Noosa real estate: top 10 suburbs to join rich list

Property data and three established agents with a century of experience have identified 10 suburbs across Noosa that could be the next to break into the $1m club. Full list of suburbs revealed.

Three veteran real estate agents with nearly a century of industry experience behind them have identified nine suburbs across Noosa plus one long-term gem that could soon break into the $1m club.

The combined insight of established agents Tom Offermann, Olivier Miller and Sam Plummer have revealed the postcodes that could turn into property gold.

With prices in Noosa’s premium beachside suburbs exploding from consumer-driven growth, buyers and investors have been forced to turn to suburbs on the outskirts.

Using Core Logic data for November 2021, the suburbs with the closest median sale prices to $1m are as follows:

Lake Macdonald, which sits at $967,500 after a $387,500 increase since March 2020, Eumundi ($937,000) up by $247,000, Eerwah Vale ($925,000) up by $245,000, Black Mountain ($892,500) up by $223,500 and Noosa North Shore ($865,000) up by $223,500.

The three agents agreed with the data and included Tewantin, Pomona, Cooroy and Peregian Springs in the potential rich list.

Tom Offermann also identified rural suburb Kin Kin as a more long-term prospect.

Mr Offermann said the escalation of property values in Noosa’s beachside suburbs were having a flow-on effect to the surrounding postcodes.

Tom Offermann of Tom Offermann Real Estate said Noosa North Shore, Pomona, Cooroy and Lake Cooroibah were all hidden gem suburbs.

Mr Offermann said buyers were scouring Noosa’s country towns like Kin Kin ($695,000), Pomona ($800,000), Cooroy ($705,000) and Lake Cooroibah to invest or live in a “country flavour near the sea”.

He said Tewantin, where property prices rose by 41 per cent since March 2020 to now sit at $835,000, was another in high demand.

“We recently sold a house in Ward St, Tewantin for $4.5m which has established a new benchmark for premium Tewantin real estate,” Mr Offermann said.

Mr Offermann said it was a sense of community and proximity to the ocean that attracted buyers to the countryside, on top of the affordability.

“There have been some big investments across these country towns, adding infrastructure and appeal,” he said.

“Kin Kin, for example, has attracted major investment capital so we expect to see significant changes there starting with the refurbishment of the famous hotel.

“The bitumen sealing of Dr Pages Road some years ago has made Kin Kin a beautiful country road trip direct from Noosa.”

Mr Offermann said value could be found at Noosa North Shore and up the beach at Teewah Village, for those wanting a get-away lifestyle.

Laguna Real Estate principal Olivier Miller said Tewantin and Peregian Springs had flown under the radar.

Laguna Real Estate principal Olivier Miller said a lack of stock and skyrocketing prices had forced buyers to look into traditional acreage suburbs.

However, she said two suburbs close to the beach were both on her radar for major growth.

“Ones to watch would be Tewantin and Peregian Springs. There’s been quite a few recent million dollar sales in Tewantin and people are renovating older homes with a purpose of selling,” Ms Miller said.

“My office at Tewantin can’t keep up with the demand. The average buyer will spend $1m and those two areas are very attractive.

“Tewantin is the gateway to the North Shore while Peregian is full of newer products for young families.”

Ms Miller said the Core Logic data was “spot on” and said she expected the growth to continue.

Noosa Estate Agents’ Sam Plummer said value could be found in Cooroy and Pomona.

Noosa Estate Agents’ Sam Plummer said the likes of Cooroy and Pomona weren’t far from joining the exclusive club.

“You’d be lucky to get a two-bedroom unit in Noosa for under $1m, so buyers have to go further out for more value for money property,” Ms Plummer said.

“Cooroy and Pomona are only a few minutes away but at some point soon they will be the new benchmark.

“We are already seeing entry level range homes enter the $1m bracket.”

Ms Plummer said people were willing and able to pay the prices.