Sunshine Coast real estate: Suburban house prices rise in 12 months

Three Sunshine Coast hinterland suburbs have been named as quiet achievers with their median house prices rising by more than 40 per cent in a year. And they’re not where you’d expect.

Homes in the Sunshine Coast hinterland have been quietly selling for big money at a record pace with new data showing three new hotly contended suburbs.

CoreLogic data has revealed Ninderry as the top regional suburb to record the highest growth in Queensland with house prices rising by 45.4 per cent taking its median house value to $1.32m.

Valdora and Beerburrum took fourth and fifth place with house prices rising by 42.3 per cent and 42.2 per cent respectively in the last 12 months.

This takes their median house price to $1.41m in Valdora and $935,051 in Beerburrum.

All three suburbs are quite a distance from the beach stretching from as far south as Beerwah to just north of Yandina.

That Place Realty’s Diana Davidson chalked this rise in housing prices to demand being higher than supply.

Ninderry, Valdora and Beerburrum were among regional Queensland’s top performing suburbs in the last 12 months. Picture: CoreLogic

“You have growth in Mooloolaba that is enormous compared to 12 months ago along with Woombye, Palmwoods and the outskirts of Nambour, where prices have gone up by at least $200,000,” Ms Davidson said.

“It’s clear you don’t cap property prices anymore because the demand is too high.”

Ms Davidson said homes that were once affordable in suburbs such as Ninderry have risen due to potential buyers migrating south from Noosa and Doonan after being priced out of the market.

“It’s the same for Peregian Springs, it’s just the demand,” she said.

“A lot of people who are buying are cashed up and are prepared to pay $200,000 more than they would 18 months ago.”

Karnu Drive, Valdora. Picture: Contributed

Rumoured developments such as the Maroochydore to Brisbane rail project and the 2032 Olympics will cause the region’s property market to “mushroom” according to Ms Davidson.

“There’s just going to be too many people moving here over the next few years and even with projects like Aura and Stockland it will continue,” she said.

“If you don’t have the supply, prices will go up.”

Ninderry was ranked as the top regional Queensland suburb for its growth in the last 12 months. Picture: Contributed

Data from CoreLogic has shown Australian house values rose by 2.4 per cent adding $17,000 to housing prices.

Melbourne and Sydney however were not part of the boom with their growth trickling down from 9.3 per cent to 0.3 per cent for Sydney and from 5.8 per cent to 0.1 per cent for Melbourne.

CoreLogic’s research director Tim Lawless said regional Australia continued to show resilience to a slowdown with housing values across the combined regional areas rising at more than three times the pace of the combined capital cities through the March quarter.

“Virtually every capital city and major rest-of-state region has moved through a peak in the trend rate of growth some time last year or earlier this year,” Mr Lawless said.

Data showed regional home values increased 5.1 per cent in the three months to March, compared with the 1.5 per cent increase recorded across the combined capital cities.