Sunshine Coast's older areas score on desirability due to location: HTW

Queensland's Sunshine Coast is relatively young compared with other areas of the country, and staying ahead of the gentrification curve can prove profitable to property investors, according to valuation firm Herron Todd White.

The property consulting firm's property clock for March dealt with gentrification trends across Australia, identifying the hot spots.

In the Sunshine Coast, the older areas are typically found around the original council centres of Caloundra to the south, Maroochy to the centre and Noosa to the north. The main driver of gentrification is generally that these older areas are well located to amenities and close to the beach, thus creating demand for these locations as desirable places to live. 

In the old Caloundra Shire, the areas around Moffat Headland have always been popular. These areas have accelerated over recent years with a number of renovations or re-builds being undertaken. Being close to the beach and the village atmosphere really helps this area along. Remaining with the close to the beach theme, areas around Golden Beach to the south of the town centre and the Kawana strip to the north are seeing 30 to 50 year-old-housing being upgraded. 

The median price of houses in Caloundra was $444,000 according to RP Data. For units, it was $370,000.

In Maroochydore in the old Maroochy Shire, areas around the current and proposed town centres are in demand. Typically these are 1970s and 1980s vintage houses with the entry level being circa $400,000. Throw some dollars and nice design features at it and $500,000 should be achievable. Other areas of Alexandra Headland, Mooloolaba and Cotton Tree down on the coast and Buderim up on the hill have been going through this gentrification process over a number of years. 

Up north in the Noosa Shire the areas in Old Tewantin near the river and town centre and also Noosa Junction are seeing a significant number of renos and rebuilds, once again, in areas close to shops and cafes and the beach or river. 

One example in Old Tewantin is a property purchased for around $400,000. The owners undertook a sharp renovation and were able to achieve circa $575,000 - a great result. 

The type of gentrification has been restricted mainly to housing but there is a rise in duplexes and small lot housing which have really started to appeal to the lock and leave crowd who would rather travel then have to look after a big yard. 

Property Observer tracked down a two-bedroom unit at 16/41 Canberra Terrace, Caloundra, Qld 4551 (above) that recently sold for $375,000, around the median price.