Why it is time for ‘Noosa’s cousin’ to shine

It is sometimes referred to as ‘Noosa’s cousin’, but this beachside suburb is emerging from its shadow and recording some impressive price growth.

Just 13km south of Noosa Heads, the trendy beachside hub of Peregian Beach is basking in its new-found relevance.

Often referred to as “Noosa’s cousin” or “the next Noosa” homes in Peregian Beach have clocked a 38 per cent change in median price over the last 12 months to hit a median sale price of $1.15m according to October’s REA Market Trends Report.

But what does hit the market, gets snapped up fast.

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This Peregian Beach house sold for $7.5m

Figures from the October report show Peregian Beach unit sales are also faring well, with a median sale price over 12 months of $699,000, up 22.6 per cent over the last year and a whopping 72 per cent over a five-year period.

A mix of established homes, new builds and freshly minted estates mean Peregian buyers are spoiled for choice, but stock is only on the market for an average of 30 days, so you must be quick.

Damien Steele Real Estate owner, Damien Steele, said Peregian Beach had evolved to become attractive for a broad spectrum of buyers, from young families to retirees.

He said the diversity of housing options, from bush or beach shacks to hilltop or beachfront premium homes, attracted permanent residents looking to put down roots in the area.

“Peregian’s core offerings are namely the relaxed yet thriving coastal village, the patrolled beach, dog beaches and surfing options, the National Park and the availability of and proximity to good public and private schooling,” Mr Steele said.

“The village provides for day-to-day retail and commercial services as well as hosting a range of regular events – think Peregian Beach Markets and The Originals as well as a host of events across various other sectors inclusive the arts, pets, outdoor cinema.”

Peregian Beach house values are rising

And it looks like the things locals love about Peregian will last the distance.

“There are community groups who campaign for the protection of the coast, the ocean and the relaxed non-commercialised village life,” Mr Steele said.

Peregian’s more established neighbour, Coolum, is also netting record sales according to REA’s October market trends report, but stock is also moving fast.

Neither houses nor units in Coolum are lasting a full month on the market before being sold with 186 units sold in Coolum over the last 12 months and 178 houses and a median sale price of $635,000 and $955,500 respectively.

With a price guide of $1.8M, this Coolum Beach house has recently hit the market