Sunshine Coast Real Estate Recovery
The Sunshine Coast is up to 17% for the March quarter, with some suburbs experiencing slight price raise. This figure has been released June quarter by the Real Estate Institute of Queensland. This is have been persuaded and declared by REIQ Sunshine Coast chairwoman Jean Hamer that all the signs for continuing growth were positive.
The Chairwoman also said positively that “What these latest figures show is that the boosted first home buyer’s grant has stimulated the market at the lower end, and low interest rates have also got investors back into the property market,” Ms Hamer said.
“Earlier this year, there were not many sales over $500,000 across the Coast, but that is changing. There are more and more buyers starting to look for properties in the $600,000 to $800,000 bracket.”
Palmwoods experienced the largest median house price increase in the year from June 2008 to June 2009, jumping from $595,000 to $707,600 – an increase of 18.9%.
Mount Coolum was not far behind, the median house price increasing by 12.3%,
from $430,000 to $483,000. The biggest median price fall was at Yaroomba, where the price went from $575,000 to $450,000 – a drop of 21.7%. Peregian Beach’s median house price fell from $677,500 to $550,000 (-18.8%), and Noosa Heads dropped from $787,500 to $646,000 (-18%).
REIQ state managing director Dan Molloy said he was “cautiously optimistic” the worst of Queensland’s real estate slump was over.
