Sea change seekers setting sights on Sunshine Coast: HTW

Demand from Sydney and Melbourne residents looking for a sea change is one of the major impacts on the Sunshine Coast market, according to Herron Todd White’s (HTW) recent report.

The property valuation firm says that a leading indicator for interstate migration to the region is sentiment in the two largest capital city markets, particularly the higher end beachside and prestige hinterland properties.

These are attractive to retirees and sea change buyers making the move north, the firm says.

“Prestige beachside areas such as Noosa and Sunshine Beach are influenced by demand from southern buyers as are some prestige hinterland areas including Maleny and Doonan,” the report states.

“Employment levels also influence demand for local property and, generally speaking, when the tourism and construction industries are strong, the local residential market follows.”

 “The Sunshine Coast has always been a popular investment location for both dwelling and units alike, with many holiday let units owned by intra and interstate investors.

“Like most areas, any significant interest rate rises will likely impact many investors and we may see an increase in the supply of investor stock hit the market, which is what has happened in the past.

“This may also be a similar issue for some of the newer affordable estates which have a higher proportion of investment properties as opposed to owner-occupied stock.”

HTW also pinpoints the University Hospital as a primary influence on demand for property in the sub-$700,000 region.

“Land prices, as well as established housing, are continuing to increase with demand remaining strong.

“Currently, stock levels across the coast are low and we are seeing multiple offers becoming more common again.

“Units are also improving although not to the same extent as traditional housing.

“With a number of local infrastructure projects still to be delivered, we’re expecting another good year for the residential property market on the Sunshine Coast.”

Examples of recent sales in the area include a Parrearra two bedroom unit that sold for $395,000 (pictured below).

It was sold by Tanya Murphy from Stewart Property - Mooloolaba.

Located at 32/57 Grand Parade, the unit comes with two bedrooms, modern kitchen with stone benches, open plan living and two car parking.

The complex facilities include a large lagoon pool, outdoor spa, gym and BBQ areas.

It is 5.2 kilometre from the Sunshine Coast University Private Hospital and Sunshine Coast University Hospital, medical development and University of the Sunshine Coast.

Another new offering currently on the market is a Bli Bli three bedroom house with a price guide of $399,000 (pictured below). 

The 23 Conway Court house features open plan living and dining zone, three generous sized bedrooms, and kitchen with island bench.

It is conveniently located home offers an easy-care layout for effortless family living.

Set on a 731 square metre parcel, it's an easy stroll to Bli Bli school and moments to local shops.