Noosa Gold Prices
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What recent trends are impacting Noosa's real estate market?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings.
And welcome to another episode of the Real Estate Podcast, available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcasts from. Well, it's a Wednesday morning. It is back again with us, the middle of the working week, the 21st day for September for 2022. And coming up in just a moment, we're talking to Alex in Noosa. Yes, Noosa, a real hotspot on the Sunshine Coast. Luxury homes, luxury prices everywhere. And I guess the holiday ultimate getaway home that a lot of people have, but the market, it is changing. And we'll find out what the latest is in just a moment. As we know, the higher interest rates have cut the maximum amount people can borrow, but could ultimately benefit new homebuyers.
That's the news from Jonathan Kearns, the RBA's head of domestic markets. He said that the increase in mortgage interest rates have reduced borrowers' maximum loan size by about 20%. This was reported by realestate.com.au. He said that only about 10% of borrowers take out the loan close to the maximum. And the RBA modelling in April estimated a 200 basis point increase in interest rates would lower real housing prices by around 15% over a two-year period.
How has Noosa's median house price changed over the years?
And the model also suggests that if interest rates reverted to their initial level after that two-year period, then the interest rate effect on prices would be expected to eventually unwind. But I guess like anything, it's guesswork, isn't it? And time will be the true revealer of what eventually does take place.
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What factors contribute to Noosa being a desirable location for homebuyers?
First, we go to Sydney, expecting some rain developing and a high of 22 degrees. In Melbourne, good morning to you, expecting cloudy conditions. It should be mainly dry. Temperature pretty good too with 20 degrees. Brisbane expecting showers to increase on our Wednesday morning. Your high expected of 24 and in Perth expecting one or two showers and a high today of 21.
We talk with leading property commentators with analysis, predictions, forecasts and what's trending every morning from 6.30.
Well, let's go and check out what's happening in Noosa where house prices in the quiet village in the Noosa Shire increased by 195.5% over the five years to June. Now, That is the steepest growth for any suburb in the country, making it the first Queensland suburb with a median house price north of $3 million. And that is coming from a recent domain report. So joining us this morning, we have Alex Harris. She is the principal from Noosa for Sale. Good morning to you, Alex. Welcome to the Real Estate Breakfast.
How have interest rates affected borrowing and property prices in Noosa?
Good morning, Craig. Thank you. So what is going on in Noosa? Unbelievable prices. The median house price in the Sunshine Beach was just shy of $1.1 million in 2017. It now sits at $3.25 million.
Yeah, look, it's very rare for a regional centre to have a higher median price than an urban centre or a capital city. That is the case for Noosa and it has been for quite some time now. With that $3 million median, I've got to remind people that we're still very cheap compared to southern states. And there are plenty of properties under $3 million, but not a lot under the million.
Yeah. And, you know, it's not just these houses, but unit prices also more than doubled in the past five years, increasing from 127.3% to $1.5 million, the second steepest jump for a suburb.
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Chapters
8 chapters
1
What recent trends are impacting Noosa's real estate market?
0:02–1:42
2
How has Noosa's median house price changed over the years?
1:42–3:02
3
What factors contribute to Noosa being a desirable location for homebuyers?
3:02–4:18
4
How have interest rates affected borrowing and property prices in Noosa?
4:18–5:33
5
What demographic changes are influencing Noosa's housing demand?
5:33–6:50
6
How is the rental market in Noosa evolving post-COVID?
6:50–8:19
7
What predictions can be made for Noosa's real estate market by Christmas?
8:19–9:07
8
What advice does the guest have for potential homebuyers in Noosa?
9:07–12:04
Speakers
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