Coast’s first million-dollar suburb
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.
Sought-after property at Minyama.