Market Update – Sunshine Coast

Market update - Sunshine Coast

The Sunshine Coast is booming with development. From the Sunshine Coast light rail project and the New Maroochydore CBD all the way through to the airport expansion, the Sunshine coast is one of the hottest property markets right now.

The Sunshine Coast is the ninth largest urban mass on the Australian Continent with 550,000 residents predicted to populate the Sunshine Coast by 2040.

The Property Market

New developments on the Sunshine Coast make the growing region a hotspot for investors. The demand on the Sunshine Coast stems from the demand for coastal living in Queensland as well as being a hotspot for tourism.

Below are some statistics for some of the Sunshine Coasts hotspots for investors in 2019 according to openagent.com.au

Coolum Beach
Median house price: $675,500
Percentage increase for median house prices over the last 12 months: 6.59%
Rental yield for houses: 3.9%
Rental yield for units: 4.6%

Caloundra
Median house price: $555,000
Percentage increase for median house prices over the last 12 months: 4.07%
Rental yield for houses: 4.3%
Rental yield for units: 5.1%

Mountain Creek
Median house price: $638,000
Percentage increase for median house prices over the last 12 months: 7%
Rental yield for houses: 4.1%
Rental yield for units: 5.1%

Peachester
Median house price: $565,000
Percentage increase for median house prices over the last 12 months: 16%
Rental yield for houses: 4.1%
Rental yield for units: 5.2%

Buderim
Median house price: $665,000
Percentage increase for median house prices over the last 12 months: 4.89%
Rental yield for houses: 4.2%
Rental yield for units: 5%

What developments can you expect to see?

The New Maroochydore CBD
The New Maroochydore CBD is the main development currently underway on the Sunshine Coast.

Maroochydore on the Sunshine Coast is being regarded as Queensland’s up and coming new business hub. A 53-hectare greenfield site is being transformed into a Central Business District. The site was bought by the Sunshine Cost Council in 2015 for $42 million.

Despite the holiday appeal of Maroochydore, 80% of residents live here all year round.

The Maroochydore City Centre is a growing opportunity for investors and developers.

Sunshine Coast Light Rail Project
The Sunshine Coast Light rail project is being undertaken by Sunshine Coast Regional Council in an attempt to increase the share of public transport by 2031 from 3.6% to 10% of all journeys.

The development will generate approximately 9,000 jobs during construction adding $3.6bn back into the economy.

Airport Expansion
The expansion of the Sunshine Coast Airport runway will generate demand for new hotel developments in the fast-growing region.

The project will allow direct flights to more destinations in Australia as well as Asia and the Western Pacific. It is estimated that the project will be completed by the end of 2020.

Are You A Developer on The Sunshine Coast?
If you’re a developer on the Sunshine Coast click here to contact SSKB Developer Consultancy. We have decades of experience managing Body Corporate and Owners Corporation developments across the east coast of Australia.

Talk to our team today to discover how SSKB Developer Consultancy can minimise developer risk and increase profit margins.