Sunshine Beach Real Estate

ABOUT THE AREA

Many years ago, Sunshine Beach was a sleepy outpost of Noosa with fibro shacks, fishermen and surfers..It always had a following, particularly with the Brisbane professional and business set for a cheap weekender.Geographically bounded by the National Park to the north, the ocean to the east and the David Low Way to the west and south, land supply was always going to be a determining factor. As recently as 1995 it was still possible to buy absolute beachfront land for just over a half million dollars. There are only 70 beachfront properties in total, which has helped these prices to treble in 10 years.Sunshine really came of age in the mid 90's. Developers, with the supply of unit sites drying up, built on Sunshine sites previously regarded as economically unviable and a new price tier was established in the apartment market. The "village" shopping centre was established and the takeaway and convenience store image lifted to destination dining and boutique shopping.Behind the shops are rows of quiet leafy streets. Again an active renovation of these basic houses on small blocks has seen a less spectacular but nevertheless strong capital growth. Sunshine remains one of the locals most desired areas to live in, both for owners and tenants.

MARKET REPORT

The last quarter's activity has been characterized by the strength of the top end and continuing demand for quality, balanced with mild indifference for the remainder. Turnover is markedly down with only 7 sales as to 12 last quarter. Notable sales were in Arakoon Crescent of an existing residence at $2.475million, the sale of a superior home with views at 28 Enterprise Street by our office for $2.575 million, and 10 Surfside Court at $1.912 million. The average price was up from $1.477 to $1.8million, and the median price increased by over 50% from $1.2 million to $1.912 million. Current offerings by our office are a stylish house with hinterland views in Nebula St at $985,000 and a 2 storey home with appeal in Weyba St at $699,000. Generally, house listings have increased and buyers will see that there is unusually a selection throughout the lower, middle and lower top end to choose from. There have been no recorded land sales this period.

Units are a similar picture with turnover, except that the sales activity here has been concentrated in the lower priced end. The average price was $332,000 with the median at $375,000 and the highest recorded settled sale only $630,000 in Park Crescent . The offerings are a wide range from a low of $195,000 to four listed over $ million.

Overall, statistics are conflicting as a small sample over a short period can give a widely varying result. Results from different sources are also showing different stories. Without doubt the results for this quarter compared to the same time in 2004 show a massive decrease both in numbers of sales and total value, whereas the median price has increased, which is a disturbing trend.

Report updated April 1 2005

For further details contact David Garwood on 0411 862954 or davidgarwood@remaxnoosa.com.au