April-June Quarter: Cheapest and most expensive Sunshine Coast suburbs
A Sunshine Coast real estate expert has given his insight after the latest sale data was released and revealed his expectations for the region in the lead up to the 2032 Olympic Games. See the cheapest and most expensive Sunshine Coast suburbs here.
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A Sunshine Coast real estate expert has given his insight after the latest sale data was released and revealed his expectations for the region in the lead up to the 2032 Olympic Games.
Real Estate Institute of Queensland Sunshine Coast Zone Chair Matt Diesel spoke of a currently steady property market on the back of data released for the April-June quarter.
The data showed between the Caloundra region up to Peregian Springs, 1134 properties were sold with a median selling price of $1.05m.
This proved to be a 2.09 per cent spike compared to the previous quarter and a 6.38 per cent rise compared to this time last year.
Mr Diesel said the past quarter concluded to be a “steady and stable” market and expects for the trend to continue until the 2032 Olympic Games in Brisbane, which is expected to lure internationals to buy and therefore increase house prices in South East Queensland.
Of 1134 sold, 122 were sourced from the Buderim region, however Mr Diesel noted the continuous popularity and major growth sector of the Buddina, Warana and Wurtulla area, which sold seven, 14 and 10 respectively.
Mr Diesel said sale prices have risen in these suburbs - stretching all the way down to Caloundra - since the peak of Covid, which sparked many buyers poor on time to pay premium prices for a roof over their heads, as long as the home was quickly built or recently renovated and ready to welcome its new occupants.
Entering the spring and summertime market, Mr Diesel expects southern and New Zealand buyers to move in time for Christmas as well as the new work and school year, promising a “healthy, strong finish to the year” in terms of sales.
Demand for housing is still outstripping supply but availability has “slightly increased” since this time last year and the year before, Mr Diesel noted.
The REIQ data showed Woombye and Yaroomba experienced the largest spike in median house prices in the last quarter at 22.22 per cent and 20 per cent respectively.
This brought the median house prices to $1.24m and $850,000 respectively, each a 7.55 per cent and a 12.26 per cent jump from the same time last year.
Mr Diesel mentioned the possibility of one or two sales greatly skewing the data.
Other notable median prices increases in the past three months occurred at Parrearra with a 21.68 per cent spike, Bokarina at 17.19 per cent, Minyama at 16.56 per cent and
Peregian Beach at 13.76 per cent.
The market in Warana also experienced a 19.28 per cent rise and a whopping 23.70 jump annually, having sold 64 properties in the past year.
Buderim outstripped every other Sunshine Coast suburb by far in terms of number of sales, boasting 511 in the past year.
Buderim’s median price scaled to about $1.26m in the past three months and $1.18m in the past year.
Noosa suburbs were not included in the data.
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