Quick Snips December 2011

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Economic forecasting and weather forecasting must be the only two jobs where there are no consequences to your job if you are wrong. I heard a radio discussion last week where the person looked back at 12 leading economists who made their predictions for 2011 back in January. Every one of the experts where wrong by between 20-40%. Then during September-October our weather forecasters started trumpeting another wetter than average summer just as we moved in to what turned out to be the driest November in a long time. Like a gambler trying to double up they continued to predict rain and storms throughout the four days of the PGA. If we keep listening to what these geniuses say we will all be broke and never even leaving the house. It just proves that no one really knows what is going on at the moment so why should we waste our time worrying about everything. Turn the TV and radio off, don’t read the paper or internet and if the sun is shining go to the beach. I am sure we will all feel so much better at the end of the day because I can guarantee that it has been really nice at the beach.

November has been a fantastic month for our local area. Two great events in the Golden Days Weekend Festival of music and surfing followed up by the best PGA yet. The contract for the PGA to be held at Coolum is up for review again in the new year but it would be very difficult to consider moving the event away from the Hyatt given the support it is receiving from the local community, the general public and the players. On top of that just about all accommodation providers are reporting bookings well above previous years throughout the whole of November and December/January is also looking very promising. It really is starting to look very promising for local businesses after what has been a tough year.

The new year will see us up for Council and State Government elections. There is a very strong tip going around that the state elections will be in February followed by the council elections in March/April. Anyone in business knows that elections of any kind do absolutely no favors to business activity so lets hope that everyone can make the most of our peak period through to the end of January. Our local council will be in for big shakeup with the current mayor and nearly half of all current councilors not seeking reelection. There do not appear to be any clear favorites for any position at this stage but there is still enough time for new candidates to come forward. The State and Federal levels of government appear to offer little hope or inspiration on either side of
politics. It’s a shame things have got to this point.

The Coolum Hotel redevelopment application has been generating plenty of attention. Comments ranging from those that think the scale of the development is inappropriate for Coolum to those that would prefer to see some shorter term or overnight accommodation built on the site rather than just more 2 & 3 bedroom apartments. This still has quite a long way to go. The new shops on Coolum Esplanade are very close to being ready for Christmas. The Baskins Robbins signs were going up yesterday and they should be open by Friday December 9. Red Rooster and a new coffee shop should also be in before too long.

Anyone that has tried driving along the David Low Way from the airport through to Coolum will know that they need to add a little bit of extra time for the trip due to the roadwork’s being undertaken. Thankfully the new roundabouts at Rex Terrace Marcoola and Birtwill Street Coolum are nearly completed and will be operational before Christmas. The Sunshine Coast Airport master plan took another step along the way to construction of a new East West runway. Funding for the Environmental Impact Study was approved last week by the Sunshine Coast Council. This will determine if there are any further impediments to the project. Subject to funding and a clear EIS construction of the new runway is scheduled to commence 2014.

Our first In Rooms auctions at Surfair in October have been very successful. 8 out of the 12 properties offered on the night have now sold. In this market that is an outstanding result. So we are following that up with our next In Rooms auction night to be held at Surfair on December 8 at 6pm. We have put together another great range of properties and the brochure has been included with this months end of month statements. If anyone would like to know more about how the auctions work or about any of the properties being offered please contact any of the sales teams in either the Coolum or Marcoola offices. Planning is already well underway for the next auction which will be held February 2.The auctions have proven to us that they are the right approach to sell and buy in this market. This market has adjusted considerably this year and in many cases prices that we consider to be very realistic are still not attracting any interest. The auctions are allowing sellers to find a level that buyers are willing to become active again and creating sales activity within a reasonable time frame. The main thing for everyone to remember at the moment is that you should not be on the market for sale if you don’t have a very good reason to sell.
On behalf of our sales teams we want to wish everyone a very safe and merry Christmas and lets go for a prosperous 2012.

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