SunshineCoastRegionalReport2ndQtr2004

PROPERTY MARKET
NOOSA SHIRE


PROPERTY MARKET OVERVIEW

 Noosa Shire recorded a 3.2% decline in median house prices in the March Quarter 2004, however strong
  growth in sales value was recorded in acreage sites in Cooroy. Tewantin remains the hot spot for house
sales activity. In the unit/townhouse market, the median sales price increased by 2.9% in the quarter, driven
                     by strong growth in the Noosa Heads and Tewantin property markets.

                                                         House and Townhouse/Unit Sales, Noosa Shire – March Quarter 2003
                                                                                         House Sales                          Townhouse Sales
                                                                            No.       Value ($) % change on Dec-03       No. Value ($) % change on Dec-03

                                      Noosa LGA                             184           418,750                -3.2    131    360,000               2.9
                                      Cooran                                  9           305,000                 -10     n.a        n.a              n.a
                                      Cooroy^                                 7           510,000                32.5     n.a        n.a              n.a
                                      Cooroy                                 10           292,000                  -7     n.a        n.a              n.a
                                      Noosa Heads                            14           612,500               -13.7     35    735,000              13.1
                                      Noosaville                             27           660,000               -11.1     43    315,000               1.6
                                      Peregian Beach                          7           457,000                -4.3     10    295,000             -37.2
                                      Pomona                                 10           291,500                -4.4     n.a        n.a              n.a
                                      Pomona^                                 9           395,000                -4.8     n.a        n.a              n.a
                                      Sunrise Beach                          13           600,000                 9.6       9   335,000              20.1
                                      Sunshine Beach                         14           818,400                 1.3       9   550,000              10.6
                                      Tewantin                               63           380,000                -2.6     23    210,000              22.6

                                      Note: n.a. – not available; ^ denotes large housesites (acreage).
                                      Source: REIQ


                          Median House Prices - Noosa
                                 % Growth 1997/98 - 2002/03                                         The median value of house prices in Noosa was 3.2% lower in the March
         Cooran
    Noosa Heads
                                                                                                    Quarter 2004 at $418,750 when compared to the December Quarter 2003.
        Pomona                                                                                      Sunshine Beach recorded the highest median house sale value at
         Cooroy^
        Pomona^
                                                                                                    $818,400, despite only recorded an increase in sales value of 1.3% over
  Sunshine Beach                                                                                    the quarter. Large properties in the Cooroy region recorded strong growth
          Cooroy
      Noosa LGA                                                                                     in median sales prices, experiencing growth of 32.5% in the quarter. The
   Marcus Beach                                                                                     number of house sales increased from 161 in the December Quarter 2003
       Noosaville
       Tewantin
                                                                                                    to be at 184 in the March Quarter 2004.
  Peregian Beach
   Sunrise Beach
                                                                                                    Median house prices in Sunrise Beach and Peregian Beach recorded the
                    0%   20%    40%     60%     80%   100%   120%    140%   160%   180%   200%
                                                                                                    most significant growth between the year ended March 1999 and the year
                                                                                                    ended March 2004, although all areas recorded growth of over 80%.


              Median Unit & Townhouse Prices - Noosa                                                The number of unit and townhouse sales in the March Quarter 2004
                               % Growth 1997/98 - 2002/03
                                                                                                    remained relatively steady at 131 when compared to the December
    Noosa Heads
                                                                                                    Quarter 2003 result of 129. The median value of unit and townhouse sales
      Noosa LGA                                                                                     in Noosa Shire was slightly higher (up by 2.9%) when compared to the
        Tewantin
                                                                                                    December Quarter 2003. Tewantin recorded the most significant increase
                                                                                                    in unit / townhouse prices (up by 22.6%), while Noosa Heads recorded the
       Noosaville                                                                                   highest median value for unit / townhouse sales during the quarter at
   Sunrise Beach
                                                                                                    $735,000.
  Peregian Beach


  Sunshine Beach                                                                                    Unit and townhouse prices in Noosa Shire have recorded more subdued
                    0%         20%        40%         60%           80%      100%         120%
                                                                                                    growth between the year ended March 1999 and the year ended March
                                                                                                    2004. The most significant growth in median unit / townhouse prices over
Source: REIQ
                                                                                                    the five year period has been recorded in Sunshine Beach which has
                                                                                                    increased by more that 100%.




©0, Sunshine Coast Regional Economy, Second Quarter 2004                                                                                                             - 33 -