Prestige Property: 2 Frying Pan Track, Noosa North Shore, QLD
A stunning, sprawling manse where the river meets the sea.
A stunning, sprawling manse where the river meets the sea.
Set in the idylls of Noosa North Shore comes this heavenly designer residence known as Eden.
It wears the name well with the 1049sqm, 4-bedroom, 3-bedroom, 7-car garaging home set on 1.61 hectares amongst the trees and botanical-like native gardens on one of the largest waterfront reserve parcels on the Noosa North Shore.
The façade boasts modernist, geometric lines, combined with a palette of strategically placed hanging gardens, natural stone, timber, glass – with the water’s edge merely an extension of the front garden.
From the portico and atrium entrance, generosity is the word that comes to mind. Inside, elevated finishes of marble flooring decorate while light pours through the home via walls of glass offering panoramic water and garden views.
Inside, the major living spaces seamlessly open out on three sides to terraces, sun decks, a gazebo and a pool with Balinese volcanic rock tiles.
The ideal entertainer, the kitchen sees an oversized butler’s pantry with a marble-topped island breakfast bar and Miele dishwasher and ovens, a double-height wine fridge, and banks of storage.
The home is split into what can be best described as suites. The ground floor sees a guest suite with sitting room, ensuite and walk-in-robe. Elsewhere, upstairs has a 2-bedroom, 2-bathroom master retreat complete with its own living area – again, complete with water views.
Separate is the north wing. Here one finds the king master suite with wide views of the Noosa River mouth and Noosa Heads. The suite is complete with its own private balcony, freestanding bathtub (part of the open bathroom) walk-in robe, dressing room and dedicated office area.
Only 5-minutes by boat across the river to Noosaville’s Gympie Terrace, and a little further on is vibrant Noosa Heads and its restaurants and shopping.
The listing is with Tom Offermann Real Estate’s Nic Hunter (+61 421 785 512). Price guide: $7 million; offermann.com.au
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The US housing market remains under pressure as high mortgage rates continue to weigh on affordability and demand. Industry leaders say 2026 has been one of the toughest years for home sales, with slower price growth, weaker mortgage activity, and fewer buyers entering the market. However, experts say reduced competition and more price cuts could create opportunities for well-prepared buyers.
The typically busy spring season for the housing market was a dud, and the summer isn’t looking much brighter.
Housing services companies like Zillow Group and Rocket RKT +3.78% were loud and clear last week on earnings calls: Rocket CEO Varun Krishna called the quarter through June “one of the toughest spring housing markets in years.”
Jeremy Hofmann, Zillow’s chief financial officer, said on a conference call that the company predicted earlier this year that the market for mortgages would be flat. “We actually now think it’s going to be down low-to-mid-single digits,” he said.
The rest of 2026 will remain challenging for mortgage origination volume, says KBW analyst Bose George. The question now is what happens in 2027. “If mortgage rates remain [around] 6.75%, I think that’s going to be challenging even for next year,” he says.
But what’s bad news for mortgage companies could be a positive for bargain hunters. Buyers can expect prices to grow more slowly—or mildly decline—with less competition as long as mortgage rates remain unpredictable.
Mortgage rates at the beginning of the year were solidly below year-ago levels, notes Zillow senior economist Kara Ng. But they surpassed last year’s levels recently, she adds, referencing Freddie Mac’s weekly survey of 30-year fixed mortgage rates. Last week’s reading, at 6.69%, was higher than year-ago levels for the first time in 2026.
“From the affordability point of view, it’s going to get more challenging in the second half of the year,” she says. “And when affordability gets more challenging, that impacts sales and home price appreciation.”
Mortgage application data tracked by the Mortgage Bankers Association has cooled since the beginning of the year. The trade group expects that the number of mortgage originations in the remaining two quarters will lag behind last year’s levels, after exceeding 2025 levels in the first half.
Rocket’s early-stage data—which the company told Barron’s it derives from its brokerage Redfin, demand for its mortgage products, and signs in its servicing portfolio that a homeowner is preparing to refinance or move—“leads us to expect the third quarter mortgage market to be smaller than the second,” Chief Financial Officer Brian Brown, said on the company’s call. He added that such an occurrence is “something the industry has not seen since 2022.”
Prices will be about flat nationally, Ng says. Zillow’s most recent forecast, which shows how values are expected to change in the year ending June 2027, show them dropping in roughly half of the 100 largest U.S. metros for which data is available.
Buyers aren’t rushing in at a time when mortgage costs are rising and unpredictable. But those with the right combination of patience and cash could stand to benefit. “If you are financially qualified to buy a starter home, you are facing less competition and you’re more likely to get a price cut,” Ng says.