Picture yourself here - for a lazy few million

ONE of Australia's dreamiest holiday homes is expected to spark spirited bidding at a gala property auction tomorrow.

Noosa

ONE of Australia's dreamiest holiday homes is expected to spark spirited bidding at a gala property auction on the Sunshine Coast tomorrow night.

 A stone's throw from the beach and cafes of Hastings St, 12 Noosa Parade has attracted 180 inspections in recent weeks.

Designed by Stephen Kidd, it is described as a coastal lifestyle masterpiece. In 2008 , The Sunday Mail's Queensland Dream Homes magazine valued it at $10 million. Richard and Lesley Longdon are parting with their prized riverfront retreat because they are keen to spend time on their motor yacht.

Noosa

The property last changed hands in 2002 for $2.45million according to RP Data records.

The home features four bedrooms, three bathrooms and a three-car garage.

Noosa

Noosa's top end of the market has been more resilient than on the Gold Coast where several mansions have sold for a fraction of their asking price. 

Noosa

Prices in Noosa are still about 30 per cent below their 2008 peak, but local real estate agents report several billionaires and multi-millionaires have returned to the Sunshine Coast's property market in what could be the first sign of a recovery.

Sydney developer Bob Ell's plans for a Noosa holiday home are the most advanced. Mr Ell, worth about $1.1 billion, last year demolished a house at Noosa Parade to develop a $5 million mansion.

The founder and executive chairman of Leda Group paid $2.75m for the waterfront site near the Sheraton Hotel this year.

The construction tycoon inspected several Noosa houses, including former Toll Holdings boss Paul Little's mansion on Noosa Sound, before deciding to build a home with swimming pool.