8 months ago


the past five years. The

the past five years. The annual median unit price in the Sunshine Coast LGA also increased over the medium term from $335,000 in June 2012 to $387,500 in June 2017. Queensland, with vacancy rates below 2.5 per cent. The Sunshine Coast SD’s vacancy rates tightened over the June quarter, from 2 per cent in March to 1.5 per cent in June. The most expensive suburbs for units were: • Sunshine Beach ($640,000) • Noosa Heads ($630,000) • Twin Waters ($567,000) Similar to the house market, unit sales contracted over the March quarter in both locations, the Sunshine Coast LGA and Noosa. The volume of sales fell from 1206 in December to 1109 in March. Preliminary data for June revealed a continuation of the downward trend. However, it will be reassessed in the September quarter. The supply of units in the Sunshine Coast SD increased 6.4 for the 12 months to May 2017. This is not a concern as listing volumes for the Sunshine Coast SD fell 12.9 per cent from February to May this year, revealing a seasonal supply increase rather than a sustainable increase. Similar to the house market, the market trend indicators showed characteristics of increasing demand. Days on market fell from 68 to 59 days for the 12 months to May 2017. Vendor discounting reduced 0.7 percentage points, to 3.9 per cent in May 2017. The Sunshine Coast LGA has the shortest days on market in the statistical division, with 57 and the smallest discounting of 3.9 per cent. For a third consecutive quarter, Maroochydore was the tightest rental market in Queensland, reaching a vacancy rate of 1 per cent for June 2017. Local agents highlighted the lack of rental listings in the region as a contributor to low vacancies. The weekly median rent in the Sunshine Coast LGA held steady for three-bedroom houses and three-bedroom townhouses at $440 and $420 over the June quarter. On an annual basis, the weekly median rent for three-bedroom houses, two-bedroom units and three-bedroom townhouses increased from 2 to 6 percent. The rent for two-bedroom units achieved the largest increase of $20 a week or 5.9 per cent for the past 12 months. Noosa vacancies returned to the healthy range this quarter, reducing 1 percentage point from 4 per cent in March to 3 per cent in June. Noosa remained as the most-expensive region for three bedroom townhouses in Queensland. The weekly median rent for this type of dwelling increased 10 per cent for the past 12 months, from $500 a week in June 2016 to $550 a week in June 2017. c. RENTAL MARKET Over the past 4 1/2 years, the Sunshine Coast SD rental market has outperformed the rest of

Suburb Median Sale Price Rise in Median Price (%) BUDDINA $750,000 18.9% FOREST GLEN $642,500 16.8% MERIDAN $525,000 14.2% PLAINS NOOSA HEADS $895,000 13.7% WARANA $650,000 12.9% MOFFAT BEACH $747,500 12.8% MOOLOOLAH $510,00 12.7% VALLEY 0 MARCOOLA $585,000 12.5% COOLUM BEACH $625,000 12.2% GOLDEN BEACH $570,000 12.2% COORAN $397,000 11.8% BATTERY HILL $520,000 11.5% DOONAN $785,000 10.6% SUNSHINE BEACH $1,160,000 10.0% How are Queensland prices expected to change in 2017 Looking ahead, John McLeod, who sells property in and around Bulimba for the Harcourts group, believes property prices in Brisbane will stay fairly stagnant. “Growth will be steady for houses… If I was an investor, I’d be buying houses and land packages on a lower return, but on better capital growth. When it comes to selling an investment property, I have always found that property within the 10km radius to the Brisbane city centre holds its value very well. Suburb in this radius also includes Fortitude Valley and New Farm. Christopher also believes houses will outperform units in Brisbane in 2017. With the pickup in employment levels, he says Brisbane’s market could improve although the surplus in units may keep a lid on the rest of the market. The Gold Coast He says the Gold Coast will continue to outperform the Sunshine Coast for the year ahead, and that both areas will outperform Brisbane. The Australian Housing Outlook 2016–2019 forecasts further (although more moderate) price growth of around 8 per cent over the three years to June 2019 for the Gold Coast as new dwelling construction rises from long-term lows. That said, the unit price growth may be dampened by the 1,200 apartments that will eventually find their way onto the market after the Commonwealth Games in 2018. The Sunshine Coast The Sunshine Coast also looks promising. The BIS Shrapnel/QBE report says it is expected to benefit from its relatively better affordability compared to Melbourne, Brisbane and Sydney, attracting empty nesters and retirees from these cities. It forecasts that median house price will grow an aggregate 7 per cent in the three years to June 2019, to $575,000. “The rate of price growth is expected to progressively slow in this period in line with slowing price growth in Sydney and Melbourne,” it says. Townsville It adds that Townsville’s median prices are likely to continue to decline until local economic conditions improve – most likely towards the

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