Real estate experts have given predictions for the Sunshine Coast market in 2022

Property experts have weighed in on how the booming Sunshine Coast’s residential real estate market is predicted to perform over the next six months and beyond.

Property experts say the Sunshine Coast’s booming property market is unlikely to sustain its “incredible” growth and have predicted it to plateau within six months.

It comes on the back of the latest Core Logic data which revealed more than 10 Sunshine Coast suburbs, including Maroochy River, Cooroibah, Rosemount and Warana were tipped to crack into the $1m club for median sale prices.

Ray White Group chief economist Nerida Conisbee said the Sunshine Coast had been one of the best performing markets nationally on the back of incredible price growth for 2021.

Ms Conisbee said the Sunshine Coast had been one of Australia’s top performing regions.

Ray White Group chief economist Nerida Conisbee weighs in on her predictions for the Sunshine Coast property market in 2022. Picture: Contributed

“The Sunshine Coast has seen a lot of people and money flowing from Sydney and Melbourne, which is a big part of what’s driving it,” Ms Conisbee said.

However, Ms Conisbee said there were signs that the market was slowing down on the back of recent restrictions to finance.

She said the market had started to swing back in the buyer’s favour.

“It will slow down, it already seems like it is. I don’t think prices will fall but it is slowing,” Ms Conisbee said.

“We may see further restrictions to finance which will settle things. Over the next 12 months it’s unlikely we will see the same growth.”

Ms Conisbee predicted the market to plateau, not crash.

“I still expect a good market next year but the price has got so expensive, it’s starting to be a mismatch.”

Sunshine Coast suburbs poised to enter $1m club

Battery Hill: September median house price $952,829. 12-month growth 32.6 per cent

Birtinya: September median house price: $903,137. 12-month growth 31.6 per cent

Black Mountain: September median house price $940,936. 12-month growth 34.9 per cent

Eudlo: September median house price $905,617. 12-month growth 30.7 per cent

Eumundi: September median house price $911,288. 12-month growth 24.7 per cent

Golden Beach: September median house price $943,527. 12-month growth 33 per cent

Lake Macdonald: September median house price $994,486. 12-month growth 32.9 per cent.

Maroochydore: September median house price $904,393. 12-month growth 23.7 per cent

Peregian Springs: September median house price $929,723. 12-month growth 29.5 per cent

Sunrise Beach: September median unit price $978,415. 12-month growth 41.6 per cent

Twin Waters: September median unit price $916,836. 12-month growth 17.8 per cent

Wurtulla: September median house price: $969.852. 12-month growth 35.4 per cent

Note: Data sourced by Core Logic as of September 2021.

Richardson and Wrench Coolum principal Mark Lawler said he expected the market to start to slow within six months.

“My personal opinion is that the upside should continue until March or April but then have a bit of a breather, a plateau,” Mr Lawler said.

“It could go for a while before we start to see prices correcting.

“I still think 2022 will be a good year.”

Coolum agent Mark Lawler predicted the market would plateau within six months.

In contrast, McGrath Estate Agents Caloundra agent Linda Feltman predicted further growth to come on the back of southern migration in the first quarter of 2022.

The Pelican Waters’ agent said she had several buyers from Sydney and Melbourne who wanted to purchase but were reluctant to buy sight unseen.

“They’re ready to buy but just not quite game to go sight unseen,” Ms Feltman said.

“So I imagine there is a lot of pent up frustration to get into Queensland, which will make that first quarter very active.

“I believe there is still some growth to come.”

It comes after a property report - Australian Housing Outlook 2021-2024 - forecast the Sunshine Coast to have a median house price of $986,000 by June 2024.