Coast’s $4.25m property marks the best sale post-GFC

THE $4.25 million sale of an oceanfront property at Dicky Beach marks the best post-GFC sale in Caloundra.

ROOMS WITH A VIEW: The Mediterranean-style house at Dicky Beach had plenty of interest.

THE $4.25 million sale of an oceanfront property at Dicky Beach marks the best post-GFC sale in Caloundra.

The four-bedroom Mediterranean-style house at 2 Cooroora St was sold by Ray White Caloundra co-principal Andrew Garland at an in-rooms auction yesterday.

While it is not a record price for the Caloundra area, it is a great shot in the arm for the property market that was getting back to pre-GFC levels, Mr Garland said.

"We expected to sell it,'' he said. "It was very well marketed.

"What it says is there is a market for top-end beachfront property, something that has been absent for a few years.

"We have had sales up to $2 million in some of the beach suburbs but this shows the top end is back. It's an indication that if it has not caught up (to pre-GFC sales), it's hot on its heels.''

The Cooroora St sale brings to more than $10 million the sales at auction by the Caloundra office since Saturday. Mr Garland also sold a beachfront house at Shelly Beach on site on Saturday for $3.5million.

At the in-rooms event yesterday two of the eight properties sold under the hammer, two sold prior, one is expected to be concluded today and negotiations are proceeding satisfactorily on the other three.

The multi-level Cooroora St house is arguably the closest you can get to the beach on the Sunshine Coast apart from the First Point units at Noosa Heads.

The property attracted more than 70 inspections through the auction marketing campaign.

And there were five registered bidders on the day at Caloundra Events Centre.

From an opening bid of $3 million the house eventually sold to Brisbane-based buyers with business interests in central Queensland.

Most interest in the property came from the Brisbane area, Mr Garland said, with the eventual buyers intending to use it as a beach house.

The attraction was its position, with northerly coastal views as well as back to Moffat Headland.

Being a big and spacious house with a good shell to encourage refurbishment also held wide appeal.

"The fact we had five registered bidders for both properties (2 Cooroora St and 3 Beachside Ct) shows there is strength in that top-end market,'' Mr Garland said.

He said it also showed a change in direction for buyers as it was likely that in previous years they would have looked at the Gold Coast first or some places further north.