88 Cooloola Drive, Rainbow Beach
88 Cooloola Drive, Rainbow Beach www.realestate.com.au

Home's premier spot

IF YOU want to buy a piece of history at Rainbow Beach it's time to count your pennies.

Former Queensland premier, Mike Ahern's home is up for sale, all it will cost is cool $1.1 million.

Real estate agent Dee White, who is handling the sale with husband Andy, said the property had a bit of history behind it.

"He had the land, camped on it and figured out where the light was coming from before building. He didn't just plonk a house down," she said yesterday.

It was built in the early 1990s and was "cleverly designed to capture views and gorgeous sea breezes".

The property description on realestate.com.au says the "stunning two-storey home is perched high on prestigious Cooloola Dr overlooking beautiful Rainbow Beach and across to Fraser Island".

Mrs White agreed with the website's median house price for Rainbow Beach, $550,000, showing the price had increased $50,000 from November 2010.

She is fairly confident the market has already hit the bottom, with no recent significant drops.

"It's been quite slow in the past three years in general. But in the past four to six weeks there has been an increase in inquiry."

So far there have not been a lot of new buyers.

Mrs White said people were worried that prices would drop further and had been waiting to see what would happen.

Meanwhile, a spokeswoman from Tin Can Bay's Raine and Horne said there were still a number of properties for sale at the Bay that had been on the market for a while.

"There has been an increase in the inquiry rate in the past few weeks and we are hopeful the trend will continue," she said.

According to realestate. com.au Tin Can Bay's median price was $352,000 and Gympie's $255,000.

On the other side of the scale you could still pick up a one-bedroom unit at Rainbow Beach for about $135,000, but the most expensive property was a penthouse unit, with a view for $1.7 million.

See the listing on realestate.com.au.

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