Australia’s millionaires continue to snatch up coastal luxury in Portsea, Byron Bay and Noosa
The luxury coastal home market continues to thrive as the country’s most affluent seek a coastal getaway far from big city life, making for some record-breaking sales.
Some of the nation’s top coastal hot spots never seem to go out of vogue – places such as Portsea on Melbourne’s Mornington Peninsula and, of course, the much-loved destinations of Byron Bay and Noosa.
These areas have all attracted big money over the past two years in the wake of the coronavirus crisis, and this month real estate agents are reporting a successful run of sales, despite expecting activity to slow.
For many Melburnians, Portsea and Sorrento are seen as the picture-perfect location away from the bustle of big city living and recent sales in the luxury market prove just that.
Kay and Burton’s Portsea director, Liz Jensen, has had success selling a string of multimillion-dollar homes in these popular coastal suburbs, many of which have been sold to Melbourne-based clients.
Ms Jensen said the past few months had been successful for the coastal luxury home market, even through November, when sales usually slowed down ahead of the new season.
“We’ve had our best August we’ve ever had and our office here opened in 1994, so that’s pretty historical,” she said.
“These buyers are Melbourne based, looking for homes for holiday enjoyment.”
Her most recent sale of 838 Melbourne Rd in Sorrento is an eight-bedroom, four-bathroom and four-car spaces wonder in a secluded slip road just a few minutes away from Sorrento Village and the beach.
The new holiday-home owner will enjoy extra features such as a swimming pool, cabanas and a gas log fireplace.
The owner did not wish to disclose the price of the house, but it’s understood the property sold for within the $2.95m-$3.1m guide.
In Portsea, 33 Elgar Grove also sold within its price guide, going for between $4.5m-$4.9m.
Before the new city owners sleep in one of the five bedrooms with built-in robes, they will first be greeted by their own flagpole and outdoor fireplace followed by double glass entry doors.
If they’re parents then they can enjoy a retreat room and workshop studio, while kids can bounce on the built-in trampoline in the back yard – all while just a 15-minute walk from shops and beaches.
Closer to Melbourne’s CBD, Evolve Design Studio principle designer Marilyn Edgar is selling her stylish beachfront home in Seaholme.
Striking the perfect balance between metropolitan and coastal living, 35 Beach St is just 500m from the boat club and just a short train ride away from the city.
The unique ’70s decor gives this property personality. The 728sq m home has been in the same family for more than 50 years, presenting prospective buyers with a rare opportunity.
But to become the proud owner, prospective buyers will have to make an offer at the asking price of $3.5m to $3.8m.
Moving away from Victoria, Queensland’s resort paradise Noosa is experiencing activity in the luxury coastal home market.
The cafe and boutique culture as well as heavy surf, has attracted interest from international, interstate and local potential buyers, Reed & Co real estate agent Darren Neal said.
Just last month, Mr Neal had more than $16m in sales with three lavish Noosa properties.
“The luxury coastal home market is quite stable with sales, compared to properties in the lower price end; people still tend to want to flock to the coast,” Mr Neal said.
“It’s been a bit slow in the months prior to November, but it’s really picked up again this month.”
His biggest sale of the month goes to a three-bedroom, three-bathroom apartment overlooking the sea at 20/8 Serenity Close in Noosa Heads.
This penthouse looks out across Laguna Bay and Noosa River, and has a fireplace, alfresco dining, a spa, gym, heated pools and a theatre-sized media room.
The new local owners of this about 448sq m property are in a prime location, walking distance from Hastings St and Noosa Junction, allowing them to go to the best restaurants in the area. But if staying in is more their style, the kitchen featuring a walk-in patent dual oven and secondary dishwater will suit their inner MasterChef.
Less than a 10-minute drive away, and in a similar price range is 33 Saltwater Ave, Noosa Waters, a property that takes waterfront living to the next level.
The 851sq m home with 20m of direct water frontage and its own private T-shaped jetty sold for $5.5m to a local buyer.
This three-bedroom home prides itself on the quality materials and craftsmanship throughout the home, featuring Tasmanian oak timber and WA sandstone by the pool.
Perfect for entertaining, this millionaire homeowner can indulge guests in either the spa, the alfresco dining spaces or the rumpus room, which has the potential to be converted into an extra bedroom, bar or office.
The real estate agent’s most recent sale of 51 The Quarterdeck in Noosa Heads, positioned on Noosa Hill, is just the cherry on top of a great month.
Selling for $4.8m, the new Queensland-based owner has bought a home with picturesque views of the Noosa River and the hinterland over Lake Weyba.
If the serene backdrop isn’t enough, this architectural feat was designed to be shared among loved ones – a kitchen perfect for gathering with an adjoining bar, complete scullery while opening up to the dining, living and outdoor dining space.
While closely located to the life of Hasting St, Main Beach and Noosa Junction, it might be hard to leave the residence with its media and library room on the top floor and a cinema with stadium seating and games area on the lower level.
But perhaps the most impressive and surprising sale of November in the Noosa surrounds goes to 21 Dolphin Crescent – a five-bedroom mansion that has been untouched since it was built 20 years ago – which has sold for a record-smashing $12m.
The 604sq m property features a Mediterranean-inspired terracotta terrace, pool and a fully equipped bar and wine fridge, among other opulent amenities for high-end living, but the buyer intends to demolish and rebuild.
Whatever the new owner decides to do with their multimillion-dollar land purchase, the prime river location as well as its opportunities for boating, fishing and birdwatching remain.
Across in Byron Bay is another record-breaking sale of $26m for this mansion in Suffolk Park, a popular coastal destination home to precious marine wildlife and Hollywood stars such as Matt Damon, the Hemsworths and Zac Efron.
Called the Panorama House, this hinterland mansion was sold by Fiona Toltz Gower and Joren Gower to a beneficial trust linked to the billionaire family the Roches, beating Rip Curl co-founder Brian Singer’s $22m purchase of a Wategos beach house in 2020.
The three king-bedroom property has a long list of features that may even have the wealthy in awe of the grandeur of the property.
The deep soaking baths, tropical and native plant garden, and pool and heated lava stone spa are just some of the highlights.
The 16ha property merges luxurious living with a media room and entertaining areas inside, while leaning into its tranquil surroundings with a firepit, wood fireplace and natural spring-fed dam with water feature, tree swing and jetty
Famous Snowy Mountains resort in new hands
Bangkok-based Minor Hotels has scooped up the famous Lake Crackenback Resort & Spa in a deal due to settle later this month.
Life science property sector in good health
The biggest listed and private developers are staking their claim in life sciences and medical property, even as parts of the sector struggle.