Noosa Property Market: Cashed up Southerners Buying Up Big

Noosa has been Queensland’s coastal playground for decades, with its stunning coastline lapped by the Pacific Ocean and home to the Noosa National Park.

Today, it’s a region that has come a long way from the caravans and tents that holiday makers once called home, even if it was just for a short — but blissful — period every year.

Now, international and domestic property buyers are turning to Noosa and its surrounds for sound investments and upmarket holiday rentals.

Noosa Heads-based Dowling & Neylan Real Estate sales consultant Adrian Reed said that 2017 was continuing to experience the strong property growth Noosa had experienced for the previous two years.

“The momentum doesn’t seem to have backed off at all,” he said.

Reed cites the recent sale of a 612-square metre waterfront block on Wyuna Drive for $4.36 million as an example.

“We had 10 bidders, broke a record and had the best result in over a decade,” he said.

“The desire to own property in Noosa has only accelerated and the occupation rates in all our premium property in our holiday rental pool is the best that we’ve ever seen.

“We’ve been able to achieve higher tariffs and higher occupation rates on all of our premium stock with a mix of both domestic and international interest.”

Reed said this interest was also driven, in part, by major infrastructure projects on the Sunshine Coast, such as the Sunshine Coast Health Precinct, and the approval of the Sunshine Coast international airport.

These sentiments are echoed by Tom Offermann Real Estate principal Tom Offermann, who concurs that the Noosa property market has been very strong to date in 2017.

“Our market traditionally lags the capital city markets, which have been very strong — it lags them by about two years and we’ve seen a very strong uptrend this year, with southerners who are cashed up from those markets up here buying investment properties and holiday homes,” he said.

As another example of Noosa’s booming real estate market, Offermann has a beachfront, whole-floor apartment in a complex of just three residences due to go to auction on October 28.

“The property last sold for $6.9 million and it’s expected to sell anywhere in the $7 million to $8 million range — possibly higher,” he said.

“The international visitor numbers to Noosa have certainly increased very quickly and the buyer interest is also from international buyers, who are starting to discover Noosa.”

Offermann said international interest was predominantly coming from the UK, Austria, Germany, Hong Kong and Singapore.

“I can’t see this interest slowing down because Australia is seen as a very safe destination and Noosa is a place that is both safe and has a great climate,” he said.

To watch Domain’s new series, The Circle, which follows the trials and triumphs of two cosmopolitan couples as they make the move from the southern states to a new life in Noosa, go here.