Record $5.6m sale proves 'solid' Noosa market
A NOOSA Sound house that sold at auction for $5.67 million shows the prestige market is rock solid, according to a leading real estate agent.
Tom Offerman Real Estate agency principal Tom Offerman said he believed it was the highest Queensland house sale under the hammer so far this year.
"Witta Circle is one of those 'can't go wrong locations',” Mr Offerman said.
"It's on the water, picturesque and an easy walk from Hastings St and the beach.
"The capital growth has been over 15 per cent on average for 40 years, hard to beat.”
Mr Offerman said he was still finding strong demand, especially at the luxury end, but was "critically short” on properties at all levels.
"Our agent Nic Hunter listed a house in nearby Little Cove for auction and it was snapped up for $4.75 million on day two before our in-house media team even had time to finish the photos,” he said.
"A few days earlier we sold a house in the same street in the $5 million range.”
Marketing agent Eric Seetoo said while the four-bedroom property was an "oldie”, it occupied one of the most desirable locations on the waterfront near Hastings St.
"We found four bidders, three of whom were present and another was on the phone from overseas, each with well over $5 million to spend,” Mr Seetoo said.
"As you can imagine, I am busy finding properties for the under-bidders.”
Mr Offerman said property markets usually slowed down during an election, "but not this time in Noosa”.
"The traditional slowdown isn't apparent this time, with most clients adopting a wait-and-see attitude,” he said.
"Some are even predicting a post election rush into investment property before any negative gearing or CGT changes are introduced.”
For more information on the Witta Circle sale, visit offermann.com.au/49-witta-circle-noosa-heads-qld-4619865.