THE LUXE COASTAL BLOG

BUYING A PROPERTY ON THE SUNSHINE COAST?

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The Sunshine Coast is one hour north of Brisbane and is one of the fastest-growing regions in Australia with the property market offering incredible opportunities for the educated investor or owner occupier with demand for housing constantly overwhelming supply.

Encompassing a population of 390,000 through 130 cities and towns including coastal Caloundra, Mooloolaba, Maroochydore, Marcoola, Coolum, Sunshine Beach, Noosa Heads and Rainbow Beach as well as the hinterland towns of Gympie, Eumundi, Yandina, Nambour, Mapleton, Montville and Maleny. By the end of 2021, Sunshine Coast suburbs like Minyama (49.7%) Sunshine Beach (47.6%) and Buddina (44.3%) are Australia’s top regional suburbs for growth.

Sunshine Coast median house prices outperformed Brisbane, leaping to $875,000 over the quarter (Dec 2021) Dr Nicola Powell, Domain Chief of Research and Economics.

Where Can I Buy On The Sunshine Coast?

The strength of a regional economy is based in its’ diversity across several key sectors including healthcare, education, finance and professional business services.

There are so many opportunities for solid returns, but it’s the understanding of each local precinct that will ensure your investment stays the test of time.

Median House Prices Over $1Million

According to Domain Real Estate, there are now 17 suburbs in the Sunshine Coast region with median house prices of $1 million or more, including Noosa Heads, Coolum Beach and Mooloolaba. Sunshine Beach is just $50 away from becoming Queensland’s first $3 million suburb.

Housing Under $850,000

In March 2022, Domain (real estate) said “based on annual median house prices up to December 2021 show that while houses close to the beach have become significantly more expensive, there are beachside suburbs where it’s still possible to get in for under $850,000. Golden Beach at Caloundra, Maroochydore and Currimundi all fall within that price range, although buyers would not be on the beach side of the highway for that price, said Katherine Carter of Harc” Caloundra”.

“The flow-on effect of increasing house prices was now playing out in the local unit market, Mr Chapman of Direct Agengts said.

“When houses get to a value that first-home buyers can’t afford, then down the track you see units and townhouses spike – that’s what we’ve really seen happen in the past few months,” he said.

For more detailed information click on where you can still buy on the Sunshine Coast for less than $850,000

Spotlight Coastal Properties In The Health Precinct

The Sunshine Coast Health Precinct is one of the largest health precincts in the Southern Hemisphere. Residential dwellings, townhouses and units, within a 10-15 minute drive from the Sunshine Coast University Hospital (SCUH), provide solid, long term rental and capital growth prospects, attracting quality, professional tenants.

Suburbs such as Birtinya, Meridan Plains, Little Mountain, Minyama and Mount Creek are well positioned to take advantage of this growth.

Maroochydore & Surrounding Areas

Maroochydore CBD is a “City by the Sea” and is the first “greenfield” CBD in Australia providing the business heart to the Sunshine Coast, creating a commercial office and retail precinct. It is the home of the Maroochydore International Airport which services the Sunshine Coast.

With 80% of residents living in Maroochydore, all year round, this is a great suburb to invest in. Median property prices over the last year range from $940,000 for houses to $605,000 for units. If you are looking for an investment property, consider houses in Maroochydore rent out for $620 PW with an annual rental yield of 3.9% and units rent for $495 PW with a rental yield of 4.8%. Based on five years of sales, Maroochydore has seen a compound growth rate of 27.0% for houses and 22.2% for units (source: realestate.com)

The popularity of the region is highlighted with Buderim, a short 12 minute drive from Maroochydore, topping the largest number of sales, in Regional Queensland (2021) at 746 houses sales, followed by Hope Island on the Gold Coast at only 478.

Want to find out more?

Get the latest insights, property market knowledge and buying strategies, and discuss your plans for investing in Sunshine Coast property?

Book a consultation with our local expert and Qualified Property Investment Adviser, Christine Mount. Christine’s advice is completely independent, one-on-one and cost and obligation-free.