Noosa real estate market has continued to grow, thanks to limited land supply and increasing demand from international visitors and expats.
The median house price in the suburb grew by 6.2 per cent in 2017, just around $15,000 under Brisbane LGA’s median price.
In February, a record $22 million deal was made for a seven-bedroom beachfront estate at 21-23 Webb Road. Only two weeks earlier, Pat and Lara Rafter’s beachside mansion was sold for $18 million. In November, a property in Noosa’s north shore and another at Noosaville each sold for over $10 million.
Michelle van der Splinter, sales agent at Tom Offermann Real Estate said Noosa’s performance was at its best over this summer season.
“Wealthy sea-changers, those from interstate and overseas, make up nearly half of our interested buyers for top end houses along the beachfront and canals, and are adding to the strengthening market,” said van der Splinter.
Offermann himself said the tourist destination’s attraction reaches way beyond the local population. “Many think of it as a northern suburb of Sydney; even ‘Toorak in shorts’ for Melburnians,” he said. “But expats from London, Dubai, Hong Kong, Shanghai and Singapore have been very active in the past year.”
Real Estate Institute of Queensland CEO Antonia Mercorella said Noosa’s natural topography is what makes the property market both desirable and limited in supply. “Noosa’s world-class beaches, stunning natural bushland settings and wonderful warm community are factors that are fanning the flames of buyer demand,” said Mercorella.
“It is inevitable that this will push up prices.”