The Noosa real estate market has experienced a significant transformation since the pandemic lockdowns in 2020.
The shift to remote work has allowed more people to choose their desired location, leading to increased demand for coastal communities like those in the Noosa region.
As a result, median house prices in Noosa Heads, Noosaville, and the eastern beaches have risen by approximately 100 percent in the five years leading up to September 2023. Tewantin has also seen a considerable increase of around 70 percent.
Leading principal Tom Offermann believes that contrary to concerns about a property market downturn, the impact of borrowing costs has been mild.
In the second half of 2023, prices resumed their upward trajectory. The influx of immigrants further compounded the shortage of available properties and helped offset the interest rate rises. Property owners, on the whole, seem to be financially secure, and many anticipate that the interest rate cycle has peaked, with potential rate reductions on the horizon for 2024.
“Buyers who hesitated earlier in the year due to market uncertainties are now rejoining others who remained active throughout,” Tom Offermann said.
“However, available properties have remained scarce for the past couple of years, with property owners reluctant to sell.
“Some aim to avoid capital gains tax, while others simply struggle to find alternative accommodations. Overall, these factors indicate another positive year for residential property owners in 2024 and beyond.”
The prestige sector within Noosa serves as a good indicator of the overall market.
In 2023, there were 15 properties sold for over $10 million, four fewer than the previous year, primarily due to limited availability, Tom Offermann said.
“Our team had the privilege of handling over 80 percent of these premium sales, including the top three.
“Auctions have become the dominant and most effective method of sale.
“Clearance rates generally range from 70 percent to 80 percent, with most unsold properties finding buyers within two weeks post-auction.
“Buyers have embraced this method and understand the need to arrange their finance in advance to participate effectively. Unconditional contract terms favoured by auctions are appealing to sellers, and the competitive nature ensures fair and transparent outcomes, resulting in the best prices for sellers.
“As the festive period continues, we look forward to more friends and clients arriving from the southern states, and elsewhere including overseas, for a well-deserved holiday, in a safe environment with abundant natural assets, the world’s most accommodating climate, and a friendly community.
“Our outlook for the Noosa property market remains unwaveringly positive in both the short and long term.
BIGGEST RESIDENTIAL SALE FOR 2023
Queensland’s biggest residential property sale of 2023 has been inked in a hush-hush deal understood to be worth $28 million, making it the state’s third highest home sale in history.
Commanding the most spectacular presence with explosive views of the Coral Sea, this monumental 3520sq m foreshore estate with a 62m beach frontage at 33 Ross Crescent in Sunshine Beach last sold in 1987 for just $200,000.
COVERS SELL
It’s true, you can judge a property by the cover when it appears on the Noosa Today Property Guide.
Such was the case for locals who saw the featured charismatic Mediterranean-inspired, 4 Tangmere Court, Noosa Heads, listed by Tom Offermann Real Estate agent Nic Hunter. They hot-footed it to the secure gated estate with only 32 properties – it was love at first sight and they purchased prior to auction.
Similarly, locals who have been on the property hunt for some time, found their desired townhome 2 at 11 Angler Street, Noosa Heads, listed by Tom Offermann agent Nic Hunter. With other registered parties, they had their fingers crossed at the auction and were very excited when it was sold to them for $2.75m.
ARCHITECTURAL ELEGANCE
It’s an awesome house – a tribute to the quality of ’80s architecture and in an idyllic location.
The four-bedroom, two-bathroom, three-car house on 1200sq m at 69 Podargus Pde, Peregian Beach, goes to auction at 10am Saturday, 20 January.
Tracy Russell of Tom Offermann Real Estate said the house was a testament to good design, and being set on a double block backing onto national park.
“Built of double brick, the design means there is such volume in the living spaces … cathedral-style entry, high timber ceilings, suspended concrete flooring and a gorgeous fireplace.
“It is very private from the street as well as having the national park backdrop.’’
The first open house saw 22 groups through – mostly locals and from Brisbane.
Tucked away in a well-established residential street with neighbourhood traffic only, it is eight minutes walk by the track to the beach.
At the same time locals are understanding the value and the charm of the village.
The 510sq m double-storey residence features a seven-metre, floor-to-ceiling glass void at the entry.
There is excellent separation of living as well as providing versatile options – a 7.3m by 3.3m studio/multi-purpose room with its own external entry could suit guest accommodation or work-from-home; and there is also the possibility of creating dual living for the extended family.
Features include slate flooring, internal brick walls, sash windows, skylight, and raked timber lined ceilings. As well as the fireplace there are fans and air-conditioning.
Tightly held for more than 20 years, and once occupied by the home’s builder, this is a home with an interesting narrative and an exciting future.
LOCATION AND STYLE
An architect-designed townhome at Noosaville offers style as well as location close to Noosa’s waterways, shops and restaurants.
The three-bedroom, two-bathroom town home with pool at 4/28 Nannygai St, Noosaville, is for sale at offers over $1.995m.
Warren Evans of Laguna Real Estate is marketing the property in conjunction with Melanie Butcher.
“It’s a fabulous property,’’ Warren said. “Private, comfortable and with great street presence.
“This is a wonderful house alternative, with the main bedroom downstairs that has ensuite and walk-in dressing room.
“There is a private, north-east facing deck that goes onto the lap pool and garden area.
“You get water views from the upstairs balcony.’’
Early interest has been from country New South Wales as well as Brisbane, and locals who love the area.
An expansive living area features very high ceilings and polished blackbutt flooring while the kitchen comes with Calacatta-style Caesarstone benchtops and butlers pantry.
Sliding glass doors open to the patio and lap pool.
It is one of four free-standing homes in this stylish complex, and is rented at $1155 per week.
PRIZED POSITION
Caitlyn McConnell at Sunshine Beach Real Estate has a tightly-held residence at 45 Sobraon St, Sunrise Beach, for sale at offers over $3m.
The four-bedroom, three-bathroom house with pool is on the eastern side of Sunrise Beach, at its most northern point.
Elevated and with ocean views, it has the prized north-easterly aspect and adjoins a leafy reserve bordering Sunshine Beach. In this way it maximises privacy and outlook.
The custom-designed home on a 771sq m duplex block, has vaulted ceilings, a wrap-around deck, separate study/rumpus room, and huge pool surrounded by alfresco entertaining.
AUCTION ACTION
SATURDAY, 20 January
Noosaville
4 June Cres: 4bed 2bath, 2car house, pool, 11am, Zoe Cooke 0428 329 291 Tom Offermann Real Estate
10-12 Ann St: Vacant 1173sq m block ,12pm, Eric Seetoo 0419 757 770 Tom Offermann Real Estate
Peregian Beach
69 Podargus Pde: 4bed, 2bath, 3car house on 1200sq m, 10am, Tracy Russell 0413 319 879 Tom Offermann Real Estate
Tewantin
1/1 Werin St: 3bed, 2bath, 3car free-standing lakefront residence, 3pm, Patrick Sherwood 0413 889 130 Clare Sherwood 0402 903 733 Tom Offermann Real Estate.
