With more than 21 years' experience at the Daily, Erle Levey is dedicated to presenting a fair and accurate overview of the Sunshine Coast property market. Having been through the busts and
the booms, he has the benefit of hindsight - and an unshakeable belief in the future of
the region. Units and townhouses are back in fashion
| Erle Levey
It seems that everyone is looking for some consistency ... no, I’m not talking about the way the NRL judiciary handled the Cameron Smith case in the lead-up to this week’s rugby league grand final.
The property market at the moment is perhaps best described as being fickle ... not patchy ... as different results are coming in from different areas.
While some agents are being run off their feet with first home buyers, others are recording strong sales in the higher end of the market.
Ray White director for Maroochydore, Buderim and Coolum offices, Brett Graham said many new home buyers had shown an interest in entering the market in the past few weeks.
This was not only due to the drop in interest rates and the relaxation of stamp duty on first homes, but the realisation they weren’t competing against investors and speculators, giving them more choice of property.
The interesting thing is the way units and townhouses are being warmed to again by owner-occupiers after being considered for many years to be only suitable for rentals.
Affordability, good design and proximity to shops, services, transport and recreation areas are the main drivers of this resurgence.
In coastal areas it is the lure of the beach yet units and townhouses are now becoming a significant part of the railway towns as well.
The REIQ’s June quarter figures for units and townhouses show the market has held its ground during this year’s tougher economic conditions.
Yet look over the five-year period and the gains in some areas have been quite extraordinary.
Nambour’s median price for units and townhouses has risen 153% to $225,000. Mountain Creek by 115% to $317,500, Warana 97% to $325,000 and Buderim 81% to $360,000.
Price has been one factor but also the improved product being delivered into those markets. Suddenly people are realising places such as Beerwah, Yandina and Cooroy have a lot to offer in the way of lifestyle as well as affordability.
They also have the benefits of transport links – the railway and the highway.
It wasn’t that long ago that the real estate agent’s term of being “close to transport’’ meant you were next to a freeway. Now it is a must have. And the same goes for bus routes, bike paths and walkways.
With the financial turmoil overseas and fluctuations in the stock market generally you would expect to see a surge in property investment. And that’s what has been happening in the rural areas with significant sales being recorded in the higher price ranges – $700,000 and over.
Penny Neep at Ray White Doonan and Murray Brown at hinternoosa.com.au at Cooroy see it as people seeking security or some say in their quality of life, control of their destiny.




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