Cashed-up property buyers continue to splash out for elite homes in prime locations

The ultra-prestige property sector at an iconic Queensland beach town continues to surge ahead, seemingly immune to broader market sentiment.

Multiple homes at Noosa Heads have sold for double-digit millions in recent months, as cashed-up buyers jostle for stylish homes in a scenic and renowned location.

Among them was No.14 Mossman Court at Noosa Sound, listed by Reed & Co, which sold as a family holiday home for $14.445 million on June 30.

The agency’s director, Adrian Reed, said high-end real estate was in a league of its own – largely untouched by general economic conditions.

“The top end of the market seems to demonstrate resilience and growth,” he said.

“It’s not really linked to consumer confidence. If there’s uncertainty in the world or uncertainty in the economic environment, that asset class still just surges forward.”

“They’re not really dependent on economic conditions.”

No.78 Noosa Parade sold for $16.95 million during the weekend, while No.45 Witta Circle went for $18 million in April.

He said lower range markets were more driven by economic fluctuations.

“I think that tier down – $4 million to $8 million – there’s definitely some sensitivity to market sentiment, with debt levels and confidence in commerce playing a role,” he said.

“I think there’s a slightly different band of buyer at that price range, and I think that $2 million to $4 million range probably picks up a bit more of the debt burden.

“Below that is the hot market because there’s no supply. Anything around $1 million to $2 million seems to perform really well.”

Noosa Sound is widely regarded as one of the most exclusive areas – if not the most exclusive – in the Sunshine Coast-Noosa region.