Suburb breakdown: How 2020 changed Coast house prices

Rock bottom interest rates and a yearning to escape the city increased property demand to a level never seen before by many experienced real estate agents.

Open homes attracting crowds so large they had to be split into groups was a clear sign the Sunshine Coast market would be tough to get into for Matilda and Daniel Coles.

Rock bottom interest rates and a yearning to escape the city increased property demand last year to a level never seen before by many experienced real estate agents.

New data shows the Sunshine Coast's median house price increased by 7.8 per cent last year but the increase to some individual suburbs was unprecedented.

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Montville's median price surged by 39.1 per cent to $925,000, according to realestate.com analysis, as buyers splashed cash on space, climate and community.

Mr and Mrs Coles said they were glad they purchased a home in September last year before the market became any tighter.

"I think the market has changed a lot within six months, we were quite lucky we bought when we did," Mrs Coles said.

Daniel and Matilda Coles, pictured with three-year-old daughter Lennon, purchased a family home in Maroochydore in September last year.

"There was one particular house inspection where there were so many people they had to take people through in separate groups.

"It was daunting knowing we'd be up against so many other people."

With their family growing from three to four this year Mrs Coles said it was important they found a low maintenance home.

They wanted to buy in Maroochydore to live close to work.

Maroochydore's median house price jumped by 8 per cent to $691,000, compared to the year prior, and Mooloolaba and Buderim increased by 11.9 per cent.

Mrs Coles said Ray White Maroochydore sales agent Rowan Woodbine organised a private inspection of the home they eventually bought at Valencia St.

"This is our forever home and that's what we were looking for," Mrs Coles said.

The Coast experienced a surge in interstate arrivals last year but Ray White Maroochydore director Dan Sowden said most sales were to locals or Brisbane residents.

Ray White Maroochydore principal and auctioneer Dan Sowden said most Coast home buyers were locals or from Brisbane.

The agency's December results showed 18 per cent of sales were to interstate buyers, 11 per cent to Brisbane and the balance to Coast locals.

Provisional internal migration data from the Australian Bureau of Statistics shows the nation's capital cities had a net loss of 11,200 people during July, August and September last year.

That was the largest quarterly net loss since records began in 2001.

"The borders opening did fuel migration but what we also saw was significant tenant demand for rental properties," he said.

"A lot of tenant applications are from those who moved from down south … but their plan is not to rent but to purchase this year."

Marcoola's median house price increase of 25.9 per cent to $749,000 was no surprise to North Shore Realty director Keith Blanchard.

Mr Blanchard said demand was higher than he'd seen it in his 25 years in the industry.

More people working from home was one reason he cited for the spike along with two per cent interest rates.

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Mr Blanchard said that last year it became the norm for 30 groups - or about 90 people - to show up to an open home.

"In the previous market the busiest open homes would have about 10 groups, or 30 people," he said.

Ben Thompson and Keith Blanchard of North Shore Realty on site of $8 million 9 unit apartment site in Sunrise Ave, Coolum Beach. Picture: Patrick Woods.

But it did not mean the agency was busier than usual with low supply an ongoing issue.

It's believed JobKeeper and mortgage holidays prevented a wave of distressed selling through the worst of the pandemic.

"From an agency point of view we went from having 10 sales people and 120 listings down to about 20 listings," Mr Blanchard said.

Hinterland suburbs experienced a huge rise in prices with Montville leading the surge with a spike of 39.1 per cent to $925,000.

West Woombye's median prices went up by 33.6 per cent to $801,500 and Maleny 25 per cent to $740,000.

Remax Hinterland owner Mark Clayton said climate, space and community attracted buyers inland.

He said homes in northern and eastern Maleny were hot property and interest in Wootha and Witta had increased significantly.
"We've had that time to reflect and now I think some people have had a yearning to get back to a smaller community similar to what they've experienced before," he said.

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