Does anyone have any thoughts or knowledge regarding IPs (houses) at the higher end (~$1mil) on the Sunshine Coast? Maybe that isn't high end for some, but I've only had experience with IPs at lower-mid range (~$200-400K) in Victoria. I have only just started looking at getting back on the IP horse after GFC altered my plans & was looking at locations in Qld, which could be IPs for now but possibly PPOR in 5-10yrs time (being overly optimistic). Initially started researching Whitsundays (Bowen/Cannonvale/Airlie Beach), given Abbot Point supposedly has the go-ahead, but this area has burned a lot of people over the last few years & it looks like tourism & other industries don't insulate the area from the mining volatility. Moved my interest down to Sunshine Coast & was looking at properties on the lower end of the scale, but unfortunately managed to click on my absolute dream PPOR by some complete fluke. Unfortunately this is ~$1mil & I have no idea whether there is much demand for rentals of properties of this value. The vacancy rate in the suburb is currently only ~2%. Any thoughts greatly appreciated.
Sunshine Coast - higher end
- Thread starter Toon
- Start date
Hi Toon,
I think the Sunshine Coast is a goer at the moment. I reckon there is going to be a mass exodus of Victorians and Sydney people as they seek a cheaper/warmer lifestyle (especially the baby boomers as they are starting to retire in lots of numbers now). Similar to what happened circa ??10 to 20 years ago?? Forget when it was exactly but a lot of Victorians headed north and stayed.
I think the Sunshine Coast is a goer at the moment. I reckon there is going to be a mass exodus of Victorians and Sydney people as they seek a cheaper/warmer lifestyle (especially the baby boomers as they are starting to retire in lots of numbers now). Similar to what happened circa ??10 to 20 years ago?? Forget when it was exactly but a lot of Victorians headed north and stayed.
Hi Charlieandkath,
It would certainly make sense - I would be up there in a shot instead of freezing down here if I could. I wonder how many will rent though & how many will put their $$$ into buying instead.
This suburb is more expensive than the one I was actually looking at. It appears to have a good yield & low vacancy rate. Would you know whether there is much rental demand for the higher end properties though?
There will be when cashed up Sydney Retirees move up here. 
But seriously in the price bracket you're looking in there's not a tonne of options. There are RAPIDLY becoming more though, as the market here is heating nicely. Also developers are fast running out of Land. There will be more coming online when the Caloundra South Project starts. How far off that is though nobody seems to know due to a huge underestimation in Development Costs. But for now I've seen more growth on The Coast in the last 12 months than I've seen in the last 12 years. Since the great "Sea Change" boom of 2003.
Where were you looking out of interest?
But seriously in the price bracket you're looking in there's not a tonne of options. There are RAPIDLY becoming more though, as the market here is heating nicely. Also developers are fast running out of Land. There will be more coming online when the Caloundra South Project starts. How far off that is though nobody seems to know due to a huge underestimation in Development Costs. But for now I've seen more growth on The Coast in the last 12 months than I've seen in the last 12 years. Since the great "Sea Change" boom of 2003.
Where were you looking out of interest?
You'll do alright in Buderim. With the new Maroochydore CBD coming on Buderim is still close enough to catch the price rise wave. But far enough away to maintain it's "village" feel. It is a highly desirable location (my partner wants to move back there). Particularly if you're near the top and have views.
Good luck.
I've watched one I was interested in sell for 560k back in January, only to see it back on the market this morning for 640k. Not a bad turnaround. They did nothing to it. At all.
But another I've watched sell in 2010 for 545k. And sold last week for 511k. Different area though, and people were way overpaying back in 2010-11. Only just getting back to par now.
Just do your research.
Buderim is a safe bet though. Good steady growth. And one of The Coasts blue chip suburbs.
I've watched one I was interested in sell for 560k back in January, only to see it back on the market this morning for 640k. Not a bad turnaround. They did nothing to it. At all.
But another I've watched sell in 2010 for 545k. And sold last week for 511k. Different area though, and people were way overpaying back in 2010-11. Only just getting back to par now.
Just do your research.
Buderim is a safe bet though. Good steady growth. And one of The Coasts blue chip suburbs.
Hey Sonamic, just wondering what the general vibe of the Sunshine Coast is like at the moment? Are things pumping along nicely or is it a bit gloomish. Any major projects in the pipeline that will push it along a bit? Employment factor?
Due to high property prices in Sydney and Melbourne I am thinking the money will shift north soon like you said it did in the 2003 sea change years. What would be say your feeling of not buying in Brisbane but buying on the Sunshine Coast instead?
Due to high property prices in Sydney and Melbourne I am thinking the money will shift north soon like you said it did in the 2003 sea change years. What would be say your feeling of not buying in Brisbane but buying on the Sunshine Coast instead?
Sunshine Coast has thousands of jobs coming its way in the next couple of years so expect to see some great growth.
To the OP. I have a mate who sells beautiful homes on the water next to the Maroochydore proposed CBD. Waterfront properties around the 600k mark that were 500k last year. If you want I can pass you his details to even chat about Sunshine Coast and its prospects
To the OP. I have a mate who sells beautiful homes on the water next to the Maroochydore proposed CBD. Waterfront properties around the 600k mark that were 500k last year. If you want I can pass you his details to even chat about Sunshine Coast and its prospects
Thanks for the heads up ej89, great news on the jobs front. At the moment there's a very particular property I'm interested in, but if I miss out on that I will start looking more seriously around for something else.
It's cranking up. But SE Qld in general is on the upward trend as overflow from the hot market southern states look for more affordable options.
Employment on The Coast is diversifying. We are no longer seen as a Tourism only economy. 2 brand new hospitals side by side (1 Public, 1 Private), Sunshine Coast Airport extension, creation of the Maroochydore CBD as a "Regional Hub" are the 3 main drivers for jobs. Lots of construction jobs, and a need for Medical Professionals when the new Public Hospital opens in 2016. And beautiful beaches to boot!
So don't Invest here as I still need to buy a few more IP's before nothing is available under 500k.
It's cranking up. But SE Qld in general is on the upward trend as overflow from the hot market southern states look for more affordable options.
Employment on The Coast is diversifying. We are no longer seen as a Tourism only economy. 2 brand new hospitals side by side (1 Public, 1 Private), Sunshine Coast Airport extension, creation of the Maroochydore CBD as a "Regional Hub" are the 3 main drivers for jobs. Lots of construction jobs, and a need for Medical Professionals when the new Public Hospital opens in 2016. And beautiful beaches to boot!
So don't Invest here as I still need to buy a few more IP's before nothing is available under 500k.
You really think it'll be that crazy that nothing will be available under 500k?
I should add that units and townhouses are not in my playbook. Yet. Neither is anything over 10 years old. But I'm odd like that. And besides most people here want the standard 4 bed 2 bath double lock up, which you can still pick up brand new for under 450k to rent for $500 a week. The figures work for me.
And a disclaimer, I'm no Sunshine Coast guru. I've lived here 40+ years and have a passion for property. That's all.
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