It’s a suburb most people have never even heard of, but Yaroomba has been an unexpected gold mine for investors Andrew and Kristen Cornale.
The couple, who moved from Sydney to the Sunshine Coast after the pandemic, make as much as $30,000 a month through the short-term rental market from their beach house at 5 Maracas Bay Close.
Kristen and Andrew Cornale at their designer beach house in Yaroomba that is returning $14,000 to $30,000 a month through short-term rental. Picture: Lachie Millard.
They only bought it 12 months ago, but the four-bedroom house has already been appraised at a price $500,000 more than what they paid for it.
With an increase in interstate visitors post-Covid, the property has been booked for 91 per cent of the current winter season.
This property at 5 Maracas Bay Close, Yaroomba, is inviting offers.
“It’s a really beautiful suburb at the foot of Mount Coolum,” Mr Cornale said. “With regards to investment, it’s going to be the next suburb that goes off.
“We get a lot of tourists — interstate and also international, usually a family with kids who want to stay together, because we’re only 10 minutes from the airport, 5 minutes from Coolum Beach, and 15 minutes to Noosa.”
But while the house has undoubtedly been a good investment, the Cornales have a hankering for acreage and have listed the property for sale.
This Yaroomba beach house earns $30,000 a month when rented short-term in the summer months.
“We’re probably crazy, but we’re actually looking to purchase farmland and raise cattle,” Mr Cornale said.
“Even to foot a deposit on another property, I’d have to sell this one, so if someone came along with the right offer, we’d definitely consider it.”
The newly-built house, which operates as an Airbnb, features high-end finishes and integrated appliances, and is in a gated community with private beach access, uninterrupted views of Mount Coolum, and a pool.
This property at 5 Maracas Bay Close, Yaroomba, is inviting offers. Image supplied.
“I really think Queensland’s an amazing market,” Mr Cornale said.
“The Sunny Coast in general is seeing a lot of growth outside of Noosa. It’s starting to trickle down.
“When we select a property, we look for quality, a home that’s built to a high standard, and in a good location, close to amenities, airports, schools, and beaches.”
Mr Cornale said he planned to keep their current permanent place of residence in Coolum and eventually rent it out.
They pair also own an investment property in Lake Macquarie on the NSW central coast, which returns about $8000 a month.
The Yaroomba house is modern and in a gated estate near the beach.
“We want to hold the one in NSW for a bit longer because it hasn’t yet returned enough capital growth,” he said.
Daniel Powers of McGrath Estate Agents said the Cornales were smart in buying a property that was well-built and in a great location, that they marketed well to tenants.
“When I speak to buyers from Melbourne, Sydney and New Zealand, they aren’t familiar with these pocket suburbs,” Mr Powers said.
“These guys recognised there’s a scarcity of land in the area and a high demand to want to be here. Yaroomba’s just this little special pocket and they’ve marketed it well as a short-term rental. It offers a fantastic, safe, secure lifestyle.”
Mr Power said he was starting to see more investors back in the market — particularly young families willing to renovate.
“I think people recognise there’s a big opportunity if you have the hands-on skills to find that renovator and make it special,” he said.
“If you’re from New Zealand or Victoria, the Sunny Coast has a warm, inviting atmosphere.”
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