Sunny days for Coast growth sub­urbs

Sunshine Coast Daily - - SOLD ON - By SUNI GOLIGHTLY

HOUSE prices on the Sun­shine Coast re­main solid, as they have for the past five years, with prop­erty ex­perts ex­pect­ing the re­gion’s grow­ing pop­u­la­tion will fuel fur­ther de­mand from buy­ers look­ing for the “life­style fac­tor”.

The Real Es­tate In­sti­tute of Queens­land’s lat­est re­port cov­ers the June 2017 quar­ter and shows the an­nual me­dian house price for the Sun­shine Coast grew 6.2%, from $518,000 to $550,000 in the 12 months to June 2017.

This com­pares with the five-year growth in the me­dian sale price of 27.9%, from $430,000 in June 2012.

Sun­shine Beach tops the list of Sun­shine Coast sub­urbs with the high­est in­crease in prices – up 23.1%. It also ranked fifth in the state in terms of an­nual me­dian house price growth in the 12 months to June.

Dur­ing the last quar­ter, Te­wantin recorded the high­est num­ber of house sales in the re­gion with 45 sold.

Ray White Caloun­dra prin­ci­pal An­drew Gar­land said the strong fig­ures were an ac­cu­rate re­flec­tion of what he is see­ing in the mar­ket­place.

“The mar­ket on the Sun­shine Coast is re­ally strong and has seen good growth over past 18 months in terms of pric­ing,” Mr Gar­land said.

“This has been un­der­pinned by new de­vel­op­ments, the new hospi­tal and the new in­fra­struc­ture projects which all in­crease con­fi­dence in the area.

“We are see­ing a re­ally strong de­mand, es­pe­cially in houses. Houses are al­ways stronger than units, although in units the owner oc­cu­pier mar­ket sec­tor has im­proved sig­nif­i­cantly. Hous­ing has been go­ing nuts in this re­gion, and I see no rea­son why this will change while we have low in­ter­est rates and con­tin­ued im­prov­ing em­ploy­ment rates such as we have had over the past five years.”

REIQ Sun­shine Coast zone chair Am­ber Wer­chon said home buy­ers, en­cour­aged by the life­style fac­tor and low in­ter­est rates, “have en­tered the Sun­shine Coast mar­ket look­ing to reap the re­wards for many years time, as a grow­ing pop­u­la­tion will mean grow­ing de­mand for a slice of our beau­ti­ful Sun­shine Coast life­style”.

REIQ CEO An­to­nia Mer­corella said Queens­land’s south-east cor­ner once again stood out as the ideal hous­ing mar­ket, de­liv­er­ing steady, sus­tain­able growth.

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