Welcome to R&W Noosa Holiday Management News Update,
It has been exciting to see a big increase in activity around Noosa last month, the combination of special events such as Noosa Alive and the school holidays, Hastings Street was abuzz with festival goers and family holiday makers all keen to share the Noosa experience. It was certainly pleasing to have reviewed our July 2018 occupancy results and note a 10% increase in comparison to July 2017 results. School holidays are now over, but there are still good tourist numbers in the area, thus we are expecting solid results again throughout August.
Air New Zealand has resumed flights direct to the Sunshine Coast airport. Up to four flights each week operate between Auckland and the Sunshine Coast between July and October. Air NZ reports that 44,240 seats are available over this period.
Proposed Changes to Holiday Letting Legislation
The headline in the 13 July Noosa News read ‘Noosa leads on short-stay policy’. This response from the Noosa Council is a move to be included as a stakeholder in a state reference group established to consider regulation around the online short-term letting industry.
We met with the mayor in July to express our interest as local stake holders in this process. Our key objective is to distinguish professionally managed holiday properties (like the properties we manage) from independent managed Airbnb and Stayz properties. It appears the catalyst for policy review is to implement policies to shut down ‘party houses’. Currently there are a number of restrictive and punitive measures under discussion. As a professional manager R&W are advocating that properties we manage be excluded from these measures.
The mayor has asked us for our input and agreed to review this with a view to raising the local industry concerns with the state reference group. We will be meeting with a number of our contemporaries this month to formulate relevant strategies and provide a document outlining our reasons to be excluded from proposed legislation.
As our summer season is fast approaching now is the time to start planning your ‘Spring Cleaning’. Due to the logistics of completing these cleans with a minimum down time and no disruption to bookings, and to ensure properties are in top condition prior to the busy high season, we plan to undertake Spring Cleaning in the next month.
This is an opportune time to check and top up stock levels of glassware, crockery and cutlery. From time to time breakages occur and mismatched items somehow find their way into a property. As quality presentation is important to guests, and in order to maintain the high standard of your investment, these small touches can make all the difference.
Noosa Tourism recently hosted an information night with experts sharing the importance of refreshing and renewal of holiday properties. We would encourage you on your next visit to take a critical look at the furniture and fitout of your property and consider any appropriate upgrading.
Shane McCauley’s Sales Market Report
I have just been reading how Australian property prices have experienced the largest annual fall in value since 2012. Sydney was the biggest loser with a drop of 5.4%, with Melbourne also experiencing a decline. In comparison Noosa property prices are still growing. In 2017 our median house price was $915,000 and units $575,000. That has grown to now being $1,050,000 for houses and $670,000 for units. With a genuine lack of stock to sell, this trend looks to continue, and with spring around the corner there are exciting times ahead. A fantastic spring auction is about to hit the internet in Fairshore. Top floor, northeast corner. Let me know if you would like to know more.
As a courtesy we always offer our readers a free appraisal of their property, to let them know the new value in this market. If you would like to utilise this service please give me a call on 07 5447 4499 or email [email protected]
Tariff ReviewsLater this month we will be setting up the 2020 seasonal calendar and commencing our annual tariff review. The tariff review will consider occupancy, property improvements and competitive property comparisons.
Our tariff changes are strategically timed to ensure that the new rates will be applied to next year’s Sept/Oct ‘High Season’ period.