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Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

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Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Kelly Landry and Anthony Bell recently bought a house in Noosa. Photo: Belinda Rolland.Source:Supplied

WHAT do a sports star, a burger-flipping entrepreneur and a celebrity power couple have in common? A penchant for property in this idyllic, seaside town.

A CASHED-UP sports star splurged $8.4 million on an oceanfront mansion there.

A burger-flipping entrepreneur just paid a record $18 million for a piece of its real estate.

And a power couple at the centre of a high profile marriage split have spent more than $10 million on a waterfront hideaway in the town.

The exclusive seaside village of Noosa, on the Sunshine Coast, has long been a favourite holiday spot for the world’s rich and famous.

But these days, they don’t just go there to relax — they go there to live.

Just ask the likes of ex-Formula One driver Mark Webber, retail billionaire John Van Lieshout, musician Jon Coghill and former car rental boss Bob Ansett, who all call Noosa home.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Former Formula One driver Mark Webber owns a home in Noosa.Source:Supplied

Former professional tennis star Joshua Eagle also owns property in the area, while Greg ‘The Shark’ Norman is reportedly hunting for a home there.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Greg Norman is reportedly looking for property in Noosa. Picture: David Crosling.Source:News Corp Australia

And don’t forget Suits star Gabriel Macht, whose wife is Australian actor Jacinda Barrett, has invited the royal newlyweds Prince Harry and Meghan Markle to honeymoon at their Noosa beach house, which was bought more than a decade ago for just over $750,000.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

The Noosa home Gabriel Macht has invited Meghan Markle and Prince Harry to stay in. Picture: Realestate.com.au.Source:News Corp Australia

The town’s strict population cap and laid-back lifestyle, combined with its beautiful beaches, rainforest and ecological areas, have made it highly sought-after real estate.

Local agents are reporting a resurgence in Noosa’s prestige property market, which is forecast to further gather speed as a result of strong interstate migration and infrastructure investment.

A decade on from the damage caused by the global financial crisis, the super wealthy are returning to the town in droves — and they’re happy to pay top dollar for whatever they can get their hands on.

Just last month, a Little Cove beach house owned by high profile stockbroker David Evans changed hands for $11.2 million to a Melbourne-based buyer linked to the Roger David menswear chain, after selling for only half that just three years ago.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

This house at 5 Allambi Rise, Noosa Heads, has sold for $11.2m.Source:Supplied

In March this year, Noosa’s median house price reached $665,000, compared to the Sunshine Coast median house price of $563,000, according to the latest Real Estate Institute of Queensland figures.

The Noosa unit market also blossomed over the past 12 months, growing a stunning 7.1 per cent to reach an annual median price of $525,000 — the most expensive unit market in Queensland.

In fact, Noosa house prices have grown 38.5 per cent since 2013 — the strongest medium-term growth anywhere in Queensland.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Noosa real estate is in demand from high profile business people, sports stars and celebrities.Source:News Corp Australia

Tom Offermann of Tom Offermann Real Estate, who has had a long career selling beach and riverfront mansions in the Noosa region, said he had noticed a growing trend among high profile buyers looking for holiday homes not to rent out, but to use for bringing family together.

“We’ve had a large number of people in recent months come to us citing that their intention is to purchase a holiday home so they have a place to bring the family together,” he said.

Mr Offermann said it was a “pleasure” dealing with clients at the top end of the market, who were particular about what they liked, time poor and appreciated confidentiality.

“There’s a lot of people under the radar here with hundreds of millions, or even billions, that you don’t even know of,” he said.

Adrian Reed, an agent with Dowling & Neylan Real Estate Noosaville said the Noosa region’s appeal had broadened from “its traditional base of Melbourne elite”.

“There’s significant interest now coming out of Sydney and internationally and that’s changed the profile of not only the popularity of Noosa, but who’s living and working here,” Mr Reed said.

“The ability for people to work remotely now is completely changing the paradigm and allowing people to be remote CEOs.

“The convenience of the commute or a private jet to the Sunshine Coast airport means they can operate at the highest level and live in paradise.”

Mr Reed said he expected the new-found interest in the Noosa region to increase.

“When you look at what you can get for $10 million in comparison to Sydney, Noosa is exceptional value,” he said.

THE RICH AND FAMOUS WHO CALL NOOSA HOME

Adam Scott, champion golfer

Bought an oceanfront house in Sunshine Beach for $8.4 million in April 2017.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Professional golfer Adam Scott recently bought a home in Noosa. Photo: Sam Greenwood/Getty Images.Source:Getty Images

Anthony Bell and Kelly Landry, celebrity accountant and television identity

Paid $10.3 million for a six-bedroom, waterfront home on Noosa Sound in October 2017, which was rated HIA Queensland home of the year.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

This house in Noosaville sold for $10.3 million.Source:Supplied

Richard Branson, Virgin Group founder

Bought Makepeace Island in the Noosa river in the early 2000s for $2.86 million.

The property features a main long house with a giant bar, a four-bedroom guesthouse, several two-bedroom villas, a boat house and a lagoon pool with a lap lane, dive spots and a 15-person spa. It can accommodate up to 22 guests.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Makepeace Island, Queensland. Picture: Supplied.Source:Supplied

Sir Richard Branson at his private resort, Makepeace Island, on the Noosa River.Source:News Limited

Jon Coghill, former drummer of Powderfinger

Bought a house in Marcus Beach for $1.37 million in 2014.

David Hales, Betty’s Burgers founder

Bought Pat Rafter’s property in Sunshine Beach for $15.2 million in January 2018.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

The former house of tennis star Pat Rafter sold for $15.2m.Source:Supplied

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

David Hales, founder of the Betty’s Burgers chain, has bought a house in Noosa. Picture: Eric Blaich.Source:Supplied

David Russell, co-founder of private equity group Equis Energy

Paid $18 million for a house in Sunshine Beach in February 2018 — the highest price ever paid for a home in the entire Sunshine Coast region.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

This Sunshine Beach house sold for a record $18m.Source:Supplied

Mark Webber, former professional racing driver

Owns a house on 1362 sqm of land in Noosa Heads, which he bought for $4.9 million in 2011 from former tennis star Thomas Muster.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

The house owned by Mark Webber in Noosa Heads.Source:Supplied

John van Lieshout, billionaire founder of Super A-Mart furniture store chain

Owns two houses next to each other on the canal in Noosa Heads. He bought one for $3.68 million in 2011 and the other for $430,000 in 1989.

He also owns The Seahaven Resort overlooking Laguna Bay, which he paid just over $40 million for in 2012.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Billionaire John Van Lieshout owns two houses and a resort in Noosa. Picture: Mark Calleja.Source:News Corp Australia

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Noosa’s Seahaven Resort is owned by billionaire John Van Lieshout.Source:Supplied

Jacinda Barrett, Australian actress

Owns a beach house in Sunrise Beach, which was bought for $762,000 in 2006.

The Sunrise Beach home offered by Jacinda Barrett to Prince Harry and Meghan Markle.Source:News Corp Australia

Dawn Fraser, former Olympic swimmer

Lives in a house in Noosaville. It was bought for $1.398 million in 2004.

Bob Ansett, Budget Rent A Car founder

Lives in a house in Sunshine Beach, which he bought for just $260,000 in 1987.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Budget Rent A Car founder Bob Ansett lives in Noosa.Source:News Corp Australia

Carl Hartmann, entrepreneur

Owns a house in Noosaville, which he paid $3.8 million for in November 2017.

Brian White, Ray White Group chairman

Owns a unit at Little Cove, Noosa Heads, which he bought for $4.25 million in 2001.

Graham (Skroo) Turner, Flight Centre CEO

Owns a unit in the same building as Brian White.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Flight Centre chief executive Graham Turner and his wife Jude own a unit in Noosa. Picture: AAP/David Clark.Source:News Corp Australia

Euan Murdoch, Herron Pharmaceuticals founder

Owns a unit in the same building as Brian White and Graham Turner.

Joshua Eagle, former professional tennis player

Owns a three-bedroom house in Sunshine Beach, which he paid $870,000 for in 2006.

Noosa boom: Why the once sleepy holiday town has become home to the rich and famous

Lisa Curry and Dawn Fraser both own homes on the Sunshine Coast. Picture: Nigel Hallett.Source:News Corp Australia

Lisa Curry, former Olympic swimmer

Bought a house in Crohamhurst with her Elvis impersonator husband, Mark Tabone, in July 2017 for $1.125 million.

She also owns a unit in Alexandra Headland and a house in Minyama, which she bought with her former husband Grant Kenny.

source: www.news.com.au

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Market Place

Top 68 suburbs for growth in Queensland revealed

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Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

RankSuburbMedian priceCapital growth over 12 months (as a percentage)
1Blackwater$94,250151.3%
2Spring Mountain$450,000103.6%
3Collinsville$95,00046.2%
4Minyama$1,310,00045.8%
5Hamilton$1,442,00032.9%
6Hollywell$810,00030.5%
7Miles$148,25023.5%
8Mount Coolum$670,00021.9%
9Dundowran Beach$607,00021.5%
10Boonah$324,50021.3%
11Idalia$485,00021.3%
12Rasmussen$347,50019.9%
13Yaroomba$749,00019.7%
14Biloela$272,75018.6%
15Burnett Heads$317,00018.1%
16Tivoli$295,00018.0%
17Cashmere$690,00018.0%
18Walloon$370,00016.7%
19Sunshine Beach$1,400,00016.7%
20Noosa Heads$1,070,00016.0%
21Hope Island$739,75015.7%
22Ripley$374,00015.4%
23Sandgate$705,00015.2%
24North Ward$575,00015.0%
25Paddington$1,150,00014.7%
26Palm Cove$606,00014.3%
27Charters Towers City$142,50014.0%
28Pelican Waters$761,00013.9%
29Cooee Bay$313,00013.8%
30Mount Ommaney$944,00013.7%
31Fernvale$357,50013.5%
32The Range$380,00013.4%
33Landsborough$432,50013.4%
34Sunnybank$832,50013.3%
35North Mackay$270,00013.2%
36Whitfield$540,00013.1%
37Graceville$932,50013.0%
38Hendra$1,100,00012.7%
39Shorncliffe$840,00012.4%
40Moranbah$185,00012.1%
41Coes Creek$442,50012.0%
42Cooloola Cove$317,50012.0%
43Battery Hill$578,00012.0%
44Seven Hills$940,00011.9%
45Nundah$755,00011.9%
46Monkland$240,00011.6%
47Bongaree$470,00011.6%
48Clifton Beach$557,50011.5%
49Maroochydore$639,00011.2%
50Twin Waters$823,00011.2%
51Cambooya$322,50011.2%
52Tewantin$572,50011.2%
53Coolum Beach$675,25011.2%
54Kedron$744,50011.1%
55Sunrise Beach$820,00011.0%
56Oakey$241,50011.0%
57D’aguilar$416,00010.9%
58Mountain Creek$610,00010.9%
59Flinders View$371,50010.9%
60Highland Park$570,00010.7%
61Rosewood$291,00010.7%
62Bulimba$1,300,00010.6%
63Kirkwood$353,50010.5%
64Woodgate$402,50010.3%
65Railway Estate$309,50010.1%
66Auchenflower$1,070,00010.0%
67Rainbow Beach$489,50010.0%
68Ormeau Hills$530,00010.0%

Source: brisbaneinvestor.com.au

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Qld home values rise in 12 months

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Queensland

HOME values rose in seven of Queensland’s nine subregions in the past year, despite widespread fears of a cooling housing market.

It comes as Brisbane is ranked 20th on a global list of cities measuring residential property price growth over the past year, with the city recording above average 3.5 per cent growth.

Research from property data supplier CoreLogic reveals the Sunshine Coast recorded the biggest rise in home values over the past 12 months – increasing 6 per cent.

Queensland
Homes on the Sunshine Coast recorded a 6 per cent rise in value over the past year. Photo: Lachie Millard.

Homes in Brisbane’s western suburbs increased in value by 4.4 per cent in the same period, followed by Moreton Bay South, with a gain of 2.5 per cent and inner Brisbane with a rise of 2.1 per cent.

Home values in Logan, Brisbane’s eastern suburbs, Gold Coast, Wide Bay, Brisbane’s north and Moreton Bay North also rose marginally.

At the same time, only one of Sydney’s 15 subregions recorded an annual rise in home values.

Queensland
Seven out of Queensland’s nine subregions recorded growth in home values in the past 12 months, according to CoreLogic. Photo: Glenn Hunt/Getty Images.

CoreLogic head of research Tim Lawless said that with property values falling across four of the eight capital cities over the past twelve months, it was easy to forget some housing markets around the country were actually seeing relatively healthy and sustainable growth.

Almost half of Australia’s 88 SA4 subregions recorded a rise in dwelling values over the past twelve months.

Regional areas of the country are more likely to be showing positive growth conditions, with 57 per cent of all regional areas recording a rise in dwelling values over the year, compared to only 39 per cent of the capital city subregions.

Mr Lawless said the ‘healthier’ conditions across the regional markets could probably be attributed to more sustainable growth conditions during the growth phase, compared to the likes of Sydney and Melbourne.

Related article: Mortgage holders rejoice most Qld homes rose in value over the past year

Queensland
CoreLogic head of research Tim Lawless, pictured in Sydney.

“The more sustainable history of price growth has kept a lid on housing affordability and made these markets attractive to migrants, particularly those areas where economic conditions are buoyant,” Mr Lawless said.

“A ripple of demand has been emanating from the largest capitals towards the satellite cities where housing is generally more affordable and lifestyle factors can be appealing.

“Many coastal and lifestyle markets have benefited from a rise in buyer demand, either from those looking for a new residence, second home or investment option.”

Mr Lawless also said many of the hard hit mining regions had now levelled out and were starting to show growth.

He said the data highlighted the diversity across Australia’s housing markets.

“While conditions are broadly slowing, especially around Sydney and Melbourne, many areas of the country are benefiting from a history of more sustainable growth rates, improving demand and reasonably strong economic conditions,” Mr Lawless said.

It comes as Knight Frank ranked Brisbane 20th on its Prime Global Cities Index.

Sydney came in 17th place, Melbourne sits in 21st place and Perth sits in 24th place.

“Despite a cooling mainstream market off the back of tighter lending practices, Australian prime markets continue to experience growth with buyers less impacted by these measures,” Knight Frank’s head of residential research Australia Michelle Ciesielski said.

Source: www.sunshinecoastdaily.com.au

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Maroochydore: ‘Connected yet quiet’ suburb growing fast

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sunshine coast
Experts are hailing the Sunshine Coast as Australia’s next property market hotspot, with the beachside suburb of Maroochydore set to reap the benefits.

According to Hotspotting.com.au, the Sunshine Coast is currently at the start of a long-term growth cycle.

“Momentum started building two years ago and has really been increasing over the past 12 months, and we’re now seeing that translate into solid growth,” founder Terry Ryder says.

In the housing market, many suburbs have had double-digit growth over the past year, with many others close to 10 per cent, he adds.

The growth is all due to the fundamental change that has taken place on the Sunshine Coast, with strong infrastructure spending and a broadening economy moving away from its reliance on tourism.

“It’s really all about infrastructure spending,” Ryder says. “The total list of projects recently completed or under construction is over $20 billion, which is huge for a city of this size.”

The $2 billion Sunshine Coast University Hospital, which opened in April 2017, was a significant project for the region, along with the $150 million private hospital built in association with it.

Current major projects include a $1 billion upgrade to the Bruce Highway, a $347 million expansion of the Sunshine Coast Airport and the creation of a new $430 million Maroochydore City Centre, which will include commercial, retail, entertainment and residential components.

“All of this brings new businesses into the Sunshine Coast, diversifies the economy and creates a lot of jobs,” Ryder says.

He says Maroochydore was the logical choice for a new CBD in the region, being not only at its geographical centre, but also its “nerve” or commercial centre.

The Milk Bar Coffee Co owner and chef Alex Cossell decided to open his business on Maroochydore’s Sixth Avenue, just one block from the beach, more than two years ago, identifying an opportunity in what he describes as a “central hub” filled with plenty of locals and tourists.

sunshine coast
Rise apartments will have unspoiled views of the ocean. Image: Supplied

“The cafe culture is epic,” Cossell says. “There are plenty of amenities within the area too, with great parks and playground areas for the young families.”

Cossell believes Maroochydore will be completely different in five years’ time.

“It is definitely growing at the moment, with so much more expansion in the works with the new CBD development just around the corner.”

Plenty of buyers, particularly locals, are also excited by what’s taking place in and around Maroochydore. They’re being drawn to the thriving area, taking advantage of the chance to buy before is it completely revitalised.

Rise Maroochydore Beach, a new luxury ocean-view development offering 48 apartments, is proving to be one popular opportunity.

The 12-storey building, situated on Sixth Avenue in the Cotton Tree neighbourhood of Maroochydore, received more than 700 expressions of interest prior to its launch, according to Colliers International.

Related article: What we need to future proof south east Queensland

sunshine coast
The development includes four-bedroom apartments. Image: Supplied

It appeals to owner-occupiers as it has generously sized two- and three-bedroom configurations, as well as two-level, four-bedroom penthouses, with prices ranging from $500,000 to $3 million.

“The Sunshine Coast used to be known for Mooloolaba and Noosa, but it’s becoming a lot more known for Maroochydore,” says Daniel Hirst of Colliers International, who is marketing Rise.

“Mooloolaba and Noosa are more holiday accommodation areas, while the Maroochydore and Cotton Tree areas are becoming a preferred residential choice for people who want to live in high-quality luxury apartments and have restaurants close to hand.

“They are professional couples in their mid-40s, people upgrading with young families, downsizers, retirees and semi-retirees.”

Rise offers a point of difference to other apartment developments, Hirst says, in that it benefits from Maroochydore’s growth but it’s not right in the hub of all the activity. Rather, it’s within easy walking distance.

“It’s connected to everything but it still has a quiet lifestyle,” he says. “You can walk a couple of hundred metres to the beach, restaurants and cafes, but you don’t have all the foot and vehicle traffic at your front door.”

Rise is also unique in that it offers the closest new apartments to the ocean in Maroochydore, with development of this scale currently not allowed any closer – which also means the views can’t be built out.

Source: www.domain.com.au

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