The sale of a decades-old cottage with sea views has highlighted a remarkable surge in the property market at an iconic beach town.
No. 3 Allambi Rise, originally built in the 1960s, recently went for $16.9 million at Noosa Heads.
It was one of two Tom Offermann Real Estate-listed properties sold at auctions on the same day, for a combined $30 million.
Mr Offermann, who has been involved in a litany of big money transactions during the past couple of years, said the transactions emphasised the region’s allure to big spenders.
“Noosa has become a top tier national and global destination, and its real estate market is simply unstoppable,” he said.
He expected the trend to continue and said some prospective buyers could miss the boat.
“Those that have been waiting for a correction in the market and for prices to come down in Noosa will unfortunately be left behind,” he said.
“I could have bought, I should have bought and prices are too high – these are amongst the many similar phrases we so often hear, yet the future will continue to repeat the past because there are so many wonderful things that people treasure about Noosa.”
Mr Offermann said homes in the area offered luxury, privacy, ocean views and access to beaches, cafes and restaurants.
The hammer fell for No.3 Allambi Rise, which is within an exclusive Little Cove neighbourhood, as whales breached at nearby Laguna Bay.
The old cottage, which was held by a Melbourne family for 49 years, was the subject of an intense auction involving developers, home builders and investors.
The block was last purchased for just $78,000 in 1976.
Meanwhile, No.38 Seaview Terrace at Sunshine Beach, changed hands for $13.1 million.
The five-bedroom, three-bathroom, two-car space residence on 832sqm has almost 50m of beach frontage.
It was the home of a Silicon Valley-based expat.
The block was last purchased for $1.15 million in 1997.
Median property prices in Sunshine Beach during the last year were $2.9 million for houses and $1.5 million for units
“The mood at both auctions was electric,” Mr Offermann said.
“Both had high numbers of spectators, and each had five bidders, who knew this was the time to step up and make it theirs.
“My team and I fielded around 500 enquires throughout the campaigns which underpins the staggering interest in Noosa property.”
Auction results
8 Malkana Crescent, Buddina
- Passed in, on the market for $2.075m
- 4 Bed, 3 Bath, 2 Car, Pool
- Ray White, Ryan Bradeley
803/92 Sixth Avenue, Maroochydore
- Sold under the hammer for $2.75m
- 3 Bed, 2 Bath, 3 Car, Pool
- Ray White, Reuben Park and Brent Higgins
2 Lighthouse Circuit, Birtinya
- Sold under the hammer for $2.275m
- 4 Bed, 4 Bath, 2 Car, Pool
- Ray White, Dan McNamara
3 Bandaroo Street, Warana
- Sold under the hammer for $2.025m
- 4 Bed, 2 Bath, 2 Car, Pool
- Ray White (Maroochydore), Lachie Woods
