Interview: Tom Offermann, Tom Offermann Real Estate

Tom Offermann has spent the past 35 years developing peerless market knowledge of Noosa and Sunshine Coast environs.

He’s also a man who lives and breathes the lifestyle he proudly sells – often found in his kayak on the Noosa River.

We caught up to discuss the future in light of COVID, ‘southern’ sea-changers and a market that’s ultimately surging.

Kanebridge News: Noosa was recently marked as Queensland’s most expensive property market, thoughts on securing such a title?

Tom Offermann: It’s been named the most expensive shire in the state, but I think it’s more accurately described as the most valuable in the state.

KN: What makes it the most valuable?

TO: Noosa shire has an annual return on investment over 15% — which is incredible. However, some of the shire’s most sought-after locations, such as Noosa Sound, have been averaging capital growth of more than 15% per annum for the past 46 years.

KN: How did Noosa fare coming out of the pandemic?

TO: [In 2021] we were wondering if it might slow down a bit after the summer holidays, but the market for the first quarter has outperformed every quarter of 2020. Auctions are achieving approximately 90% clearance rates, property listings remain tight and an abundance of buyers are waiting for the right property.

KN: Is this driven by those ‘southerners’ looking for a sea / tree-change?

TO: The sea and tree-change effect was the strongest ever and Noosa was one of the greatest beneficiaries, recording high sales volumes plus the highest price gains in Queensland, with houses recording 15.4% annual growth and a median price surpassing $900,000.

KN: So is it now too late for those wanting to get into the market?

TO: No, it’s never too late. My advice is to buy in the best location your budget allows. In the current market it’s important to be ready to act fast and have pre-approval if you require finance, because a property can sell very quickly, sometimes never hitting the market at all.

KN: How does Noosa compete against other coastal ‘lifestyle’ regions?

TO: Noosa has long been known as the jewel in Queensland’s crown, which is a result of superior local governance, the shire’s natural resources and climate — which combine to underpin a property market that has more potential than any others in the country. It’s highly desirable and very tightly held.

KN: What do you say to the naysayer’s who claim the Sunshine Coast’s growth isn’t sustainable – will the market continue to ascend?

TO: Of course it will. Property value is never a straight line graph, however, you can always count on it pointing upwards long-term. At this rate, investors will double their money every five years, something I have experienced throughout my career.

offermann.com.au

Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.

The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.

With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.

Interview: Tom Offermann, Tom Offermann Real Estate

“At this rate, investors will double their money every five years.”

Scheduled auctions fall to winter levels as vendors hold back on going to market