The Sunshine Coast is a postcard-perfect region situated in the Australian state of Queensland, boasts an impressive 60-kilometre expanse of pristine coastline with stunning beaches, sub-tropical forests, and awe-inspiring mountains. The laid-back lifestyle that characterises the Sunshine Coast has made it a favoured destination among both tourists and permanent residents. If you’re considering buying at auction, read our comprehensive guide to buying property at auction on the Sunshine Coast.
With factors such as increased interest rates and post-pandemic, many home buyers and investors are wondering what the Sunshine Coast real estate market has in store. Lucky for you, we’ve compiled the ultimate list of house price performances over the past few years on the Sunshine Coast to keep you informed.
Factors Affecting House Prices on the Sunshine Coast
Before listing the house price performances based on suburbs in the Sunshine Coast, it’s important to consider the factors that influence the real estate market’s performance. Below are some significant factors that have impacted house prices on the Sunshine Coast and surrounding regions:
The Sunshine Coast is a vast region, with varying house prices depending on the location. Some of the most expensive areas include areas by the water including Noosa, Mooloolaba, and Maroochydore, while more affordable options can be found in the hinterland region.
If you haven’t visited the Sunshine Coast before, it’s a beautiful coastal region located in the Australian state of Queensland. Found on the east coast, only one hour away from the state capital Brisbane. The Sunshine Coast stretches from the southern coastal city of Caloundra to the cool and famous town of Noosa in the north.
The region is known for its stunning beaches, lush rainforests, and stunning hinterland. The Sunshine Coast’s location provides easy access to some of Australia’s most iconic natural attractions, including the southern Great Barrier Reef, Fraser Island, and the Glasshouse Mountains.
Whilst this seems obvious, the type of property you are looking to buy or sell will also affect the house price performance. Apartments and units for example tend to be more affordable than standalone houses. Then there is the ‘by the water’ premium that is seen for any property that is found near the water. Suburbs such as Aura and Harmony developed by Stockland, do not generally incur this water premium.
The Sunshine Coast’s real estate market’s performance is not exempt from economic factors such as interest rates, inflation, and employment rates. Keep in mind, the Sunshine Coast has seen record-low interest rates and experienced an influx of inter-state buyers and investors amid Covid-19.
Supply and Demand
In recent years, there have been substantial supply and demand problems in the Sunshine Coast real estate market. A rise in demand for real estate has been caused by the area’s attractiveness as a travel destination and its image as an idyllic location to live. Due to developers’ inability to keep up with the demand for new houses, there is a scarcity of supply. Property values on the Sunshine Coast have soared as a result, making it more and harder for first-time buyers to enter the market. The COVID-19 pandemic has also made supply problems worse because it has increased demand for vacation houses and domestic tourism as a result of the closure of international borders.
The Ultimate List of Sunshine Coast House Price Performances in 2022
Now that we’ve considered what factors affect the Sunshine Coast real estate market. Let’s take a look at the house price performances on the Sunshine Coast based on suburbs and areas:
Noosa is one of the most popular areas on the Sunshine Coast, known for its beautiful beaches and upmarket lifestyle. The median house price in Noosa is $1,185,000, with a 5-year growth rate of 35.5%. The average days on market in Noosa is 47 days, indicating a strong demand for properties in the area.
Mooloolaba is another highly sought-after area on the Sunshine Coast, known for its stunning beaches and waterfront properties. The median house price in Mooloolaba is $1,025,000, with a 5-year growth rate of 34.2%. The average days on market in Mooloolaba is 56 days, indicating a strong demand for properties in the area.
Maroochydore is a popular commercial and residential hub on the Sunshine Coast, offering a range of amenities and lifestyle options. The median house price in Maroochydore is $700,000, with a 5-year growth rate of 27.3%. The average days on market in Maroochydore is 57 days, indicating a strong demand for properties in the area.
Caloundra is a picturesque and welcoming community that boasts a wealth of affordable housing options ideal for families. The median house price in Caloundra stands at $700,000, reflecting a remarkable 21.2% growth over the past five years.
Caloundra’s real estate market exhibits a moderate demand for properties, with an average of 60 days on the market. This suggests that buyers have ample time to evaluate their options and make informed decisions.
In recent years, Caloundra has experienced sustained growth, with new residential developments including Caloundra West, Aura and Baringa and infrastructure projects bolstering its allure. As a result, the area has become increasingly appealing to prospective homebuyers seeking a serene and comfortable lifestyle.
Sunshine Beach is a coastal suburb located just a few minutes drive from Noosa. It is known for its stunning beaches, high-end restaurants, and luxury properties. The median house price in Sunshine Beach is $1,985,000, with a 5-year growth rate of 41.8%. The average days on market in Sunshine Beach is 58 days, indicating a strong demand for properties in the area.
Sunshine Coast Hinterland
The Sunshine Coast Hinterland is a beautiful region located inland from the coast. It offers a range of lifestyle options, including rural properties, acreage, and stunning natural scenery. The median house price in the hinterland is $627,500, with a 5-year growth rate of 22.6%. The average days on market in the hinterland is 78 days, indicating a moderate demand for properties in the area. The hinterland has seen increased interest in recent years, with buyers seeking a more peaceful and secluded lifestyle.
Suburbs with the Fastest-Growing House Prices on the Sunshine Coast
Caloundra West is an affordable family-friendly area that has experienced growth in recent years. In 2021 alone, the median house price in Caloundra West increased by 20% to reach $690,000, making it an attractive location for those looking to invest in property or settle down with their family on the Sunshine Coast. The suburb has a great range of amenities, including parks, schools, shops, and restaurants, making it a convenient and comfortable place to live. Whether you are a family looking for a safe and welcoming community, or an investor seeking growth potential, Caloundra West is a suburb worth considering.
Located in the heart of the Sunshine Coast, Bli Bli is a popular choice for young families. The median house price increased by 18% in 2021 to $700,000.
Just five kilometres from Mooloolaba Beach and in the school catchment zone to top-rated schools, Mountain Creek has become an affordable and popular choice for families. The median house price increased by 17% in 2021 to $685,000.
Suburbs with the Most Affordable House Prices on the Sunshine Coast
This historic town offers a range of affordable housing options, with the median house price sitting at $420,000 in 2021.
Located in the hinterland, Beerwah is a popular choice for those seeking a peaceful lifestyle. The median house price was $485,000 in 2021.
This rural town offers affordable housing options within easy reach of the coast. The median house price was $505,000 in 2021.
The Sunshine Coast real estate market is showing no signs of slowing down, with strong demand for properties in the region. Understanding the factors that affect house price performance is essential when making real estate decisions. This ultimate list of house price performances on the Sunshine Coast can help guide your decision-making process.
Contact Bush to Beach Legal
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