Coast’s mighty property rise defies pandemic
A new property report has revealed an "incredible" growth spurt in property prices on the Sunshine Coast. Check out how your suburb fared.
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Noosa tops the hot property gains list dominated by Sunshine Coast prestige costal addresses.
Real Estate Institute of Queensland CEO Antonia Mercorella said there was an "incredible" growth spurt of 53.6 per cent to prices over five years.
Ms Mercorella said Noosa easily maintained its position as the most expensive housing market in Queensland in the latest quarterly figures.
$8.2M noosa unit to createa wave of interest
Coast property sales records for 2020
"Noosa has clearly seen the biggest market gains when you consider its ushered in a median house price of $895,000 (a 3.6 per cent rise)," Ms Mercorella said.
"Noosa's quarterly median unit price was the category's top performer for the state as well, rising five per cent to $705,000.
"The Sunshine Coast property market continues to remain one of the prime spots in Australia, with quarterly growth of 1.8 per cent with a median house price now $620,000," she said.
The Coast also posted strong results with the second highest median unit price for the quarter of $445,000 with speculation this was being driven by a pandemic-triggered southern investment spree.
According to the Australian Property Investor website the Australian Bureau of Statistics reported Queensland had a net gain of more than 22,000 people in 2020, nearly double its 10-year average of 12,409.
Hotspotting property analyst Terry Ryder said house prices in and around Noosa for the past year were a standout, with Sunshine Beach up 33 per cent.
He said Yandina (median house price $730,000) has increased 30 per cent, Minyama was up 29 per cent with a median price of $1,190,000 and Sunrise Beach up 17 per cent.
Noosaville prices have risen 12 per cent, Moffat Beach (median price $910,000) increasing 12 per cent with Mooloolaba (median price $900,000) up 10 per cent.
Mr Ryder said the regional Queensland property market had performed at its strongest in the six years his company has been conducting quarterly surveys of sales activity.
"There are seven regional cities with five or more suburbs with forward momentum in sales activity: the Sunshine Coast, the Gold Coast, Toowoomba, Mackay, Rockhampton, Gladstone and Townsville," Mr Ryder said.
He said two exceptions to this upward trend were Cairns and the Fraser Coast.
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