Gangbusters: Coast property market surges

Outdoor entertaining area and deck of a waterfront Minyama home.
Outdoor entertaining area and deck of a waterfront Minyama home. Brad Filliponi

SUNSHINE Coast property prices are closing the gap on big brother, with the region's blue-chip market making ground on Brisbane's median property prices.

The Gold Coast reigned supreme, with annual median house price growing by 7.7 per cent to finish at $615,000 for 2017.

But the Sunshine Coast is taking steps, with median house prices growing 6.4 per cent to finish at $569,000.

The elite postcodes of Noosa, which have produced some headline-grabbing sales in recent weeks, also grew 6.2 per cent to reach an annual median house price of $650,000.

That placed Noosa's median house price only $15,000 below the Brisbane LGA median house price.

Long-time Mooloolaba estate agent Kevin Annetts said lifestyle was still a strong factor in luring buyers to the region.

He'd sold two properties in the last month to Western Australians looking to shift from corporate life to a more relaxed setting.

He said owner-occupiers and investors were also showing lots of interest in the market and the lack of supply was continuing to secure premium prices.

REIQ Sunshine Coast zone chair Damien Said has been in the industry for 22 years and said the current market was as strong as he'd ever seen it.

He said suburbs like Maroochydore, Minyama, Buddina and Mooloolaba had experienced double-digit growth for the past three years.

As urban sprawl continued he said properties closest to services and particularly closest to beaches, rivers and canals were becoming more and more attractive.

Lifestyle was a factor he was also seeing driving people into the local market.

"So many people can work remotely now," he said.

He said stock in the $450,000-$700,000 range was selling extremely.

Topics:  business development homes housing investment market property real estate

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