A leading local real estate agent says “people are standing up and taking notice” of a traditionally overlooked coastal strip.
Mark Lawler, the principal and director of Richardson and Wrench Coolum, said beachside suburbs Yaroomba, Mount Coolum and Marcoola were emerging from the shadows of more illustrious locations on the Sunshine Coast.
About 130 people attended an auction, with seven registered bidders, at 21 Warragah Parade in Yaroomba on Saturday.
It was passed in at $2.3m but expected to sell for $2.6m soon, given that several people expressed interest in buying it without the auction conditions.
Mr Lawler said there were several reasons the area’s dune-front properties were in-demand.
“The top two things on buyers’ wish lists are walking to the beach and/or ocean views, and we’re finding that walking to the beach is actually trumping ocean views,” he said.
“People want to take the dog to the beach or go for a surf in the morning.
“And the airport orientation has changed, so areas like Marcoola have become real property hotspots, without the flight paths,” he said.
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“Mount Coolum, Yaroomba and Marcoola have always been in the shadow of Coolum, like Sunshine Beach was in the shadow of Noosa, but now people are standing up and taking notice.
“It’s still quiet and great for families … we like the fact the local garage closes at 9pm and you have to go to Mooloolaba for nightlife.”
He said people from other beaches on the Sunshine Coast were relocating to the area.
“You’d be surprised by the number of people who sell in places like Birtinya, Bokarina, Moffat and Dicky and then come up here,” he said.
“They say ‘this is how it was 10 to 20 years ago (in their old home suburb)’.
“They come over the Maroochy bridge and go ‘I like this’.”
Mr Lawler said a survey of their past 100 sales showed that one third of buyers were from the Sunshine Coast, one third from Brisbane and one third from interstate.
“The internal migration is massive,” he said.
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“Everyone wants to come and live on the Sunshine Coast.
“And if they do their research, they discover this area to the north of Maroochy River seems to be like the jewel in the crown.”
Property values are falling around the country, but Mr Lawler said places like Mount Coolum, Yaroomba and Marcoola were bucking trends.
“They’re not building houses fast enough (on the Sunshine Coast) for the number of people who want to come here, which puts upwards pressures on prices,” he said.
“That’s why I’m not concerned in the slightest about what the interest rates are doing. It’s simply about supply and demand, and everyone wants to live here.”
Mr Lawler said 21 Warragah Parade was a prime property, encompassing 690sqm, two bedrooms, one bathroom and four car spaces with dual street frontage.
It’s just 50m from the water’s edge.
“The land itself is worth $2.5m easy … just steps from the beach,” he said.
The owner purchased the land for $120,000 in 1993 but it could sell for more than 20 times as much now.
“He felt, at the time, that he overpaid dramatically,” Mr Lawler said.
The owner had a cottage delivered on to the land in 2000.
It’s well-known among locals.
“It looks like an old beach cottage from way back but it’s actually a cottage that was delivered and then the owner put a lovely deck around it and created a lovely garden and put up a picket fence,” Mr Lawler said.
“It’s just got that quintessential beach vibe.”
He said new owners had options.
“It could go to someone from Brisbane who wants to use it as a weekender, or it could go to someone who wants to build in a great location,” he said.
The current owner is set to relocate to northern New South Wales, to be closer to family.
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Auction results
5/10 Pacific Boulevard, Buddina
- Sold prior to auction for $1.75m.
- 2 Bed, 2 Bath, 1 Car.
- Ray White, Ryan Bradeley.
2/122 Point Cartwright Drive, Buddina
- Sold under the hammer for $770,000.
- 3 Bed, 1.5 Bath, 1 Car.
- Ray White, Alex Dennien/James Goldsworthy.
14 Mallawa Street, Buddina
- Sold under the hammer for $1.65m.
- 3 Bed, 2 Bath, 2 Car.
- Ray White, Jason Mills.
Article source: Queensland Property Investor