Once a humble home for barefoot surfers and retirees seeking sand in their golden years, the Sunshine Coast is now one of Australia’s most prized playgrounds for prestige buyers, with property prices swelling by up to 46 per cent in 12 months across its most sought-after postcodes.
Fuelled by exclusivity, driven by development restrictions along the coastline and augmented by the remote working wave – the relaxed region just a couple of hours north of Brisbane is also becoming a mecca for cashed-up tech wizards with nine key suburbs now members of the million-dollar-plus club for median house prices
It’s a region that also obliterated the Queensland house price record with the $34 million sale of a Sunshine Beach trophy home at 17 Webb Road in June this year – a sale that came hot on the heels of the $14 million transaction of 8 Noosa Court, Noosa Heads, a three-bedroom penthouse that eclipsed the previous Sunshine Coast apartment record by $5 million.
The pandemic-era lifestyle changes have created a perfect storm for the Sunshine Coast’s prestige market. Photo: Supplied
Both sales were handled by Tom Offermann, of the eponymous real estate firm.
While the quiet beachside strip still lacks the grandeur of Sydney’s Darling Point or the overwhelming wealth of Melbourne’s Toorak, property experts say the unstoppable wave of buyer demand is paving the way for an unprecedented growth cycle.
“Our buyer base was traditionally wealthy, self-funded retirees, but now we’re seeing this massive influx of young, financially capable families who are picking up properties in A-grade positions, and we’re seeing a lot of younger wealth that’s coming out of IT, finance and tech that’s tapping into new lifestyle opportunities [off the back of COVID-19]. So, we’re right at the beginning,” Adrian Reed of Noosa’s Reed and Co Estate Agents said.
“The abundance of nature, shopping, the beaches and the prestige amenity that is afforded to us is pretty desirable … and it’s all limited stock, so there’s going to be [further] price increases. In fact, we’re probably in what appears to be the early stages of a fairly significant growth cycle.
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