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Happy days for Sunshine Coast property market

The Sunshine Coast property market is experiencing enviable growth in a number of key locations.
Minyama was the best performing Coast suburb, seeing a 45.8 per cent capital growth in 12 months. Image: Greg Gardner.

Property

Happy days for Sunshine Coast property market

The Sunshine Coast property market is experiencing enviable growth in a number of key locations.

Sunshine Coast suburbs have made up more than 10 per cent of the Top 68 Performers released by the Real Estate Industry Queensland (REIQ).

The list, which features in the Queensland Market Monitor June 2018 report, identifies the suburbs achieving a double-digit annual house price growth for the 12 months to June 2018.

REIQ CEO Antonia Mercorella says houses located on blocks with an area above 2400-metres-squared were taken out of the analysis and only suburbs with a volume of annual sales above 20 for the past year were included in the analysis.

Surrounded by water and offering one of the most popular marinas in the southeast corner, the exclusive suburb of Minyama was one of 11 suburbs throughout the state to reach an annual median price growth of 20 per cent.

In fact, it was rated the fourth highest with 60 sales over the 12-month period giving a median price of $1.31 million, a staggering 45.8 per cent capital growth.

With 73 sales generating a median price of $670,000, Mount Coolum also made it over the 20 per cent mark with a 21.9 per cent 12-month capital growth.

Ms Mercorella says while many headlines predict doom and gloom for the property market, the reality is very different with many markets in Queensland performing exceptionally well.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” she says.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

The beachside suburb of Yaroomba was the third highest Sunshine Coast suburb on the list, coming in at number 13, with 27 sales creating a median price of $749,000 and a 19.7 per cent capital growth.

With a massive 181 sales, Pelican Waters generated a median price of $761,000 and a 13.9 per cent annual capital growth, to place it at number 28 on the list.

Rounding out the Coast’s top five was Landsborough. With 42 property sales and a median price of $432,500, the hinterland suburb experienced 13.4 per cent growth.

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Roxy has been a journalist for more than a decade and joined the MWP team at the end of 2016. She is a chocolate-powered writing machine who loves to engage with the Coast community, uncover untold inspirational stories and share information that can help people.

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