Spring set to turn up the heat on Sunshine Coast property market
A combination of buyer demand and a lack of listings on the eve of the spring selling season is tipped to turn up the blast furnace on what is already a red-hot market on the Sunshine Coast.
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A combination of buyer demand and a lack of listings on the eve of the spring selling season is tipped to turn up the blast furnace on what is already a red-hot market on the Sunshine Coast.
Interest in the region, which is now home to Queensland’s highest ever residential house price – $34 million at Sunshine Beach – shows no signs of abating, with the latest lockdowns only adding to the growing conga line of buyers looking to make the move to the Sunshine Coast.
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REA Group executive manager of economic research Cameron Kusher said while supply might increase over the spring months, buyer demand was expected to remain strong.
“The message from real estate agents to potential vendors is that the demand is there,” he said.
“And with people in lockdown (in Sydney and Melbourne), we are seeing an increase in views per listing out of those cities so the message has really been, we don’t know what will happen in coming months so now is the time to get your property on the market.”
Mr Kusher said interest in properties across the southeast region had been “strong across the board”, particularly on the Sunshine Coast and Gold Coast.
He said there was also still plenty of demand for “trophy homes” in places like Noosa and Sunshine Beach.
“The prices (being paid) might seem expensive but relative to what you pay for something similar in say Sydney, it is still quite affordable,” he said.
Recently, a four-bedroom house on an 840sqm waterfront block in Minyama sold for $3.3 million, a four-bedroom duplex at Mooloolaba sold for $3.45 million and a hinterland mansion at Maleny sold for an undisclosed price believed to be between $15 million and $17 million.
Mining magnate Gina Rinehart is widely rumoured to be the new owner of the $34 million Sunshine Beach property.
New data from REA Group shows Alexandra Headland has seen one of the biggest increases in views per listing in Queensland – up 60.87 per cent in six months.
Buyers are also being drawn to Buderim, where views per listing have soared 26.74 per cent in just six months.
Alexandra Headland now has a median sales price of $1.265 million, up 12.4 per cent in 12 months, while Buderim house values are up 17 per cent to $825,500.
Tom Offermann Real Estate principal Tom Offerman, who has handled many of the region’s biggest sales, said the market was “extremely tight”.
He said the region had become a magnet for cashed-up interstate buyers keen to escape the bigger cities since the pandemic.
“What we are seeing is a lot more buyers wanting properties to live in full-time, so they want to settle here,” Mr Offermann said.
“There is a lot changing hands privately, and those that are listed, we are averaging eight to 12 registered bidders at every auction.
“We are still listing a good number of properties each week, but they sell fast.”
Originally published as Spring set to turn up the heat on Sunshine Coast property market
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