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Noosa’s Most Expensive Homes in Hot Demand from Buyers Across the Globe

Most Expensive Homes

The COVID-19 storm has spawned a hurricane of home sales across some of the Sunshine Coast’s hottest tourist magnets as property punters report unprecedented buyer action from city-based sea-changers in search of a pandemic-free paradise.

The rise of remote work and virtual inspections amid record low interest rates has further sparked the coastal migration with popular hub Noosa clocking millions of dollars in sight-unseen sales alone during the past month.

Adrian Reed, from Reed & Co Estate Agents in Noosa, said buyers from Brisbane to as far away as Hong Kong had pounced on the region’s high-end market, with the agency transacting $60 million in sales from April until August.

“It feels like there’s a gravitational pull towards those idyllic locations … and this trend has continued throughout COVID,” Mr Reed said.

“We sold $26 million in the past couple of months alone sight unseen.

“They are buying from abroad and domestically and then from Brisbane … and I think it’s likely to continue.”

Most Expensive Homes

He said the skyrocketing sales action had particularly centred around Noosaville, with $6 million of off-market property sold in the past six weeks.

The agency also clocked the latest Noosaville record for the spectacular mansion at 32-36 The Anchorage, which fetched $12 million. The property features 13 bedrooms and was the former home of the late businessman and founder of Hayco, Donald Hay.

Dan Neylan, from Dowling and Neylan agency in Noosa, said in his 27 years of real estate experience he’d never seen such incredible buyer activity.

“The average time on market for us has shrunk back to three weeks and most of our auctions are not even getting to auction,” he said.

“We had a sale for an apartment on the weekend where the reserve was expected to be $5.5 million but it sold for almost $6.5 million.

“Our biggest one was the sale of 46 Seaview Terrace which was Pat Rafter’s previous home – and that was sold in excess of [a record] $17 million at the end of May to the Rudds. They just saw the long-term value of Noosa.”

Expensive Homes

Mr Neylan said interstate buyers were particularly snapping up homes like hot cakes with the agency handling more sight-unseen sales than ever before.

He said many home hunters claimed the growing work-from-home-movement had finally allowed them to have a remote career from an idyllic place – and they were wasting no time pouncing on regional, coastal destinations.

“The future for us is pretty rosy and that’s going to last for the next two or three years and by then the international airport will be finished,” he said.

Tom Offermann, from Noosa’s Tom Offermann Real Estate, agreed the fierce buying storm was set to continue during spring with Brisbane buyers competing against interstate and overseas house hunters.

“This winter was like no other and out of the disruption caused by COVID came a storm of buying activity,” he said.

“We’re also seeing capital growth rates between 10 and 15 per cent … with the hot locations typically on the riverfront and the beachfront.”

most expensive house

Mr Offermann said last week’s sale of apartment 1 at Noosa’s prestigious Little Cove for a cracking $6.3 million following 38 bids from eight buyers, was the perfect example.

“This sale capped off another very successful week … with a string of high-value sales which included two breaking $10 million.

“There’s also been a string of nine sales between $5 million and $12 million but we can’t announce them yet because they haven’t settled.”

Despite the strong selling activity Mr Offermann said their agency was running at about 50 per cent of their normal stock levels, with nervous vendors still reluctant to pull the trigger amid the global uncertainty

 

This article is republished from https://www.domain.com.au/ under a Creative Commons license. Read the original article.

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Developments

Habitat Development Group launch The Corso apartments in the heart of Maroochydore

The Corso apartments

The local Sunshine Coast developer Habitat Development Group has launched its latest Maroochydore, Sunshine Coast project.

The new $94 million development The Corso will bring 158 apartments to the heart of the growing Sunshine Coast hub at 20 South Sea Islander Way.

Designed by Sunshine Coast-based K Architecture, tower one comprises 116 apartments including five penthouses, while tower two will home 42 apartments and 715 sqm of ground level retail.

The Corso is Habitat’s second Maroochydore project, a rare opportunity as the only residential apartment building within the new Maroochydore City Centre that’s currently for sale.

Following an open plan layout, the one, two and three-bedroom apartments feature stainless steel appliances, 40mm stone benchtops and kitchen islands, as well as floating vanities in the bathroom.

Along with ocean and hinterland views from the apartments, residents will also benefit from extensive onsite amenity, which includes a large resort-style pool, integrated barbecue facilities, a vast private garden terrace and an exclusive resident’s dining room and lounge.  

Construction is expected to kick off in June, with completion slated for mid 2024.

Habitat Development Group sales agent Conor Cochrane said they’ve heard from every kind of buyer since the project launched.

“The response from the market since launching has been phenomenal with an overwhelming number of enquiries resulting in sales across all product types from 1 bed units right through to Premier Penthouse Units at over $2 million,” Cochrane said.

“We’re excited to be commencing construction at The Corso in the comings weeks, further strengthening our commitment to the Sunshine Coast and supporting local trades and suppliers.

About the developer

Founded in 2005, Habitat is a leading Sunshine Coast- based property development company that specialises in the residential sector.

The group previously sold out their $83 million Maroochydore project Market Lane, with The Corso expected to follow suite.  

The team are hoping to have development approval for their 200-apartment St Claire development in Birtinya in the next few months.

 

 

Article source: www.urban.com.au

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Property Investment Advice

Everyone’s a winner: Property market where it’s almost impossible for sellers to lose

Property market where it's almost impossible for sellers to lose

Home sellers were delivered huge profits of a median $319,000 in the December quarter, according to CoreLogic.

The Pain and Gain survey showed that coastal regions were more likely to generate profits and on the Sunshine Coast it was almost impossible to lose with 99.5 per cent of sales achieving a nominal gain.

Nationally the median holding period for profit-making resales was 9.2 years and while properties held for more than 30 years had the highest total median return ($770,000), properties held for two years or less had the highest nominal gain per year of $150,500.

Regional Australia had a higher rate of profit than Australia’s combined capitals at 94 per cent versus 93.7 per cent, respectively.

CoreLogic’s head of research Eliza Owen Investors said investors had a lower incidence of profitability (91.4 per cent) than owner occupier sellers (96.7 per cent). This was likely to be because of the higher incidence of unit ownership among investors.

The report analysed approximately 133,000 resales of property that occurred over the course of the December 2021 quarter, a significant uplift from the 99,000 dwelling resale transactions during the September quarter, which coincided with lockdown restrictions in many parts of the country.

The national median nominal gain was $319,000 with total resale profits of $38 billion over the December quarter. The median loss was $34,000.

 

Article source: inqld.com.au

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Developments

Plans for 13-Storey Tower Filed for Sunshine Coast

Plans for 13-Storey Tower Filed

Development applications for the Sunshine Coast’s new greenfield $2-billion CBD are continuing to flood in, with a mixed-use tower on a 3500sq m site on its northern edge the latest.

The development will form part of Sunshine Coast Council-owned SunCentral’s new 53ha central business district—one of Queensland’s largest urban regeneration projects—in Maroochydore.

The 13-storey development has been put forward by Capital 22, a private entity headed by commercial property lawyer and SunCentral secretary John Gallagher.

The prominent corner site is made up of two lots purchased for a combined $6.5 million; 132 and 134-136 Aerodrome Road.

The site is currently occupied by two retail centres—Neighbours Aid and Salvation Army Family Store—and is next to Bob Jane T-Marts.

Capital 22’s proposed project, designed by Cottee Parker, will include three levels of office space and parking for 250 cars across the building’s three-level podium as well as a communal area with a pool and terrace on the fifth level.

It will offer 100 apartments in two- and three-bedroom configurations which the developer plans to release as a mix of short- and long-term accommodation.

Sunshine Coast’s new central business district, formerly the Horton Park Golf Club, has been transforming rapidly since council paid $42 million for the sprawling site in 2015.

The under construction CBD will eventually offer 68,000sq m of commercial space and 25,900sq m of retail floorspace along with 1400 residential apartments across a number of precincts.

It will also feature a 250-key hotel, 40,000sq m of retail and a new entertainment space.

New teaching and accommodation facilities for Sunshine Coast University are also part of the master-planned CBD with John Holland overseeing the $200-million construction contract.

The city centre’s first buildings include an eight-storey commercial property by local developer Evans Long and a two-tower, 150-unit residential complex, Market Lane Residences, by Brisbane’s Habitat Development Group.

The new nine-storey Sunshine Coast Regional Council headquarters building is also well advanced and being finalised by builder McNab.

Late last year, Barwon Investment Partners put forward plans for a $100-million, 10-storey surgical hospital on Mundoo Boulevard.

Billionaire property mogul Lang Walker’s development firm Walker Corporation has filed plans for a 15-storey building at 50 First Avenue, designed for ASX-listed companies, as well as government, banking, insurance and technology sector tenants.

The project, which Walker claimed was “the single most sophisticated contribution to the commercial office market” on the Sunshine Coast, has been designed by Cox Architecture and will hold a 5-Star Green Star Rating.

Walker also has plans for a nine-storey car parking, retail and dining mid-rise development at 110 Market Street

Prominent Sunshine Coast developer Mal Pratt is planning to build a mixed-use “groundscraper” across a 5500sq m site at 36-46 Aerodrome Road and 44-48 Parker Street.

Meanwhile, Pro-Invest Group is adding motel and retail space to the CBD in a bid to capitalise on the growing number of corporate professionals living in and visiting the region.

Its planned Holiday Inn Express and Suites on First Ave will have 180 guest rooms, a rooftop swimming pool, bar and dining venue along with parking, retailers and conference facilities.

 

 

Article source: www.theurbandeveloper.com

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