Where the hot property will be in the future

FUTURE SUNSHINE COAST: Sought-after locations to keep prices at a premium into the future.

VISION: Ray White Mooloolaba and Kawana director and auctioneer James Goldsworthy. Picture: Contributed

THE Sunshine Coast property market has long been a pillar of the region's economy, with our sought-after locations keeping property prices at a premium.

With hundreds-of-thousands of extra residents set to move into the region over the next few decades, the property industry is set to remain highly active.

Intra and interstate migration to the Coast remains high and the region continues to buck trends in other major centres.

Building approvals are down around the state, meaning upward pressure is being applied to property prices.

The Coast recorded 6.3 per cent growth in median house prices at the end of 2018, which Real Estate Institute of Queensland CEO Antonia Mercorella said was testament to the region's enviable lifestyle.

Ray White Mooloolaba and Kawana director and auctioneer James Goldsworthy said agents had an important role in promoting the region and championing the community.

He said the real estate industry had a big impact within the local community.

Ray White employed 126 people, some as young as 16-25 years old, across its eight local offices.

"From a purely real estate standpoint, agents are often at the frontline of community engagement regarding developments, in both a positive and negative way,” Mr Goldsworthy said.

"We hear what the locals have to say, what the buyers are looking for and what the community hope and wish for moving forward, providing invaluable feedback to all stakeholders.”

Mr Goldsworthy said within the industry, there was plenty of talk about disruption coming and the effect technology would have.

He could only see positives coming from any technological advances which improved customer service.

"There is no doubt that the expectations of consumers has risen dramatically over recent decades,” he said.

"Many of our customers desire instantaneous recognition and response and the peer review world has assured that those businesses not delivering a high level of service are at best left behind.

"I see technology continuing to provide the industry with tools to assist and improve in the delivery of their services.”

He also saw the role of real estate agents changing, as they offered a greater suite of services than the traditional pillars of selling, buying and renting.

"All our offices have dedicated finance brokers in-house to assist buyers, sellers and landlords secure the best outcome from their loans,” he said.

"Moving forward, I see an agency offering a much greater spread of services.”

In terms of challenges facing the industry over the next 30 years, Mr Goldsworthy said the greatest would continue to be delivering what consumers wanted, when they wanted it.

"This goes for all in the industry, from developers, planners and agents,” he said.

"Being ahead of the game in what consumers want. Is it high density, small-lot developments or will we move back to the 700sq m blocks?

"Trends do change and as such, one of the big hurdles will be delivering what the consumers want.”

He said speed on inquiries and delivering suburbs with transport, schools, shops, open space and a community village feel would also be vital.

Mr Goldsworthy said buyer trends would continue to be driven by lifestyle considerations over the next three decades.

"The rise of small-lot housing, in my opinion, is due to consumer demand, not developer greed,” he said.

He said affordable housing was sought after by both investors and owner-occupiers and many were seeking low-maintenance properties.

"Over the next 30 years, though, I think there will be a continuing trend towards catering for high-quality units/villas, which offer a low-maintenance lifestyle,” he said.

"As the Coast continues to grow, often in an outward manner away from the coast, I believe that those suburbs within a 10-15 minute proximity to the beach will become highly desirable, especially to those relocating to the Sunshine Coast from major centres.

"There is no doubt that the current status quo of desirability for beachside or waterfront properties will remain high.”

He expected technology would help with speed and transparency for the consumer in future, but he believed in large, most parts of the buying and selling process would remain unchanged.

"Sellers will always want someone to represent them in negotiations on their largest asset,” he said.

"Buyers will always seek out agents' opinions and suggestions in finding their dream home.”

Originally published as Where the hot property will be in the future