by Sue Williams, published in domain.com.au on 2 June 2023
Properties in the Queensland holiday hotspot of Noosa Heads have recorded the sharpest price jump of any suburb in the country, more than doubling over the past five years.
Apartment prices there soared 179.5 per cent in the five years to March to a record median of $1,775,000, Domain data shows, jumping 44.9 per cent over the 12 months to March......
........Demand for units also increased off the back of a 2020 decision by Noosa Council, which adopted a new shire plan that banned short-term accommodation in houses in low density residential zones, shifting a large chunk of investor funds away from houses and into units.
Many buyers who had intended to purchase a house to use as a holiday home and rent out on platforms like Airbnb and Stayz for the remainder of the time, ended up buying apartments.
Read the complete article at https://www.domain.com.au/news/the-holiday-hotspot-with-the-steepest-home-price-growth-in-the-country-2-1216432
Comments