Prices surge in Coast’s ‘powerhouse’ property market

Sunshine Coast Daily article | by Amber Hooker | 8 November 2018

THE Sunshine Coast is Queensland’s “powerhouse” property market, boasting 15 of the 68 suburbs to experience double-digit price growth.
The local government area incorporates Noosa Shire, and overtook the Gold Coast to claim the title of best annual performer of all areas analysed by the REIQ’s Queensland Market Monitor report.

The annual median house price grew 6.4 per cent, unit prices increased 4.9 per cent and the rental market remained tight with a 2 per cent vacancy for the year to June.

“This is extraordinary growth, especially when compared with Brisbane LGA, which added a much more modest 2.5 per cent to its annual median house price,” REIQ CEO Antonia Mercorella said.

Minyama, Kawana Waters was the region’s stand-out with 45.8 per cent growth to become the Coast’s fourth “million-dollar suburb”.

It was the fourth-strongest performer in Queensland and one of only 11 suburbs to experience more than 20 per cent annual growth.

Noosa’s top-performing suburbs of Sunshine Beach, Noosa Heads, Tewantin, and Sunrise Beach have delivered between 16.7 per cent and 11 per cent growth, outstripping the Noosa Shire growth rate.

Two of the top-five most affordable suburbs also recorded double-digit median house price growth, including Landsborough (up 13.4 per cent to $432,500) and Coes Creek (up 12 per cent to $442,500).

Ms Mercorella said said stunning water views, pristine wilderness areas, exclusivity, access to world-class beaches, dining and retail opportunities drove demand for most Sunshine Coast and Noosa areas.

“This is one of the most sought-after areas in the country and the data clearly proves how desirable real estate is in this part of the world.”

DOUBLE-DIGITS

Battery Hill (12%)
Coes Creek (12%)
Coolum Beach (11.2%)
Landsborough (13.4%)
Maroochydore (11.2%)
Minyama (45.8%)
Mount Coolum (21.9%)
Mountain Creek (10.9%)
Pelican Waters (13.9%)
Twin Waters (11.2%)
Yaroomba (19.7%)
Noosa Heads (16%)
Sunrise Beach (11%)
Sunshine Beach (16.7%)
Tewantin (11.2%)

By |November 15th, 2018|News|0 Comments