By Margaret Maccoll
Noosa leads the State in the property market posting a median unit price increase of 8.7 per cent to $625,000 in the June 2020 REIQ house price report.
House prices in the shire also excelled recording an increase of 2.8 per cent increase with median house prices at $839,500.
These figures are no surprise to real estate agent Tom Offermann who said for 43 years Noosa has had the highest capital growth in the state.
There are two main drivers for the market, Mr Offermann said.
The desirability as a place to live coupled with the number or magnificent houses and apartments for full time living, particularly in the Noosa, Noosaville and Sunshine Beach area attracts buyers to the area.
The other driver is the appeal for investors buying units for long term capital return underpinned by an excellent capital growth and exceptional rental returns.
Buying a unit in Noosa will be self funded by anyone able to access a loan.
“The greatest difference with Noosa compared to other areas is there is a finite supply,“ he said.
The enduring appeal of Noosa was brought home to Mr Offerman recently when he spoke with a gentleman who hadn’t been in the region for 10 years who was pleased to find little had changed in that time.
“There’s very little available land and the restrictions on what can be built enable the liveability and the aesthetics to underpin the value,“ Mr Offermann said.
“The best things in life are a little bit more expensive and that goes for Noosa as well as most of the locals will attest.
“Having spent more time enjoying our community over the last six months it’s also one of the safest places to live.“
During the COVID-19 shutdown there has been a surge of activity in the property market from people recognising the value of Noosa and investing in their future for the next few years.
“People who might otherwise have spent time in Aspen, Hawaii or the US are investing in property in Noosa,“ Mr Offermann said.
“There is far more demand then there is supply.“
more than 70 per cent of buyers coming from Queensland.
So keen are some buyers from overseas and interstate to acquire a slice of Noosa they have bought without seeing the properties in person and relying on photos, walk through videos and recommendations from friends.