05. Town Planning Report · MCU10/2127

Rana
Viridian Noosa Pty Lid
Research Paper

Advisory
November 2010

frequency of use and the length of each stay. Based on this, the frequency of use ranged from
fortnightly to quarterly visits — with the more frequent visits being made by those owners who
lived within close proximity to the resort; and the length of each visit ranged from 2 nights per
visit to 2-3 weeks per visit — with the longer visits being made by those owners who resided
outside of Australia. Furthermore the manager found that it was highly uncommon for owners
to continuously occupy their dwelling for periods in excess of 1-month.

Due to the overall size of The Sebel Resort Noosa, visibility surrounding the usage of its lockup
dwellings was less clear than that for Viridian Residences. However, management estimated
that owner usage ranged between numerous short-term visits (i.e. 2-4 nights) spread throughout
the year and less frequent longer-term visits (i.e. 2-3 months) throughout the year, with the latter
being more common than the former.

3.2 Non-Resort Strata-Titled Stock

In order to check that the findings of the stakeholder consultations completed as part of section
3.1 (which pointed to low permanent occupancy levels in the strata-titled resort accommodation
market) are a good indication of the Noosa market in general, consideration was also given to
the broader non-resort short-term accommodation market.

Various real estate agents that specialise in the local holiday-letting market were contacted as
part of this analysis, including Accom Noosa and Richardson & Wrench, both of which manage
large portions of Noosa’s holiday-letting properties. The outcome of this consultation process
highlighted two key trends from the last 12-18 months:

1. the general level of usage by owners of dwellings in letting pools had stayed broadly
constant.

2. there was no clear trend indicating a decline in the holiday letting stock held on the
books of property managers, rather the number of dwellings in letting pools had stayed
broadly constant.

These two trends were evident during a period of economic uncertainty, where it might be
expected that levels of usage would change substantially.

Given that the real estate agencies who were consulted as part of this research manage a wide
range of properties (i.e. apartments to stand-alone holiday houses), the above findings assist in
checking that anecdotally there does not appear to be an increasing trend in owners of holiday
real estate investments occupying them permanently.

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