Prestige Property Market Update November  2023

BUYING BLITZ $90M SOLD IN 30 DAYS | NOVEMBER 27th 2023

Thirty days and over $90 million in property sales, transacted by the Tom Offermann Real Estate team demonstrated remarkable success, and totally unrelated to the traditional November Black Friday sales frenzy.

Notably, four sales exceeded $10 million, with the enchanting Azure residence at Sunshine Beach selling at auction for $13.5 million, setting a new suburb record for non-beachfront houses.

Record prices were not limited to Sunshine Beach. We also achieved a new hinterland record with the sale of Barellan, a 19ha peninsular estate surrounded by the pristine 2.5kms foreshore of Lake Macdonald. The sale price will be disclosed after settlement. Similarly, the record-breaking sale price of 701 The Palms in Noosa Springs, one of the golfing precinct’s most beautiful homes, will be announced post-settlement.

In Noosaville, 177 Gympie Terrace sold for $6.4 million at auction, setting a new house record for the popular riverside terrace. Additionally, we sold two riverfront homes on Wyuna Drive, each surpassing the previously highest prices paid for this exclusive Hideaway Island location.

The highest sale of the year in Noosa, and possibly Queensland, was a 3500m² beachfront estate in Sunshine Beach, which was recently sold, and the price officially announced post-settlement.

Our team currently has a larger backlog of buyers than ever before, reflecting the eagerness of people to invest in their lifestyle in one of the most beautiful locations in Australia. Many buyers who patiently waited for price drops after the post-COVID surge, now realise the risk of waiting, as prices continue to increase. We often advise buyers not to wait buying real estate, rather buy real estate and wait. Time in the market holds greater importance than trying to time the market.

A pent-up demand combined with a shortage of available properties has supported property prices during the past 18 months, amidst interest rate rises and an uncertain geopolitical environment. We maintain an unwaveringly positive outlook on the Noosa property market, both in the short and long term. This positive attitude is greatly appreciated by owners when they choose to sell through our company.