Noosa Heads unit market: Altum Property Group records $30m in sales in two months
Units at a new Noosa Heads complex are selling quicker than expected driven by those looking for property without a seven-figure sum.
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A lack of property for sale under $1m is among the driving factors Noosa Heads developers identified after locking in more than $30m in sales over two months.
Altum Property Group’s latest apartment project the Whiteley has benefited from the region’s hot property market since launching sales in November.
Sales manager Jeremy Gilmore said the lack of brand new, quality stock under the $1m mark in Noosa was driving most of inquiries and sales.
Within two months the 54 residence unit and terrace home complex has recorded more than $30m in sales, with prices starting at $750,000.
“There really isn’t a lot available that meets those three criteria in our local market, just one of our apartments is priced at over $1m,” Mr Gilmore said.
Noosa’s median house prices rose to $1.72m in 2021 and units to $1.2m.
Meanwhile house medians in Sunshine Beach soared by 47.6 per cent to $2.6m in the past 12 months.
Altum Property Group’s Alex Rigby and Rob McCready purchased the 101-105 Eumundi Noosa Rd adjoining blocks in 2020 for just over $2m.
It was advertised as a “prime development location”.
The group previously developed the $200m Parkridge Noosa.
Mr Gilmore said sales at The Whitely followed a similar trend to Parkridge Noosa with local buyers looking to downsize but still be close to shops and amenities.
He said some two and three bedroom apartments and terrace homes were still available with prices starting at $750,000 through to $1.25m.
Construction is expected to start in early 2022.
Originally published as Noosa Heads unit market: Altum Property Group records $30m in sales in two months
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