The sale of a luxurious home for almost $7m shows there is still a strong demand for waterfront property, particularly in one area of the Sunshine Coast.

No. 29 Neerim Drive, Mooloolaba, was sold at auction for $6.75m, after more than 60 parties viewed the residence.

McGrath Sales Agent Geoff Ohmsen, who specialises in local waterfront sales, said prospective buyers were determined to score their piece of paradise by the river or canal, despite a nationwide slump in property prices.

“We’re still noticing hot demand, especially from interstate and overseas, in the deep-water market,” he said.

“I haven’t noticed prices drop off. I’ve just noticed that properties are staying on the market for a bit longer – an average of 32 days, with an increase of 11 days from last year.”

waterfront property
The property is right on the Mooloolah River.

The property at Neerim Drive, on the Mooloolah River, attracted enquiries from around the world, including expats in Hong Kong, Singapore and South Africa, before it was ultimately bought by someone from Brisbane.

“People from interstate and overseas are definitely looking to purchase (by the water) on the Sunshine Coast,” Mr Ohmsen said.

But he also said locals, who already owned water-front properties, were looking to upgrade and Mooloolaba was the place to be.

“Some locals who already live on the water see Mooloolaba’s deep water properties as being more blue chip and better for capital growth,” he said.

“One of the interested parties (for Neerim Drive) said their money was better off in deepwater Mooloolaba.

“There is a move from people from Minyama.

“We’ve noticed some people living there are making the move to Mooloolaba, where they can still be on deep water and be able to walk or ride to the beach.

“Minyama is probably a bit more disconnected and some owners don’t want to put up with the traffic from Minyama to Mooloolaba.”

The spacious home was designed by a renowned architect.
The spacious home was designed by a renowned architect.

The property at Neerim Drive featured an old 1980s brick and tile home until 2013, when it was bought for $1.2m, to make way for a new build.

The new home, designed by renowned architect Trevor Reitsma, came to life, with upgrades two years ago.

It boasts vast family zones and soaring ceilings, four bedrooms, five bathrooms, three car spaces, a rooftop terrace, a water’s edge pool, a 15m pontoon and boat ramp and 26.2m river frontage.

Auction results

3/58 River Esplanade, Mooloolaba

431 Oceanic Drive South, Wurtulla

35 Ferguson Avenue, Buderim

14 Garema Court, Mountain Creek

14 Albatross Avenue, Aroona

44 Elkhorn Street, Kuluin

22 Gannawarra Street, Currimundi

51 Village Way, Little Mountain

1105/14-20 Aerodrome Road, Maroochydore

31 Investigator Place, Pelican Waters

7 Coorong Street, Wurtulla

13 Athenree Place, Little Mountain

18 Petrie Creek Road, Nambour

8 Claremont Street, Buderim

8 Lindeman Avenue, Buderim

36 Balmoral Road, Montville

6 Birdwing Avenue, Bli Bli

1 Grenfell Court, Kuluin

30/59 Buderim Pines Drive, Buderim

Article source: Queensland Property Investor