Noosa – The Jewel of the Coast
“Location, location, location” continues to be the mantra for this market. Prime positions around Hastings Street, including Noosa Sound and the Little Cove precinct, continue to attract high-net-worth buyers. In recent months, four properties in these areas have surpassed $10 million. These spots are coveted for holiday homes, offering flat water safety and an easy walk to Hastings Street, setting them apart from the broader Noosa market.
Supply for these trophy positions is exceptionally tightly held, driving continual price growth—though not at the same levels experienced in the post-COVID market. Significant recent and ongoing construction in Noosa Sound is rejuvenating the area’s appearance and the property's appeal in this market. In contrast, the Noosa Waters canal front market has slowed, with prices holding steady but vendor pricing often remaining overly optimistic. This market is more heavily influenced by buyers moving to the area and is experiencing noticeably slower activity levels.
Sunshine Beach: A Dip in Demand
Sunshine Beach also tends to experience weaker demand, with some gloss lost from this locality due to the limited dining and entertainment options in Sunshine Beach Village. A proposed redevelopment of one of the buildings in this commercial strip is also adding to the reduction in dining options. The reduction of activity in this commercial area appears to have taken some of the momentum out of this market. In contrast, with its vibrant commercial village, Peregian Beach is buoyant overall. The area has seen premium solid sale results over the past nine months.
Mooloolaba, Minyama, and Beachside Markets from Maroochydore to Caloundra
These markets, attracting more local buyers, reflect the broader market’s lack of urgency. The Minyama waterfront market has experienced a softening in values, while essentially, the beachside residential markets are holding steady but with far less depth in the market than what was experienced a year ago. Bucking the trend is the Maroochydore unit market, drawing many downsizing buyers seeking larger units with views and high-quality beachside homes within close proximity of the Sunshine Coast Hospital. Few properties offer a premium level of finish in these markets, and when brought to market, they attract significant attention from medical professionals.