Challenges in investing in real estate in Sunshine Coast, Australia

In the first quarter of the current year, nearly 1500 properties were sold in Queensland, Australia for value more than Australian $ 1 million. In Brisbane, about 200 properties were sold for more than Australian $ 2 million and about 17 properties for Australian $ 5 million. All these emphasize the gold rush for homes for sale Sunshine Coast wide. Interestingly, Sunshine Coast has witnessed a considerable increase in the demand for condominiums rather than apartments.

homes for sale sunshine coast

An increase in rental:

On the other hand, apart from homes for sale Sunshine Coast market has today, there has been a considerable increase in the median rental for properties. The median rental has increased from Australian $ 1250 to $ 1310 during the last quarter of the current year. Over the years, the overall price of the real estate in Sunshine Coast has registered an increase of about 20%. This trend has been noted in the suburbs of regional cities.

The highest increase in price:

The price of homes for sale Sunshine Coast wide has registered an increase of about 49% which is considered to be the highest in Australia. The spiraling of prices of real estate are attributed to the growth in the economic activities in and around the Sunshine Coast. Apart from the development in tourism, several important industrial units have also been established in the sunshine coast. With the development of infrastructure now, many people from Australia and also from overseas have started relocating to Sunshine Coast resulting in a considerable increase in the demand for homes.

Real estate in Noosa Heads:

Noosa, popularly called as Noosa Heads is one of the cities in Sunshine Coast and it is also very popular on the tourist map of Australia. Several industries and leading business establishments have been established in the Noosa Heads. As a result several people have started to relocate to Noosa either for improving their business prospects or in search of better employment opportunities. Naturally, this has caused a considerable increase in the demand for real estate.

Real estate on auction:

During the last few years, Noosa Heads has witnessed about 30% increase in the demand for both residential and commercial property Noosa wide. In addition to this, many of the properties are also put up for auction every now and then. The real estate firms expect a clearance rate of about 87% in any auction real estate Noosa firms conduct.  In fact, this also has received positive response from prospective bidders/buyers.

Demand for houses:

In regard to residential plots or house sales Noosa wide, the supply is considerably lower as compared to the increasing demand. As in other parts of Sunshine coast, suburbs of Noosa Heads have witnessed a substantial increase in the demand for residential plots.

Bullish real estate market:

All these trends suggest that Sunshine coast will remain a popular destination for investors in real estate. Development of tourism, enhanced commercial activities and heightened lifestyle are all the factors that have contributed to the bullish real estate market in Sunshine Coast.

Reputed real estate firms:

Given this market trend, buying a residential or commercial property in Sunshine Coast can be a challenging task. In order to ensure safety in investment and reasonable quote, you should avail the services of reputed real estate firms like the https://rwnoosa.com.au/. Such firms will ensure that you get real estate property which is valued reasonably higher than what you have paid for.

Etta
About Etta 25 Articles
I am based in Toronto, Canada. I enjoy good music and indie movies.

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