New research puts Sunshine Coast on hot-spot list
3 June, 2013
After five long years of decline, it seems the Sunshine Coast property market is now turning the heads of those in the know.
Three different reports by independent real estate gurus, Michael Matusik, Diana Howes and Terry Ryder, all earmark the region as an investment hotspot naming a series of big-ticket infrastructure and development items and a surge in tourism as the catalysts for growth.
Creator of Hotspotting.com.au, Terry Ryder placed the Sunshine Coast among his “Top 10 Queensland Hotspots” in his May report. He said the list is a guide to buyers wanting to invest in regions with above-average growth in the medium to long-term.
“I’ve been a long-term resident of the Sunshine Coast region but have never been able to include it in a top-ten hotspots list because, frankly, the market has stunk for years,” Mr Ryder said.
But it appears the tide is turning thanks to major investment into the region.
“Nothing generates property price growth like major new infrastructure, which generates jobs, economic activity and improved amenity for residents,” Mr Ryder wrote in his report.
“The big-ticket item is the $2 billion Sunshine Coast University Hospital, now under construction. Also the Sunshine Coast University continues to expand, with a $37 million engineering learning hub the latest project to be announced. The combination of medical and education facilities is always powerful in driving real estate demand.”
Director of Matusik Property Insights, Michael Matusik also agrees that these developments were landmark catalysts or “game changers”.
“The Sunshine Coast has been growing by around 7,000 new residents each year. This growth is forecast to continue with approximately 33,000 new permanent jobs anticipated as a result of four major infrastructure projects now moving forward,” Mr Matusik said.
The projects Mr Matusik refers to in his report are the Sunshine Coast University Hospital (10,000 permanent jobs), Stockland’s new town centre (10,000 jobs), the Maroochydore Principal Activity Centre (8,000 jobs) and the Maroochy Airport (5,000 jobs). These job estimates are based only on the new jobs created on completion of the projects and exclude the construction jobs that will be created during their development.
In another report, Resolution Research Strategists’ Diana Howes said that by 2014, the median apartment price in Maroochydore was forecast to grow by $24,000 to reach $352,000 from its existing value of $328,000. The report also predicts rental increases.
“By 2014, based on historical data, median weekly rents of two bedroom apartments are forecast to reach $365 per week (up $65 per week on current values) and three bedroom apartments are forecast to grow by $50 per week to reach $400,” Ms Howes wrote.
And it seems the good news has gone straight to the ears of keen investors. Reed Property Group’s Jason Kollanyi said his team was fielding calls from prospective buyers across the country.
“A seal of approval from real estate experts such as Michael Matusik, Terry Ryder and Diana Howes is invaluable to building confidence in the local market,” Mr Kollanyi said.
“We certainly agree with these experts and the great sales in recent weeks at Emporio in Maroochydore reinforce these findings with many apartments being snapped up by investors who see the potential of the area.”
“We believe the market has turned on the Sunshine Coast and with the major infrastructure projects continuing to kick-off, we don’t anticipate it will slow down anytime soon.”
For an appointment to visit the Emporio sales suite, please call Reed Property Group sales executive, Nick Criss on 5451 8500. For retail and office leasing enquiries, please call Reed Property Group assistant development manager, Lisa Dwyer on 5451 8500.
For more information on Emporio apartments which are priced from $267,000, visit www.emporio.net.au or visit Emporio’s Facebook and Twitter pages for the latest updates and photos.
Ends.
Media contact: Maya Gurry – Fresh PR & Marketing
P: 0410 109 102 E: maya@freshprm.com.au
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