noosa area is “really crippled”.

In the Sunshine Coast, First National Real Estate Coastal principal Paul Angell said his real estate was achieving good results on reduced inquiries.

He said his agents had noticed a drop in the number of inquiries in April, and some homes were still selling above and others were selling below the asking price.