Summer remains picture-perfect with fine, sunny weather in Noosa.
No doubt many new love affairs with the Noosa area and its innumerable natural assets have been created by visitors near and afar.
Leading Noosa real estate principal Tom Offermann understands that feeling implicitly, following his first-ever family holiday many years ago.
“We were smitten,” he recalls, “however, just to make sure this was where we wanted to live, another holiday was booked.
“Needless to say, we never looked back.
“So many people who now live or invest here, had similar beginnings and this notion will strongly and continuously drive future demand for real estate.”
There is only one Noosa – its appeal is irresistible and globally recognised.
The longer-term outlook for values is undeniably exceptional when you consider the markets’ staggering 50-year track record of annual growth around 15 percent in some hotspots, with even the lower performing locations hovering around 10 percent.
However, it’s never a straight-line growth.
There will be times, such as now, when opportunity can shift in favour of the buyer.
“Median prices in all suburbs have softened as they have throughout the country due to interest rate rises,” Tom said, “but that doesn’t mean demand has dropped.
“It’s still strong, but buyers are feeling less pressure and are being more discerning.
“Interest rate rises are predicted to peak this year so these buying opportunities may be short lived.”
It is a different story at the ultra-rare end of the market as AAA positions continue setting new price records.
In key riverfront and beachfront locations there is usually just one to choose from if you are lucky.
“A notable property was 47 Mossman Court on Noosa Sound,” Tom explained. “It was listed for only five days before selling for $23.25m to buyers who had been searching with us for two years.
“They were desirous of a quality house in a prime riverfront location.
“The only reason it didn’t sell earlier was their flight for the first inspection was cancelled.
“In this tightly-held prime real estate market you have to be ready to act immediately or risk missing out.
“There were an unprecedented 24 sales of more than $10m during the past year, with the average being $17.640m.
“Two were private sales, and 20 of the other sales were negotiated by our company.”
EARLY AUCTION SUCCESS
The first Tom Offermann Real Estate auction for the year was a huge success and possibly an omen for the year ahead.
A modest fibro cottage at 74 Upper Hastings Street, at the top of the steps rising up to Little Cove from Hasting Street, had been owned by the seller for more than 50 years. A crowd of more than 100 watched on and seven bidders were in the mix before selling at $5.75m to an excited interstate buyer intent on building their dream home.
“Property values can change quickly,” Tom Offermann said.
Recent sales: A five-bedroom, four-bathroom waterfront house with pool at 47 Mossman Ct, Noosa Sound, sold for $23.25m.
Vacant 775sq m beachfront land at 7/56 David Low Way, Sunrise Beach, sold for $12.5m.
A four-bedroom, three-bathroom waterfront house with pool at 49 Witta Circle, Noosa Sound, sold for $19.5m.
A five-bedroom, four-bathroom beachfront house at 54 Lorikeet Dve, Peregian Beach, sold for $5.12m.
A four-bedroom, four-bathroom house at 11 Depper St, Sunshine Beach, sold for $4.95m.
Just listed: A five-bedroom, six-bathroom waterfront house with pool at 143-145 Shorehaven Dr, Noosa Waters, is set for auction on March 4.
For a comprehensive look at the Noosa property market pick up Noosa Today on Friday.
