Sunshine Coast property: Latest statistics reveal suburb price growth from 2011-2021
Latest statistics have revealed the full extent of the Sunshine Coast’s staggering property price rise with several suburbs more than doubling. 49-SUBURB BREAKDOWN HERE
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A decade of eye-watering property price growth has been revealed with latest statistics showing just how much Sunshine Coast property has skyrocketed since 2011.
Spurred on by a tourism industry acting as a shop window for the region and more recently the impact of Covid-19 lockdowns on major cities, the upward trend has left many scrambling to get into the market.
Latest CoreLogic data from August 2011 to August 2021 revealed the significance of the increase.
The data showed median house prices in Alexandra Headland had shot up from $549,361 to more than $1.332m in 10 years.
Several other suburbs had more than doubled in price and growth west of the Bruce Highway had also been significant.
CHECK OUT HOW YOUR SUBURB’S MEDIAN HOUSE PRICE HAD GROWN IN THE PAST DECADE:
Long-time Sunshine Coast real estate agent John Anderson of Off The Plan Group said the tourism industry was a constant driver as holidaymakers spent time in the region and decided to relocate permanently after a short stay.
“I can’t blame people for wanting to live here,” Mr Anderson said.
He said the value for money the region offered Sydneysiders and other southerners made it an attractive prospect.
“So many sell a two-bedroom unit for a few million (in Sydney), buy a waterfront at Twin Waters for $1.2m and have $800,000 left over,” Mr Anderson said.
“It’s still cheap compared to Sydney.”
He said he wondered where the next generation would go, citing examples of a property in Sunshine Cove recently listed for offers over $2.99m and a million-dollar sale in Nambour.
“I’ve never seen it like this before,” he said.
“I’ve got buyers I’ve never met.”
He said virtual tours had become a “new way” for buyers to inspect and for every sale there were 4-5 buyers missing out.
“This place is paradise,” Mr Anderson said.
“It’s the busiest I’ve ever seen it (in 20 years of real estate locally).”
Social commentator Bernard Salt recently spoke of the ‘Manhattan Effect’ he forecast impacting the region as more recently-retired Baby Boomers moved into the area.
He spoke of the need to ensure there remained pathways for low-skilled workers to live and earn in the region to avoid the creation of a closed culture.
*Statistics from CoreLogic, only suburbs with data recorded for both 2011 and 2021 were included in the lists
CHECK OUT HOW YOUR SUBURB’S MEDIAN UNIT PRICE GREW THIS DECADE:
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