It has been holiday heaven again this summer in Noosa as thousands of visitors from all over the country heave been enjoying the magnificent weather and our beautiful beaches, river system and parks.
Leading Noosa real estate agency principal Tom Offermann said that while most are regular visitors who need no convincing of how special Noosa is, many first-time visitors fell in love with Noosa and saying they were going home to sell before moving here to live.
The juggernaut property market of 2020 continued unabated into January 2021 and is characterised by a very large number of buyers competing for a historically low number of available properties, Mr Offermann said.
“This imbalance is of course driving prices higher, with Noosa recording approximately 15 percent capital growth for the past year topping the state.
“Buyers, many of who have missed out on multiple properties, are acting swiftly and decisively when a suitable property hits the market. Many properties are selling prior to being advertised.’’
Each of the Tom Offermann Real Estate agents are working with about 20 buyers searching for properties in all price ranges from Coolum to Noosa and out to the hinterland.
That’s more than 400 people ready to buy when they find the right property, and around a third of them are new to the local market.
“In 35 years I have never seen such an imbalance between buyers and available properties,’’ Mr Offermann said.
“I know it sounds like a cliche, however if property owners are thinking of selling there has literally never been a better time. We need properties in every price range and are achieving very healthy prices for owners.
“There is no foreseeable reason ahead for the market to slow down except perhaps affordability, there are just no dark financial clouds on the horizon and super low interest rates that are forecast to stay low for years are fuelling the market.
The first major sale of 2021 was an apartment in the highly regarded Hastings Park complex which Luke Chen and Tom Offermann listed for $8,200,000.
That was just before New Year’s Eve and was sold within four days within a whisker of the asking price.Â
The three-bedroom, three-bathroom 298sq m apartment in Hastings Street is one of nine on the side of the hill and has shimmering views out to the ocean and across Main Beach.
“The owner bought it for $760,000 through us 27 years ago, banking a tidy profit and a quarter century of priceless Noosa memories,’’ Mr Offermann said.
They have been wonderful clients and it is fond relationships like these that make working in this industry such a joy.
“As expected, the unit sold fast because we have a cluster of about 15 high-end buyers who have been waiting for properties of this calibre to become available.
“Many of them have missed out at some of our recent auctions, so they are ready to act immediately.
“After just four days the contract was signed by buyers introduced by Eric Seetoo who had been working with them over the past year, waiting for exactly this type of property.
“The wait and search goes on for the other buyers.’’
HINTERLAND IN DEMAND
The new year has started strong with continuation of the extreme Noosa hinterland demand we saw in the second half of 2020.
Wythes Real Estate director Sirah Robb reports: Although we don’t have a crystal ball, all signs point to a very positive year ahead for our local hinterland property market.Â
The spotlight COVID-19 put on the link between the great outdoors, self-sustainability and wellbeing bodes well for our region with our homes featuring ideal outdoor spaces, large gardens and proximity to a vast array of desirable recreational activities.
Cooroy, Doonan and Eumundi median house price growth was 13.7 percent, 16.3 percent and 16.5 percent respectively in 2020 and it is predicted most Noosa Hinterland suburbs will experience double digit growth this year.
Successful applicants for a rental property liken it to winning the lotto at the moment. This trend of rising rents and rental property supply shortage is predicted to continue in 2021. With higher yields and record low interest rates, investment purchases will grow.Â
A combination of the lowest number of properties we’ve had for sale in many years and the high volumes of buyers inspecting, making offers and missing out on purchasing their dream home, will see our sales market as hot as ever in 2021. Those who sell and buy earliest will benefit the most.
Lifestyle factors and flexible working arrangements will continue to drive the move from beachside, congested cities and interstate to our regional towns.Â
Suburbs previously at the top of buyers wishlists will become out of reach for a proportion of those wanting to move here. With rising median sale prices for suburbs like Doonan ($1.035m), Eumundi ($792,500) and Cooroy ($630,000) it is predicted that more affordable hinterland suburbs a 10 to 20 minute drive from these locations will subsequently experience significant growth in demand and median house price.
Savvy hinterland sellers will be thinking a step ahead and appreciate the importance of also working with their agent to find their next property so they are prepared when a quick sale presents itself.
In contrast to the market crash predictions voiced in some headlines last year, it is predicted that this will come full circle in 2021 and a focus will be put on growing rental and ownership affordability issues. This change in focus is anticipated and hoped to fast-track important affordable housing solutions for our region.
In 2021 those fortunate enough to call the Noosa hinterland home have a great deal to be positive about and grateful for. All of which will continue to drive the demand for our property market in the year ahead.
NO HALF MEASURES AT THE QUARTERDECK
The most outstanding thing about the property at 24 The Quarterdeck, Noosa Heads, is the view.
“There was an extremely strong reaction to the property ,’’ marketing agent Melanie Butcher of Laguna Real Estate said. “Overwhelming.
“Without exception, everyone said ‘wow’.
“It was marketed in the height of Christmas-New Year yet it is so quiet and peaceful up at The Quarterdeck.’’
The three-bedroom, two-bathroom house with pool was scheduled to go to auction this Saturday.
However, multiple offers have seen it sell prior to Brisbane buyers.
Interest was a mixed bag with strong local inquiry and an excellent response from interstate.
While the house was a Sunshine Coast award winner in 1980, everyone acknowledged it was in good condition, Melanie said, and was of excellent construction.
Going to auction this Saturday at 10am is the three-bedroom, two-bathroom apartment 8/293 Weyba Rd, Noosaville.
“We are getting strong inquiry,’’ Melanie said, “including a lot of FaceTime viewings from interstate.
“Open houses have been strongly attended.
“The apartment offers the option of holiday rentals, permanent rentals or permanent living.
“What separates it from a lot of apartments is the lock-up garage and storage.
“There are high ceilings, large rooms, a northerly aspect and a 150m walk to Noosa River.’’
SUN SHINES AT NOOSA WATERS
The Friday afternoon sun was shining down on 9 Genoa Ct, Noosa Waters, as Dean McLure of Richardson & Wrench Noosa took the four-bedroom, two-bathroom house to auction.
There was a huge crowd of neighbours, bidders and on-lookers, Dean said, and multiple registered bidders stood with paddle in hand as Gordon Macdonald called for the opening bid.
The bidding started at $900,000, quickly jumped to $950,000 and then $1million as two bidders went head-to-head.
Both bidders drove the price to $1.1m before a third gentleman announced his presence strongly with $100,000 increase, sending the level to $1.2m.
The opening bidder wasted no time jumping back in at $1.25m at which bidder 3 responded back with another $50,000 increase.
In a matter of moments the property had hit $1,360,000 then with the auctioneer calling it through three times and no further increase the property sold under the hammer to the bidders who got the auction under way and refused to be beaten.
“The successful purchasers could not be happier with their new dream home,’’ Dean said. “It was a special moment to be a part of and certainly one of the best auctions I have had the pleasure of conducting.’’
CAMPAIGN COMES TO A HEAD
Noosa Estate Agents are extremely excited to be holding a combined off-site and on-line auction this Wednesday evening at Heads of Noosa Brewing in Noosaville.
Working alongside Gordon Macdonald from the Auction Group, marketing agent Nathan Howie said the three apartments 1, 2 & 3/63 Noosa Pde, Noosa Heads, would be presented in one line.
There is one three-bedroom, two-bathroom apartment, and two two-bedroom, two-bathroom apartments on 611sq m with a pool.
“With current Covid restrictions on interstate and International buyers, we feel that this opportunity will give those from abroad to be part of this unique opportunity to secure a block of units in the heart of Noosa Sound,’’ Nathan said.
“Heads of Noosa Brewing is an Australian independently owned craft brewery that will be celebrating its second birthday next month.
“When planning the brewery, founders and brothers, Craig and Lance Masterton, looked far and wide in search of the best site, equipment, expertise and practices to produce the best product for their customers.’’
AUCTION ACTION
AUCTION results
Noosa Heads
126 Sebel, 32 Hastings St: 1bed, 1bath beachside apartment, 1pm, Frank Milat 0438 528 148 Shane McCauley 0403 646 930 Richardson & Wrench Noosa. Passed in, negotiating with two parties
1/30 Grant St: 2bed, 1bath, 1car townhouse, Rick Daniel 0411 737 767 Richardson & Wrench Noosa. Sold prior
Noosa Waters
9 Genoa Ct: 4bed, 2bath, 2car house, 3pm, Dean McLure 0499 270 691 Richardson & Wrench Noosa. Sold at auction $1,360,000
Tewantin
103 Goodwin St: 4bed, 2bath, 2car house on 743sq m, 12pm, Rick Daniel 0411 737 767 Leanne Southwell 0423 955 624 Richardson & Wrench Noosa. Sold prior
Noosa Waters
6 Mermaid Quay: 4bed, 2bath, 2car waterfront house, pool, jetty, Sam Plummer 0412 585 494 Scott Cowley & Kelsie Melville 0414 544 420 Noosa Estate Agents. Bidding from $3m, passed in $3.3m and negotiations continuing
SATURDAY, January 23
Noosa Heads
24 The Quarterdeck: 3bed, 2bath, 2car house, pool, Melanie Butcher 0407 379 893 Laguna Real Estate. Sold prior
Noosaville
8/293 Weyba Rd: 3bed, 2bath, 1car apartment, 10am, Melanie Butcher 0407 379 893 Laguna Real Estate
Sunshine Beach
39 Weyba St: 4bed, 3bath, 2car house, 1pm, Anita Nichols 0434 236 110 Laguna Real Estate
WEDNESDAY, January 27
Noosa Heads
1, 2 & 3/63 Noosa Pde: One 3bed, 2bath apartment, two 2bed, 2bath apartments on 611sq m, pool, in-rooms and on-line auction 5pm, Heads of Noosa Brewery, off-site auction, on-line platform for the interstate buyers at 85 Rene St, Noosaville, 5pm, Nathan Howie 0414 424 333 Noosa Estate Agents
THURSDAY, January 28
Noosa Heads
304 Maison, 5 Hastings St: 1bed, 1bath, 1car fully-furnished, beachfront apartment, 12pm, Gillian McCauley 0467 600 009 Kym de Warren 0412 325 421 Richardson & Wrench Noosa
17 On The Beach, 49 Hastings St: 1bed, |bath, 1car beachfront apartment, 1pm, Frank Milat 0438 528 148 Shane McCauley 0403 646 930 Richardson & Wrench Noosa
Noosa Heads
6/39 Noosa Pde: 3bed, 2bath, 1car apartment, 2pm, Frank Milat 0438 528 148 Shane McCauley 0403 646 930 Richardson & Wrench Noosa
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