2015-08-18 Planning and Organisation Committee Attachment 1 to Item 8 AEC Noosa Economic Profile Final Report

Noosa Economic Profile
Final



4.        Property Market
4.1       Median House Prices
           Figure 4.1 shows the median house price in Noosa rose by an estimated annual average
            of 7.0% between 2001 and 2014. This is slightly lower than the State where the median
            house price was estimated to have grown by 8.2% annually on average over the same
            period.
           The median house price in the Shire has remained higher than the State between 2001
            and 2014. In 2014 the Median house price in the Shire was $481,410, while in the State
            was $405,000.
           The difference in the median house price between the Shire and the State in 2014
            ($76,410) was at its lowest in 12 years.

          Figure 4.1: Median House Prices, Noosa Shire LGA and Queensland, 2001 - 2014
                                   $600,000



                                   $500,000
          Median House Price ($)




                                   $400,000



                                   $300,000



                                   $200,000



                                   $100,000



                                        $0
                                              2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

                                                                    Noosa Shire LGA   Queensland

          Note: Median House Prices are for Attached and Detached Dwellings
          Source: QGSO (2015).


4.2       Mortgage Payments and Rent
           Median rents for flats/ units in Noosa rose by an estimated annual average of 5.7%
            between 2001 and 2014. This is slightly lower than the State where the median rents
            for flats/ units was estimated to have grown by 6.3% annually on average over the same
            period.
           Median rents for flats/ units in the Shire generally remained higher than the State
            between 2001 and 2006. Although from 2007 onwards, the median rent in the Noosa
            Shire has been equal to, or slightly below, that of the State (with the exception of 2014
            where median rents were $340 and $330 per week respectively).




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