The Sunshine Coast has long been one of the most sought-after locations to invest in property or to live in all of Queensland. In fact, the area attracts investors and sea change seekers from all over the country. Even the recent strict Covid lockdowns in some of Australia’s cities has led to an exodus of people buying up the Sunshine Coast to escape those lockdowns at the time.
It’s fair to say that currently the Sunshine Coast property industry is experiencing a boom.
Property Development Is In Full Swing
Property development has been in fulls wing on the Sunshine Coast for some time now and many new estate developments are offering affordable entry points for people either wishing to relocate to the Sunshine Coast, or purchase investment properties in the region. Combined with low interest rates from the RBA, these new developments have been driving housing development activity, even in locations near the coast.
The area has also seen a surge in the construction of apartment blocks, offering investors and dwellers more affordable housing options if they are not in the market for a stand alone house in one of the new estates.
Residential dwellings are not alone when it comes to the building and property boom on the Sunshine Coast. With more and more people wishing to relocate to the area, this has led to an increase in the construction of commercial buildings as well, including those found in the sprawling new housing estates.
Some major new developments in the Sunshine Coast region are also driving the current property boom and look set to do so for some time. Four major developments of note are:
- Sunshine Coast Public University Hospital
- Maroochydore Principal Development Area
- Sunshine Coast Airport expansion
These new infrastructure developments are providing ample opportunities and benefits to the commercial property sector, as well as boosting housing development and sales, which is attracting both Australian and offshore investors. The new city centre at Maroochydore has a 240,000 sqm club commercial footprint and is also providing a 5 star hotel and more than two thousand residential dwellings.
The Sunshine Coast’s Prestige Property Market
Once upon a time the Sunshine Coast was a rather lazy and laid back area full of barefoot surfers and people seeking a peaceful and carefree lifestyle and somewhere to retire. Back in those days, while stunningly beautiful and picturesque, it was hardly a place to purchase prestige properties.
Of course, times have changed dramatically since then and today the Sunshine Coast boasts some of the most desired prestige properties in the most upmarket locations in all of Australia. Nine key suburbs in the region have now joined the Million Dollar Plus Club regarding median property prices. In 2021 one prestige Sunshine Coast property sold for a whopping $34 million.
Much of the push for prestige properties on the Sunshine Coast is coming from cashed up tech business gurus who are looking to splurge on homes in an upmarket area that’s not as congested or expensive as the inner city Sydney region or prime locations in areas of Melbourne.
Traditionally, much of the Sunshine Coast’s property buyers were well-funded retirees but now the market has been dominated by much younger wealth that is looking to tap into a new lifestyle in one of the country’s fastest growing locations.
Both the building industry and real estate industry are predicting that the current prestige property boom is only just the beginning and a mere taste of things to come. It’s a surge of buyer demand which is launching an unparalleled wave of property growth and demand.
What Else Is Attracting People To the Sunshine Coast Region?
The Sunshine has always been about lifestyle and quality of life. The area offers the best of both worlds, with fantastic beaches and vast stretches of coastline and only a relatively short drive inland takes you out into the beautiful Sunshine Coast Hinterland and Glasshouse Mountains. Geographically, it’s very similar to the Gold Coast in this way.
The area offers a lot in things to see and do and many things are also more affordable than in some of the capital cities. Across the entire Sunshine Coast and its new property developments, there are vast swatches of parkland, where families can enjoy the outdoors and nature in comfort and serenity.
While the region has been experiencing incredible growth, it has still managed to maintain that laid back and relaxed vibe and lifestyle; something that has always attracted both tourists and new arrivals looking for a change of pace and scenery.
The economy has always been strong and while tourism plays a major role, the Sunshine Coast doesn’t rely on tourism alone.
Is It a Good Time To Invest In a Sunshine Coast Property?
Just like its sister city the Gold Coast, the Sunshine Coast has always been a growth area and a location where people want to live. This obviously spells good news for property investors who are keen to derive a regular rental income from their investment properties.
Also, according to a report put out by QBE, it is predicted that house prices on the Sunshine Coast will rise by some 19% by mid-2024. It’s predicted property prices on the Sunshine Coast will even surpass those of Brisbane. In recent times, the Sunshine Coast ranked third in the entire country when it comes to property price increases.
For property investors, this could spell enticing capital gains if you were to buy now and sell in a few year’s time. This predicted increase in property prices also has the potential to see a healthy increase in rental revenue down the track.
The property boom is set to continue on the Sunshine Coast for the foreseeable future, so if you’re looking for an area that’s experiencing tremendous growth and offers some incredible and profitable investment opportunities, smart investors will seriously want to search for investment properties in key areas on the Sunshine Coast.
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