Noosa prop­erty shines

Dou­ble digit price rise for units blitzes state

Sunshine Coast Daily - - NEWS - EL­IZ­A­BETH TIL­LEY

A TYP­I­CAL apart­ment in Noosa is now more ex­pen­sive than an av­er­age house on Bris­bane’s out­skirts, with the ex­clu­sive coastal hot spot’s hous­ing mar­ket blitz­ing the rest of the state.

New Septem­ber quar­ter fig­ures from the Real Es­tate In­sti­tute of Queens­land re­veal Noosa was the best per­form­ing re­gion in Queens­land, with the an­nual me­dian house price gain­ing 8.7 per cent to a new high of $715,000.

But that was out­shone by the unit mar­ket, with the av­er­age apart­ment price jump­ing 12.2 per cent to $550,000.

Records were bro­ken on both the Gold Coast and Sun­shine Coast, with the me­dian house prices for both re­gions hit­ting new highs of $580,000 and $629,000, re­spec­tively.

REIQ chief ex­ec­u­tive An­to­nia Mer­corella said a typ­i­cal unit in Noosa may be more ex­pen­sive than a typ­i­cal house in the re­gions of Ip­swich, Lo­gan, More­ton Bay and Red­land.

Tom Offermann, of Tom Offermann Real Es­tate, who han­dles some of the big­gest home trans­ac­tions in Noosa, said he was con­fi­dent 2019 would be a re­peat of the past year’s growth as buy­ers con­tin­ued to out­num­ber sell­ers.

“We have ne­go­ti­ated some record-break­ing sales this year at $14 mil­lion, $15.2 mil­lion and $18 mil­lion, and have more buy­ers right now with up to $20 mil­lion for the right prop­erty,” Mr Offermann said.

He said price growth in the re­gion was un­der­pinned by the lack of land avail­able for de­vel­op­ment be­cause of strin­gent coun­cil plan­ning poli­cies, and the fact around 80 per cent of Noosa was cov­ered by pro­tected green space and wa­ter­ways.

“Buyer de­mand re­mains strong, and ef­fec­tively for some­one to move to Noosa, some­one has to check out,” Mr Offermann said.

“New res­i­dents con­tinue to be drawn from mostly eastern se­aboard cap­i­tal cities, and there is a grow­ing pro­por­tion


of over­seas and ex­pat buy­ers.

“This year we no­ticed a spike in ac­tiv­ity by Syd­ney buy­ers, many cit­ing their daily frus­tra­tions of bat­tling with wors­en­ing traf­fic jams.”

Mr Offermann said the strength in the unit mar­ket was due to ex­cep­tion­ally high rental re­turns gen­er­ated by hol­i­day units.

An­thony and Sally-Ann Cali­gari and their two chil­dren moved to Noosa from the Vic­to­rian ham­let of Ocean Grove late last year.

“Like ev­ery­one else, we moved here for the life­style,” Mrs Cali­gari said.

“Why wouldn’t you want to live in Noosa?”

The small busi­ness owner said she was thank­ful, but not sur­prised the coastal re­gion had recorded such strong house price growth.

“We wanted some­where that was go­ing to be thriv­ing for our kids’ sake and for our own busi­ness pros­per­ity.”

Photo: Lachie Mil­lard

BOOM­ING: Sally-Ann and An­thony Cali­gari, with their son Kai, 12, and dog Tilly, who have just bought a new home in Noosa which sits num­ber one in Queens­land for growth in house prices.

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