Buyers rush for Sunshine Coast slice of paradise
Demand for property has skyrocketed, as recent figures reveal more buyers are on the lookout for homes in the area
DEMAND for property on the Sunshine Coast has skyrocketed, with new figures revealing substantially more potential buyers are searching for property in the area.
Noosa was the star performer according to the latest realetate.com.au Property Outlook.
It revealed views of listings of properties in Noosa had jumped by 24.2 per cent in the past quarter compared to the same time last year.
Within the Sunshine Coast local government area demand for property was up by 6.5 per cent.
REA Group chief economist Nerida Conisbee said many regional areas had experienced a lack of interest in their property markets and price drops in recent years, but that had now started to turn around.
The Sunshine Coast in particular has enjoyed a strong resurgence of interest of late with values and transaction levels rising and a larger number of lifestyle buyers focused on the area. The region’s tourism economy was also benefiting from strong interest in Queensland beach areas from cashed-up Chinese tourists.
There was also a renewed interest in the Sunshine Coast property market from Brisbane and interstate buyers.
Ms Conisbee said regional Queensland was on the way up generally, with the figures revealing a bigger lift in prospective buyers and renters in the Noosa and Sunshine Coast region than Brisbane.
Brisbane experienced an increase of just 5.9 per cent during the same period.
The report found there were five major regional towns or centres where demand had increased by 30 per cent or more compared with the same time last year.
Gladstone had the biggest surge in demand of 39.1 per cent, followed by the Fraser Coast, 33.8 per cent, Gympie 32.2 per cent, Mackay 31.1 per cent, and then Bundaberg 30 per cent.
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