Living and working on the Sunshine Coast makes for a fabulous life, but it is also a natural hub for success as a building company. The Sunshine Coast is hot property as people from all over Australia (and the world) decide to make a life here, or choose it as a regular holiday destination, or a great place to invest. The migration rates to our beautiful region continue to grow and with them the property market.
Infrastructure is following
Aura in Caloundra’s south, is fast becoming Australia’s leading purpose-built community with educational, medical and shopping facilities planned into the big picture. The University hospital, the Sunshine Coast light rail project, and airport expansions are all on track to aid our growth. The newly built Sunshine Coast Convention Centre is also designed to be a world class exhibition facility right here on the Coast and is bound to bring in newcomers from all over.
Faith in the Coasts’ property market is proving solid and with good reason. QBE’s Housing Outlook shows that the Sunshine Coast experienced Queensland’s healthiest rate of price growth in 2018. The Valuer-General’s Property Market Movement Report 2018 pointed to expenditure on infrastructure construction, tourism and the steady demand for our coastal lifestyle as key drivers of this market growth.
The facts & figures
During 2018, median property prices tracked from $599k (houses) and $421k (units) in March up to $618.7k (houses) and $430k (units) by the end of September. Price growth increased 7.7% (houses) and 5.3% (units) over the year – a substantial growth. Increases in rental yields are really solid too: between 3.5%-4.5% for houses and 4.5%-5.5% for units, with vacancy rates below 2.5% (and as low as 1% in key areas) across the region.
Growth continues in 2019 with a forecast increase of 2 – 6% in the marketing, and rental properties on the Sunshine Coast predicted to rise in value between 2 – 5%. Research from QBE indicates the good news is here to stay, with Sunshine Coast properties expected to increase in value by 9% over the next 3 years with median house prices reaching an estimated $650,000 by mid 2021.
If you’d like to chat about building a home or rental property on the beautiful Sunshine Coast, we’d love to hear from you.