Without a doubt, one of the most commonly asked questions we get as real estate agents is, how’s the market?
To provide insight into the current Sunshine Coast housing market, the Real Estate Institute of Queensland (REIQ) has put together the latest Quarterly Market Monitor Report. The REIQ Quarterly Marketing Monitor (QMM) for March 2019 has revealed that the Sunshine Coast is again one of the top performers for the state.
The report details sales across the region from the last quarter, and compares them to the same period from one year ago, and five years ago.
Houses across the Sunshine Coast have remained steady with a median price of $585,000 which is almost 30 per cent than this time 5 years ago. While units across the Sunshine Coast have had a rise of just over 20 per cent in the last 5 years to $415,000.
In addition to this, the Sunshine Coast rental market has also stayed steady over the last quarter. With average rent remaining primarily the same. The residential vacancy rate eased over the March quarter – increasing to 2.6 per cent.
The economic fundamentals supporting the property market on the Sunshine Coast have remained solid and supported by the ongoing infrastructure and development projects, making the future look very bright for our region!
The second stage of the new Maroochydore CBD is also under way, with expressions of interest called. The new CBD has been declared a Priority Development Area by the State Government. This status allows for streamlined planning, approval and development processes, which include a proposed light rail network.
If you’d like a copy of the most recent QMM, or you’re thinking of buying, selling or renting, take advantage of our expertise to achieve your property goals and contact us today.