New data has revealed the top 10 most expensive streets on the Sunshine Coast, with the Noosa shire dominating the rankings.
The data, compiled by Ray White using information from all agencies, shows the streets with the highest median sales during the three years starting from January 2020.
The most expensive street on the Sunshine Coast over that time was Arakoon Crescent in Sunshine Beach, with a median sale price of $13.625m.
A home on the street sold for $28.5m last year in a deal believed to be a record for the street to date.
Two Noosa Heads addresses came in next on the list: Witta Circle, with a median of $9m, and Kareela Avenue, with a media of $7.95m.
Ray White data analyst William Clark said the most expensive streets had some common features.
“Typically, these streets have houses with large lot sizes and fewer properties, are close to a city with good employment and other commercial opportunities, and enjoy privileged access in the form of physical access to, or views of, beach or riverfront, national parkland or other environmental assets,” he said.
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“In the case of Sunshine Beach and Noosa, they have feasible weekend access to Brisbane and so can serve as a great holiday, weekend or retirement home to the wealthy.
“They enjoy immediate access to some of the best water frontage in the country, and have large lot sizes on average.”
Arakoon Crescent’s median prices places it as the sixth most expensive in Australia, the only Queensland street to make the top 10.
The Australia-wide list is topped by Wolseley Road in Sydney’s Point Piper, with a median sale price of a cool $33m.
Mooloolaba’s Carwoola Crescent, with a median of $3.9m, was the only street outside of the Noosa shire to make the top 10.
Mr Clark said the type of housing stock around the southern parts of the Coast affected the median price of its streets.
“The southern end of the Sunshine Coast, while by no means on the lower end, does not see the leaderboard due to a less-controlled supply; there is a greater supply of houses and units per suburb, and land has been subdivided to accommodate accessibility and affordability,” he said.
He said he expected prices on the Sunshine Coast to continue to grow in coming years.
“Since lockdowns and digitalisation of the workforce, people can feasibly live and work further away from the CBD, and this has benefitted coastal property further out such as on the Sunshine Coast,” he said.
“Couple this with strong migration to the sunny state and we can expect growth in the Sunshine Coast to continue, hopefully not just concentrated to the upper end.”
Median property prices across the Sunshine Coast have declined in recent months but are still above pre-COVID levels.
Latest CoreLogic data showed a local house price median of $972,891, down from a peak of about $1.104m in April.
But house prices are still an impressive 35.5 per cent higher in value than they were at the onset of the pandemic in March, 2020.
The top 10 most expensive streets for median sales on the Sunshine Coast were:
- Arakoon Crescent, Sunshine Beach – $13.625m
- Witta Circle, Noosa Heads – $9m
- Kareela Avenue, Noosa Heads – $7.95m
- Mossman Court, Noosa Heads – $7.21m
- McAnally Drive, Sunshine Beach – $6.1m
- Stevens Street, Sunshine Beach – $5.7m
- Wyuna Drive, Noosa Heads – $5.625m
- Cooran Court, Noosa Heads – $5.35m
- Seaview Terrace, Sunshine Beach – $4.8375m
- Carwoola Crescent, Mooloolaba – $3.9m
Semi-detached house and duplex sales were considered house sales, while commercial sales were excluded from all calculations. Streets were excluded if they failed to accrue three sales or more since January, 2020.
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