Coast mar­ket’s one of strong­est in Queens­land

But slight drop in me­dian house price

Sunshine Coast Daily - - SOLD ON - An­to­nia Mer­corella REIQ CEO

ALTHOUGH the Sun­shine Coast LGA is one of the strong­est growth mar­kets in the state, this quar­ter de­liv­ered a small slip in the me­dian house price of 0.5%, to a quar­terly me­dian of $550,000.

It’s pos­si­ble this is an indi­ca­tor that the his­tor­i­cally strong growth of this mar­ket may be slow­ing, although it’s too early to call at this stage.

Over the past 12 months this mar­ket grew a hefty 5.9% and, com­pared with five years ago, the mar­ket has grown more than 26%.

The Sun­shine Coast LGA is one of the only four LGAs re­port­ing a fall in list­ings vol­umes for the 12 months to May 2017.

This mar­ket typ­i­cally of­fers a ven­dor dis­count of a tiny 3.7%, which is one of the small­est dis­counts in the state. The unit mar­ket didn’t per­form as strongly as the house mar­ket this quar­ter, with the me­dian unit price fall­ing 3.6% to $385,000.

How­ever, the an­nual trend is still rea­son­ably ro­bust, with growth of 3.3% since June last year.

Va­can­cies in this re­gion re­main tight and this is likely to put up­ward pres­sure on rents over the short term.

This area would ben­e­fit from new con­struc­tion to ease pres­sure on rental ac­com­mo­da­tion.

Gympie is one of our re­silient hous­ing mar­kets, with a steady per­for­mance across houses and units over the June quar­ter and for the past year.

The an­nual me­dian house price in Gympie (for prop­er­ties smaller than 2400sq m) has grown 2.6% to reach $277,000. Over the past five years this mar­ket has grown 8.6% and is de­liv­er­ing con­sis­tent, steady growth for prop­erty own­ers.

The unit mar­ket is very small, with just 12 trans­ac­tions in the June quar­ter. How­ever, it’s still a steady per­former with growth of 1% over the past 12 months and 32.1% over the past five years. Gympie’s an­nual me­dian unit price is $257,500.

PHOTO: ERLE LEVEY

UPWARRDS TREND: Over the past 12 months the Sun­shine Coast mar­ket grew 5.9% and, com­pared with five years ago, the mar­ket has grown more than 26%.

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