A lot has happened since COVID hit last March. But the one constant has been the enduring resilience of the Sunshine Coast property market – it’s stronger than ever. In fact, it’s literally gone nuts over the past 10 months.
The region is now outperforming Greater Brisbane and even the Gold Coast, not to mention capital cities like Sydney and Melbourne. Prices here have risen 23% in a year – that’s the biggest annual increase in 17 years. And for the first time, the median house price is now over $800,000.
These market conditions are a combination of many factors. Record-low interest rates mean buyers can borrow more money. But there’s also been a monumental lifestyle shift during the pandemic, and lifestyle-driven locations like the Sunny Coast are experiencing the steepest price gains because of the higher demand.
Southerners are migrating here in record numbers and the Coast only needs a few thousand extra people moving to the area to really put pressure on the housing market. It was only a few weeks ago that the premier paused interstate arrivals because “Queensland was being loved to death”, as she put it.
But it’s not just interstate buyers. In all my years of selling property, I’ve never had so many locals looking for quality investment properties right here on the Coast.
Of course, the flipside is that good properties – and good land for building – are now in short supply due to this unprecedented demand. This shortage will continue to push up prices, which is great for capital growth.
*The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Dwyer Property Investments recommends that you seek independent legal, financial and taxation advice before acting on any information in this article.