Articles in the Courier Mail, based on research by PropTrack, highlight the robust house and land market in Queensland, with Brisbane’s average price approaching Melbourne’s figures. PropTrack recently reported that Brisbane home valuesrose by another 0.17% in January, reaching a new peak of $794,000, just $5000 less than Melbourne. Prices in 11 Queensland housing markets are still ascending or at their peak, as demand for property continues to outstrip supply in the Sunshine State.
The Reason? Low vacancy rates, high buyer and renter demand, and damage to properties resulting from recent natural disasters have combined to create a perfect storm of pressure on the Queensland property market, according to the latest Herron Todd White (HTW) Month-in-Review report. No QLD housing or unit markets were considered to be “declining markets.”
Incredibly, Brisbane, the Gold Coast, and Sunshine Coast are still at the “start of recovery” after the short-lived downturn in 2022 and monthly price rises since then, according to the report. Home values in the River City are now 57.8% higher than they were at the start of the pandemic in early 2020, according to PropTrack. No housing or unit markets were considered to be “declining markets.”
Our population is booming with a swathe of interstate arrivals coming to resettle here. Queensland already enjoys disproportionate rates of population growth compared to other states and territories, but throw in the record numbers of overseas immigrants and returning expats coming to Australia, and you can see that things won’t slow down.
It’s a similar story on the Sunshine Coast, where supply and affordability will be the big issues going forward. “Sunshine Coast properties were cheaper than our southern capital city cousins of Sydney and Melbourne… and by some way,” HTW Sunshine Coast director Stuart Greensill said. “This is no longer the case as we run near price parity with Melbourne, and the gap has narrowed to Sydney.”
Positive Income Properties Burnside Hills Estate Sunshine Coast
We have been issued 6 new Multiple Dwelling Dual Key homes that feature 260 square meters of turnkey completed luxury that is perfect for large families, multigenerational, SMSF investors, Air BNB, or just couples looking for a forever home. Expressions of interest are being taken now as these large homes on spacious blocks will not last long based on the supply and demand for Sunshine Coast residential property.
Call or email us to discuss Burnside Hills Estate Sunshine Coast.
Gil Elliott
M: 07 5408 4151
Gil Elliott is the Managing Director and Founder of Positive Income Properties. Gil has a rich background in business consulting and property investment. All of these he gained in his nearly four decades of experience in the real estate and marketing industries.
