Bob Hope
We hope everyone had a very happy and safe Christmas and we wish you all a Happy New Year for 2011. We would like to give a special thank you to Andrew Smith, Nick Fitzgerald, Nina Lynch-Doyle and Ray and Val Brown for their efforts in maintaining all areas of their tenancy throughout 2010 and to their landlords for their lovely gifts of acknowledgement.
Kim would also like to thank all those tenants not mentioned, yet no less deserving .... “maybe your turn will be next year”.
Much of 2010 was spent analysing the effects of the global financial crisis and its impact on local property values and subsequently sales. It is difficult to accurately predict the future of residential property values, however, with the evidence at hand it is reasonable to assume that there will be a modest (albeit almost indiscernible) recovery during 2011.
Unfortunately, many coastal towns have suffered significant capital value declines over the past 12 – 24 months as investors who perhaps borrowed more than they should have become ‘unstuck’. With an increase in ‘mortgagee in possession’ sales and a seemingly never-ending supply of desperate vendors; buyers have found themselves in the box seat – being able to drive a hard bargain and negotiate a sale price often well below what would’ve been reasonably considered as a ‘fair price’. The fact is however, the market value of a property is always going to be what someone is prepared to pay for it – even if that figure is below that which a bank or certified Valuer calculates.
Rainbow Beach properties for sale are also competing against hundreds of comparable properties along the east coast of Australia. Houses and units from Airlie Beach in the north to Peregian Springs in the south of Queensland are being advertised at discounted prices often with guaranteed returns and other incentives attached.
Fortunately, we have a point of difference, being our unique location and natural attractions. We may not be able to offer as high a return on investment as metropolitan areas; however, we can boast proven capital growth over time as well as a fantastic lifestyle investment. Rainbow Beach has become a destination in its own right.
There are also a number of indicators that point towards favourable property conditions and increases in property values over time. There has been positive government spending on infrastructure within the south east corner of Queensland (including the upgrade of the Bruce Highway between Cooroy and Curra). In addition there is a significant predicted increase in population of nearby Gympie and the resources boom is gaining more momentum in our region.
Best wishes to everyone for 2011 and we hope that this year brings prosperity to all.
