With all the recent news about the property market overheating, it’s natural to wonder if the Sunshine Coast boom will go bust. Investors, in particular, are concerned that they might be buying at the top of the market.
But I agree with many other property experts that we haven’t hit the peak yet. While there has been an unprecedented growth spurt on the Coast, the local market is only just catching up to regional and capital city markets interstate.
I think the current level of growth is sustainable, because the factors that are driving the growth – like interstate migration, cheap credit and a shortage of land – aren’t going away anytime soon. The Coast is a great place to live and its affordable lifestyle will continue to attract newcomers for this reason.
Consider, too, that the situation we’re in now is different to the boom-bust cycles we’ve had in the past. Typically, busts happen in an artificially over-flated market. This time around, however, the demand is being driven by owner-occupiers – not by speculative investors.
In the short term, there’s little doubt the property market will continue to grow, but don’t be surprised if the frenzied buying activity starts to settle down. From my years of experience, I know there are ups and downs in property, but prices always rise over the longer term. And with investors slowly coming back into the market, this will create more competition and keep pushing up house prices.
The good news for buyers is that for the remainder of 2021 at least, Dwyer still has great-value property options on registered land and existing homes.
*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.