Coast’s first mil­lion-dol­lar sub­urb

Sold On Sunshine Coast - - Suburb Profile | Minyama -

MINYAMA has be­come the Sun­shine Coast’s first res­i­den­tial mil­lion-dol­lar sub­urb with a me­dian house price for the 12 months to March now at $1.3 mil­lion.

It has been part of the heavy lift­ing of growth done by a few strongly per­form­ing sub­urbs that de­liv­ered Syd­ney-style cap­i­tal growth to south­east Queens­land, es­pe­cially when you con­sider the me­dian house price 25 years ago in 1993 was $179,000.

Agents ac­knowl­edge there is a fair bit go­ing on.

Ev­ery­one is try­ing to se­cure top lo­ca­tions... and they are pay­ing for it.

The beauty of the sub­urb is the deep-wa­ter an­chor­ages it of­fers on the var­i­ous water­ways branch­ing off the Mooloolah River, and the close prox­im­ity to the ocean ac­cess.

Minyama has al­ways been known for homes of good de­sign, es­pe­cially on Minyama Is­land and Mooloolah Is­land.

Now there are streets be­com­ing filled with brand new homes, such as Kum­bada Ct and Cy­press Ct.

The good thing is that peo­ple are not wast­ing their money on ren­o­vat­ing old homes. They un­der­stand that it is bet­ter to in­vest in good prod­uct, oth­er­wise they do not get back what they put in.

Quite sim­ply, you need to have a long vi­sion and the right ad­dress.

Buy­ers have been a com­bi­na­tion of yachties and those want­ing to moor power boats. Real yachties want big­ger frontages.

If it is a 18–20m frontage they may not ac­com­mo­date the big­ger boats.

Those snap­ping up prime po­si­tions are pre­dom­i­nantly lo­cal and south­east Queens­land buy­ers mov­ing around a fa­mil­iar mar­ket­place, one that they un­der­stand.

The de­mog­ra­phy is in­ter­est­ing – not so much re­tirees but pro­fes­sion­als and young fam­i­lies.

Young tradies are rub­bing shoul­ders with spe­cial­ists and sur­geons, while young pro­fes­sion­als are mix­ing with pi­lots and those down­siz­ing from ru­ral prop­er­ties.

Syd­ney and Mel­bourne buy­ers are com­ing, like in the ’90s, and spend­ing $3mil­lion-plus.

It’s a sign of the times for south­ern states as they see value but Minyama is also more favoured now than the Gold Coast.

While it has still got that laid­back feel, it is not as busy as our south­ern Queens­land cousin.

The dif­fer­ence is the Sun­shine Coast is now get­ting the in­fra­struc­ture to sup­port th­ese new res­i­dents in terms of health, ed­u­ca­tion, trans­port and recre­ational fa­cil­i­ties.

Minyama lives up to its name mean­ing “many” or “plen­ti­ful”.

It’s one of the se­lect ad­dresses on the Sun­shine Coast.

Yet the va­ri­ety of hous­ing re­flects the di­ver­sity of those in the com­mu­nity.

You only have to go for a morn­ing walk to get the pa­per and milk and you will meet teach­ers, fish­er­men, small busi­ness own­ers or cor­po­rate lead­ers, po­lice, nurses or re­tired farm­ers.

More of­ten than not, they have moved to Minyama … from across the world or across the street.

This di­ver­sity means it is no sur­prise you can ex­pect to pay any­thing from the mid to high $300,000s for a villa or town­house to multi-mil­lion-dol­lar water­front prop­er­ties.

In this past year there have been some sig­nif­i­cant sales, as well as a num­ber of re­builds, with peo­ple tak­ing ad­van­tage of the prime water­front po­si­tion.

The blend of water­front and dry prop­er­ties saw a me­dian house price lift to $1,240,000 in Fe­bru­ary af­ter a sus­tained price of $898,750 for three months in mid-2017, and $697,500 in Fe­bru­ary 2014.

Unit prices in Fe­bru­ary were $375,000, up from $335,000 the pre­vi­ous year.

PHOTO: BRETT WORTMAN

Sought-af­ter prop­erty at Minyama.

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