Half Yearly Market Update

2019 has been an interesting year with a range of economic events impacting on the property market. In general, the Sunshine Coast has performed well especially in the areas with limited stock available. The beachside areas, as always, have been performing well with supply remaining generally tight and values picking up. The coastal strip in the sub-$800,000 price range is expected to continue to be in demand however it is becoming increasingly difficult to find good quality homes under this level. Units in these areas are a little difficult to gauge. The larger permanent occupancy style product has become increasingly popular with empty nesters. The prestige market has had an uptick also right along the coast with the main focus continuing to be the northern coastal areas surrounding Noosa. Like other areas of the market, we experienced a little flat patch but this has certainly changed with supply being gobbled up and new value levels being hit.

At Coolum Beach Real Estate we experienced a strong Spring selling period and an even stronger finish to the year with high inquiry levels and contracts being negotiated right through the Christmas New Year period. We sold 52 properties, ranging from entry level apartments to quality homes. Our highest sale price was $1,350,000 for a property bordering Birrahl Park in Yaroomba.

Looking forward, the infrastructure projects underway continue to be a great talking point for the region. The Maroochydore CBD, Sunshine Coast Airport expansion and the Sunshine Coast International Broadband Submarine Cable project are all under construction and all massive for the area. Add to these new projects such as the recent announcement that the Sunshine Coast will get Australia’s first Kelly Slater Wave Company wave pool and the news just keeps getting better.

How this is affecting the coast can be seen from the latest population figures where the Sunshine Coast is the fastest growing region in south-east Queensland. All in all, 2019 has ended pretty well. It is pretty clear that elections, election results and the uncertainty created by them can have a significant impact on the market. 2020 is set down for both local and state elections so we will probably see some slow down and we can deal with that. As long as we don’t see any major shocks to the global economy, we should go pretty well.

View the full report here Half Yearly Market Update