Sunshine Coast rental values: Property data reveals suburb trends

Weekly rental values have increased as much as $400 over the past 12 months in more than a dozen Sunshine Coast suburbs, new property data has revealed. See the map.

Hardworking Sunshine Coast beachside suburbs have been revealed as hot spots for rent hikes as new property data reveals a lack of supply for housing.

Property data from REA Group revealed more than two dozen suburbs were affected by rent increases in home and unit markets stretching from Caloundra to Noosa.

Marcus Beach, Mudjimba and Shelly Beach had the highest median percentage increase in the last year, rising 45.5 per cent, 37.7 per cent and 36.4 per cent respectively.

Their median rents were $1040, $950 and $750, which showed an increase between $270 and $468 a week.

Other suburbs which rounded out the top 10 for rent increases include Aroona, Moffat Beach, Dicky Beach, Kings Beach and Shelly Beach.

Professionals On The Coast Realty’s Zack de Jersey said parts of the data may be skewed due to luxury home rentals, particularly in Dicky Beach, raising the median rental values.

Mr de Jersey said however a lack of supply for housing was at the forefront of rent increases particularly in the southern end of the Sunshine Coast.

Professionals On The Coast Realty's Zack de Jersey.

“Places like Kings Beach where the majority of the area is units, we have seen that take off substantially due to a lack of supply,” Mr de Jersey said.

“We’ll place units on the market at $600 and we’ll have several tenants come in and bid $650 just to secure it.”

REA Group’s data showed a rise in unit rental values in areas such as such as Peregian Beach, Sunrise Beach and Warana, where rent climbed between 21 to 41 per cent.

Cameron Kusher from REA Group.

Beachside suburbs proved to be the go to for prospective renters migrating to the area, according to PropTrack’s Cameron Kusher.

“A lot of people moving in from interstate have found these areas to be great places to live and traditionally had low rent, and with this influx it’s led to the cost of rent being restrictive,” Mr Kusher said.

“In areas such as Marcus Beach and Castaways Beach where rent is more than $1000 a week, a lot of people can’t pay that, so they’ll look to renting in cheaper parts of the Coast that offer the same lifestyle.”

Areas such as Cooroy, Bli Bli, and Nambour recorded low rent increases for houses, with values only rising between 16.1 and 17 per cent.

Mr Kusher said the Sunshine Coast wasn’t alone with the rise in rental values with Brisbane, the Gold Coast and Wide Bay subjected to the same affects from interstate migration post-pandemic.