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July 2024 Property Market Update for Noosa and the Sunshine Coast

As the new financial year begins, we’re seeing a noticeable uplift in activity across Noosa and the Sunshine Coast. This trend aligns with the seasonal patterns we’ve observed in previous years and reflects renewed confidence among both buyers and investors.

Through our daily conversations with selling agents, mortgage brokers and valuers, we’re seeing a clear increase in enquiry levels, particularly from investors re-entering the market. As experienced buyers agents, this shift highlights the evolving dynamics of the local property market and the growing demand for informed, strategic advice.

While demand remains strong in premium coastal suburbs such as Peregian Beach, Sunshine Beach and Noosa, we’re also seeing the Noosa Hinterland continue to grow in popularity. At the same time, strong buyer activity persists further south in Buderim, Moffat Beach and Buddina, attracting discerning purchasers seeking lifestyle and long-term value.

International interest is also returning, particularly from expatriates. We’re currently working with buyers relocating from the UK, Singapore and the United States, adding a new layer of complexity and opportunity to the Sunshine Coast property market.

Despite ongoing discussion around potential interest rate increases, industry sentiment points to renewed confidence. The combination of high-end luxury listings entering the market and anticipated future development continues to support a diverse and resilient property landscape.

In established suburbs, we’re seeing a growing price gap between renovated homes and properties requiring significant work. This reinforces the importance of carefully assessing replacement costs and renovation feasibility before proceeding, particularly in higher-value locations where margins matter.

Recently, we assisted a local family in securing their ideal home in one of the Sunshine Coast’s most sought-after suburbs through an off-market transaction. By working closely with a local selling agent, we were able to achieve a discreet and successful outcome for both parties. This highlights the value of engaging a local buyers agent on the Sunshine Coast, particularly when accessing off-market opportunities.

Looking ahead, the market continues to present opportunities for buyers considering investment, relocation or lifestyle-driven purchases. With winter drawing to a close and the typical September increase in new listings approaching, we expect a rise in available stock and buyer activity across the region.

According to the Sunshine Coast Council, the local population grew by more than 79,000 people between 2011 and 2021 and is forecast to exceed 540,000 by 2046. To support this growth, more than 234,000 dwellings will be required, reinforcing the long-term demand fundamentals of the region.

If you’re considering your next move in this evolving market, we’re here to provide tailored insights and guidance. Get in touch to discuss opportunities aligned with your goals or to book a confidential chat with our team.

*Sources: Queensland Government population projections, 2023 edition; Australian Bureau of Statistics, Regional population by age and sex, 2021. Queensland Government household and dwelling projections 2023 edition; 2021 dwelling figures sourced from Australian Bureau of Statistics, 2021 Census of Population and Housing.

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    jason baron from the property baron