The $10m+ view that sold 62 Seaview Terrace, Sunshine Beach on auction day.

Prestige Property Market Update 

locals on the move | march 21st, 2024

It’s a happy feeling when all the searching and negotiations are finally over and it’s time to pop a cork and celebrate securing your next home or investment pad, and if it is a Noosa property then it’s an even more special event.

Over the past month there’s been a big upswing in locals transacting, moving around, upsizing and downsizing or just trying a different suburb for a change. The recent high intensity local activity is not a trend, and the normal pattern of out-of-town buyers competing with locals will balance back to normal levels in tune with coming holidays and events. It’s fairly typical for February and March.

There was a burst of high value sales along the Eastern Beaches initiated with our sale of a beachfront cottage at 62 Seaview Terrace in Sunshine Beach for an undisclosed price, followed by 3 prestige houses we sold in the $8 million’s at 11 Webb Road and 29 McAnally Drive in Sunshine Beach, and 26 Lorikeet Dve, Peregian Beach. Our team also just sold 27 McAnally Drive at auction for $5.8 million, completing a trifecta of sales in the street raising $27.5 million for our clients.

Interstate investors bought a string of holiday apartments in and around Hastings Street including a $5 million Villa in Morwong Drive’s Noosa Residences, a house in Upper Hastings Street for a little over $4m, and units in Netanya, The Cove, and The Hastings all circa $2.5m representing superb value for these prestigious locations.  

Our auction sale of Villa 12 The Hastings for $2.55m is a testament to Noosa’s spectacular investment potential.  I recall selling this freestanding Villa on the southern side of Hastings Street to the seller for $97,500 in 1987, and he has enjoyed 9.2% average annual growth over the past 37 years, capital gains tax concessions, depreciation benefits, rental income, and many happy holiday times. It simply just became time for him to cash out of a hard to beat investment.

Keep an eye out for some stunning new properties coming onto the market for discerning buyers this month, including a brand-new waterfront home on Noosa Sound’s Key Court, and one of Noosa Parade’s finest homes.  

Agency Awards 

We are extremely thankful to our clients who have again voted us 2024 Agency of the Year for Noosa Heads and Noosaville.  Rate My Agent awards are based solely on client feedback and so are one of Australia’s best measures of an agent’s performance.