The holiday home market could be in for its best year since the global financial crisis, with buyers flocking to NSW beachside towns while Queensland’s Sunshine Coast will also be busy.
Byron Bay, Port Macquarie and Coffs Harbour will be most popular while there will also be action around the more affordable Central Coast and in south-coastal Batemans Bay.
In Victoria, buyers will lean towards the surf towns of Lorne, Anglesea and Torquay, despite the recent fires in the area, while also keeping an eye on the Mornington Peninsula.
Experts say that the holiday home market — hammered after the financial crisis —will be busy due to the extra wealth that homeowners in Sydney and Melbourne have acquired over the past two years through the housing boom.
“Capital city house prices have grown, which has created more wealth for homeowners in Sydney and Melbourne,” Australian Property Monitors senior economist Andrew Wilson said.
“This could make it the best environment for holiday home purchases since the GFC.”
Byron Bay homeowner Jill Cowley put her five-bedroom beachside mansion on the block after owning it for more than 30 years, with price expectations of $5.9 million.
She and her husband were considering downsizing and decided to test the market as demand for homes in the area from capital city-dwellers had increased.
“We have noticed there has been a pick-up in the market that we are at — which is the luxury market,” Ms Cowley said.
“(Home price growth) in Sydney and Melbourne and other capital cities has been strong and I think there is a flow-on effect.’’
The house, on Lighthouse Road and marketed by LJ Hooker, is footsteps from the sand on Clarke’s Beach and has panoramic views over the ocean.
Ray White chairman Brian White said a lowering Australian dollar had helped push the holiday home market along.
“There is so much in a holiday home through owners achieving additional income through renting it out as well as using it for their own benefit,” Mr White said.
“The holiday bookings this year have been really strong, particularly on the Queensland coast, and that is a reflection that there are fewer people travelling overseas than before,” he said. “The big test in 2016 as far as holiday homes is what happens on the Gold Coast, and from all our reports it’s going to be a very active month; there has been a lot of inquiry already,” he said.
Century 21 chairman Charles Tarbey said holiday homes purchases — which he calls discretionary buying — had already started to improve.
“The discretionary spending area has already started to take off because it was so deflated for a very long period of time. Many holiday areas lost up to 50 per cent of their value after the GFC,” Mr Tarbey said.
He said buyers needed to pick the location of a holiday home carefully if they were to be confident it would hold its value. “I don’t recommend discretionary spending in areas that are not strong regionally,’’ Mr Tarbey said.
“For example, if you look at some of the areas that are in Victoria, or if you go down the bottom to Portsea, they are strong areas. But if you get further out from those areas it’s a bit weak.’’
The Sunshine Coast was a better investment than the Gold Coast, he said.
“I still think the Gold Coast has an oversupply of property and its got a fairly high population movement whereas the Sunshine Coast has got a very strong owner-occupier base which gives it sound reason to hold its property value,” Mr Tarbey said.
Gateway to $3 billion, 4800 home new Coast city opens
THE gateway to Palmview’s $3b master-planned community of Harmony will become a reality on Monday.
AVID Property Group and Sunshine Coast Council’s Cr Rick Baberowski will officially open Peter Crosby Way, the northern access into the 378ha project to the south of Sippy Downs.
During the next 15 to 20 years Harmony will deliver more than 4800 homes for 12,000 future residents, all enhanced by 100ha of open space.
Harmony is also slated for the future delivery of a town centre offering 15,250sq m gross floor area.
AVID Property Group general manager Bruce Harper said the event would be a landmark day for development at Palmview.
“This is an exciting construction milestone as we officially open Peter Crosby Way – the gateway to Harmony,” Mr Harper said.
“The road’s name pays homage to the site’s Crosby family history and will service 12,000 future Harmony residents, as well as those in neighbouring communities.”
Sunshine Coast farmer Peter Crosby has been a land-owner since 1964 and has strong roots in the area.
Crosby Hill Road at Buderim is named after the family.
Mr Crosby has been operating a cattle farm on the land, and a cane farm in previous decades.
The road opening coincides with the start of construction on individual houses at the estate.
Work on display homes in the Harmony Display World is already well advanced with the 43 homes from a team of 25 national and local builder partners expected to open in the second half of this year.
Harmony’s first home buyer Daniel Clark said he was looking forward to construction commencing on his new home.
“It is very exciting to get out on site and see the construction progressing at Harmony,” Mr Clark said.
“Having downsized to a smaller sized block will mean less time spent on maintenance and more time for the important things in life.
“Harmony is the perfect location for me – right in the heart of the Sunshine Coast but also a short drive to Brisbane, meaning I can be close to both my daughters and grandchildren at Noosa and Albany Creek.
“I love that my block is so private and there will be lots of green, open spaces in the community.
“I was happy to learn that the development has become the first six leaf EnviroDevelopment masterplanned community in the South East.”
Queensland home builders, Stylemaster Homes, is set to deliver Mr Clark’s new four-bedroom, open plan home.
Originally Published: https://www.chinchillanews.com.au/
Housing shortage: 150 home inspections to jag a rental
JOHN Hunt thought he would be sleeping on the streets this week.
Mr Hunt has spent the past two months searching for a rental property after being told he would not be able to renew the lease at his Currimundi home.
As if finding an affordable rental on the Sunshine Coast is not hard enough, his house hunt was made even more difficult because he needs a residence that is wheelchair accessible and can accommodate his two companion dogs.
On the eve of eviction this week, he got a phone call that changed his Christmas.
“I got a house – that’s Christmas taken care of for me,” he said.
Mr Hunt will move this weekend to a rental at Beerwah which he can make wheelchair-friendly through the use of portable ramps.
He had been forced to look for somewhere else to live because his landlord required his current house for use by a relative.
He said he was fortunate that his letting agent, aware of his predicament, had allowed him enough leeway on vacating the property by the due date of Tuesday.
“I would have been out on the street,” he said.
On a disability pension, Mr Hunt is part of a group of people finding it increasingly difficult to rent on the Coast because their fixed incomes have not risen at the same rate as rents.
Mr Hunt estimated he looked at 150 houses over two months, of which about 20 were suitable.
He was critical of home owners and letting agents who seemed oblivious to the requirements of disabled potential tenants such as himself.
“It’s not the housing crisis, it’s people with no common sense – people sending me out to houses with stairs and houses I can’t fit into in a wheelchair, bathrooms I can’t fit into,” he said.
His house hunting gave him an insight into the shortage of affordable housing on the Sunshine Coast.
“It’s just so scary. Some of the people I talked to were living in their cars. Something needs to be done. People need to know about it, I think,” he said.
Originally Published: http://m.sunshinecoastdaily.com.au/
Sunshine Beach property breaks real estate record
A SUNSHINE Beach mansion sold for a cool $9.3 million has smashed a Queensland real estate record.
The sale of the Webb Rd beachfront beauty now claims the highest property sale in the state outside of Brisbane.
Noosa real estate agency Tom Offermann oversaw the multi-million dollar exchange and principal Tom Offerman said the 1460m2 property is worth every penny.
“It’s a record price, but I think it’s worth every dollar when you consider it’s a once only payment for enjoyment in perpetuity, and the value will only escalate over time,” Mr Offermann said.
“It really only hits you how wonderful the property is when standing on the lawn overlooking the surf.
“It’s the highest Queensland sale of its type outside Brisbane and sets a new benchmark for lifestyle property.”
The five bedroom, four bathroom property overlooks a panaromic ocean view of Sunshine Beach, with a lush tropical backyard garden fringing a lagoon-style pool and a lawn that seamlessly meets the white sand.
The home boasts “party-sized” balconies and terraces, open spacious interiors, and is a two-minute stroll to a shopping village and 4km to chic Hastings St.
Webb Rd is a short cul-de-sac and contains just four beachfront houses in total
Mr Offermann said the previous owners lived there since 1984, and have “downsized” from the property to another house in the same area.
Mr Offermann would not comment on the buyer’s identity or intentions for the property, however did make note of the number of celebrities that often make Sunshine Beach their home.
“One of the real joys of our business is the people we have the privilege to meet. It’s amazing who can walk into our offices: rock stars, movies stars, sports stars, corporate captains, celebrities, billionaires, you name it,” he said.
“I remember one day we met the Incredible Hulk, Bill Bixby, in our office, and then bumped into Rod Stewart getting a sandwich next door.
“While Noosa’s drawcard is its natural environment, amenable climate, and lifestyle, I hear a lot of people saying they love it because all the people seem so relaxed and pleasant.”
Tom Offermann handles most of the prestigious sales in Noosa and currently has seven of the eight available beachfront houses listed, starting at $5.95 million.
Mr Offermann said he remembers overseeing the first million dollar sale for a Sunshine Beach property in the late 1980s.
“I recall negotiating the first million dollar sale for a Sunshine Beach house in 1987 when a lot of people considered it a ridiculous price,” Mr Offermann said.
“Demonstrating how the value of prime location, we sold it again a couple of years ago for over $7 million.
“Records will continue to be smashed because they are just not making any more of it and people, who can afford it, will want it.”
Original article published at www.theurbandeveloper.com by Staff Writer 21/9/16
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