It’s no surprise to learn the Sunshine Coast has again secured its position as the nation’s top destination for internal migration, with a 16% share of movement over the past year, eclipsing the Gold Coast for the fifth quarter in a row.
Internal migration is the movement of Australians relocating from one region or city to another - and it seems that everyone is moving to the Sunshine Coast. Its popularity is easy to understand - great lifestyle, economic opportunities, and lower cost of living.
According to the Commonwealth Bank’s Regional Movers Index, the Sunshine Coast's charm has attracted many city dwellers, particularly millennials seeking affordability and a better quality of life.
| “Many people are realising the regions can offer the lifestyle they want and the jobs they’re after, minus big city problems - like long commute times, tolls and traffic,” Ms Liz RitchieRegional Australia Institute CEO |
HOW DOES THIS POPULATION MOVEMENT IMPACT MY PROPERTY INVESTMENT?
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The surge in migration to the Sunshine Coast has an instant and enduring effect, increasing demand for housing and driving up property prices significantly.
The region is experiencing a real estate boom, with an annual population growth rate of 3.7%, compared to Brisbane’s 1.9%. This rapid growth in demand has created fierce competition in the housing market, pushing property values upward.
The Commonwealth Bank report highlights this surge in demand has significantly increased competition in the housing market, leading to higher property prices and lower vacancy rates.
Above: FREE investor report: Discover the 7 invisible forces shaping the Sunshine Coast property market. DOWNLOAD HERE
FUTURE PROPERTY INVESTMENT PROSPECTS
Given the current trends, the Sunshine Coast presents a promising opportunity for property investment.
The continued influx of new residents and the region's robust economic development, including plans for a new Central Business District in Maroochydore, ensure sustained demand for housing.
This ongoing demand will support further increases in property values, making it a sound investment for the future.
The Sunshine Coast’s combination of a desirable lifestyle, strong economic growth, and rising population makes it an excellent location for property investment. As more people relocate here, the upward trend in house prices is expected to continue.
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If you'd like to talk about how your property portfolio could benefit from this regional popularity, give me a call on 1800 088 437 or click HERE and let's get in touch.
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Jason is the Managing Director of Dwyer Property Investments and a trusted local expert. Together with build partner Dwyer Quality Homes, he’s been helping Queenslanders buy profitable, cash-positive, tax-effective investment property for 35 years. Visit dwyerpropertyinvestments.com.au.
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