Noosa Hill and Cooloola Real Estate

NOOSA HILL

Noosa Hill has always been a popular location for locals in the know tucked up in the trees only minutes on foot from Hastings Street with its sophisticated shopping, dining and beach resorts, it is also just a stroll down to Noosa Junction business centre. The views from the Western elevation of Noosa Hill afford some of the most spectacular sunsets overlooking Noosa's river system while those with a Northerly aspect look across Laguna Bay to the North Shore. Properties on Noosa Hill range from the cheap and cheerful up to luxurious resort style living. Quiet leafy streets and an interesting blend of architectural styles have created a cosmopolitan niche market which has grown ever more popular with investors and owner occupiers.

COOLOOLA

The area to the west of Noosa Junction is known by locals as the Cooloola Estate, it was subdivided as residential home sites in the early 1970's. The area has developed over the past 30 years into a secluded residential enclave with a mix of older homes which are gradually being snapped up and remodelled to reflect our more casual Noosa lifestyle. The central location of Cooloola has drawn many long term investors back into the area and with the advent of Noosa Springs and The Habitat on its door step the area is developing its own prestige tag. Homes with Hinterland and River views are widely sought and rarely available. Blocks of land have virtually disappeared and those in the know are busy securing old homes in good streets with a view to updating them. Cooloola is dotted with parks, reserves and bikeways linking it to Noosa Junction's shops and back towards the Noosa River. Only a 15 minute walk to the river and Hastings Street this area will continue to enjoy strong patronage with locals keen to have ready access to all Noosa's amenities.

NOOSA HILL REPORT

Fondly known to the locals as Noosa Hill, the area above Noosa Junction shopping precinct and adjoining the Noosa National Park has been a tightly held residential pocket for many years. Tucked away from the day to day bustle of tourism, this handy location offers a mix of older style unit complexes, original beach shacks and some stunning new architect designed homes and duplexes. The lower reaches of the Hill also feature a range of holiday accommodation from budget style to premier prestige establishments. While the opportunity to purchase homes is limited, there have been a handful of homes listed over the past few months which have been marketed in the $1.3M - $1.9M range. Homes in this underrated area have been tightly held, with only one sale recorded over the past 3 months on Nairana Rest. With the likely road closure of Nairana Rest to public traffic, prices of homes are expected to increase.

There is also a smattering of resort style apartments and residential apartments currently listed for sale. Well priced older style apartments have seen a run of activity over the past month, with 3 generously proportioned Viewcrest units selling within weeks of each other. Noosa Hill stylish makeovers of older properties in prime residential pockets are slowly changing the streetscape, making the area a desirable place to purchase. The opportunity to build your own dream home is essentially restricted to the redevelopment of older home sites, and as very few properties are coming onto the market at this time, these are highly sought after. Land sales are rare at this time due to very little available vacant land left in the area, with only a January sale of 21 Attunga Heights at $750,000.

Vacant large parcels of land include the Thompson holdings on Banksia Terrace and Serenity Close, with subdivision approval for 33 residential land sites. Prices of these large 1000m2 plus blocks are likely to be in the $700,000 plus range. Serenity Close's planned development of 8 unit complexes is awaiting final council approval before the first complex begins construction. Units will reportedly start at $1,000,000. Road works have finished in Grant St. and 13 blocks on the lower carriage way will be going to public tender in late 2005. Prices may be influenced due to the new Youth and Leisure Centre to be built on the corner of Grant and Noosa Drive. Construction on Noosa Sanctuary at the Weyba roundabout has all but ceased.

Word has it that the site will contain three types of units from residential to holiday. Negotiations may be in play for the sale of the land. Like other areas of Noosa, the Hill is experiencing extreme shortages of good quality homes and units coming onto the market. Investors are always on the lookout for homes and 2 to 3 bedroom units with views. So if you are thinking of selling, this could be the opportunity to take advantage of our limited supply and secure a sale at an attractive price! Much has been written and said of late of the negative impact of interest rates on the market.

Recent figures show the median house price rose 12.5% across the Noosa Heads shire during the calendar 2004. 64 properties were sold in 1999 - 2000, compared to 125 for 2003 - 2004 on Noosa Hill. $301,000 was the average sale price for 1999 - 2000, compared to $580,000 for 2003 - 2004.

Recent Noosa Hill sales over the past 3 months have included:

Units

Viewcrest, 3 bedroom garden unit $415,000
Viewcrest, 3 bedroom upper level views $455,000
Viewcrest, 3 bedroom upper level views $472,500
Petrie Mansions, 3 bedroom penthouse views $900,000
Macquarie Lodge 2 bedroom apartment $417,000

Homes

Nairana Rest Stylish plus views $1,020,000

For Sale Now

Bottlebrush Resort 2 bedroom townhouse $325,000
Noosa Blue Resort 1 bed penthouse $398,000
Noosa Blue Resort 1 bed poolside $380,000
Sunset Cove 2 bedroom duplex $435,000
Petrie Mansions 3 bedroom residential $825,000
Belle Pacifique 3 bedroom residential $630,000
The Lookout Resort 3 bedroom luxury Auction

Report updated 1st October 2005

For more details please contact Diana Pound on 0418 426 065 or at dipound@remax.net

COOLOOLA AND WEYBA ESTATE REPORT

With 2005 coming to a close and reflecting on the latter part of the year, Cooloola estate has some fresh properties now on the market, a few that have been withdrawn, a few sold and others that have been waiting and hoping for many months for that certain buyer to come along and fall in love. Unfortunately the heart buyers are few and far between for the latter and most buyers are very educated on the market indeed, only homing in on properties with a finely tuned price.

In Tarina Street our office sold number 45 for $485,000 and number 39, a cottage in need of renovation, changed hands at $440,000. We also recently sold a very neat and tidy three bedroom home for $500,000 and number 1 Winbirra Way, an ex Boys Town prize home with commanding river and ocean views, sold for $1.2 million. At 19 Wyona Drive, a 1970 brick and tile cottage in an elevated position sold for $574,500 and 15 Warana Street sold through this office at $542,500. Sales for this last quarter have been quite thin on the ground indeed.

We currently have a selection of properties available through our office to suit a wide range of tastes and budgets. 6 Allambi Terrace is a truly stunning executive home for $1.19m and 34 Allambi is another beautiful home totally renovated and on the market at $1.69m. Also in Allambi Terrace, 42 is for sale at $635,000 and 47 at $499,000 - not much over land value here. In Tarina Street, 43 is a renovated home priced to sell at $515,000, 13 is available for $625,000 and across the road, number 8 is on the market for $545,000. 13 Currawong Crescent represents little over land value for a 3 bedroom ensuite home for $495,000. Over fifty five properties are on offer in Cooloola and Weyba estates combined, ranging from the $400,000 bracket to over $1.6 million. Buyers have plenty of options and for an effective sale, vendors need to be very mindful of price, presentation and marketing to achieve a desirable outcome.

Report updated December 2005

For further details please contact Lance Bussell on 0403134420 or lancebussell@remaxnoosa.com.au