Noosa's $14m house sale tops south east Queensland

Sunshine Beach takes out the title of having the most expensive home sold in south east Queensland

STUNNER: This beachfront mansion at 2 Belmore Terrace, Sunshine Beach, sold for $14 million. Picture: Tom Offermann Real Estate

SUNSHINE Beach has taken out the title of having the most expensive home sold in south east Queensland last financial year - a beachfront property at 2 Belmore Tce that sold for $14 million.

Tom Offermann Real Estate principal Tom Offermann, who negotiated the sale of the property, said it was amazing a small town like Noosa could achieve higher prices than Brisbane and the Gold Coast.

He said his office sold the three most expensive properties in Queensland last year, and followed on from that stellar year selling the most expensive property in south-east Queensland in the 2019 financial year as well as well as two more in the top 20 in south east Queensland.

"When you look at sales of $18m and $15.2 million, it speaks volumes about the appeal of Noosa,” Mr Offermann said.

"The ultra-wealthy are comfortable investing in this area because they see that the future seems so secure for Noosa because it's the environmental and geographical values, the weather, pitched against the availability of properties that is driving the process.”

He said when he first started working in Noosa real estate in the 1980s, he never contemplated a property selling for $18m.

"I remember how excited I was when I sold Noosa's first million-dollar property; that was just a shack on the beachfront in Webb Rd, owned by an Englishman who said he didn't want to sell it unless he got $1m. It was 1989 and I remember walking in with the contract for $1m. I sold it again in 2018 for $18m but a lot had happened in that time, including a mansion being built.”

Now, though, Mr Offermann said he had "never seen such a drought of high quality properties for sale in my career”.

"There are very few properties for sale ... in most price brackets from our median price upwards.”

Mr Offermann said there were a lot of "content property owners who say, when asked would they be interested in selling, they say where would I go, what else would I buy and, more commonly, they say the children would disinherit them”.

"In Brisbane and the Gold Coast, they don't have restrictions on the amount that can be built, plus in a lot of their older suburbs people can subdivide blocks to cater for the increasing demand.

"In contrast, there are approximately only 50 vacant blocks of land left in Noosa. As I so often say, for someone to check into Noosa, someone has to check out.”

Mr Offermann said current high end listings included an older-style home at 35 Mosman Ct, Noosa Sound with a rare 33.5m water frontage for $5.2m, and three apartments in Gympie Tce setting a new price benchmark for the Noosaville area at $4.7-5.6m.