Breaking News Today – Will the Sunshine Coast Property Boom Continue?

Breaking News Today – Will the Sunshine Coast Property Boom Continue?

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will sunshine coast property boom

There are many factors that will determine whether the Sunshine Coast will experience another property boom. Rising infrastructure spending, booming industries, and a great lifestyle are just a few of the reasons that people are eying the region. With these factors, it is not surprising that real estate prices on the Sunshine Coast are expected to skyrocket in the next few years. In fact, 14 suburbs of the Sunshine Coast posted capital gains of 10 per cent or higher over the last year, with some even achieving thirteen per cent or greater gains. Recent research from Hotspotting, an Australian real estate research company, also identified the Sunshine Coast as one of the top real estate markets in the world and a growth star across the country.

While record-low mortgage rates have encouraged many southerners to buy property, Sunshine Coast house prices have increased by nearly 19 percent year-on-year. This is the fastest rate of annual house price growth in Australia, and the Sunshine Coast could become one of the most expensive places to buy a house in Queensland. While it is hard to predict which suburbs will see the most rapid growth, it is clear that the Sunshine Coast is in for a property boom.

According to the latest report by Oxford Economics, the median house price on the Sunshine Coast will increase by 19% over the next five years, surpassing Brisbane’s price growth of over 40%. In June 2021, the median price on the Sunshine Coast was $830,000, despite interstate border closures in 2020. As long as the population growth continues, the Sunshine Coast will continue to outperform Brisbane’s median house price. In fact, QBE predicts that median house prices will surpass Brisbane’s by 2021.

In addition to interstate migration, favourable affordability and increased demand are driving prices upwards across southeast Queensland. These trends are likely to continue for the foreseeable future, with interstate migration and infrastructure spending in the lead-up to the 2032 Olympic Games driving further prices. The pipeline of infrastructure spending, transport improvements, and job creation will also fuel property prices. In addition, the price increases will be reflected in the overall cost of living.

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