Brisbanites behind surge in Queensland property hotspot

first_imgMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoHOTSPOT: Noosa is popular with tourists too including Maud Saillard, 23, of France and friend Jolene Kieffer. Picture: Lachie Millard“It was around July last year that it really became noticeable with two distinct Brisbane buyer profiles developing,” she said.“Young families in their 30s and 40s started buying holiday units,” she said, with the second buyer group in their 50s and 60s thinking about retirement.The rise was driven by the dollar dropping to 74 cents, nostalgia over childhood holidays in the area and low interest rates.“As a Brisbane girl myself, I have great memories of holidaying in Noosa with friends from when I was a teenager and into my early 20s, and I get a real sense of people trying to recreate their own childhood memories for their children today.” Nostalgia was seeing a rise in young families in the area as parents try to recreate childhood experiences with their children. Picture: Lachie MillardShe said low interest rates made buying a holiday home financially viable for more people.“I feel there was an awakening last year as to what great value Noosa property remains for out of town buyers.”Ms Harris said the rental market was tight with yields averaging 4.7 to 5 per cent.“So we have middle-aged buyers snapping up houses to rent out for three to five years ahead of selling up in Brisbane to permanently relocate. It is driving a resurgence in our housing market with a change in median price in Noosa Heads over five years of 19.3 per cent and in Noosaville (29.5 per cent), but still our mid-market houses around Noosa Heads and Noosaville represent enormous value.” Noosa Main Beach is a major drawcard for not just young families but also retirees. Picture: Lachie MillardBRISBANE residents are behind the rise of one of the state’s biggest hot spots, with every second sale now going to someone from the Queensland capital.Noosa Shire at the top end of the Sunshine Coast has seen a surge in buyers out of Brisbane, according to Alex Harris, principal of Noosa4Sale – led by young families and retirees in their 50s and 60s.“Long ignored by Brisbane (residents), Noosa is now the destination of choice for Brisbane holiday makers, investors and more recently, homeowners,” she said.“Of the 12 units I have sold in the Sun Lagoon Resort alone in the past two or so years, seven have gone to Brisbane buyers, three to Sydney buyers, and one each to New Zealand and UK buyers. This is representative of what is happening across Noosa’s property market right now.”Ms Harris said the “generational and geographic shift in holiday home buyers” began in late 2015 but firmed up mid last year.last_img read more