Lots of things have changed over the last two-and-a-bit years thanks to The Spicy Cough but one thing’s remained pretty consistent: the Australian property market is on fire.
Sydney and Melbourne continue to rank in the top ten least affordable places to buy a house in the world (#3 and #6, if you’re curious), and other cities such as Hobart and Canberra have increasingly started to feel the crunch. This has been in no small part fuelled by COVID border closures and an otherwise sluggish economy making investing in property ever more alluring.
Byron Bay in particular has seen stratospheric property price increases, with already high property values seeing an over 210% increase over the last 12-18 months – a trend that shows no signs of slowing down. Kooks and locals across the country have been clutching their açaí bowls, hoping their town doesn’t become the next Byron.
But there’s already one idyllic coastal local that looks like it’s heading that way: Noosa Heads, on Queensland’s Sunshine Coast.
Noosa Heads has always been a pretty exclusive part of the world but the last 12 months have seen house prices rise dramatically. According to Heatmaps, the median house price in Noosa Heads has risen by $400,000 over the last 12 months to $1.72 million.
For perspective, that’s 1.17 million above the median house price for Queensland, which only rose by $30,000 to $550,000 in the same period. (By the way, as 7 News reports, the median house price nationally is $1.07 million, which just shows how mental Australian property prices are.)
A recent property sale has underscored just how in-demand Noosa Heads has become. 32 Noosa Parade, a rather dated waterfront property that the current owners only paid $90,000 for the land back in 1985, is tipped to sell for over $17 million.
If it achieves that, it would beat the Noosa record set in October last year when a four-bedroom home at 41 Picture Point Crescent sold under the hammer for $16.45 million, Domain relates. We might need to sit down and have a strong soy cap…