Prestige Property Market Update

a stellar financial year| June 27th 2022

A sea of statistics confirms what an almighty year 2021/2022 was for the property market across the Sunshine Coast with Noosa leading the capital growth stakes. Year on year Sunshine Coast house values grew by 24% and apartments by 27%. The highest house growth by suburb was Noosa North Shore with 58%, followed by Sunrise Beach and Marcus Beach at 53%, with Noosa Heads increasing a massive 41%. Locally the suburbs with the highest apartment growth were Peregian Beach and Sunshine Beach at 42%, and Sunrise Beach at 40%.

32 Noosa Parade. Sold for $16.2M


Across the Noosa Shire there were 2012 property transactions in the financial year totaling $3.2B, down from $3.6B in the previous year with the top 50 sales all above $6M and the highest at $28M for a beachfront home in Sunshine Beach.


3 Paluma Street, Sunrise Beach. Sold for $2.15M at auction

Buyer hesitancy developed during the final three months of the financial year, a reaction to higher prices and the first interest rate rise in 12 years, plus there was also the distraction of a Federal election. Sales volume on the Sunshine Coast dropped about 20% which is still much higher than average. Even if interest rates go to 4% or even 5% they are still historically low and are unlikely to significantly dampen the appetite buyers have for Noosa real estate, especially in the key locations.

Many buyers come from interstate with migration into Queensland running hot. It was no surprise the approximately 20,000 who move here every quarter had sunshine and a world-class lifestyle as the top reasons. About 14,000 came from New South Wales and 5000 from Victoria, which is why Queensland is holding up better than the southern markets.

Migration into Queensland running hot

The current economic circumstances are unique so there is no history to rely on to predict the market ahead, however supply and demand are always reliable indicators so let’s take a look at them. Demand remains at strong levels, and we know from our conversations every day there are a year’s worth of buyers who will move here when they finish working, sell their houses, or find school places for their children’s education etc. Supply remains extremely tight with less than 1% of properties on the market compared to 3 to 4% in a normal balanced market, but owners not surprisedly are seriously reluctant to part with their Noosa asset knowing the difficulty of replacing it.

The Noosa market starts the new financial year in good shape and whilst there is some hesitancy in the market, this could be the buying opportunity you have been waiting for.