Sunshine Coast population growth assists in underpinning property values: HTW residential
The Sunshine Coast property market is heavily reliant on population increases, according to the latest Herron Todd White (HTW) residential report.
The report suggests the Sunshine Coast has traditionally been one of the fastest growing regions in Australia.
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"When we then look at the volume of residential property sales taking place on the Sunshine Coast in recent years, the correlation between population growth and sale volumes can be seen," the valuation firm said.
"This graph shows that in 2003 when the population spiked, sale volumes were highest, then in 2011 when the growth rate bottomed out, sale volumes followed accordingly."
A two bedroom beachfront apartment in Caloundra has been sold for $450,000 (pictured below).
Located at 3/19 Bulcock Beach Esplanade, the apartment comes with two bedrooms, open plan living areas with balcony, kitchen and two secure garages.
It's close to the Caloundra CBD with just 200 metres from restaurants, cafés, and parks.
A four bedroom house with panoramic views in Maroochy River has been sold for $830,000.
The hilltop home at 18 Valdora Road (pictured below) comes with four bedrooms, open plan living area, gourmet kitchen and resort style pool.
Other features include BOSE surround sound system, alarm system and ample water storage.
"It’s pretty hard to say if any one area is attracting more out of towners than others" the valuation firm added.
"Most of our locations on the Coast seem to be having their fair share of new arrivals into their communities though it would be fair to say that suburbs along the coastline would be top of the list.
"Given the increased demand for housing, we mainly the upgrade to the Bruce Highway. Travel times have been lessened and the affordability in the area has made it very popular."
The inner rural residential ring around the township has increased in demand as have some of the character houses in town.
As a result, some new businesses have been opening up in a number of industries.
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The report notes the increase in population of the Sunshine Coast assists in underpinning property values. The issue then lies in jobs and infrastructure.
"It is good that the University Hospital is not at full capacity, the new airport runway is yet to be finished and we have a new town centre, however just driving around the Coast, you do feel that there are more and more people on the roads. It used to be in holiday periods but now feels like it’s all the time.
"The question is whether those roads and other services will keep up with the growth," the valuation firm concluded.