STAND aside Brisbane and Gold Coast, there’s a new boom market in town.
Experts predict Sunshine Coast real estate prices will skyrocket on the back of rising infrastructure spending, industry growth, jobs and lifestyle.
Analysis of region’s market over the past 12-months revealed 14 suburbs where housing achieved capital gains of 10 per cent or better, with Buddina, Forest Glen, Meridan Plains and Noosa Heads all breaking the 13 per cent barrier.
Property research company Hotspotting released their quarterly National Top 10 Best Buys report and named the Sunshine Coast as a real estate winner.
Hotspotting also chose the region as its National Growth Star in their most recent Price
Predictor Index report which studies sale volumes across Australia.
“While the Gold Coast has faded recently, the Sunshine Coast continues to rise,” the report said.
Hotspotting founder, Terry Ryder, said there are opportunities from Caloundra to Noosa.
“There are more growth suburbs on the Sunshine Coast than any other local government area in Australia,” Mr Ryder said.
Mr Ryder said the region has evolved beyond its tourism tag.
“It is transitioning to becoming a well-rounded regional economy and it is happening largely through infrastructure spending, some of which is creating new industries,” he said.
Mr Ryder said the Sunshine Coast University and the $2 billion University Hospital were examples of regional game-changers.
“We have this whole new industry now bringing lots of new people to the Sunshine Coast and many of them earning pretty good money so that is a big change to the economy,” he said.
Mr Ryder said the Kawana precinct between Maroochydore and Caloundra would see demand from both owner occupiers and tenants ramp up while the airport expansions and the Maroochydore CBD renewal had driven prices.
“If you add up all the projects, all the infrastructure projects and other developments, there is over $20 billion,” he said.
Hotspotting created a list of national top 50 suburbs set to deliver strong price growth in the near future and housing at Coolum Beach, Golden Beach and Noosaville made the cut.
Amber Werchon sales consultant, Stacey Downey, said suburbs around Kawana were running hot.
“It’s the strongest I have ever seen it in this particular area,” she said.
“It’s going to continue to rise, and rise quite substantially. People just want a change of lifestyle and, in the grand scheme of things, it’s very affordable in comparison to a lot of other areas,” she said.
Ms Downey said purchasers included first homebuyers, families and professionals, with locations around Caloundra no longer considered a ‘retiree zone’.
“A lot of older people who have held properties for a long time are now selling and moving on, which is allowing a whole new generation to come in,” she said.
Ms Downey said some of the strongest demand was for houses between $800,000 and $1 million, and units around $500,000 to $700,000.
Carlos and Belinda Zambrana will move their family from the Redcliffe peninsula to Warana in the next three years, but bought now to beat the price boom. The family have bought on the Sunshine Coast and are stoked to have got into this growth market. Pic Mark Cranitch.
The coupled paid $685,000 for their four-bedroom house, which is now tenanted.
Mr Zambrana said the area’s lifestyle was the main attraction.
“The end of the street is the start of the beach — so it’s a two minute walk,” he said.
“We love the Sunshine Coast — there’s so much there,” he said.
Mr Zambrana said recent value rises prompted him to buy sooner.
“I was looking (at homes) over the last two years and from when we started looking to when we actually bought, I reckon its cost over $100,000 in the time,” he said.
“My only regret is not buying earlier … and I think the area has got a lot of growth in over the next five years,” he said.
Top Sunshine Coast house price growth suburbs
Suburb — Median Sale Price — Rise in Median Price (%)
BUDDINA — $750,000 — 18.9%
FOREST GLEN — $642,500 — 16.8%
MERIDAN PLAINS — $525,000 — 14.2%
NOOSA HEADS — $895,000 — 13.7%
WARANA — $650,000 — 12.9%
MOFFAT BEACH — $747,500 — 12.8%
MOOLOOLAH VALLEY — $510,000 — 12.7%
MARCOOLA — $585,000 — 12.5%
COOLUM BEACH — $625,000 — 12.2%
GOLDEN BEACH — $570,000 — 12.2%
COORAN — $397,000 — 11.8%
BATTERY HILL — $520,000 — 11.5%
DOONAN — $785,000 — 10.6%
SUNSHINE BEACH — $1,160,000 — 10.0%
*Only suburbs with 30 or more sales in the period
All data is to 12 months to July 2017