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PROPERTY MARKET INSIGHTS & GROWING  EQUITY IN YOUR PROPERTY PORTFOLIO

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PROPERTY MARKET INSIGHTS & GROWING EQUITY IN YOUR PROPERTY PORTFOLIO

“The Sunshine Coast firmly held onto its mantle as the most popular destination amongst Australian movers, with its share of all net internal migration flows increasing to 17.5 per cent in the December 2023 quarter…This was driven by an increase from last quarter of 33.3 per cent – particularly from the capitals”.

The Sunshine Coast is experiencing sustainable long-term growth in property investment, with 9.8% increase in median house prices over the past year. This growth is driven by sound economic fundamentals, including the development of the Maroochydore CBD, the expansion of the health precinct, a population influx, and a limited housing supply.

Photo Source: Regional Australia Institute, Regional Movers Index December 2023 Quarter Report

The Sunshine Coast remains the top destination for Australian movers, with its share of regional net internal migration flows increasing to 17.5% in the December 2023 quarter, whilst in second place, the Gold Coast follows with an 8.1% share.

Sydney-siders led the migration to the regions, accounting for 65% of all capital city outflows, although this is down from 73% the previous year, with Melbourne’s share slightly decreasing to 35%.

In this thriving context, the recent Luxe Coast Property Buyers Event at The G Contemporary in Noosa gathered leading industry thought leaders and enthusiasts for a night of insightful property discussions, charity, and celebration.

Recap of the Luxe Coast Property Buyers Event

The Luxe Coast Property Buyers Event was an unforgettable night in Noosa, with esteemed former cricketer Glenn McGrath opening the event. McGrath’s heartfelt speech on the invaluable work of cancer care nurses, provided by the McGrath Foundation, resonated deeply with attendees. Owners of The G Contemporary, Karen and Steve Beardsley showed their unwavering support by raising over $3,000 through raffle and art sales for this worthy cause.

Highlights of the evening included the winners of the “Bespoke in-air Property and Lifestyle Tour” with an exclusive Ghost Air helicopter ride and a limited-edition pigment reproduction by Melbourne Artist Steve Rosendale.

The event was co-hosted with In Noosa Magazine, Noosa’s premium lifestyle publication.

Unlocking the Hidden Market: Off-Market Transactions

Christine Mount, founder of Luxe Coastal Property Buyers Agency and Noosa’s No. 1 Buyer’s Agent, emphasized that around 30% of property transactions occur off-market, providing buyers with unique opportunities to access the hidden market. For those looking to purchase a new home or property investment in Noosa and the Sunshine Coast, leveraging the expertise of the most experienced buyer’s agent in Noosa and the Sunshine Coast is crucial.

With over 30 years of experience, Christine Mount ensures her clients tap into these exclusive opportunities, securing properties not listed on the open market, in addition to negotiating better deals. Christine encourages potential buyers to contact her for insights into the best streets and suburbs to buy in Noosa and the Sunshine Coast, as she delves deep into local market nuances.

Property Market Trends and Insights

Stuart Greensill, Director at Herron Todd White, provided a comprehensive overview of current property market trends. He noted that despite recent interest rate hikes, there is a sense of confidence in the general residential market. Construction costs have surged by approximately 125% since 2021, posing challenges for developers but also highlighting the scarcity of new supply.

This limited supply, coupled with buyer demand, has driven the region’s growth, resulting in a 9.8% increase in median house prices over the last 12 months. Stuart always highlights you have to be very mindful when quoting median prices as the devil is in the detail, specific not only to the exact property but also local market nuances. That’s why you need a good buyers’ agent to guide you through pricing, through very different sub-markets, even in the same suburb.

Prices remain strong for high-quality homes in Noosa and the Sunshine Coast

Greensill, an industry expert in valuing high-end luxury homes and acreage, observed that the prestige market remains strong, evidenced by seven sales over $10 million in Noosa in 2023. Additionally, 127 sales between $4 million and $10 million underscore the continuing demand for luxury homes.

The rental market remains robust, although rent increases have slowed, and yields have dropped as property values outpace rental growth. Greensill highlighted, with the infrastructure spending due to the upcoming Olympic Games in 2032, he remains optimistic about the Sunshine Coast, the market’s stability and growth prospects moving forward.

Maximizing Property Potential Through Design

Di Henshall, Founder of Di Henshall Interior Design, is a multi-award-winning designer renowned globally and across Australia. She shared her expertise on how to unlock the true potential of your home, holiday retreat, or investment property through thoughtful design. Di emphasized the importance of essential design elements for sub-tropical homes, including colour, texture, lighting, and space. She also highlighted additional considerations such as orientation, landscaping, and airflow/ventilation.

Di concluded her presentation with a captivating case study of a home she designed and built in the Noosa River precinct. The biggest challenge was the size of the block, yet the brief was clear: design a house that would appeal to a broad demographic. The wish list included four bedrooms, each with an ensuite bathroom, a separate butler’s pantry, a wine cellar, a lift to the second level, a library/office, a sauna and wet room, a swimming pool, and outdoor living terraces.

Despite these challenges, Di successfully incorporated all elements on the wish list. The result was a stunning property that sold for a record price, much to the developers’ delight. This case study exemplifies how strategic design can enhance property value and appeal, even within the constraints of a challenging brief.

Growing Wealth in Your Property Portfolio

Christine Mount shared invaluable strategies for growing wealth in both residential and commercial property portfolios; she outlined three key ways to build equity in the Sunshine Coast.

1. Secret Sales and Strong Negotiations: Accessing off-market transactions and negotiating favourable terms can provide immediate equity from day one.

2. Understanding Property Market Fundamentals: Staying informed about market trends and areas of growth ensures smarter investment decisions for both residential homes and rental properties. Understanding local market nuances is essential in a lifestyle location, where one side of the street may be more than three times the value, than a dry block or a house with a limited water view.

3. Leveraging Design to Unlock Potential: Implementing superior design elements can exponentially increase a property’s value and appeal.

Conclusion

The Luxe Coastal Property Buyers Event was not just a celebration of Noosa’s vibrant property market but also a testament to the power of community and charity.

With insights from industry experts and a focus on off-market opportunities, design innovation, and market trends, attendees left equipped with the knowledge to make informed investment decisions. As Noosa’s most experienced buyer’s agent, Christine Mount continues to lead the way in navigating this dynamic market, ensuring her clients achieve exceptional results.

For those seeking to invest in Noosa and the Sunshine Coast, understanding where to buy and how to leverage off-market opportunities is essential. Partnering with Noosa’s No.1 Buyers Agency, Luxe Coastal Property Buyer’s will provide the expertise and insider knowledge needed to thrive in this competitive landscape.