Queensland’s tight residential vacancy rates appear to be stabilising with minimal movement over the past quarter, according to the Real Estate Institute of Queensland’s (REIQ) September 2021 Residential Vacancy Report.
Regional areas logged the tightest vacancies, including Maryborough (0.1%), Tablelands (0.2%), Southern Downs (0.2%), Gympie (0.2%) and South Burnett (0.3%).
Noosa’s rentals have been consistently less than 0.8 percent for the past 12 months, having tightened from 2.4 percent in June 2020 at the start of the Covid-19 pandemic.
REIQ CEO Antonia Mercorella said declines in vacancy rates may have stabilised overall, but owner-occupiers were still active in the market and buying up residential property.
“This puts owner-occupiers in competition with potential investors in the property market,” Ms Mercorella said.
“In addition, some investors are taking advantage of high capital growth and making a decision to sell their existing properties, which is exacerbating the limited supply of rentals.”
Ms Mercorella said migration from interstate, the return of foreign expats and the popularity of Queensland’s regions had put pressure on residential vacancy rates.
RUSH TO SUMMER
It’s six weeks to Christmas Eve and the earnest desires of many wanting to enjoy the festive season by moving or investing in this idyllic sub-tropical paradise, have been added to the FOMO effect.
Last week’s auction and pre-auction results are testament to the Tom Offermann Real Estate team, which made many of those real estate dreams come true.
The Jesse Stowers-listed apartment 27 at Noosa Pacific, 24 Munna Cres, Noosaville, attracted much interest from Sydney, Canberra and Victoria during the campaign.
Yet on the day from the six registered bidders, and an opening bid of $2.4m, the two highest bidders, both from Sydney, fought it out until it was declared sold at $2.855m.
Jesse had another successful outcome, this time apartment 310 at the French Quarter, 62 Hastings St, Noosa Heads, with six registered bidders and a Victorian buyer paying $1.055m – a new record for a one-bedroom apartment at the French Quarter Resort.
Local families longing to live close to the beach were out in force at Eliza Coppin and Peter TeWhata’s listing of 72 Mahogany Dve, Marcus Beach. It was sold under the hammer for $2.15m.
Peter TeWhata’s listing of 11 Cooran Ct was passed in, but given the popularity and sage investment opportunity on Noosa Sound, it won’t last long.
Sold prior to last weekend’s auctions: The Jesse Stowers-listed apartment 2/165 Gympie Tce, Noosaville;
Richard Locke-listed apartment 15 at Noosa Pacific, 24 Munna Cres, Noosaville.
Sold prior to this weekend’s auctions: Nic Hunter-listed apartment 4 Little Cove Court, 2 Pandanus St, Noosa Heads;
Mal Cox and Peter TeWhata’s listing of beachside 57 Orient Dve, Sunrise Beach. The four-bedroom, four-bathroom house with pool went to Brisbane buyers captivated by the beach and ocean views.
GAME, SET AND MATCH
It was a first for the auctioneer in his notable career when a beautifully manicured lawn tennis court was offered as part of the property at 26 Livistona Dve, Doonan, on Wednesday.
The quintessential Queenslander on 0.97ha featured five bedrooms, four bathrooms and newly-constructed 15m lap pool.
It was taken to the market by Mark Hodgkinson and Cassandra Young of Reed & Co.
During the campaign it attracted a mixed bag of interest – local and from interstate.
The presentation was exceptional, Mark said.
There were five registered bidders with a start at $2.3m and selling at $3.660m.
Mark and Cassandra now have a fully-renovated four-bedroom house with new shed on a 1230sq m block at Cooroy set for auction on Sunday, November 17.
Then on December 8 they will be taking a four-plus bedroom pavilion-style house on 1.5acres in Doonan to auction.
There was a huge response to the first open of the Cooroy property, Mark said.
The majority were local but some Brisbane interest as well.
It will be a good entry-point property for families and first home buyers.
KNOCK-OUT CONTEST
On Wednesday Adrian Reed and Darren Neal of Reed & Co took the one-bedroom, one-bathroom apartment 5/49 Noosa Pde, Noosa Heads, to the market.
“It was a good location so you can understand the interest,’’ Darren said.
“There were five registered bidders – locals and interstate – and a start in the mid $500,000s.
“Bidders kept coming back in, trying to land a knock-out blow with $5000 and $9000 bids, and it just wasn’t working.’’
In the end it was a buyer from New South Wales who picked up the keys by offering $671,000.
LOCATION COUNTS
Kate and Tony Cox of Reed & Co had four offers at the start of the week for 7 Habitat Pl, Noosa Heads, which was due to go to auction this Saturday.
Three of the offers were local and the fourth from Sydney for the four-bedroom, three-bathroom house with pool on 2100sq m.
Yet an offer from locals who had missed out recently in same area managed to stop the auction with an offer of $3.2m.
“They just loved the location,’’ Kate said.
“Locals are wanting one-level living on a large block … that’s what it was and what attracted them, as well as having a pool.
“All those who presented offers had a rural background.’’
WEDNESDAY SUCCESS IN EUMUNDI
Jeanette Catalano and Mario Catalano of Hinternoosa met with auction success in Eumundi on a Wednesday.
The four-bedroom, two-bathroom house on 9119sq m at 1-15 Bush Tucker Ct, attracted 56 inspections in the two-and-a-half week auction campaign and seven registered bidders on the day.
“It was a great auction,’’ Jeanette said. “There were 19 bids from $1m up to the sale price of $1,615,000.
“The eventual buyers lives here on the Coast, and wanted a bit of acreage.
“They loved the spot and the opportunity to build a second dwelling if they decide.’’
THAT’S NOOSA ALL OVER
Gillian McCauley and Kym de Warren of Richardson & Wrench Noosa had 175 inquiries in the lead-up to last Friday’s auction of 30 Noosa Shores, 86-88 Noosa Pde, Noosa Heads.
Interest came from all over, Gillian said, local, interstate, New Zealand and further.
On the day there were 15 registered bidders for the two-bedroom, two-bathroom fully-furnished apartment on the top floor and north-east corner of the riverfront complex.
There were 23 bids on the day, finally selling for $1.595m to Brisbane buyers.
COASTAL VIEWS TO NOOSA HEAD
With fabulous coastal views north to Sunshine Beach and Noosa Head, the four-bedroom, two-bathroom house at 14 Barra Cres, Coolum Beach, is attracting plenty of interest ahead of Saturday’s auction.
Melanie Butcher at Laguna Real Estate is taking the architect-designed house to the market at 11am.
“There are ocean views at the front for whale watching,’’ Melanie said, “and it’s an easy walk to the beach – perfect for a family to walk down.’’
Positioned at the rear of the block to get the best elevation, the house is also protected from the south-easterly breezes.
Melanie said the family had the house built because it was such a quiet street and three generations have enjoyed it over two decades.
Features include beautiful old timber floorboards, good separation of bedrooms and two north-east facing decks – one off the family room and the other off upper-level living room.
There is a double lock-up garage with separate lockable storage underneath.
Early interest was from all over Australia, Melanie said, with local buyers certainly showing up and inquiries from southern buyers as well as Brisbane.
“People are now realising they can work from anywhere.’’
Melanie said Coolum had come alive as a destination.
“The shopping is so active yet Coolum has not lost that family charm of holidays by the beach.’’
Melanie has recently sold the two-bedroom, one-bathroom apartment 60 Noosa Place, 28 Munna Cres, Noosaville, after it was listed at offers over $825,000.
There was a huge amount of interest in the top-floor apartment with a great offer from Brisbane buyers securing the property.
SIZE AND LOCATION
Roger Omdahl of Laguna Real Estate has been getting offers all week on the three-bedroom, one-bathroom house on 1058sq m at 18 Jacaranda Pl, Tewantin.
They included a strong Sunshine Coast offer at the weekend that is being considered by the sellers.
The interest in the property has been from locals, New South Wales and Central Queensland, Roger said.
“They like the land size, the privacy and the location … quiet yet close to facilities.
“It brings the opportunity to renovate or the rebuild because of the land and location.’’
The high-set house has hardwood floorboards throughout, an L-shaped front veranda and staircase with a return. It has been re-stumped on steel posts into concrete
and the main bearers have been replaced.
The large back yard part backs onto a reserve.
AUCTION ACTION
WEDNESDAY, November 3
Doonan
26 Livistona Dve: 5bed, 4bath, 2car house, pool, on 0.97ha, 11am, Mark Hodgkinson 0409 484 159 Cassandra Young 0499 934 190 Reed & Co. Sold at auction $3.660m
Eumundi
1-15 Bush Tucker Ct: 4bed, 2bath, 2car house on 9119sq m, 12pm, Jeanette Catalano 0422 923 851 Mario Catalano 0400 613 879 Hinternoosa. Seven registered bidders. Sold at auction $1,615,000
Noosa Heads
5/49 Noosa Pde: 1bed, 1bath, 1car apartment, Adrian Reed, 0409 446 955 Darren Neal, 0401 212 505 Reed & Co. Sold at auction $671,000
FRIDAY, November 5
Noosa Heads
30 Noosa Shores, 86-88 Noosa Pde: 2bed, 2bath, 1car, f/f riverfront apartment, 11am Gillian McCauley 0467 600 009 Kym de Warren 0412 325 421 Richardson&Wrench Noosa. Sold at auction $1.595m
SATURDAY, November 6
Marcus Beach
72 Mahogany Dve: 4bed, 2bath, 2car house, pool, Eliza Coppin 0423 726 639 Peter TeWhata 0423 972 034 Tom Offermann Real Estate. Sold at auction $2.15m
Noosa Heads
11 Cooran Ct: 5bed, 3bath, 2car house, pool, Peter TeWhata 0423 972 034 Tom Offermann Real Estate. Passed in, negotiations continuing
Noosaville
2/165 Gympie Tce: 3bed, 2bath, 2car apartment, pool, Jesse Stowers 0414 367 282 Tom Offermann Real Estate. Sold prior
310/62 Hastings St: 1bed, 1bath apartment, Jesse Stowers 0414 367 282 Tom Offermann Real Estate. Six registered bidders. Sold at auction $1,055,000
7 Habitat Pl: 4bed, 3bath, 2car house, pool, on 2100sq m, Kate Cox 0438 695 505 Tony Cox 0402 003 773 Reed & Co. Sold prior $3.2m
27/24 Munna Cres: 2bed, 2bath, 1car apartment, Jesse Stowers 0414 367 282 Tom Offermann Real Estate. Six registered bidders. Bidding from $2.4m, sold at auction $2.855m.
SATURDAY, November 13
Coolum Beach
14 Barra Cres: 4bed, 2bath, 2car house, 11am, Melanie Butcher 0407 379 893 Laguna Real Estate Noosa Heads
14/12 Hastings St: 2bed, 2bath, 1car apartment, 10am, Peter TeWhata 0423 972 034 Tom Offermann Real Estate
14/140 Noosa Pde: 2bed, 2bath, 1car apartment, 1.45pm, Eliza Coppin 0423 726 639 Tom Offermann Real Estate
Noosaville
2/1 Ketch Pl: 3bed, 2bath, 2car townhouse, pool, 11am, Chris Miller 0412 894 542 Tom Offermann Real Estate
9/80-86 Hilton Tce: 3bed, 3bath, 2car riverfront apartment, pool, 1pm, Laurie Prentice 0418 727 817 Zinc Property
Tewantin
18 Jacaranda Pl: 3bed, 1bath, 1car house, 2pm, Roger Omdahl 0412 043 880 Laguna Real Estate
SUNDAY, November 14
Noosa Heads
4/2 Pandanus St: 2bed, 2bath, 1car apartment, pool, 10am, Nic Hunter 0421 785 512 Tom Offermann Real Estate. Sold prior
Sunrise Beach
57 Orient Dve: 4bed, 4bath, 3car house, pool, 11am, Mal Cox 0407 708 860 Tom Offermann Real Estate. Sold prior
21 McAnally Dve: 3bed, 2bath, 2car house, 12pm, Roark Walsh 0437 447 804 Tiffany Wilson 0468 922 519 Tom Offermann Real Estate
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