Heading into summer on the Sunshine Coast we have seen both Buyers and Sellers show invigorated interest in the property market.
TOP SALES PERFORMER
Recent figures from RP data have shown Buderim to be the top sales performer in the State. The figures show the total value of sales in Buderim increased by 4.8% per cent in the 12 months to July 2010, with 512 houses sold in Buderim for total sales values of $319,414,049.
What is this love affair with Buderim? Buderim’s is located 5 minutes to Mooloolaba beaches and café strip, Sunshine Plaza shopping centre, Sunshine Coast University and has easy access to the Bruce Highway for travel to Brisbane. The ‘market place’ feel of the main street attracts foodies, artists, day trippers and families alike.
The diversity of properties available caters to a range of budgets and lifestyle requirements. Choices range from units starting at around $300 000, houses from $450 000 up to multi million dollar acreages.
The current property market in Buderim gives Buyers a large choice of properties to filter through when purchasing, with homes averaging 129 days on the market. A current client has selection criteria of 4 bedrooms, 2 bathrooms, double lock up garage, brick or rendered home with pool on an easy acre block under 800m2. At least 40 are available at a list price of around $500 000, with the current Buderim median house price at $540 000, now is the time to search out the most motivated vendor and secure a top value investment.
SUNSHINE COAST TOP 3 GROWTH PERFORMERS
|
Suburb |
Property Type |
Median Price (Feb 2010) |
12 Month Growth |
|
Minyama |
House |
$968,000 |
61% |
|
Shelly Beach |
House |
$987,000 |
45% |
|
Moffat Beach |
Unit |
$485,000 |
31% |
|
|
|
|
|
SUNSHINE COAST PROPERTY MARKET CYCLE – ARE WE THERE YET?
Herron Todd White (HTW) indicators show that the Sunshine Coast Property Market is at the ‘bottom of the market’. What about other states? – Melbourne is at the peak of the market and turning to a declining market, Sydney – is at the bottom of the market. History shows that the Sunshine Coast follows a similar trend, somewhat delayed, of the Sydney and Melbourne markets.
One of the first questions Clients ask is “when is a good time to buy?” although it is currently a ‘Buyers Market’ on the Sunshine Coast, if you are purchasing an investment property your calculation must also include the extended time to secure a tenant as HTW indicators show there is a current oversupply of rental properties relative to demand.
If you would like more information on Sunshine Coast Property Market indicators please contact us at info@propertybusiness.com.au
