What Sunshine Coast home values could be in 2028

The Sunshine Coast could be home to two $4 million-plus suburbs by 2028, with exclusive analysis revealing the top 10 suburbs for price growth over the past five years. Search your suburb!

An aerial image of the Sunshine Coast, looking towards Coolum Beach. Michael Heritage / EyeEm

The Sunshine Coast could be home to two $4 million-plus suburbs by 2028, with exclusive analysis revealing the top 10 suburbs for price growth over the past five years.

PropTrack research has revealed that the median dwelling price in Noosa Heads could hit $4.875 million within five years based on its staggering 150 per cent price growth since 2018.

The median dwelling price for both houses and units combined is currently $1.95 million.

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Last sold in 2013 for $3,450,000, 2/29 Allambi Rise Little Cove recently sold for $7.6m. Picture: Tom Offermann Real Estate

Sunshine Beach is also poised to reach $4.28 million on the five year trend, which takes into account the periods before, during and after the pandemic property boom.

If that five year trend were to continue, the median dwelling price in Sunshine Beach could reach $4.248 million, according to the analysis.

There, the median dwelling price has increased 127 per cent in five years.

View over Sunshine Beach. iStock.

Doonan could also break through into the $3 million-plus club with a median dwelling price of $3.169 million by 2028.

Meanwhile, Mudjimba, currently the cheapest suburb on the top 10 list with a median of $1.045 million, recorded the third strongest growth with 103 per cent.

If that trend continued, the median dwelling price could hit $2.12 million.

Eumundi, Noosaville, Buddina, Cooroibah, Peregian Beach and Twin Waters could also be in the $2 million-plus club by 2028, according to the analysis.

68 Noosa Parade, Noosa Heads, sold for $19.6m in November 2022 Photo: Supplied.

PropTrack economist Angus Moore said that while it was unlikely Queensland would experience the same growth rate recorded during the pandemic years, there were key drivers that suggested price growth could continue.

“Certainly the last five years were pretty unusual,” he said.

“In 2021 alone, prices rose nationally by 23 per cent, the fastest growth since 1880, that’s 140 years ago.

“That was an unusually strong year and is unlikely to be repeated but southeast Queensland has always been a strong destination for migration due to its relative affordability (to Sydney and Melbourne) and its lifestyle, and it still is.”

46 Seaview Terrace, Sunshine Beach, sold for $17m in 2020

But the call for people to return to work could cause some places to “flatline”, according to Cohen Handler Buyers Agents Queensland managing director Jordan Navybox.

He tipped that some suburbs, particularly those further away from the main centres, could soon see an increase in listings at the same time as demand dried up.

“Those places further away from the main centres, people piled into them to get away from the cities but the roads are busy again, people are back in the office and they are getting sick of the commute,” he said.

“I think we could see more supply than buyers in some areas, but as they leave those areas that will put pressure on purchase and rental prices closer to the main centres again.”

Aerial view of Noosa Heads.

Herron Todd White director Stuart Greensill said that when looking at residential property, the land was the main component of value.

“ We have all heard the catchcry ‘location, location, location’ when it comes to property and typically this brings with it a high price tag, especially when we consider the recent

increases in values during the Covid pandemic,” he said in the latest HTW Month In Review report for May.

“The coastal lifestyle is continuously sought after, so if you can find it, go for it!

“To grab a property in a champagne location on a beer budget is still

possible … You will just have to compromise on the unit or home.”

TOP 10 GROWTH STARS SINCE 2018

Suburb/current median/2028 median/5 yr growth %

1. Noosa Heads $1,950,000; $4,875,000; 150%

2. Sunshine Beach $1,875,000; $4,248,000; 127%

3. Mudjimba $1,045,000; $2,120,000; 103%

4. Eumundi $1,206,000; $2,415,000; 100%

5. Noosaville $1,300,000; $2,590,000; 99%

6. Buddina $1,355,000; $2,680,000; 98%

7. Cooroibah $1,300,000; $2,541,000; 95%

8. Peregian Beach $1,460,000; $2,829,000; 94%

9. Twin Waters $1,500,000; $2,885,000; 92%

10. Doonan; $1,670,000; $3,169,000; 90%

(Median is based on houses and units combined. Source: PropTrack)