Luxury homes in Noosa expected to fetch record prices
String of premium properties in sought-after coastal enclave to fire up the spring selling market, says veteran agent.
Noosa’s prestige market is heating up for spring, with a wave of premium properties ready to hit the market with the potential to set new price records as post-Covid buyer demand and financial capacity is put to the test.
The first week of September will see the launch of several premium properties, including 9/81 Hastings Street, a newly renovated, fully furnished penthouse in the sought-after beachfront block, Hastings Park.
With four bedrooms, multiple terraces and a roof deck overlooking Main Beach, it’s the same building in which Noosa’s most expensive apartment, 5/81 Hastings Street, sold for a record $16.1m back in October 2021.
Tom Offermann of Tom Offermann Real Estate, who previously sold the record-breaking apartment to Melbourne software developer Mark Suhr and his wife, Elizabeth, is set to launch a new apartment listing next week.
He believes it has the potential to challenge the current price benchmark when it goes to auction on October 8.
“The prestige market has continued to stay strong with very little supply of property available,” Mr Offermann says.
“There has not been a three-bedroom premium apartment for sale for three years now.
“Around 80 per cent of potential buyers in this sector are well known to us, they’ve been looking for a while, they currently own properties which they want to upgrade from, or they will have recently sold a house.
“The buyer profile will be someone most likely from across the eastern seaboard and more than likely Brisbane, Melbourne and Sydney. These are buyers looking for a place that will become their happy base for family to gather for holidays and to enjoy the best Noosa has to offer.”
Offermann agent Jill Goode is also fielding plenty of inquiry on a three-bedroom, two-bathroom unit at 8/70 Upper Hastings Street, Noosa Heads, ahead of its auction on September 21.
Ms Goode says the apartment’s outstanding features include the 180sq m of terracing and sweeping views over the ocean and river to the hinterland, with the closest comparable sale a three-bedroom apartment at 2/29 Allambi Rise, Noosa Heads, which sold for $7.6m in April 2023.
Property prices in Noosa Heads and the surrounding suburbs have shown a modest recovery over the past 12 months, following a drop from peak Covid-era highs when they surged nearly 40 per cent, according to the latest CoreLogic Regional Report.
At the top end of the market, significant transactions have continued throughout winter, including two record-breaking sales in Noosaville: a house at 19 Key Court and another at 13 Dolphin Crescent, each selling for $13m.
An off-market sale at 3/54 Park Road, Little Cove, for more than $10m, is due to settle soon, placing it among the top-five apartment sales of all time, according to CoreLogic sales records.
Other notable listings expected to challenge suburb records and test the prestige market include the home of Sunshine Coast designer Paul Clout at 307 Gympie Terrace, Noosaville, which will hit the market next week through Offermann agent Cameron Urquhart.
A three-bedroom cottage with panoramic beach views on 880sq m at 3 Allambie Rise, held by the same family for nearly 50 years, and a five-bedroom beachfront house at 38 Seaview Terrace, Sunshine Beach, are scheduled for auction on September 21.
Mr Offermann, who sold the Seaview Terrace property to its current owners 27 years ago, says while the market isn’t experiencing the frantic buying seen during the pandemic’s peak, when properties attracted 10 to 15 bidders an auction, the market has become more consistent.
“We’re getting three to five bidders at auctions these days,” he says.
“We’ve seen a good handful of serious buyers on both Allambie and Seaview Terrace; people know it might be another 49 years until they come up for sale again.
“You cannot go wrong. You’re not spending the money; you’re parking your money in some of the highest capital growth investments you can find.”
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