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Luxury waterfront properties in demand

It’s not just cashed up southerners who appreciate the value of Sunshine Coast waterfront properties – locals are quick to snap them up too.

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Luxury waterfront properties in demand

It’s not just cashed up southerners who appreciate the value of Sunshine Coast waterfront properties – locals are quick to snap them up too.

In a show of strength in the top-end of the Sunshine Coast property market, one of the true icons of the Minyama waterfront has sold.

Ahead of its time when it was built, 15 Minyama Island took out the prestigious 1997 Mater Builder Association House of the Year for both the Sunshine Coast and Queensland.

The majestic home, which is on a 1500-metres-squared north-facing block with a 32-metre water frontage, was recently sold to a Brisbane couple retiring to the Coast for an undisclosed amount. The home is on one of only 22 blocks on Minyama Island.

Platinum Properties Sunshine Coast director Steve Turner, who sold the property, says combining a marketing campaign with both advertisements and editorials in My Property Preview boosted enquiries.

“There is very good interest and a high inquiry rate and most of the top end properties that were on the market have now sold. We have a distinct lack of supply for the current demand,” he says.

“We have limited supply of deep waterfront properties and they are simply not making any more. Vacant land is almost non-existent, with the last block at 138 Mooloolah Drive selling for $3 million.”

Mr Turner says hotspots include Minyama, Buddina and Mooloolaba as well as waterfront at Parrearra and Kawana Island.

“When it comes to top-end properties, we have a cross section of potential buyers, with strong inquiries from New Zealand, Melbourne, Brisbane and local Sunshine Coast clients aiming towards a waterfront change and boating lifestyle,” he says.

“Although the southern markets have turned, the Sunshine Coast market continues to expand and develop on the back of large infrastructure projects.”

Next Property Group owner Loren Wimhurst says the top end of the property market has been strong for the past 18 months. “Most of the properties at the multimillion-dollar level are being purchased by locals who are upgrading and making the most of the values in their lower-priced properties going up.

“They have chosen to step up on the property ladder because they have such an understanding of how good those waterfront, beachfront and properties with views are.”

Ms Wimhurst says while there continues to be “a sprinkling” of buyers from Melbourne, Sydney and Brisbane, it is local buyers who are snapping up and investing in blue chip properties in order to enjoy the lifestyle on offer.

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