Noosa prestige market is rock solid

A Noosa Sound house that sold under the hammer at auction for $5.67 million last Thursday shows the Noosa prestige market is rock solid according to Tom Offermann Real Estate marketing agent Eric Seetoo.

“The four bedroom Witta Circle home was an oldie, but it occupies one of the most desirable locations on the waterfront near Hastings Street,” Eric Seetoo said.

“We found four bidders, three of whom were present and another was on the phone from overseas, each with well over $5 million to spend.

“As you can imagine I am busy finding properties for the under-bidders.”

Agency principal Tom Offermann said he believes this is the highest Queensland house sale under the hammer so far in 2019.

“Witta Circle is one of those ‘can’t go wrong locations’, it’s on the water, picturesque, and an easy walk from Hastings Street and the beach,” he said.

“The capital growth has been over 15 per cent on average for the 40 years, hard to beat.

“We are still finding demand strong, especially at the luxury end, and are critically short of properties at all levels.

“Our agent Nic Hunter listed a house in nearby Little Cove for auction, and it was snapped up for $4.75 million on day two before our in-house media team even had time to finish the photos.

“A few days earlier we sold a house in the same street in the $5m range.”

Property markets usually slow down during an election, but not this time in Noosa Mr Offermann said, “The traditional slowdown isn’t apparent this time, with most clients adopting a wait and see attitude. Some are even predicting a post election rush into investment property before any negative gearing or CGT changes are introduced.”

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