The Sunshine Coast is indisputably one of Australia’s great regions to live and play in. Just an hour and a half from bustling Brisbane, with beautiful stretches of coastline and a short 20 minute drive to the hinterland, it’s more than just a holiday destination; it’s a lifestyle.
Whilst the major cities have been seeing incredible growth over the recent years, lifestyle property markets, such as the Sunshine Coast, have underperformed in comparison.
The large scale migration from regional to metropolitan areas over the last decade fueled the demand for more housing to support the growing populations and drove house and rental prices up in these major cities.
We’re now seeing a trend, particularly among young families, of people looking for alternative locations to move to as capital city homes are becoming increasingly unaffordable. But it’s not just the house prices that are tempting this demographic to consider regions like the Sunshine Coast. Good school districts, fantastic beaches and the sense of community enjoyed in coastal towns are all very appealing reasons to raise children in the true Aussie lifestyle.
Across the Sunshine Coast, rental vacancy rates are under 1.5% which is a sure sign that property is in hot demand. A number of big developments both in housing and infrastructure are underway to meet the growing population on the Sunshine Coast. A $2billion University Hospital project being one that will not only service the residents but provide thousands of jobs too, no doubt attracting more people to the area from the larger cities.
The uplift in numbers returning to, or moving into the region for the first time, means the future for the Sunshine Coast property market is looking bright.
Property analysts are forecasting a 5% rise in rents and at least the same, likely up to 10%, on the average residential property price over the next year.
Sunshine Coast Suburbs
Noosa is by far the most recognised suburb of the Sunshine Coast. Known as a holiday destination for Australians from all over the country as well as overseas vacationers, it’s got everything you want to kick back and escape the big city for a long weekend or mini-break. There are over 300 holiday rental properties on Airbnb alone for Noosa. Combine that with all the other listing sites such as Stayz, Wotif – there’s clearly a lot of value in owning a rental property in this coastal town.
However, with Noosa’s reputation so well established, it isn’t a cheap market to get into. One well-tipped suburb to consider buying into, whether as an investor or an owner-occupier is Buddina. Buddina has actually rated the number one suburb on the Sunshine Coast when we look at livability and affordability. Just south of Mooloolaba and a closer commute to Brisbane, Buddina sits on an incredible stretch of white sand beach and with the median house price at $660,000 (compared to Noosa’s $768,750) and units at $406,250, it’s a tempting alternative to Noosa.
Other gems to keep an eye on during this growth boom for the region are Caloundra West, Meridan Plains, Twin Waters and Castaways Beach.
With a strong real estate market comes great responsibility. If you are thinking of buying or investing in the Sunshine Coast, be sure to get a pre-purchase building and pest inspection.
To ensure you aren’t purchasing a lemon, contact us now on (07) 5437 3344 or make a booking online.
Image Credit: Simon_sees