Noosa Sound Real Estate

ABOUT THE AREA

Noosa Sound is Noosa's most exclusive waterfront precinct located between Hastings Street and Noosaville and within easy walking distance to the main beach, the famous Noosa National Park and Noosa River Esplanade.

Development began in 1971, based upon the natural islands and creeks. The first stage was released in approximately 1975 with prices between $17,000 and $30,000 and was completed in 1984 when prices where already achieving significant growth and up to $80,000. We now see properties achieving in excess of $2 million for the land component alone.

Consisting of just 256 riverfront and waterfront blocks and 20 parks spread along some 7 kilometres of waterways, Noosa Sound is one of Australia's most attractive destinations to holiday or live in. Ideal for swimming, fishing, boating and entertaining, it also has an astonishing capital growth record. Over the past 25 years the growth rate has been between 14% and 18% per annum for residential property and between 10% and 15% per annum for unit investments.

There are approximately 400 waterfront units that offer a sedate holiday retreat with excellent tax advantages and returns.

Geographical limitations and town planning constraints have restricted any future supply, forcing prices skyward. Waterfront homes can be purchased between $1.6 million and up to $4 million and units between $350,000 and up to $3.5 million for one of just 10 waterfront penthouses.

Noosa Parade is currently the highest rated residential street in Queensland, with Mossman Court and Witta Circle also rated in this state's most exclusive and expensive destinations.

MARKET REPORT

Noosa Sound is Noosa's most exclusive waterfront precinct located between Hastings St reet and Noosaville and within easy walking distance to the main beach, the famous Noosa National Park and Noosa River Esplanade.

Development began in 1971, based upon the natural islands and creeks. The first stage was released in approximately 1975 with prices between $17,000 and $30,000 and was completed in 1984 when prices where already achieving significant growth and up to $80,000. We now see properties achieving in excess of $ 4 million for the land component alone.

Consisting of just 256 riverfront and waterfront blocks and 20 parks spread along some 7 kilometres of waterways, Noosa Sound is one of Australia 's most attractive destinations to holiday or live in. Ideal for swimming, fishing, boating and entertaining, it also has an astonishing capital growth record. Over the past 25 years the growth rate has been between 14% and 18% per annum for residential property and between 10% and 15% per annum for unit investments.

There are approximately 400 waterfront units that offer a sedate holiday retreat with excellent tax advantages and returns.

Geographical limitations and town planning constraints have restricted any future supply, forcing prices skyward. Waterfront homes can be purchased between $1. 8 million and up to $ 5 million and units between $ 40 0,000 and up to $ 4 .5 million for one of just 10 waterfront penthouses.

Noosa Parade is currently the highest rated residential street in Queensland , with Mossman Court and Witta Circle also rated in this state's most exclusive and expensive destinations.

NOOSA SOUND HOUSES

The current market continues to offer purchasers a very limited choice in houses for sale in Noosa Sound. The activity we have seen this year indicates interest in this area has mainly been for renovation or re-building. The land value content in purchases continues to rise in this very sought after area of Noosa.

A record sale was recorded on Noosa Parade for $5.6million, with landmark sales at $3m on Wyuna Drive , $4.2million in Mossman Court and $2.5million on Dolphin Crescent .. Buyers continue to have a limited selection to choose from, whether looking to renovate, rebuild or simply to move into an existing residence there is very limited stock available.

However, with the on-going shortage of stock, some buyers will remain in the queue waiting for the right opportunity to live their dream in Noosa with local agents keenly watching for property for them.

The non-waterfront precinct of Noosa Sound has seen only one sale of 11 Wesley at $1.225million. We currently have land in Park Ct. at $920,000 and another is for sale at $1.45million. There are very few dry Noosa Sound properties on the market - highlighting the demand for this product for investor's makeovers and lifestyle buyers.

Updated April 1st 2005

For more details please contact
Rod Baker 0418708545 or rodbaker@remaxnoosa.com.au

NOOSA SOUND UNITS

Open house statistics are showing a definite trend of buyers that are looking for a lock up and leave situation, downsizing from a house to a low maintenance property, allowing for easy travel pursuits whilst retaining a base in a quality area near the water in Noosa. Unit # 51 Noosa Pacific 2 has just gone under contract and at least 80% of prospective buyers for this 3 bedroom ground floor unit were in the above category. I recently handed over the keys of unit # 58, also in Noosa Pacific 2, to its new owner. The sale price was $420,000, and unit # 5 Cloud Nine resort also has a new owner and I sold this one for $520,000. Other recent sales include a two bedroom unit in Noosa Terraces which changed hands in the low $400,000 range, and in Peza Court another sale was recorded at $453,000. Unit # 8 in Noosa Shores on Noosa Parade also sold for $850,000.

On the market: In Munna Crescent at Noosa Pacific 2, we have a delightful two bedroom top floor unit with river views for $389,000 and a ground floor three bed unit (no stairs) now under contract for $440,000. At Skippers Cove resort, a water front unit is available for $1.575m. In Culgoa Point a two bedroom waterfront unit is for sale at $649,000.  Noosa Harbour resort has a 2 bed garden unit currently on offer at $395,000.  Noosa Shores  has unit #23 currently available for $950,000 plus unit 27 at $965,000 and in Las Rias, a water front unit is to be auctioned in April. Sun Lagoon resort has a two bed unit for sale at $498,000. We also have a 2 bedroom townhouse on Noosa Parade in a 3 unit block at $595,000.

A broader range of stock has definitely come to the market in this last quarter. High occupancy rates and solid capital growth seen in this great location continue to attract the astute investor and buyer demand will drive this unique market, possibly more from the retired sector in the future.

Report updated April 1 2005 For more details contact
Lance Bussell on 0403 134 420 or lancebussell@remaxnoosa.com.au