Bells chime for bridesmaid suburbs on Sunshine Coast as waterfront prices rocket
As Queensland’s Sunshine Coast market heats up for summer, buyers are looking to turn away from prestige addresses to snag a bargain.
As Queensland’s Sunshine Coast property market heats up for summer, buyers are looking to turn away from some of the prestige addresses to snag a bargain.
Prices in the coast’s most sought-after suburbs have been on the rise over the past year.
CoreLogic data compiled for The Weekend Australian shows prices in the region’s most expensive suburbs, Sunrise Beach and Noosa Heads, have jumped by more than 25 per cent and 15 per cent respectively since last September, pushing the median house prices in the waterfront suburbs past $1.3m.
The change is seeing buyers look towards less popular suburbs with attractive price tags. In the lesser known Sunrise Beach, a suburb south of Sunshine Beach, buyers can snag a house for $35,800 less. At a median price of $1.18m, prices are largely on par with Noosaville.
Prestige agent Adrian Reed said the Noosa market had been busy over the past few months, with people continuing to look left of field towards less popular “bridesmaid suburbs”.
“There is a great appetite to secure a property right now,” Mr Reed said.
“It’s fairly normal to assume buyers set themselves parameters around prices. So, when key areas like Little Cove and Sunshine Beach push beyond their guidelines, they have no real option but to look at places with the same level of amenity and lifestyle at a lower price.
CoreLogic said Noosa Heads and Sunshine Beach had also proven the most expensive locations on the coast for apartments.
“Sunshine Beach houses in the Noosa region came in with the highest median house value in September of $1.5m,” Mr Reed said.
“Four of the six suburbs that made the criteria for houses in this analysis have a median above $1m. Peregian Springs and Tewantin is where you would be looking if you were to enter into this market at a more affordable price point.”
A waterfront mansion on Noosa Waters hit the market last week with a price guide tipping $6.5m. The private Hollywood-style compound at 29-31 The Peninsula offers several statement features which begin with the large entryway and include a Bahamas-inspired arched outdoor room with sweeping travertine-tiled terrace and sandstone wall.
The six-bedroom and eight-bathroom home was last sold in December 2016 for $4.75m, with CoreLogic data showing it had been relisted with Reed & Co after a year on the market.
Design of the home is very much centred around water, featuring two swimming pools, several water features and sculptures and access to the canals via a private U-shaped jetty.
The southern end of the Sunshine Coast also offers greater affordability.
Canal suburb Minyama is the most expensive postcode, with the median price tipping $1.13m after reporting 12 per cent growth in the past year. Apartments in Peregian Beach apartments were the most tightly held — just 22 sold in the year to September — garnering the highest median price of $628,000.
Beachfront Buddina proved the runner-up. Buyers looking to snag a house can save $139,000 on the premium suburb, while apartments are $74,300 cheaper.
Earlier this month, Boost Juice founder Janine Allis placed her luxury family holiday home in Noosa’s coveted Little Cove. The four-bedroom, three-bathroom home at 12 Mitti Street is on the edge of Noosa National Park and embraces natural elements, seen through the spotted gum floors and statement walls of woven coconut fibre and textured linen.
The Allis family bought the property for $1.6m in 2009.
Rebekah Offermann, of Tom Offermann Real Estate, will auction the property on November 14.
The Shark Tank star, who is based in Melbourne, has secured a neighbouring spot in Little Cove and plans to build another property.
More Coverage
Room with a view: Tassie east coast gem hits market
This four-bedroom home near Bicheno on Tasmania’s east coast offers uninterrupted ocean views – and even has a dedicated crayfish cooking station. Price: $4.5 million-plus.
’People who take advantage of negative gearing are not the bad guys’
He’s the former radio DJ turned authority on all things architecture and design. Now, Tim Ross turns his attention to how home ownership became an enduring national obsession.