7 months ago


Analysis of region’s

Analysis of region’s market over the past 12- months revealed 14 suburbs where housing achieved capital gains of 10 per cent or better, with Buddina, Forest Glen, Meridan Plains and Noosa Heads all breaking the 13 per cent barrier.Property research company Hotspotting released their quarterly National Top 10 Best Buys report and named the Sunshine Coast as a real estate winner. Hotspotting also chose the region as its National Growth Star in their most recent PricePredictor Index report which studies sale volumes across Australia. Sunshine coast market monitor (Last year, 2017 ) The unit market also contracted in the June quarter, falling 4.9 per cent, from $410,000 in March to $390,000 in June. Despite the quarterly contractions, the Sunshine Coast SD is one of the top performers in the Queensland market for the past year and the past five years. Noosa continued leading the residential property market in the Sunshine Coast SD. Based on the annual median sale price, Noosa has become the second-most expensive house and land market (after Brisbane LGA) and the most expensive unit market in Queensland. The annual median house and unit prices were $645,000 and $479,000 in the 12 months to June 2017. According to the State Budget Regional Plan for the Sunshine Coast SD, the allocated funding for infrastructure projects is about $240 million for FY2018. About half of the investment will fund the Bruce Highway Upgrade – Caloundra Road to Sunshine Motorway project. Acknowledging the expansion of the region, the State Government has committed $10 million funding assistance to the private sector to construct a sewer pump station, rising main and trunk gravity main to connect the Palmview development area to the Kawana sewerage treatment plant. This will facilitate development of dwellings and increase housing supply in the region. Building Queensland is currently assessing the viability of three large infrastructure projects: • The $780 million Beerburrum to Nambour Rail upgrade is ready for government investment consideration. It is expected to deliver a more integrated transport system with increased capacity and travel time savings for freight and passenger services. • The $80 million Lake Macdonald Dam Safety upgrade is currently under detailed business case analysis and has the goal to upgrade the dam to meet modern standards and improve performance. • The $430 million Sunshine Motorway – Mooloolah River Interchange is currently under preliminary business case analysis. It has the goal to deliver improved safety and capacity in the vicinity of the Mooloolah River Interchange at the Sunshine Motorway. The implementation of these projects will potentially inject nearly $1.3 billion into the economy over the coming years. This investment is a response to the increasing population in the region. According to the ABS, Noosa and Sunshine Coast LGA added more than 72,680 residents for the past decade to June 2016. The rental market is the strongest in Queensland with high demand of rental properties and very low vacancy rates. Similarly, the outlook of the sales market is positive and supported by economic fundamentals such as

population growth. Prospects for the Sunshine Coast’s residential property market are positive and supported by a broad plank of infrastructure and development projects. The job market in the Sunshine Coast S4 region is also performing reasonably well with unemployment dropping to 5 per cent in June, below the state average of 6.5 per cent and the national average of 5.6 per cent. a. HOUSE MARKET The annual median house price for the Sunshine Coast SD grew 6.2 per cent, from $518,000 to $550,000 in the 12 months to June. This compares with the five-year growth in the median sale price of 27.9 per cent, from $430,000 in June 2012. The median sale price of the Sunshine Coast LGA and Noosa increased 5.9 per cent and 12.2 per cent over the past 12 months. This increase positioned Noosa as the top performing market in the Queensland Market Monitor. Noosa was also the best-performer for the past five years, with the median sale price increasing 34.4 per cent, from $480,000 in June 2012 to $645,000 in June 2017. Based on the annual median sale price, the three most expensive suburbs were: • Sunshine Beach ($1,200,000) • Alexandra Headland ($960,000) • Noosa Heads ($925,000) The three most affordable suburbs were: • Nambour ($370,000) • Landsborough ($381,500) • Coes Creek ($405,000) The volume of sales over the March quarter fell in the Sunshine Coast LGA and Noosa. Preliminary data for June also shows a fall in the volume of sales. This trend will be reviewed in the September 2017 QMM. The most popular sale price for houses throughout the Sunshine Coast SD sat between $500,000 and $750,000. Market trend indicators for the Sunshine Coast SD showed characteristics of a market favouring vendors, with falling supply and increasing demand. The Sunshine Coast LGA is one of the only four LGAs reporting a fall in listings volumes for the 12 months to May 2017. It also reported the second-smallest vendor discount (3.7 per cent) of the areas analysed in the Queensland Market Monitor. A house in the Sunshine Coast SD needed about 46 days to reach a sale in May 2017 compared with 54 days in May last year. Medium vendor discounting showed a similar trend, with the discount falling from 4.4 per cent to 3.9 per cent for the 12 months to May. b. UNIT MARKET Similar to other regions in Queensland, the unit market throughout the Sunshine Coast SD fell over the June quarter by 4.9 per cent, from $410,000 in March to $390,000 in June. The quarterly median sale price in Noosa also fell 15 per cent, from $499,900 in March to $425,000 in June. Despite the fall, the annual median sale price increased 3 per cent, to $479,000, becoming the most expensive unit market in the QMM. Over the medium term, the Noosa annual median unit price increased 17.8 per cent, from $406,500 in June 2012. This positioned Noosa as the best performer in the unit market over

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