Property Analyst’s, Michael Matusik along with Antonia Mercorella from REIQ, agree that it is the Qld property markets turn for an upswing. Michael predicts the upswing should be in two years’ time and plateau.
Drilling down to the Sunshine Coast market Michael explains that the regions population has been growing at a rate of 6% for 10 years, that’s 52,000 a year! The Sunshine Coast needs to build 2300-2500 new dwellings each year to keep up with the demand.
No longer just a tourist town and retirees haven, people are coming here for employment, with 12,000 new jobs forecasted in thenext five years.
Jobs growth will be Health 22%, Tourism 17%, Professional Services 14%, Public Service 11% and Construction 2%.
“It has taken a while to bounce back from the GFC but now there is great cause for optimism” Antonia said.
(figures and comments source SCD)