2016 was an extremely positive year for the Sunshine Coast property market. We take a moment to review land sales… and it is clear that there has been increased interest and record sales in the prestigious land market. For example, waterfront development; ‘Entrance Island’. These level half acre blocks located in a private and secure gated community bring a whole new meaning to waterfront living on the Sunshine Coast.
Achieving an average sale price of over $1 million per block reflects the dramatic increase in buyer confidence, which has been driven by the positive economic conditions on the Sunshine Coast and the impact of the large infrastructure projects currently underway. These include the $1.8 billion Sunshine Coast University Hospital (only 700m from Entrance Island itself), surrounding health hub and Oceanside development, Maroochydore Town Centre and the proposed redevelopment of Maroochydore Airport.
Buyers are in awe of the lifestyle Entrance Island provides with it’s prime location and a once in a lifetime opportunity to own level waterfront land within walking distance of the beach and one of the largest health hubs of the southern hemisphere.
With the Sunshine Coast University Hospital nearing completion and employing a total of 6,500 staff, we have seen a number of the Entrance Island blocks sold to health professionals moving to the area from Brisbane, North Queensland, Sydney and New Zealand. However, initially local buyers were attracted to the physical size of these level half acre lots starting at 2,000m² and the surrounding walkways, parks, bikeways and recreational facilities, along with the lake where families can safely swim, sail, kayak, and enjoy all that coastal living has to offer!
With originally only 17 lots available, now only 3 remain. While many purchasers have seen the potential for huge capital gain in such a prestigious development, and some are holding their blocks as an investment, construction is now underway on 4 of these lots which allows people to visualise their ideal lifestyle on ‘Entrance Island’. There has already been one re-sale on the Island which was a recent record sale for Birtinya waterfront.
According to the latest REIQ Quarterly Market Report, the Sunshine Coast has now been identified as one of the state’s key growth regions, with significant ongoing infrastructure projects injecting money into the local economy and creating employment opportunities; 2017 is shaping up to be an even better year!
For more information on Entrance Island, and to secure your unique piece of real estate before it’s too late, contact our Agents Peter Brown on 0437 562 464 or Stacy Downey on 0400 444 011.