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6:15AM Monday 08 September, 2008 Sunshine Coast weather Mostly sunny min 11° - max 23°

Buyers swoop on new Sunshine Coast units

12:00a.m. 3rd July 2008

New figures show the Sunshine Coast has enough new units to meet demand at existing levels for the next 18 months.

A report by PRDnationwide shows that cashed-up buyers swooped in the March quarter, picking up 112 of the Coast’s 798 new units at an average price of $731,830.

The volume of sales was 60% up on the corresponding period last year, but the average price fell by more than 14%.

Forty-seven per cent of units sold were priced between $650,000 and $899,000, and 33% were in the $450,000 to $649,000 price bracket.

Just 5% of sales were under $450,000. Units in this price bracket were snapped up.

PRD’s Sunshine Coast Research analyst, Lachlan Walker, said the results reflected continuing strong demand.

“This level of demand, combined with first- home buyers and owner occupiers seeking two and three-bedroom apartments, has led to the success of the more affordable options through this period of slower growth,” Mr Walker said

Almost half the units purchased were in the former Maroochy shire, followed closely by Caloundra, which accounted for 40% of sales.

Recent Comments

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Posted by Pescadero from Coolum
on 3 July, 2008 at 9:30 a.m. ( Suggest removal )
"New figures show the Sunshine Coast has enough new units to meet demand at existing levels for the next 18 months" and "Just 5% of sales were under $450,000. Units in this price bracket were snapped up. "

Huh?!!!!

Do we need any more proof that the private sector is not interested in providing affordable housing?
Well, maybe 5 % interested.....
Posted by redneck from sippy downs
on 3 July, 2008 at 9:44 a.m. ( Suggest removal )
Mr Walker, "GET REAL" how many first home buyers could afford to purchase units between $899.000 and $450.000.
Most of these properities will have been bought by investers who will use the rents received to pay off the morgage. Good luck to them!
I don't know where you get your research figures from put these sales will do nothing to reduce pressure that renters are currently feeling with rates, petrol and food cost continuing to increase.
The 5% sold for under $450.000, hopefull most of these will be to first home buyers.
Posted by Eugene from Doonan
on 3 July, 2008 at 10:25 a.m. ( Suggest removal )
If politicians have to declare INVESTMENT share holdings as a matter of record; then do they in turn have to declare INVESTMENT property ?

There may be a conflict of interest when debating and voting on policy.

Is there a difference ?
Posted by localgirl from caloundra west
on 3 July, 2008 at 1 p.m. ( Suggest removal )
where do people get there money from.
I am amazed that people can afford to pay that price for a unit. the repayments would be huge.
I work and my partner works and our incomes together still would not be able to buy a unit for $400.000 the repayments would be around 600 per week or even more.
Real estates have put these prices up they are to blame.

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