Sunshine Coast Property Market – Best Annual Performer!

The Real Estate Institute of Queensland (REIQ) just released its Quarterly Market report (June 2018), and interestingly, for the first time, the Sunshine Coast residential property market SD has overtaken the Gold Coast to claim the title of best annual performer.  The Sunshine Coast Statistical Division (SD) includes the Sunshine Coast LGA (Local Government Area) and Noosa Shire.

Quick snapshot:

  • Houses up 6.4% for the year – Sunshine Coast SD
  • Units up 4.9% over the year – Sunshine Coast SD
  • Rental market is tight with 2% vacancy – Sunshine Coast SD
  • In a list of suburbs Sunshine Coast SD, with the longest average hold period for all houses Yaroomba came in at number 4 – 14.1 years; the other four suburbs were all in Caloundra
  • 12 houses & 13 units have been sold this quarter in Mount Coolum
  • The annual growth in house prices in Mount Coolum is 21.9%, and 9.2% for unit/townhouses
  • The average rent in June 2018 for a 3 bedroom home in Mount Coolum is $475 per week
  • The average rent in June 2018 for a 2 bedroom unit in Mount Coolum is $370 per week, and $460 for a 3 bedroom townhouse.

Whilst the market is performing well, and the future prognosis is positive, the REIQ stress that the future of the property market is dependent on the regional economy and employment market growing at least at the same pace as population growth.

For a full copy of the report contact our office.