HOT PROPERTY: The suburb breaking sale records
Multi-million dollar sales, booming development and a competitive Sunshine Coast house market is outshining the metropolitan centres.
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MULTI-million dollar sales, booming development and a competitive Sunshine Coast house market is outshining the metropolitan centres with latest property data revealing the region is ready for new growth.
According to the latest quarterly Real Estate Industry Queensland report, the Coast soared ahead of other areas in land and house values as some agents scored a record number of sales in the months after the election.
McGrath Buderim principal Chris Pace said his two agencies made $1 million a day in sales over a record-breaking June as interstate buyers flooded their phones with enquiries.
Of more than 4000 homes sold in the past year, 464 were sold in Buderim- more than double any suburb on the Coast.
Nambour trailed at 201 sales, Mountain Creek recorded 189 sales while the rest of the Coast slumped 14.3 per cent.
Mr Pace said the suburb's diversity made it appealing to buyers.
"Buderim historically has always been a very highly performing suburb and the attraction is definitely the lifestyle and community feel,” he said.
"In the last two or four weeks though we have had an abundance of enquiries from people as south as Melbourne for the good price.”
Mr Pace said families were attracted to the area for first-class schooling and proximity to the university.
The average house price in the Sunshine Coast was flat at $585,000 over the quarter but posted growth of 3.5 per cent over the year ending March.
The report said the expansion of public transport on the Sunshine Coast and the new Maroochydore city centre were set to transform the region.
While the median price remained level, parts of the Coast recorded a huge increase including a 20 per cent jump at Glasshouse Mountains, 17 per cent growth at Alexandra Headland and 16 per cent growth at Wurtulla.
Glasshouse Property Sales principal Kelvin Brady said the liveability of the hinterland drew new buyers.
"People like the country atmosphere and it's still only 25 minutes down to the beach or shops... proximity is the key,” he said.
Larger blocks were also a draw card which was mirrored in a 8.5 per cent jump in vacant land prices across the Coast- the strongest performance in the state.
LUXURY UNITS STANDING OUT
SUNSHINE Coast's prestige units remain hot property with thousands going under the hammer while retaining good prices.
The region shines among the top three best unit performers in Queensland with an average price of $410,000 over the past quarter, according to REIQ.
Despite unit sales slumping 24.6 per cent and prices staying level, it remained in demand compared to Brisbane that recorded a paltry unit price change of 2 per cent.
Peregian Springs recorded the highest growth in the last year at a staggering 19.7 per cent increase, while Twin Waters was close behind on 14.5 per cent.
LJ Hooker Peregian agent Ted Schmike said he made more unit sales on the beachside than in the estates, but agreed there had been an increase.
Despite not recording a major growth, Maroochydore agents sold more than 400 units in the past year at an average price of $430,000.
Ray White Maroochydore director Dan Sowden said with more than 700 luxury units in construction, the figures were bound to jump.
"As you drive through Maroochydore you see so many cranes and developments in the air which only means more residential buildings,” he said.
"These units, while more than half are already sold, will soon be completed and we expect those figures to rise even more.”
People looking to downsize from areas like Buderim were Mr Sowden's main buyers, with Mooloolaba also recording a 0.8 per cent growth to 128 units sold in the past year.
HOW DOES YOUR SUBURB RATE?
(annual change for house sales market)
- Alexandra Headland- 17.9 per cent
- Buderim- 9.6 per cent
- Buddina- 6.2 per cent
- Caloundra- 5.6 per cent
- Coolum- 1.3 per cent
- Glass House Mountains- 20.4 per cent
- Landsborough- 1.2 per cent
- Maleny- 10.6 per cent
- Maroochydore- 7.8 per cent
- Mooloolaba- 9.5 per cent
- Mudjimba- 2.1 per cent
- Nambour- 3.6 per cent
- Parrearra- 11.8 per cent
- Pelican Waters - -0.1 per cent
- Peregian Springs- 2.8 per cent
- Sippy Downs- 2.2 per cent
- Twin Waters- 15.4 per cent
- Woombye- 15.9 per cent
- Wurtulla- 16.5 per cent
Originally published as HOT PROPERTY: The suburb breaking sale records
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