2023 Market Wrap

Cara Lane |
December 22, 2023

Steve Lane Sales Manager Market Wrap

The Coolum Beach area has performed quite strongly in 2023 following on from strong growth in 2021 and 2022. In general, we have seen price increases of $50-75% over 2021 and 22.

The things that stand out for 2023 have been the increase in days on the market (moved up from 17.5 days last year to 35 this year for houses and 27 days to 50 days for units.
The number of listings has dropped significantly this year (from 264 down to 168 a decrease of 36%)

Limited stock on the market combined with the strong population growth has gone a long way to holding prices with the median house price of nearly $1.3m and unit price of $960,000

Reflecting on 2023, several factors underpinned the steady market Shortage of stock, lowest rental vacancy on record, slow down of new builds and population growth.

The volume of stock available for sale remained at persistently low levels while buyer demand also increased significantly, fuelled by a housing shortage and strong population growth.

Over the 12 months to March 2023, Australia’s population increased by 563,205 persons with many of these people living in SEQ. More up-to-date indicators from overseas arrivals and departures data show little evidence of a slowdown.