As we step into 2024, the interplay of supply and demand, economic policies, and broader socio-economic factors will continue to shape the Noosa property landscape.
Reed & Co principal Adrian Reed believes that for potential buyers, investors and sellers alike, understanding these dynamics is crucial in navigating the complex terrain in our local market.
Strong population growth and big infrastructure spending will keep inflation on edge.
Markets will be sensitive to movements, and government policy must balance each factor.
Expectations are for similar pricing between January and December, with fluctuations in between.
Most of the nation’s capitals will see a growth rate of minus one percent to four percent.
“The consistent call from economists is that Perth and Brisbane will continue to grow off the back of mining booms.
“Interest rates to peak but mortgage holders need to ’survive until 2025.’
“Inflation remains persistent but is starting to come down. This means we may see another rate rise in 2024.
“However, it does look like interest rates are either at peak, or very close.
“This is great news for mortgage holders who have had to endure the sharpest increase in rates ever recorded.’’
While it is good news, the bad news is that we are unlikely to see a rate cut until late 2024 or early 2025.
This means mortgage holders need to survive until then, paying far more on their home loans than they did two years ago.
Building will hit a record low despite record demand, Adrian predicts.
Material, labour and funding costs will continue to dampen supply.
“Affordability issues and a potential rise in unemployment could exert downward pressure on prices.
“However, this may be counterbalanced by wage growth or mortgage rate reductions.
“Any reduction in interest rates or other economic stimuli could reignite market demand.
“An ever-growing number of portals, digital advertising mediums, and the rise of video will force higher ad spending to attract an audience to secure premium sales results.
“Sales volume will return and the Noosa property market early 2024 and it will further demonstrate that the boom and bust property cycle has been replaced with a robust and resilient world-class marketplace that is one of the most desired in the country.’’
PRETTY IN WHITE
It’s fresh to the market and fresh in appearance … a four-bedroom, two-bathroom, two-car house with pool at 4 June Cres, Noosaville, is light, bright and set with a nature reserve backdrop.
Scheduled for auction at 11am on Saturday, 20 January, with Zoe Cooke of Tom Offermann Real Estate, it feels like you are in a private sanctuary yet minutes from everything.
This playful, punchy, and ever-so-pretty, gleaming white chic
residence is to treasure forever, Zoe said.
The natural bush acts as a backdrop to the
luminescent pool.
Along the walkway is a lush courtyard garden and once inside the
hallway features VJ panelling and French oak-toned flooring.
The hallway opens to a spacious and sun-drenched open plan
living and dining spaces, with high-raked ceiling and a beach house-inspired aesthetic.
A wall of disappearing doors make a
seamless connection to the undercover alfresco entertaining
terrace on the north side.
Similarly, doors stretch almost the width of
the residence on the north-westerly side to reveal the pool with travertine sun deck.
Manicured lawn on
the south side features a child’s cabana, purpose-built in the style of the
residence.
The
galley-kitchen comes with creamy stone-topped benches including splashbacks
and lengthy island breakfast bar, together with Bosch
appliances.
Four plush-carpeted bedrooms off the hallway come with built-in robes.
The
king-size main bedroom looks into the front garden, has a wall of timber-fronted robes,
louvres and wispy linen sheers.
The on-trend ensuite is finished with stone-topped timber cabinetry, curved white tile walls and mirrors.
The main bathroom has a free-standing white oval bath and stone-topped timber cabinetry with two
basins. The laundry and a powder room are nearby.
There are two driveways, one with garaging for two cars and the other is
perfect for a boat.
KEEN INTEREST IN LAKESIDE PROPERTY
Laguna Real Estate’s Roger Omdahl has been on the go … negotiating post-auction on a four-bedroom house with pool at Noosaville and now seeing strong responses to his latest listings.
The three-bedroom, one-bathroom, two-car house with shed at 7 Toolara St, Boreen Point, has seen steady numbers at open homes as well as early offers.
Listed at offers over $860,000, most interest so far has been from Brisbane looking to take advantage of lake pursuits, from locals and from Sydney.
The single-level home is built off the ground and of very solid construction, Roger said, with steel frame and hardwood floors throughout.
Immaculately presented, the air-conditioned home is in a central quiet position on a 591sq m. It offers high cathedral ceilings, catches the breezes off the lake and enjoys favourable north and east aspects.
There is a covered carport and secure steel garage.
A LOT ON OFFER
Just listed with Roger Omdahl is a four-bedroom, two-bathroom, two-car house on 1.26ha at 5 Lake Flat Rd, Boreen Point.
For sale at offers over mid $800,000s, it is a very solid house with study, two-car parking under as well as a general purpose area containing a bathroom, kitchen and laundry.
It’s unusual to find a large home on small acreage close to Lake Cootharaba, Roger said.
There is polished hardwood flooring, two living zones, study, modern kitchen, bathroom and large front verandah upstairs.
Situated on the fringe of Boreen Point, there is a workshop area and storage plus room to park other vehicles and equipment.
The land features a flood-free section with mature trees and space for the kids to run free.
TOTALLY PRIVATE IN TEWANTIN
It’s an older home but has been substantially renovated and sits on on 675sq m in a private location in Tewantin.
This recent listing by Laguna’s Roger Omdahl offers a two-bedroom, two-bathroom, two-car house at 111 Werin St, and for sale at offers over $860,000.
Totally private from the street and the rear, it offers something a bit different but with the facilities of Tewantin shopping village nearby.
There was very strong interest at the first open home, mainly due to the location but also the suitability for young families, retirees or as a holiday home.
“The other big feature is the open living-dining-kitchen at the rear with wide stacker doors to to an L-shaped, covered verandah and down to a spacious deck,’’ Roger said.
“The house is light, bright and white throughout, it is set among a variety of lush trees and shrubs on the fully-fenced allotment.
A durable and insulated exterior of Colorbond cladding creates a clean, modern look, while bamboo flooring is used in the large, air-conditioned living zone.
The main bedroom comes with modern ensuite, walk-in wardrobe and private deck.
The large guest bedroom with contemporary built-in wardrobe is opposite the modern, main bathroom and toilet. There is lots of under-house storage if needed.
LUXURY HOME IN NOOSA HEADS
A family home in Noosa Heads has been transformed into a luxurious haven, thanks to the complete and meticulous reimagining by LilleyBuild.
The five-bedroom, four-bathroom, three-car house on 720sq m at 12 Milpera Retreat is being marketed by Mike Hay and David Conolly of Century 21 Noosa by an expressions of interest campaign closing 12 January.
The layout spans almost 500sq m, and offers something for everyone with five good-size bedrooms, four-plus bathrooms, multiple living areas and a seemingly endless list of features.
At the heart of the home is the custom chef’s kitchen with a suite of Miele appliances, stone benchtops, 2pac cabinetry and a full-size scullery.
The light-filled living room features blackbutt timber flooring, tall ceilings and a wall of bi-fold doors that create an effortless connection to the covered alfresco.
There is a dedicated dining area as well as outdoor dining with a built-in BBQ, a fireplace and views over the swimming pool.
A well-equipped laundry and a private study are also on the main floor, alongside a bathroom, a triple garage and a bedroom with a walk-in robe and ensuite.
Upstairs, there is yet another living zone with a built-in bar and an attached covered terrace that takes in the elevated outlook over the pool.
Four bedrooms and two bathrooms are on this upper level including the main suite with dual walk-in robes, a luxe ensuite with a double quartz-topped vanity and a fluted oval soaking tub. There is even space for a retreat.
Bedrooms two, three and four all have built-in robes and access to the main bathroom, with a separate powder room, while bedroom two has its own covered balcony.
Features include a security system, ample storage, and a 6.6kW solar system.
