Market Update – Herron, Todd and White

Thanks to the team at Sunshine Coast Herron, Todd and White on the latest market update for the Sunshine Coast.

The residential property market has been performing quite well across the different property types. We have noted a fall in the volume of sales but the reason for this has been the limited stock available.

The spring fever in the property market is plugged as the best time to sell your home which is a viewpoint that has been inherited from the southern markets of Melbourne and Sydney. You can understand why given that they begin to defrost after suffering through another winter where the weather is less than ideal. Given that the Sunshine Coast is a growing region, the busy periods tend to be later in the year moving towards the summer months. People are on the move after the school year and others have that psychological end of year, New Year’s resolution view that they are going to make the move. These factors combined with the holiday makers being  everywhere experiencing what the Coast has to offer also helps to widen the market place.

There are some elements that could make the market very interesting over the upcoming summer period.There is an expectation that stock levels will rise over the coming months. It will be interesting to see if the momentum we had last summer is replicated this year.

One aspect that we are already seeing having an adverse effect is the tightening credit policies and procedures brought about by the Banking Royal Commission? It has been tougher to get loans through and contracts have fallen over because of finance.

Infrastructure projects such as the new Maroochydore CBD, Sunshine Coast Airport expansion and works to the Bruce Highway are all great with the big game changer being the Sunshine Coast International Broadband Submarine Cable project which is still to be announced.The next 12 months, like the last, will be interesting to say the least.

HERRON TODD & WHITE

Suite 305, Tower 2, Level 3,
Kon – Tiki Business Centre, 55 Plaza Parade, Maroochydore, QLD, 4558
PO Box 224, Mooloolaba, QLD, 4557

T 07 5444 7277