Noosa Real Estate

ABOUT THE AREA

Winner of the prestigious Premier Award for Excellence and Queensland\'s Best Waterfront Development in both 1996 and 1997, Noosa Waters offers an exquisite residential lifestyle with a strong community atmosphere.

Consisting of 928 lots over 45Ha with 471 residential lots fronting a man-made canal system which is connected to the beautiful Noosa River, Noosa Waters was developed over nine years beginning in 1991. It has a most sophisticated lock and weir system. Water is pumped in daily and gravitates back into Noosa River constantly resulting in high quality water utilised for swimming, boating, fishing and crabbing. The wide waterways are approximately 2.4m deep and a vessel under the height limit of 4.2m can gain entry under the bridges. The lock system caters for boats up to 15m in length and 4m in width. Access to Noosa Waters is only given to the waterfront property owners by way of a security sensor card.

Within this development there are 31 well-manicured parks, a recreational oval and croquet court offering children\'s play facilities, a place to relax, privacy and separation between residential sections.

Noosa Waters is centrally located within walking distance of thriving Noosaville with its river esplanade lined with restaurants, cafes and shops. It is also just 5 minutes from Hastings Street and 2 minutes to a neighbourhood shopping centre. It is the last of any waterfront development in Noosa and has already been highly sought after by locals, southerners and overseas residents.

Capital growth has exceeded all expectations with land opening prices tripling for dry allotments and waterfront blocks in some cases increasing by 600% over the previous ten years.

MARKET REPORT

Noosa Waters  Waterfront Properties

According to February Money magazine, the Noosa market appears to be recession proof market, or close to it. This is a big call, and an over generalization, but certainly the waterfront housing market in Noosa Waters is the best example. The physical constraints and the population cap will help push values higher in the long term. The Noosa Waters waterfront estate continues to outperform as the wide waterways, parks, and access to the Noosa River are an enormous draw card to baby boomers and sea changers across the board!

The most recent sales, in the last two weeks, are two exclusive north facing waterfronts on the most elite street in the estate, The Anchorage. Number 8, designer Paul Clout's own home, asking price $4.5M sold last week and our office sold 22 The Anchorage, in record time for close to the asking price of $3.85M. These two significant sales in a buyers market will further boost confidence and with the shortage of waterfront land available in the Noosa Shire, coupled with increasing demand, the prices can only escalate as the stocks dry up. On top of last weeks record sales, our office has sold 1 The Promontory, a large 997sqm block of land for in excess of $1.5M, a two year contemporary home in Waterside Court for close to $2.2M and a vast open plan modern home in Masthead Quay with an asking price of $1.85M.

We are currently marketing 11 Mermaid Quay, a John Mainwaring house, very contemporary, with four bedrooms, three bathrooms and a stunning north facing position for $2.8M. Back on The Anchorage, numbers 5 and 19, both architecturally designed, very different styles but with outstanding long water views are listed at $2.5 million, and both represent excellent value. Just listed is a north facing four bedroom home with the absolute perfect view across the Saltwater bridge for $2.1M.

Our office is also representing an array of other properties in Noosa Waters:
67 Shorehaven Drive $2.95m long water views, 39 The Peninsula $1.75m, great buying at this price, 33 The Peninsula $1.79m,single level home with extensive long water views.

At the moment there is an above average number of properties on the market and sellers are adjusting their expectations. The time to buy on the waterfront is now, as the serious seller will meet the market to get their property sold. Actual sale values are holding up well, better than anywhere else in Noosa, and the migration from down south and overseas continues in full swing- the time to market and sell your property is right now..

Report updated April 1 2005

For details contact Anna Fraser 0414 929099 or annafraser@remaxnoosa.com.au

Noosa Waters  Non waterfront Properties

The past 3 months have continued to have their trials and tribulations. The market has had buyers but they are looking to pick up property at a price that has been affected by time on Market, having seen seller's high expectations on their propertys, but unfortunately the prior rapid growth experienced has certainly not continued. If anything, with the interest rates having seen an increase of 25 percentage points and stock levels on the increase,downward pressure on prices is more than evident.

At RE/MAX Noosa, we have seen an increased level of buyer activity both in enquiry emanating from local press advertising and through our program of Open for Inspections. The buyers however are increasingly well informed on market conditions and the period of time a property has been on the market for sale. Offers and subsequent contracts are being negotiated for property where the vendors have astutely positioned their price realistically. Buyers are seeking out properties that show value in comparison with the other competitive properties available, and those correctly priced taking a minimum period of time to sell. Additional reasons to discuss the sale of your property with professional agents who are prepared to advise a listing price that is based on facts, research, market conditions and is realistic.

Noosa Waters Dry Market

Stock levels are now at 22 properties for sale or 5.9% of the dry homes on the estate. An example is a home located at 9 Seacove Ct. which is being taken to Auction on the 9 th April. This is a property that will attract renovators looking for an opportunity to purchase in the lower end of the market.

Sales in this last period have been solid for the conditions that currently prevail.
20 Shorehaven  a 4 bedroom home on a large block, completely refurbished with style has sold for $920,000
8 Genoa , a substantial 2 storey home on a large block and in a quiet cul de sac achieved an $845,000 sale price.
An executive style home in Sternlight St. recently completed sold in the region of $1.1 million, emphasising quality, presentation, and excellent price positioning.
A good quality, well designed 3 bedroom plus study home in Saltwater Avenue was snapped up by a New Zealand buyer for $845,000.
A renovator on Shorehaven Drive lasted only a couple of weeks when priced at the lower end of the market (Sell Price $645,000).

Headlands Estate

Stock levels are now at 12 homes for sale and 10 blocks of land in this estate.
RE/MAX have an Award Winning 4 bedroom plus study home in Treasure Cove for $979,000  excellent value.
An architecturally design home in Headland Drive recently went under Contract for a price well in excess of $1.1 million.
Another just further up the street initially being offered at $935,000 sold for $825,000 fully furnished  a 3 bedroom plus study home.

Units.

13 Duplex Units/Townhouses (13%) on offer in this segment. Market conditions currently are encouraging sellers to reduce asking prices from inflated expectations, evidently much higher than the market was prepared to pay, to realistic levels. Prices had crept up to a level that had in some cases exceeded the asking prices of homes on the estate. This reduced gap between these two markets is again widening and sales interest will be on the increase in the coming months.

Report updated April 1 2005

For further details contact Derek Cunningham 0438741167 or derekc@remaxnoosa.com.au