We have recently been searching for property in the area of Sippy Downs and thought it timely to update you on the area.
Background
With the first stages of the ‘Chancellor Park’ master planned development now 13 years old the street scaping is well established and the extensive parklands and man-made lakes have softened the network of roads and harshness of the multitude of dwellings from the early days.
Location
As the name suggests the development boarders the grounds of the University of the Sunshine Coast with a number of both public and private primary and secondary schools within a 5 minute drive.
Facilities include a Woolworths, over 50 specialty shops, some of the ‘big4’ banks and a handful of ‘big box’ stores such as Joyce Mayne and Dan Murphy’s etc, and most recently the addition of a super medical clinic.
Future plans include a major commercial precinct along with a large community titles scheme residential precinct.
Close access to the Bruce Highway and the Motorway makes commuting to Brisbane or travelling north, stress-free. The two new hospitals are a 10 minute drive away.
Sales
The property we secured for our client was a one owner, brick 4 bedroom, 2 bathroom, 2 car garage with in-ground pool and a substantial undercover outdoor area, air conditioning and gated side access. Located across the road from a recently sold ($718,000) lake front property and in a street full of house proud neighbours. Price $485,000, rental appraisal at $500 per week.
Median House Price $430,000 Median Unit Price $357,000.
Rental Market
While visiting one of the local Real Estate Agencies, a lady enquired as to the rental listings and was told the agency has two available and neither was in the local area. NOTE: a recent realestate.com search of houses for rent in the area showed only 9 available, out of the 3,300+ separate houses (as per the 2011 census).
Watch out for
The close proximity to the University of the Sunshine Coast, and investors ‘jumping’ on a large percentage of housing initially saw certain parts of the development crowded with uni students in multiple tenancy per dwelling, resulting in a few ‘slum looking’ streets. I would advise anyone looking in the area to drive by the potential property and check the street, adjoining neighbours and rear neighbours. Also, the location of large power line easements and streets that record high traffic noise from the Bruce Highway, should be taken into consideration.
Charts Showing Capital Growth and Rental Growth Sippy Downs Houses
