Bumper Auctions

Bumper auctions: Baby boomers 'indulging' in Noosa Lifestyle spend big on property

Elizabeth Tilley 21 JAN 2020

This home at 13 Witta Circle, Noosa Sound, has sold for $6.6m.

A TROPHY home in Noosa’s most prestigious street has fetched $6.6 million during a bumper auction weekend, as cashed-up babyboomers descend on the popular seaside retreat.

The new owners of the waterfront property at 13 Witta Circle bought it under the hammer to use as a holiday home, complete with its private sandy beach, rooftop deck and pontoon jetty.

And they are in good company, with super wealthy neighbours including retail billionaire John van Lieshout and power baron Trevor St Baker.
This property at 13 Witta Circle, Noosa, fetched $6.6m at auction.

The property at 13 Witta Circle has its own private beach and pontoon.

The sale of the Noosa Sound property marks the highest auction sale in Queensland so far this year, with local agents predicting Noosa’s prestige property market to continue to gather pace in 2020 on the back of low interest rates and strong interstate migration.

“It’s a significant auction sale, and we’ve had a number of sales in excess of $6 million, which defies the common belief that high value properties don’t sell at auction,” Tom Offermann of Tom Offermann Real Estate said.

More than 200 people flocked to the auction of a house on Noosa River at 307 Gympie Terrace, with a huge 22 registered bidders vying for the property.
More than 200 people attended the auction of a house at 307 Gympie Tce, Noosaville, at the weekend.

This property at 307 Gympie Terrace, Noosaville, sold for $3.075m.

Auctioneer Gordon McDonald accepted the first bid of $1 million and the hammer fell 60 bids later at $3.075 million.

Mr Offermann said the agency sold eight of the nine properties taken to auction at the weekend.

“Only one didn’t sell but it has multiple bidders and will be sold,” Mr Offermann said.

“Our clearance rate for 2019 was 76 per cent. That includes sales afterwards, but is still well above Queensland’s average.”

In the past six months, an apartment in the sought-after ‘La Mer’ building on Hastings Street sold before auction for $7.1 million, while a waterfront home at 49 Witta Circle fetched $5.67 million under the hammer.

The view from one of the bedrooms in the house at 13 Witta Circle.

Tom Offermann, principal of Tom Offermann Real Estate.

Mr Offermann said the over-50s were the main demographic on the hunt for properties in Noosa.

“I’m seeing a lot of babyboomers that have now helped their children buy their houses and they’re not seeing the point of leaving money in the bank, so instead they’re indulging in lifestyle properties here,” he said.

“A lot of these people have another holiday home elsewhere and a place at Noosa.”

The view from the home at 13 Witta Circle, Noosa.

Noosa’s top-end property market has been on a winning streak since the town cracked the $10 million mark to pave the way for several double-digit sales.

The most expensive home sale in the Noosa region stands at $18 million for the property at 21-23 Webb Road, Sunshine Beach.

In the same suburb, the founder of Betty’s Burgers is selling the mansion he bought for more than $15 million less than two years ago.

This property at 46 Seaview Terrace, Sunshine Beach, was sold by Pat Rafter in 2018 to Betty’s Burgers owner David Hayes.

David Hales has put the beachfront property at 46 ­Seaview Tce on the market with a $20 million price tag, but Mr Offermann, who is marketing the property, believes it will fetch that.

Mr Hales purchased the home from tennis great Pat Rafter in January 2018, when it became one of the most expensive properties ever sold on the Sunshine Coast.

The property at 46 Seaview Terrace, Sunshine Beach, is now on the market for $20m.

“There’s no resason for the market to change, interest rates are remaining low and unless there’s a financial calamity nationally or worldwide, I think it’s steady as she goes for Noosa with very tight supply of available properties,” Mr Offermann said.

“Typically people ask us the question; ‘Where else would I go if I sold?’ and we don’t have many options for them.

“Someone has to check out of Noosa for someone else to check in.”

The median house price in Noosa Heads sits at $1.095 million, while Sunshine Beach is now $1.216 million, according to CoreLogic.