| Owner News |
| Hot property
feature: Noosa |
| Much
in the news lately has been Noosa, situated in the Sunshine Coast area north
of Brisbane. The bare fact of this is that Noosa home sales in the past
year have increased by a whopping 20%. But as we will see, such statistics
only tell part of the story, leading to pitfalls for the unwary home buyer.
If your idea is to relocate to Noosa to own something that will appreciate,
choose your exact home carefully. |
|
The Sunshine
Coast as a whole is growing in population by 3.48 % each year (Bureau
of Statistics). Compared to a Queensland average of 1.9 %. The caution
with this is that Sunshine Coast's growth rate is falling relative to
the boom it experienced in the 1980s.
So given fairly average employment
opportunities in the area, continued high growth of house prices may not
be sustainable for all Sunshine Coast areas. This, however, is the averaged
out picture for the Sunshine Coast as a whole. For the careful home buyer
there are indeed hot spots of opportunity.
|
| Noosa
waterfront estates are one of the more obvious hot spots. In one example
Rafter and O'Hagon property consultants reported late last year that the
Noosa Springs development had achieved sales of 60 million. This is a planned
community estate of over 500 houses, including a large hotel and golf course.
Many of its sales were even made before plans became available. |
| In
buying homes that are not close to water, one should be cautious. Much of
suburban Noosa shows rates of sales growth as unremarkable as those elsewhere.
Indeed many southern buyers have been 'burnt' by marketing companies using
the sales growth figures of Noosa beachfront to pad out Sunshine Coast figures.
This does not mean that there are no bargains for the home buyer away from
the water front.
But you would be well advised to consider the locality
and view over the specifics of the house itself. With predicted future growth,
a better house can always be built on prime land. For instance, one area
to watch is Caloundra, with more people considering commuting to Brisbane
from it.
|
|
| A
former 20 hectare banana plantation has been proposed to be developed by
the joint venture Leighton Properties and Ariadne Australia. The application
is being assessed by Noosa council in the light of Noosa Hill Development
Control. This was set up to control development on this scenic green landmark.
As a recent example of Noosa council at least visually 'green' concerns,
it is changing of its garbage collection trucks to a less garish shade.
|
| Yet
it is the Noosa Council's 'green' framework of respecting the natural beauty
of the region that meets approval with Aridne's director Kevin Seymour:
"We appreciate Noosa's magnificent north facing beach, the national parks,
the river and the lakes." Ariadne has proposed 112 unit residential complex
at 32 Hastings St to be known as Lagoona on Hastings. Its mission statement
is 'Building on Noosa's Strengths'. |
| The
units largely sold out in a period of 6 hours, with only 65% of the applicants
successful. This was a record breaker for Queensland unit sales. Similarly,
the other near waterfront estates are strong growers. The canal estate,
Pelican Waters, Caloundra is realizing site sales in excess of 200,000
each. Twin waters residential community with its feature 30 hectare lake
is also a popular seller. This is a $ 200 million development with over
1000 allotments situated on the Maroochy River. |
| Besides
this obviously successful formula of proximity to water, the planned nature
of these communities finds great favour with buyers. Indeed this is significant
to meeting council approval. Noosa council's strategic plan for the area
concerned of developer Ariadne indicates an intention of providing for the
Shire Business Centre (SBC): "A Multifunction employment mode serving shire
wide needs and including provision for business, retail, administrative,
community and industrial functions." (Media release, Noosa Shire Council).
|
| If
considering buying your home in these themed residential developments look
closely at what lifestyle infrastructure is being offered. Don't forget
also to consider your own needs additional to the investment value. If you
don't play golf then Noosa Spring's extensive golf couse is not a significant feature for you.
|
