Prestige Property Market Report

There is only One Noosa | June 24, 2024

For those who have been holding off believing or hoping that the Noosa real estate market would retreat after the frenzied activity in the early 2020s with the rapid rise in interest rates, it looks like those hopes have been dashed. Moving forward low inventory of available property could be the new norm.

Increasingly, properties in Noosa are being treated as generational assets being handed down to family rather than being sold into the open market. Gone are the days when it was a speculative market with owners flipping properties for a quick profit. For example, there were times when buyers had the choice of over 50 waterfront houses to choose from on Noosa Sound, however today there are just two. Sunshine Beach often had 5-10 houses available on the beachfront, and today there is only one which will hit the market in Spring.  Also, it’s been years since a 3-bedroom apartment facing Noosa Main Beach has been sold.

The basis of the supply shortage is the fear of ‘where would I go if I sold’. People who have settled and invested here simply don’t want to leave.  Lately there has been a higher than usual number of owners shifting houses within town, upsizing/downsizing or just trying another suburb.

As the owner of a managed property, it is comforting news your investment is prospering.  We’ve achieved strong gains for clients over recent months, including a $30m sale, all of which have positively influenced values. Whether helpful for future planning or you’re simply curious about the current value of your investment, don’t hesitate to ask for an obligation-free update.

Some exceptional offerings worth considering include Little Cove, with three very different properties ranging from a 3-bedroom front row apartment in the seldom available boutique Bayona complex, a 3 bedroom penthouse in the 3-apartment Anse Vata building on Park Road near the National Park, and a 6-bedroom stunner on the escarpment overlooking Noosa Main Beach. In Hastings Street we have two 3-bedroom apartments available, one in The Hastings and the other in Sebel Noosa Resort – two interlinked, so one-of-a-kind. If waterfront living is your preference, take a look at the brand new 4-bedroom house at 19 Key Court on Noosa Sound. Coming soon at Sunshine Beach is a front row house on the beach, with the Coral Sea as its backyard. See them all and more on our website here.