Interstate demand, fear of missing out driving Sunshine Coast property prices up

A 30-year-old Sunshine Coast home has been snapped up for $200,000 more than what a similar property 50m away sold for only six months earlier.

A 30-year-old Sunshine Coast home has been snapped up for $200,000 more than what a similar property 50m away sold for only six months earlier.

Details of the Buddina home sale were revealed as another example of the Sunshine Coast's hot property market, driven by interstate demand and "fear of missing out".

The three-bedroom home on a 578sq m block that is walking distance to Buddina Beach and Kawana Shopping World sold in February for $980,000.

According to RP Data the last time the home sold was in 1981 for $46,500.

Herron Todd White Sunshine Coast director Stuart Greensill wrote in a recent report that a similar property 50m away sold for $730,000 in September last year.

"Typically, the start of the year can be a little patchy," Mr Greensill said.

"Not this year.

"The first two months has continued on from where 2020 left off.

"Stock levels remain very low and demand is strong."

Mr Greensill said it had become apparent that purchasers coming from Melbourne and Sydney thought prices were "pretty cheap" compared to where they were from.

"That combined with that real fear of missing out is becoming more and more evident," he said.

Last month Real Estate Institute of Queensland named the Sunshine Coast the "shining star" of the state's property market.

The same report showed that Noosa retained its title for the most expensive market in the state.

The quarterly report found sales activity was up 11.5 per cent and property prices for homes had grown 7.7 per cent over the past year.

Originally published as Interstate demand, fear of missing out driving Sunshine Coast property prices up