Sunshine Coast - Month in Review
November 2018
We must say it’s great when you can agree with the valuer’s thoughts on the Sunshine Coast real estate market.
In Herron Todd White’s Sunshine Coast Month in Review, it’s fantastic to see the developers finally realising that the baby boomers need size in their apartment living. A nice size is 150-180 sqm plus for a penthouse. Two car spaces are a must as this group of retirees and downsizers have more separate hobbies they enjoy. In past generations couples often got away with one car when they retired, but it’s not the case these days.
When speaking with newly retired buyers, we find they often wonder when they ever had time to work, as they try to fit everything into their very busy lifestyles.
Then there are the new homes that baby boomers are wanting. They’re often looking for slightly smaller homes. Just under the 500 sqm mark, where they can still have a master bedroom on the ground floor or where they can install a lift to get upstairs in the smaller allotments. Plus, the big one we get all the time is buyers want room for a caravan. When they finish their Grey Nomad road trips for the year, they have somewhere to park until their next adventure.
Our market is still going strong with most of our enquiry coming from Sydney where the market has cooled after many years of rapid growth, and Sydneysiders see great value buying into our market allowing them to have funds left over to top up their super funds.
Another thing we find is buyer’s comparing Sydney and Melbourne market conditions to the Sunshine Coast property market. We must sound like a broken record explaining to people that we’ve had steady, sustainable growth compared to the rapid unsustainable growth of our southern counterparts.
The recent decline in performance of Sydney and Melbourne is by no means representative of our market and it would be more correct to suggest that current statistical trends point toward a return to more “normal” market conditions in these capital cities.
This week in a Courier Mail news article Minyama scored the second highest growth in Queensland helped with some very good sale prices on Mooloolah Drive at $6.1 million and Mooloolah Island at $5,150,000 both to well-respected young builders who’ve done very well indeed putting Minyama back on the map.
