Happy New Year! It is great to be back out and about in the market after spending some much needed downtime with friends and family… although, it is hard to call it downtime in real estate – ‘the industry that never stops’. While we still kept the phones handy and were running opens and inspections all holidays, we did enjoy a slower pace than we have experienced over the last chaotic two years.
The property market on the Sunshine Coast has certainly been running hot since the onset of the pandemic, yet as we entered the last quarter of 2022, we finally saw a softening which has been attributed to consecutive interest rate rises and rising inflation. That softening has not proven to force significant downward pressure on housing prices, but we have seen a slight increase in the average number of days on market and a relaxation on the buyer competition for property.
Locally we are excited about what this year has to offer in terms of residential real estate outcomes as we continue to strengthen our sales and property management teams with systems, processes and knowledge. We aim to have a 100% satisfaction rate and to live by our motto of ‘We Put You First’ by going the extra mile and doing what we know will achieve the best outcomes for our clients.
Over the break, realestate.com.au announced their inaugural ‘Hot 100’ which identified and named hot suburbs forecast to perform well in 2023. We were pleased to note that three Sunshine Coast suburbs were acknowledged and with no surprise to us Sippy Downs was amongst the top performing predictions.
The list was compiled by industry experts including buyers agents, researchers, academics along with cutting edge PropTrack data and economic analysis. The attributes assessed to find the best investments included affordability, amenity, family appeal, location, investment prospects, gentrification, population growth, demographic change and infrastructure.
Sippy Downs was nominated due to population growth, amenity and investment prospects. The ever growing and popular suburb is home to the University, is close to national park and is just a short drive to beaches and the Maroochydore CBD, ensuring it ticked a lot of boxes. With a 13% increase in value across 2022 and a median house price of $810,000 – Sippy Downs is a very appealing suburb for first home buyers, families and investors alike.
The other two Sunshine Coast suburbs that made the Top 100 list was Bli Bli and Nambour. Bli Bli acknowledge for its low vacancy rates and good rental yields, along with the population growth and attractive semi-rural feel. In Bli Bli the median house price as at December 2022 was $871,000 and the growth suburb experienced a 19% median increase in value heading into December. Nambour on the other hand was a standout due to the economy strengthening in the area, with population forecast to grow as job creation becomes a central focus for the township. The affordability of Nambour put it ahead of pricier Sunshine Coast suburb, while the median house price finished up at $685,000 and the median value increase at a whopping 23% for 2022.
From our perspective, we don’t need to make a Hot 100 list to know that property on the Sunshine Coast is amongst the best and most sought after in the country. While we are the leading agency in Sippy Downs, we like to remind the community that we service the entire Sunshine Coast with a fresh approach and a commitment to results.
If you have been considering selling, we would love to support you in that journey. We can start you off by providing an obligation free appraisal to give you an indication of what your property is worth in the current market and then we can work with you to tailor a plan that suits your needs, expectations and time frame.