Rapid rise in growth for the Sunshine Coast

THE Sunshine Coast is changing. It's in a state of transformation as it moves from its beach culture to one of Australia's most sustainable communities.

THE Sunshine Coast is changing. It is in a state of transformation as it moves from its widely recognised beach culture to one of Australia's most sustainable communities.

• Find out more about the Coast's growth, investment opportunities, suburb profiles, and all things real estate in the Daily's Sold On guide, in Friday's paper.

The years of planning are paying off as major infrastructure projects are coming to reality, all the while retaining its reputation as a highly liveable community.

Instead of the string of fishing villages that dotted the glorious stretch of coastline, is now the ninth largest Significant Urban Area in Australia by population.

The Sunshine Coast economy is one of the largest regional economies in Australia and is predicted to grow in a strong and sustainable pattern over the next 20 years to reach $33billion in 2033. This will be accompanied by an increase in high-value employment, export and household income.

A 10.1% growth in population was experienced over a five-year period (2008-2013), which was higher than the national growth rate of 8.7% over the same period.

It is forecast to have the second highest growth rate of major Queensland sub-state regions between 2011 and 2036 (Queensland Government Population Projections, 2013).

The focus continues to be development in harmony with the environment and to encourage blue-sky industries: education, health and well-being, technology and niche markets for primary industries in agriculture and horticulture.

With the current population of 298,000 projected to grow to 470,000 by 2036, it will provide an ever-expanding local workforce to meet the needs of new business and industry as new investment takes place.

Rentals on the Sunshine Coast remain tight at 1.2%, which means tenants will continue to find it challenging to secure rental accommodation.

For a third consecutive quarter, Maroochydore was the tightest rental market in Queensland, reaching a vacancy rate of 1% for June 2017.

The transformation of the region has been taking place for years but became tangible since completion of the $1.8b Sunshine Coast University Hospital at Birtinya this year.

This has been the catalyst for a ripple effect spreading from the Kawana Health Hub precinct that includes Stockland's Oceanside development.

The health precinct is forecast to generate $5.3b in direct expenditure and 12,000 jobs upon completion.

Birtinya town centre is no longer a concept, with site works under way while Stockland's neighbouring Bokarina Beach residential community is under construction.

The new 53ha greenfield site for the Central Business District in Maroochydore (SunCentral) will be the commercial, civic and entertainment heart.

It is less than 200m from Lendlease's Sunshine Plaza shopping centre which is currently being upgraded at a cost of $350m and will add a David Jones, 120 speciality shops and 1500 car parks.

Expansion of the University of the Sunshine Coast will cater for a larger student population and meet workforce demand generated by such projects.

Development of the $5b Caloundra South (Aura) project will deliver a community of about 50,000 people.

Now AVID Property Group has started the $3b master-planned Harmony to be developed over the next 20 years at Palmview, with 4800 dwellings on 378ha and its own town centre.

The $347m expansion of the Sunshine Coast Airport is to provide an international gateway to the region is in its final stages of planning, and scheduled to be ready for operation in 2020.

Originally published as Rapid rise in growth for the Sunshine Coast