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Who buys in Noosa anyway?

Alex Harris - Noosa4Sale - 22-Oct-2017 Long ignored by Brisbanit’s, Noosa is now the destination of choice for Brisbane holiday makers, investors and more recently, home owners. 

Of the 12 units I have sold in the Sun Lagoon Resort alone in the past 2 or so years, 7 have gone to Brisbane buyers, 3 to Sydney buyers, and one each to New Zealand and UK buyers.   
 
This is representative of what is happening across Noosa's property market right now.   
 
It is a real generational and geographic shift in buyers.     It started late 2015, but it was around July last year that it really became noticeable with two distinct Brisbane buyer profiles developing.   

Young families in their 30s and 40s started buying holiday units, and for a whole host of similar reasons.  

  • Our dollar dropped back down to the 74-78 cent mark so holidaying at home is more economical than overseas.   
  • We continue to enjoy low interest rates making a holiday home purchase financially viable for more people.  
  • Nostalgia… I get a real sense of people trying to re-create their own childhood memories of relaxed beach holidays for their children today.   
  • A resurgence in family, with multi-generational holidays makers and extended family groups buying property together.  
  • And I feel there was an awakening last year as to what great value Noosa property remains for out of town buyers.   

The second buyer group is in their 50s and 60s starting to think about retirement and where they want to live when work is not all-consuming, and that decision is lifestyle-driven.  

For many, it is increasingly focused on Noosa.  

The laid-back village where everyone knows your name, the easy walk to what’s important (restaurants, shops, water sports, golf), the 5-10 minute bicycle or driving radius for absolutely everything you could possibly want or need (groceries, medical, education, clubs etc), and overwhelmingly it is about downsizing the investment in bricks and mortar without diminishing the style or size of home.  

Right now I am selling 4 bed 2 bath solid brick and tile homes for mid-$500s and less; beautiful near new retiree or new young family homes for $700’s (without a pool) and executive style homes in the $900s - across Noosaville, Noosa Heads, Tewantin anCooroy.  

And prestige waterfront or country-estate style property is available from $1.8m-$3m. 

Worried about your kids not being able to buy into the Sydney, Melbourne or Brisbane property markets? Have them buy here instead.  

Noosa’s property market represents enormous value comparative to southern markets. 

It is a market of champagne taste on a beer budget - a rarity in today’s world. But it won’t remain that way for long.  

Our rental market is tight with an average 4.7-to-5% yield, so we have middle-aged buyers snapping up houses to rent out for 5-10 years ahead of selling up in Brisbane or Sydney to permanently relocate. 

It is driving a resurgence in our housing market with a change in median price in Noosa Heads over 5 years of 19.3% and in Noosaville, a median change over 5 years of 29.5%.  

Over a 10 year period that median price growth is at 3% and less, so you can see the growth is recent and accelerating. 

Noosa's attraction as a low-cost entry property market won’t last forever. As soon as Qantas starts flying daily from Melbourne, this capital growth will be amplified. 

Of significance is the difference in our unit markets.  

Capital cities have an over supply of unit developments and the ANZ Bank just last month changed its lending criteria for certain suburbs in Brisbane and Sydney for this reason.  

But one of the things we have really suffered from in the Noosa area is a dire shortage of residential apartment stock and specifically, a massive under supply of new apartment developments.  

With a majority of units in Noosa being within 35-year-old holiday resorts, it has been a long-time frustration for would-be owner-occupier buyers. 

We have retirees and empty nesters wanting single level apartment living, we have young professionals wanting a modern community lifestyle, and nothing for them to buy, UNTIL NOW. 

Noosa4Sale has some very exciting projects in the pipeline to be released shortly.  

Make sure you register your interest ASAP to receive information on new off-the-plan apartment developments and new very limited land releases. The opportunity to buy at today’s pricing will be fleeting. 

https://www.noosa4sale.com.au/register-your-interest-in-new-apartment-land-developments-in-noosa/ 

 

Featured Property 

 

8 Carruthers Court 

4 bed, 2 bath, 2 car $499,000 

 

Much bigger than it looks from the street, this single level home with soaring ceilings brings a sense of stately space to this gracious home on nearly 700sqm of low maintenance level land. 

Impeccably presented and in an elevated position, this well-designed brick and tile home with covered outdoor entertainment area offers a great deal more than meets the eye. 

Step inside to vast light-filled spaces that flow through to a central kitchen, with open plan family and dining rooms with glass sliding doors both sides, creating multiple indoor-outdoor living zones and every chance of catching whatever breeze is going. 

At its heart is the all-weather private alfresco area with sandstone flooring served by the spacious functional kitchen. 

Easy walk to shops, cafes, restaurants, brewery, RSL, newsagents, hardware stores, library and more. 

 

See more: https://www.noosa4sale.com.au/property/8-carruthers-court-cooroy-qld-4563/