Sunshine Coast sales remain strong as buyers seek lifestyle locations.
The key message for property investors right now is; there are many growth markets across Australia. Mainstream media can often extrapolate the market conditions in Sydney and Melbourne and apply them to the whole nation and this is certainly not the case right now on the Sunshine Coast.
Sunshine Coast is experiencing a tremendous shortage of properties available to purchase, huge demand from buyers, resulting in premiums being paid across the region.
Permanent rental vacancy rates remain very low with very limited availability, while holiday bookings remain strong due to Queenslanders holidaying 'local'.
The average time on market when selling is falling.
We are experiencing multiple buyers on properties and in some cases up to four contracts to purchase the same property.
Tourism is a crucial industry to the Sunshine Coast, yet the real estate market is unaffected due to strong Northern migration and a local economy strengthened by ongoing infrastructure spending, including the evolving Sunshine Coast medical precinct, the new Sunshine Coast CBD under construction, billion dollar highway improvements, the upgrade of the local airport to international status and the subsea internet cable link to Asia – among other projects.
It is true the world has changed since this pandemic; it seems coastal lifestyle destinations are now where everyone wants to be.
Something unlikely to change now that we all have become accustomed to doing business from home.