It seems the secret is out and people are flocking here in droves and securing property like never before. We have always had affordable housing on the Sunshine Coast but now, given the investment in infrastructure, we are forging ahead and attracting new talent who are all looking for a place to call home.
Increasingly we are seeing more and more businesses relocating here from interstate, which means job creation and a rise in consumer confidence. In fact, according to the Queensland government, our migration numbers revealed that in the year to March 2017, we had 15,716 people from interstate relocate to Qld – the highest figures in eight years.
This is great news for property owners who are reaping the benefits of increased demand. According to REIQ, “Southeast Queensland’s world-class beaches are driving median price growth for our coastal housing markets, with Noosa reining supreme with 9.6 per cent annual growth, followed by Gold Coast with 7.3 per cent annual growth and Sunshine Coast LGA with 6.8 per cent annual growth to median house prices”.
Properties are being listed and going under offer within weeks and, I am seeing the same trend with my own developments as our enquiry rate has increased significantly. My latest release Topaz, which I only released a few weeks ago, already has contracts on a number of the units.
For investors this is also great news. There is currently a high demand for rentals and limited stock – and not just over the Summer months. Thanks to our climate and national and international sporting events we have demand for rental properties all year round, with people willing to pay top dollar to secure a property.
And it seems the demand for property on the Sunshine Coast is set to continue for some time with REIQ predicting, “that when the Bruce Highway is improved to the point where commuting to Brisbane becomes more reasonable we will see demand balloon”.
The property boom is a long way from being over on the Sunshine Coast, in fact it feels like it is just warming up. If you would like to stay informed of my upcoming projects please click here to be added to our mailing list.
Image: Ariel of Alexandra Headland