Following the shelving of a controversial land tax plan, southeast Queensland is back on the radar of property investors, said the co-founder of the first national network of buyers agents in Australia.
Pete Wargent of BuyersBuyers noted that it has been a highly uncertain period for prospective investors in the state, with many putting their plans on hold or looking to invest elsewhere nationally.
“Southeast Queensland is usually the most popular choice for interstate investors, and now we expect that to continue, which should help to take some of the pressure off extremely tight rental markets,” he said.
“On the Sunshine Coast, buyer sentiment is significantly cooler than it was a year ago, and there is no scope to negotiate much more forcefully on both price and terms for investment-grade properties.
Pete Wargent, BuyersBuyers
Pete Wargent, BuyersBuyers. Image – LinkedIn.
In light of this Doron Peleg, BuyersBuyers CEO, noted that there are excellent
opportunities emerging for investors looking at houses on the Sunshine Coast, using the company’s Where to Buy property market research tool.
“It’s important to remember there are always
properties worthy of consideration below the median price for the suburb in question,” he added. Top 10 Sunshine Coast suburbs for investors
Suburb Region Postcode Property Type No. of Properties Median Price ($) Tewantin Sunshine Coast 4565 House 3,876 $1,149,546 Maroochydore Sunshine Coast 4558 House 3,478 $1,109,515 Nambour Sunshine Coast 4560 House 3,428 $740,012 Mountain Creek Sunshine Coast 4557 House 3,315 $1,068,943 Bli Bli Sunshine Coast 4560 House 3,000 $972,608 Peregian Springs Sunshine Coast 4573 House 2,640 $1,184,546 Slippy Downs Sunshine Coast 4556 House 2,561 $910,386 Beerwah Sunshine Coast 4519 House 2,400 $851,487 Currimundi Sunshine Coast 4551 House 2,314 $1,001,372 Palmwoods Sunshine Coast 4555 House 2,002 $976,988 Source – BuyersBuyers Where To Buy report
“Borrowing capacity has fallen for many borrowers this year, and this is pushing some buyers down into lower price brackets than they might have previously looked it, driving an increased interest in townhouses and units,” Mr Peleg said.
“Generally speaking, though, detached homes are the property of choice for buyers on the Sunshine Coast with the requisite budget.”
SQM Research data shows that asking prices have risen sharply on the Sunshine Coast since last year, having been relatively flat for much of the decade.
Mr Wargent added that their top 10 list includes a range of
suburbs where buyers have strong bargaining power. “Vacancy rates are low in the suburbs we have picked, and there is very little risk of imminent oversupply in most areas as population growth from overseas migration picks up rapidly, and the coast continues to be a strong drawcard for those attracted by the outstanding lifestyle on offer.”
Sunshine Coast market has been a strong performer in recent years, but it’s in a bit of a downturn phase at the moment. To get a strong result over the next decade out to the Brisbane Olympics in 2032 it’s really important to buy the right property, and at the right price” Mr Wargent said.
For other recommendations form BuyersBuyers, check out the
top 10 suburbs for Brisbane and the Gold Coast.