First I think that Boom is the wrong word as it implies there will be a Bust.
I have been in the Sunshine Coast Real Estate market since 2002, I have seen the Booms of 2003 and 2007, the GFC - where in the beginning the savvy investors bought the properties for a good price and then the market stagnated for a few years, through COVID where the market all but stopped for 6 months, to now, when you cannot find enough good properties to buy.
The Sunshine Coast has the Perfect Storm for the Property Market to continue its current trajectory.
Investment
$20 billion in public and private infrastructure projects; the Maroochydore CBD, Sunshine Coast International Broadband Network and Sunshine Coast Airport's international runway. Other big ticket items are Stockland's residential developments Aura and Oceanside, worth a combined $8 billion, Avid Property Group's $3 billion Harmony Estate and more than $2 billion in Bruce Highway upgrades.
Continued projected population growth
In June 2021, the total population on the Sunshine Coast is projected to be approximately 350,000 people. Over the following twenty years to 2041 it is projected over 160,000 additional people will settle on the coast. These projected figures would see our population reach over 500,000 residents by 2041.
Source: Sunshine Coast Council
Affordable living and property prices
Lets look at what $1.625 million buys in Newtown Sydney, a 2 bedroom, 2 bathroom, older dwelling, no off street parking, under the flight path, on a 190m2 block.
In Buderim it buys 6 bedroom, 4 bathroom, 4 car garage, modern home with pool on 600m2 in a bushland setting.
Lifestyle
60kms of beaches, 1 hour to hinterland ranges, Noosa Heads renowned foodies paradise, excellent NBN, International airport, friendly locals, excellent education facilities and new hospitals and health hub.
So, in all, I don’t think prices will drop, they may level off.
Now is the best time to buy, do not wait until ‘prices come down’.
They aren’t going to.
