Alex Harris

So they do have a theoretical cap on population just to manage our water supplies and roads and so on.

New people are still coming into the area as some people leave.

You know, there is that turnover of property.

It is a fair comment for Sunshine Beach, but there are other parts of Noosa like Noosaville, which are much more affordable and have family homes in the mid one millions.

And that's still very cheap for Southern buyers.

The other point I'd like to make out is even though the interest rates are increasing, a lot of our buyers are cash buyers because they're selling in Melbourne or Sydney and coming to Noosa, buying a beautiful family home for mid one nines and pocketing a million dollars.

So it's not all bad news for buyers.

Yes.

Even though the market has slowed and properties are sitting on the market longer, we're still around that 50 days, which is very much a balanced market.

It's not anything to be scared about for sellers and certainly for buyers.

It gives them more choice with more properties on the market.

But all those predictions of doom and gloom and 30% and 40% price crashes from those so-called experts, they were wrong in 2020.

They're wrong now.

And the reason is we have such strong demand and such

strong northern migration still, and no new land.

So the only thing that can happen here is that balance of supply and demand.

And at the moment, we still have demand outstripping supply.

Yes, it's actually affected our rental market as well.

So a lot of our landlords through the COVID lockdowns down south actually moved into their rental properties here, whether they be holiday homes or permanent rentals.

So we lost a lot of properties out of the rental market.