Are Sunshine Coast House Prices Rising?

Are Sunshine Coast House Prices Rising?

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Property markets continue to shrug off interest rate increases without being significantly impacted. According to CoreLogic’s most up-to-date data, house prices in most suburbs have actually risen since four years ago.

This growth can be attributed to strong regional markets; in particular, Brisbane and Perth have witnessed surges in their housing values.

1. Demand is strong

There has been much talk lately of whether or not the housing market slump is over, but one glance at recent property data will demonstrate that demand remains strong and house prices continue to climb.

Tim Lawless of CoreLogic research director believes the current surge in capital city home prices is caused by multiple factors. While Sydney and Brisbane remain at the center of the housing boom, other regions and affordable fringes of capital cities are experiencing more modest recoveries.

The Sunshine Coast has experienced strong demand, thanks to its lifestyle amenities, infrastructure developments and future potential capital growth potential. Investors and homebuyers have taken an interest in this region thanks to lifestyle amenities, infrastructure developments and future capital growth potential that make it attractive. It has also seen people migrating from Sydney and Melbourne helping drive job creation locally which has increased consumer confidence as well as property values higher.

2. Affordability is strong

Affordable property investments on the Sunshine Coast remain one of its primary draws, as this region provides a desirable lifestyle that blends beachside living with lush hinterland retreats as well as modern amenities such as shopping centres and cultural events.

CoreLogic’s Tim Lawless has noted that Sunshine Coast is one of the most desirable regions for interstate migration, increasing demand for housing. He cautioned however, that affordability constraints could potentially limit future price gains.

Finding the ideal suburb is of paramount importance to ensure an easy commute and lifestyle fit, without going over budget or mismatching lifestyle preferences. By working with a reputable builder who offers quality new homes at competitive prices, Aura Caloundra West on Sunshine Coast provides plenty of entertainment – 12 parks and playgrounds, sports fields and tavern. Learn more about house and land packages available there today.

3. Supply is tight

Many are flooding into the Sunshine Coast market in search of affordable property. As demand for housing in this region increases, so too do prices: in just 12 months property prices in this region rose 12.9% – not only in desirable suburbs either; some less-than-desirable suburbs have experienced considerable median house value increases too!

CoreLogic property analysts report that national real estate prices are on an unprecedented upward trajectory, experiencing eight consecutive months of sustained gains nationwide. This surge is being fuelled by interstate migration, increased consumer trust and surging demand.

Though some major city markets continue to decline, others have stabilised and experienced small gains. Sydney house prices were up 0.7% during December quarter while both Melbourne and Adelaide witnessed unit markets post moderate gains.

4. Vacancy rates are low

Vacancy rates provide an insightful analysis of a real estate market’s health. By measuring how much supply there is relative to demand, this metric helps reveal whether property prices are increasing or decreasing.

Low vacancy rates often signal strong demand and higher rental yields for landlords, while high vacancy rates may increase housing costs for households on low and middle incomes, necessitating legislators implementing policies to guarantee all households have access to affordable housing options.

Vacancy rates tend to be lower for homeowner properties than apartment complexes due to slower turnover of owner-occupied homes versus rental apartments. Furthermore, coastal regions see lower vacancy rates; as demonstrated by Sunshine Coast properties experiencing rapid price growth. House prices saw over 60% increases and unit prices nearly 50% increases – this marked the highest price increase outside Brisbane!

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