Connect with us

Uncategorized

Coast real estate experts say property still on the rise

Published

on

REAL estate identities say the Sunshine Coast market will continue to grow steadily, regardless of reports that the housing cycle has peaked.

EXPERT’S VIEW: Prices are yet to peak say local agents.

EXPERT’S VIEW: Prices are yet to peak say local agents.

Investment bank Morgan Stanley released research this week calling the peak and forecasting a slowdown in price growth, followed by a negative impact on building activity next year.But Coast real estate agents predict the region’s property prices are likely to be immune from the forecast fall and should continue growing.

Increases of between 5% and 10% have been reported across the Coast and Sydney buyers who have made the most of their boom are said to be showing interest.

Sunshine Coast Real Estate Institute of Queensland chair Amber Werchon said Coast prices had grown by 6.4% over the past 12 months according to REIQ figures, and looked like continuing on the same path.

“It doesn’t feel like we’ve peaked yet,” Ms Werchon said.

“We’re still very affordable compared to Sydney and Melbourne and we still have so much more development and infrastructure to come.”

Andrew Garland, of Ray White Caloundra, said the Coast’s market was more aligned with Brisbane, where prices were on the rise, rather than with Sydney or Melbourne, where the market was cooling.

“How our market works is that we follow the Brisbane market by six to 12 months and that’s probably why we’re starting to see some of the strength of the strong Brisbane market at the moment,” he said.

Mr Garland did not think the Coast would experience a delayed decline.

“We’ve got a lot of stuff going on. The hospital will come online in the next 12 months and we’ve got Caloundra South starting.”

Coolum agent Noel Mooney, of North Shore Realty, said buyers were showing confidence in the Coast.

“We’ve had three sales recently where people have bought off the internet without even setting foot in the house,” he said.

Mr Mooney said buyers would be hard-pressed to find a house in central Coolum for under $500,000 these days.

Industry veteran Mal Cox, of Noosa agency Tom Offerman Real Estate, said property reports were usually based on metropolitan markets and did not accurately reflect regional areas.

“I don’t believe we’ve reached our peak yet. We’re still having good increases,” he said.

Mr Cox said Coast property owners were older and tended to hang on to properties for longer, which created stability in the market.

He said Noosa in particular was likely to hold prices better than the rest of the Coast because of development restrictions.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Uncategorized

Auction tips: Why and when you should auction

Published

on

WHEN it comes time to sell your property, the age-old argument of auction versus private treaty naturally comes to the fore.

There is no one best practice but the general consensus among property professionals is both type of housing and market confidence play pivotal roles.

Core Logic RP Data auctions spokesman Kevin Brogan crunched combined capital city data over the 12 months to November 2015 and found higher valued and more unusual properties were taken to auction.

“If you have a house in a street and there are 10 others like it, you have a pretty good idea of what it’s worth,” Mr Brogan said.

“But if it’s unique or unusual you might not be able to pick what it’s worth so you take it to auction on the proviso there’s enough interest.

“Looking at the combined capital city data over the past 12 months to November, you see the general median price of houses that sold at auction is about $950,000.

Continue Reading

Uncategorized

Construction Begins On Sunshine Coast CBD

Published

on

Construction Begins On Sunshine Coast CBD

Construction Begins On Sunshine Coast CBD

Construction officially began today on a new central business district for the Sunshine Coast, which is forecast to create more than 30,000 permanent jobs in the region by 2040 and provide a $5.9 billion boost to the Queensland economy over the project‟s 20-year life.

Premier Annastacia Palaszczuk turned the first sod on the prime 53-hectare SunCentral Maroochydore development site, which promises to showcase excellence in urban design, technology and innovation, including some Australian firsts, such as automatic waste collection.

SunCentral Maroochydore‟s Chief Executive Officer John Knaggs said the unique development represented a coming of age for the region.

“The Sunshine Coast is already the second highest performing regional economy in Queensland and the fifth highest nationally,” Mr Knaggs said.

“With the $1.8 billion Sunshine Coast University Hospital due for completion at the end of this year along with the planned expansion of the Sunshine Coast Airport, the new city centre at Maroochydore will ensure we are rising to the challenge of growth, with a clear focus on jobs.

“The Sunshine Coast population has risen from 65,000 to 335,800 in the past 40 years and by 2040, well over half a million people are likely to call the region home.”

The Council-owned land would deliver more than $300 million in public space and infrastructure to the people of the Sunshine Coast.

Sunshine Coast Mayor Mark Jamieson said the site on the former Horton Park Golf Club would be transformed over the next two decades to include commercial buildings, destination retail outlets, a premium hotel, civic facilities and an exhibition, convention and entertainment centre, with 40 per cent of the new city centre site dedicated to waterways and parkland.

“This is Australia‟s only greenfield CBD within an existing urban area, which provides us with the opportunity to build from scratch, a city centre that is able to meet the needs of people both now and in the future,” Mayor Jamieson said.

“Applying our smart city framework – which includes digital solutions for the management of street lighting, car parking, water, power and signage that is detected by smartphones and other technologies, and where rubbish bins are emptied via automated underground tubes means SunCentral Maroochydore will become a nation-leading destination for innovative businesses.

“Importantly, given its significance to the Sunshine Coast, this is a project owned by the community. Independent expert analysis suggests our new city centre will grow our local economy by $4.4 billion over the life of the project.”

SunCentral Maroochydore‟s CEO said the project was vital to preventing urban sprawl on the Sunshine Coast and would deliver a viable commercial hub, public recreational facilities and an interconnected city.

“Urban sprawl has been a challenge on the Sunshine Coast for decades and SunCentral Maroochydore is about consolidating future development and delivering an outstanding city centre,” Mr Knaggs said.

 

 

 

Originally Published On: http://www.theurbandeveloper.com/

Continue Reading

Uncategorized

Illegal homes sell-off will not affect market

Published

on

THE property industry has backed Treasurer Joe Hockey’s plans to force 500 foreign home owners who breached investment rules to sell their properties.

Mr Hockey said an investigation into foreign investment had found the homes, worth a total of $1billion, were bought outside the investment rules.

He said among those found were overseas students – “some who had never filed a tax return have bought properties worth $5 million”.

Property Council of Australia chief Ken Morrison backed the move, but said it would not do anything to address housing affordability.

Mr Morrison said the sales were a “drop in the ocean” and far too few to impact the market.

Continue Reading

Make Your Super Work

smsf property investment smsf borrowing

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

investment property calculator successin property

Trending