Prestige Property Market Update

Sun shines on noosa luxury | october 2021

The prestige property market is booming with architectural flair and beachfronts highly prized. October was no exception.

A world-class apartment in Hastings Street Noosa Heads with explosive views over Noosa Main Beach and Laguna Bay, smashed the Queensland sales record, and the uber-luxe Coco Privé residence which was marketed as ‘beyond expectations’ in Bayview Road Little Cove has achieved a new sales record for Little Cove.

5-81 Hastings Street sold $16,100,00

The 4-bedroom 4-bathroom lavish apartment in Hastings Park (81 Hastings Street opposite Sails Restaurant on the beachfront) sold at auction by Tom Offermann Real Estate for $16,100,000, surpassing the previous Hastings Street record $14 million for an apartment the company sold in Noosa Court, early 2020. Despite the eye-watering price, the apartment represents excellent value, and will prove to be a AAA-rated investment for the new owners, who will continue to let it out through Niche Holidays Noosa. The search is now on for a place to suit the three bidders who missed out.

Tom Offermann was tight-lipped as always about the buyers. “I can understand everyone’s curiosity of finding out who can afford to buy a holiday apartment for this much money, but a lot of clients like to stay under the radar, and that’s an obligation our team respect.”

1-7 Bayview Road sold $13,500,000

The same weekend, Coco Privé a magnificent new residence at 1/1-7 Bayview Road, a few minutes from Little Cove Beach and nestled into the Noosa National Park, described as “indisputable luxury on tap,” was sold under the hammer for $13,500,000. It attracted an excited crowd of 140 and nine registered bidders.

Little Cove Unit sold $2,295,000

All five properties slated for auction that weekend sold, including a two-bedroom Little Cove apartment for $2,295,000, a residence in Surfside Court Sunshine Beach for $6 million, and a Queenslander on acreage for a little over $3 million.

Earlier in the month a home built in 1970 on Picture Point Crescent overlooking Laguna Bay sold at auction for $16,450,000, however when it comes to a landmark sale, Tom Offermann Real Estate is credited with the sale and residential land record for Noosa Heads, with 7 Noosa Parade sold for over $15 million. It was the very first building on Noosa Sound and has been a sales office since 1974. The existing two structures (includes three apartments waterside of Witta Circle) will be cleared to make way for a stunning residence, which will no doubt also make an outstanding gateway statement to Noosa Sound.

Surfside Ct sold $6,000,000

$14,250,000 was the knockdown price for 20 Arakoon Crescent, a Sunshine Beach beachfront holiday home that Offermann’s team sold at auction in late October. It is the latest level set in the never-ending hunt for buyers to obtain a front row seat on the beach

20 Arakoon Cres sold $14,250,000

Looming border openings herald the welcome return of interstate visitors who have been transacting business often via virtual inspections, however according to Tom Offermann “for every interstate person who has been willing to purchase sight unseen, there have been at least half a dozen who have signaled intention of making their move once they can visit. Some are already selling their homes and booking places in schools.

“This is a clear insight into the months ahead, also longer term, with property in the Noosa Shire remaining in strong demand, supported by low mortgage rates and an expected growth rate leading up to the 2032 Summer Olympics in Brisbane.”

161 Dath Henderson Rd sold $3,010,000

In the meantime, do not give up on living the Noosa dream by feeling priced out of the market. There are affordable properties, for example Tom Offermann Real Estate sold a two-bedroom 2-bathroom townhouse in Noosaville for $700,000 last week. And if you are thinking about cashing in on the buoyant market, downsizing or upgrading, this is the ideal time to jump in and take full advantage.