Sunshine Coast has been one of the best performing property market in Australia
PRPTY360 | December 10, 2020
"The Sunshine Coast's rental market is seeing huge demand mainly due to shortage of stock"
The Sunshine Coast is emerging as one of Queensland’s strongest residential property markets, outpacing both Brisbane and Gold Coast as an influx of sea-changers to the region bolsters house prices.
The Sunshine Coast has recorded consistent dwelling price growth for both houses and units, while simultaneously, population growth in the region is at its highest level in almost a decade, CBRE research shows.
The Sunshine Coast’s median house price increased by 3.8 per cent to $622,500 in the year to June 2020, and its median unit price recorded 2.4 per cent growth to $420,000.
CBRE notes that the annual rates of growth were higher than the Gold Coast—3.1 per cent and 1.7 per cent respectively—and the Greater Brisbane area, which grew 1.3 per cent and 1.7 per cent respectively.
Key hotspots across the Sunshine Coast and Gold Coast have seen price hikes of up to 25 per cent, fuelled by low interest rates and the promise of a laidback lifestyle free of pandemic pain.
Internal migration for the Sunshine Coast is 20% higher than any other SEQ region and while the raw number is about 1,000 than the Gold Coast, the Sunshine Coast is half the size of the Gold Coast and so, in effect, is experiencing double the growth rate.
So, when it comes to people, the Sunshine Coast is getting more, wanting more housing, with more affordability than the rest of SEQ (raw numbers or per capita rate). This is where the opportunity is at. This is where the future is at.