'Incredible capital growth': why investors should be eyeing Noosa's prestige property market

It’s one of the most beautiful coastal towns in Australia – and now Noosa is officially home to one of the country’s most breathtaking prestige property markets, too.

Latest figures from the Domain Group show that the median price of apartments in Noosa Heads leapt by the highest percentage of any other local government area in the country over the past five years, by 80.4 per cent, while houses rose by a substantial 57.5 per cent.

And that stunning growth could not be characterised more clearly than by the price history of one glorious house at Sunshine Beach now on the market.

Nearly two years ago, the seven-bedroom home at Seaview Terrace was sold for $15.2 million by tennis champion Pat Rafter.

Today, it’s being offered – albeit with a complete refurbishment and upgrade in the meantime – for an astonishing $20 million.

“There’s been incredible capital growth over the last couple of years in Noosa and it continues to be a very buoyant market,” says selling agent Tom Offermann from Tom Offermann Real Estate.

“People are having difficulty finding better forms of investment than property with the banks having problems and shares being so volatile,” Offermann says.

Paul Arthur, chief executive of Queensland Sotheby’s International Realty, is now considering opening a new prestige property office in Noosa after testing the waters with the 13-bedroom, Hayven estate at Noosa Waters listed with price expectations of more than
$12 million.

“Noosa’s had a real resurgence and we’re seeing a lot of high-net-worth individuals out of the southern states and New Zealand who want to spend the colder months there, as well as downsizers and younger professionals and families mostly in the tech space.”

Limited land, a council keeping a tight rein on development and population caps have all helped to keep the property market in Noosa strong, says president of the Noosa Chamber of Commerce Janet Kake.

“It’s all about supply and demand and we have a limited number of properties and area,” she says.

A three-bedroom apartment at 55 Hastings Street has also just sold for slightly under $11 million, smashing the record for an apartment price on the Sunshine Coast.

“People’s priorities are changing these days,” says agent Roark Walsh of Tom Offermann Real Estate.

“They’re looking for lifestyle and climate and cashed-up buyers are coming out of Sydney, Brisbane and Melbourne, as well as expats.”

Three homes in the area

8/27 Ross Crescent, Sunshine Beach

Located within the idyllic Beach House estate near Sunshine Beach, this multi-level property is surrounded by lush foliage and has water views, a pool and a Gaggenau and Miele kitchen.

The flexible layout includes a lower-level living room that could also work as a studio or retreat.

The four-bedroom, three-bathroom residence has a $4.3 million price guide and is for sale through Mike Hay and Rachel Sellman, of Century 21 Conolly Hay Group.

1/56 Ferguson Street, Sunshine Beach

This luxurious four-storey villa is only a short stroll from the beach, but on days when you don’t feel like venturing outside, there’s a 10-metre pool with a deck to keep you cool.

The home has a Hamptons-chic look and boasts multiple outdoor entertaining areas, including a rooftop terrace with an impressive outlook over the neighbourhood.

Richardson & Wrench Noosa agents Shane McCauley and Frank Milat are seeking a buyer for the four-bedder.

11 Key Court, Noosa Heads

The design behind this waterfront house is all about maximising the view, which you can take in from all four bedrooms, the large deck and the upper-level balcony.

Situated within walking distance of Main Beach and shops along Hastings Street, the property could offer an extra source of income, given it is currently being used for holiday letting.

Dan Neylan and Will Hanton from Dowling Neylan have the listing.