There is no doubt we have seen an increase in the gentrification of the established suburbs and particularly in the sought after, coastal and beachside areas. With the strength experienced in the market over the past couple of years, the option of trading up was pretty hard, so owners have had to re-assess their options. So, if you like where you live, the option is to renovate and extend the current home, maybe even drop in a pool. This helps future proof the property.
The Sunshine Coast has attracted and continues to attract a number of people to the Coast. With the 2032 Olympics to be held in Brisbane and the wider south-east Queensland area, the positive energy in the market will continue for some time yet. Clearly the headwinds surrounding the interest rate rises and deterioration of economic conditions will pose some problems but if we can get past this little slow down, we should be in a good position.
Source: Extract Herron Todd White Month in Review Sept 2023
