Year 2021 in Review.
The 2021 annual report card for the Noosa property market is an uplifting read, a truly remarkable period in real estate history to reflect on, both for Noosa and for the greater Sunshine Coast region. It’s a year that has paved the way for a very bright future for Noosa. The tension in the Noosa property marketplace in 2021 was palpable and if it wasn’t on the radar as one of the country’s hottest property markets it certainly is now.
“Price records have been re-written daily, and the sense of urgency to secure blue-chip property is at a level we have never experienced. The common misconception is that there is a limited supply; however, the statistics show that the number of sold properties is the highest we have seen in the last three years. The newfound sense of scarcity has been driven by the speed that properties are being sold. Shorter ‘days on market’ meant that stock was not lingering or accumulating on the market. In some cases, discouraging sellers from releasing homes to the market in the fear that they won’t find the right property when they had successfully sold. The reality is there were ample great buying opportunities, it’s a year where the old saying ‘fortune favours the brave’ rang true”.
Noosa’s market has matured beautifully, it’s grown from being a relatively volatile market 10 to 15 years ago, to a highly desirable lifestyle market with a strong base of permanent residents underpinning growth. There is no “one” reason for the most recent acceleration in the growth, more a combination of factors.
The existing underlying drivers that have been supporting a buoyant market over the last 5 years have been tree-changers and sea-changers, positive migration, and holiday home buyers. Since the pandemic, we now have to add in financially capable families moving away from densely populated urban areas to the mix. Couple that with prestige holiday home buyers that are facing limited international travel fuelling the super-premium market and you have the strongest market conditions in the country.
In the latest Corelogic property data, we can see that the median house price in Noosa Heads grew by 37.8%, while neighbouring Sunshine Beach, which shares the Noosa Heads postcode, increased by a massive 44.5%. Noosaville, which includes Noosa Waters, has also experienced very strong performance jumping 45.7%. The median price for a house in Noosa Heads is now $2,040,000, while Sunshine Beach is at a staggering $2,450,000, and Noosaville is close behind at $1,910,000. Low interest rates and population growth are likely to underpin the market growth for 2022, and the prospect of international borders opening is likely to drive increased demand,” Mr Reed said.
For Reed & Co. 2021 was a year of significant milestones and proud achievements, both as an organisation and as a high performing sales team. As a group we surpassed $600,000,000 in sales; a milestone that has taken many agencies over a decade to achieve, whereas we have been able to do this in just three years. The most pleasing result is that the rate of growth for our agents has been three to four times the growth rate of the market as they have built momentum in a strong market and leveraged the Reed & Co. marketing advantage.