Why Are House Prices Rising on the Sunshine Coast?

The Sunshine Coast is the latest boom market in Australia, and house prices have soared by 5.4 per cent in the September quarter alone. This is largely due to the strong local economy and the influx of cash from cashed-up southern buyers. The region’s population has increased by more than 60,000 over the past 12 months and the region’s housing market is growing rapidly thanks to increased industry growth and new jobs.

While housing affordability is already a major issue on the Sunshine Coast, new industries and the arrival of new residents have added to the price hike. Rents and lease payments are higher, and locals are struggling to compete for rental properties. According to QBE, future development is the only way to meet demand and keep prices down. However, with the influx of newcomers, house prices on the Sunshine Coast are expected to rise by a further 1.6 per cent.

With a thriving economy, the Sunshine Coast has a heightened housing market. With almost zero rental availability, the building market is on a frenzy. The rapid expansion of the city has created a tight rental market, making it difficult for residents to afford higher rent payments. Despite the fact that COVID-19 cases are low on the Sunshine Coast, rising prices have given renters incentive to relocate to the region.

Currently, the Sunshine Coast’s housing affordability is under pressure, but future development will help meet the demand. A lack of rental availability has resulted in a tight rental market, forcing locals to take on sub-tenants and boarders. The lack of COVID-19 cases has created an incentive for people to move to the area. As a result, house prices are expected to rise in the coming years.

The Sunshine Coast is one of Australia’s fastest-rising property markets, with median house prices jumping more than 47 per cent in the last year. Aside from this, locals are finding it difficult to afford the rising rental payments, which will further push the demand for rental properties. In a future scenario, real estate agents agree that development of new homes is the only solution to meet the demand. So, while house prices are rising, what are the best ways to keep costs down?

The Sunshine Coast’s rental market continues to grow strongly. Although the median house price in Noosa rose by 5.3 per cent in September, the average unit price increased by 15.3 per cent in the past five years. A new record high has been set in Noosa, which also has the fastest-growing house prices in the country. If you’re thinking of buying a Sunshine Coast house, you’ll be glad to know that the rental market in the region is holding up.

The median house price on the Sunshine Coast is expected to rise by 19 per cent in the next year. There are a few reasons why this is. As a result of low interest rates, many people are opting to live in the area. This is because the lifestyle is more desirable and the cost of living is more affordable. It also has the added benefit of being closer to the beach. It is a desirable place for expatriates, which is why its property market is booming.

Despite the housing shortage in the Sunshine Coast, the median house price in Noosa has increased by 19.4 per cent. This is mainly due to the low supply of houses. This means that the prices in Noosa and the Sunshine Coast have become more affordable. The affordability gap between the capital city and the regional area has been narrowed in the past five years. In addition to the housing shortage, the region’s rental market has been growing strong for the last five years.

As a result of the low interest rates, homebuyers in the Sunshine Coast have become more confident in purchasing a property. Moreover, the rental market on the Sunshine Coast has continued to strengthen, as a result of the favourable economic conditions. Consequently, it has become a good place to invest in. There are a few factors that can help make the house prices rise in the area. The region’s economy is in good shape.

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source https://www.sunshinecoastlocal.com.au/why-are-house-prices-rising-on-the-sunshine-coast/