Noosa house prices on the rise

Average house prices in Noosa are up 8.7 per cent

SOLID GROWTH: Average house prices in the Noosa region are up 8.7 per cent. Picture: Alan Lander

NOOSA house price growth is the highest in the state and is surpassing the Sunshine Coast by 5.2 per cent, according to the latest REIQ report for the March quarter.

Average prices in Noosa are up 8.7 per cent.

The report revealed the Sunshine Coast market delivered the second-highest annual growth in the state, with a rise of 3.5 per cent.

The report detailed every Coast suburb's performance, compared to this time last year, and this time five years ago.

REIQ CEO Antonia Mercorella said Noosa was the stand-out growth market, growing 8.7 per cent to an average sale price of $750,000.

"The Sunshine Coast delivered at 3.5 per cent with an annual median house price of $585,000, which is almost 30 per cent above levels five years ago,” she said.

"Generally speaking, the Queensland markets are doing as well as can be expected, proving somewhat resilient to the economic headwinds facing the nation.

"We are operating under very sluggish conditions spearheaded by lacklustre wages growth, high jobless figures and tightened lending criteria.

"Under these circumstances we would implore the State Government to reconsider its position on broadening the first home owners' grant to include established homes in regional Queensland.

"A boost for buyers in this market where homes are verging on oversupply would be beneficial.”

Originally published as Noosa house prices on the rise