PropTrack director of Economic Research Cameron Kusher says “superior price growth” occurred on the Sunshine Coast in 2023.
He expects local home prices to keep rising into 2024 but at a slower rate due to interest rates and inflation.
“The expectation of slower growth is due to the delayed impact of interest rate increases and the broader economic slowdown along with the weakening labour market” Mr Kushner says.
“We still expect prices will rise but they will do at a slower pace.
On the Sunshine Coast home price growth will be dependent on migration to the region and subsequent demand for housing along with the amount of stock for .
Supply of stock for sale has been very low on the sunshine coast which has supported prices.”
Source: myweeklypreview.com.au 4/1/2024