Sunshine Coast Property: New suburbs that have cracked $1m median house price

More than 30 Sunshine Coast and Noosa suburbs have been named as new members of the millionaire’s club with data showing median home values rising above seven figures. SEE IF YOURS MADE THE LIST

Up to 35 suburbs from the Sunshine Coast and Noosa have been named as newcomers to the millionaire’s club following a bumper quarter for the property market at the end of 2021.

Data commissioned by CoreLogic revealed 35 suburbs from Cooroibah to Wurtulla have median house prices of more than $1m.

Hardworking suburbs such as Maleny and Forest Glen have had their median house prices vault over the magical seven digit number, reaching heights of $1.04m $1.03m respectively.

Pam Court Realty’s Pam Court said her homeowners were “absolutely loving” the value they were getting for their house, especially in Mountain Creek where the median house price was now $1,036,601.

“There are very little homes under a million at the moment, I’ve probably sold virtually between 20 to 30 homes over $1m in the last 12 months,” Ms Court said.

“Properties were even being sold off market … I’ve even done sales where they were sold sight unseen, with (the buyers) seeing the property just from video.”

Coolum Coastal Property’s Andy Lake said the data was a bit skewed due to the massive property rush from September to November in 2021.

“The momentum was crazy last year, I had never seen anything like that, we would get multiple offers for the few houses that were on the market,” Mr Lake said.

The "Dome Home" along Dunnart Place, Mountain Creek.

“We had 50 offers on one house … if you didn’t get 20 offers on a home you’d be disappointed.”

CoreLogic’s data showed Coolum Beach’s median house value was $1.43m as of May 2022, up from $946,984.

Mr Lake said a combination of low stock, low interest rates, a high volume of buyers and interstate migration played a part in the increased value for homes on the Sunshine Coast.

The Coolum Beach real estate agent said however since January the market had slowed due to higher interest rates and a low volume of homebuyers.

Data also showed homes in Sunshine Beach, Noosa Heads and Castaways Beach had the highest median value for homes in regional Queensland, being $2.65m, $2.41m and $2.34m in May 2022 respectively.