Buoyant Property Market

The local and national media has been recently reporting about the buoyancy of regional property markets amidst the COVID19 pandemic, highlighting the Sunshine Coast as one of the most popular markets, particularly for buyers from Sydney and Melbourne.

This month the Australian Bureau of Statistics reported a significant shift of people moving from capital cities to the regions including a net loss of 14,000 in Sydney in the first half of the year.

Senior Reporter for the Sun-Herald newspaper Caitlin Fitzsimmons reports that “Sydneysiders are moving to the Sunshine Coast in droves as COVID-19 inspires sea changes with families prepared to spend two weeks in quarantine and buy or rent houses sight unseen.”

She attributes this to factors including warm weather, relaxed lifestyle, and relatively affordable housing in comparison to Sydney, alongside the increase in the popularity and viability for remote working from home.

This trend has put pressure on the Sunshine Coast housing market with rental vacancies falling to their lowest level in years, and many schools reportedly at capacity.

“COVID-19 has made people realise that they can work effectively remotely, and they’ve reassessed what they want their lifestyle to be…it’s been a catalyst for change.”

Agents, particularly in the coastal strip, have been overwhelmed by the level of enquiry for rental and sale properties. Many were bracing for a quiet market during the pandemic, but the opposite has happened…a testament to the resilience of this market to perform well across even the most challenging of conditions.

Here at Wright Place we have certainly noticed the surge in enquiry and our challenge is securing stock to meet demand.  This is undoubtedly a seller’s market, and the momentum has showed no signs of slowing in the lead-up to Christmas.

If you are seeking an investment property, now is also a great time to buy with rental demand at unprecedented levels.

Whether buying or selling, talk to us.  We would love to assist and are your Mount Coolum specialists.