Sunshine Coast region on the rise

Sunshine Coast region on the rise

With the Sunshine Coast market on the improve, and the first start sod turned at the new Sunshine Coast University Hospital site, the coast is looking towards the future.

Sunshine Coast mayor Mark Jamieson has hailed the turning of the first sod at the site of the Sunshine Coast University Hospital as the dawn of a new era for the region.

Mr Jamieson joined Premier Campbell Newman, local member and Attorney-General Jarrod Bleijie and builders Exemplar Health to mark the milestone.

“This project ticks all the right boxes; more jobs, a stronger economy and improved health services,” Mr Jamieson said.

“The hospital will be the centre piece of the Oceanside Kawana Health Precinct, which will provide the biggest economic boost in the region’s history.

“It will inject more than $680 million a year into the local economy with the flow-on effect to benefit local businesses.’

According to REIQ December quarter data, the numbers of house sales were up 27 per cent on the Sunshine Coast compared to the same period in 2011.

Over the quarter, the Sunshine Coast’s median house price decreased by 0.2 per cent in the December quarter to $429,000.

REIQ Sunshine Coast zone chair Lloyd Edwards said market conditions generally are faring well, with a very upbeat and positive sentiment in the marketplace.

“We are seeing more completed sales, most likely due to buyers being frustrated by the tight rental market conditions in the region,” he said.

“The month of December saw uncharacteristically high activity despite the dramatic decrease in properties coming onto the market as interest rates reduced their holding costs.”

The beach community of Buddina appears to be back in favour with buyers with its median house price increasing by 14.9 per cent over the year ending December, possibly attributed to the varying number of waterfront properties sold.

According to suburb profiles on reiq.com, Buddina comprises a good mix of residential property including low-set brick and tile homes, building units, prestige properties with ocean views or located in the canal development shared with the neighbouring suburb of Minyama.

Mr Edwards said the slab being poured and works commencing on the highly anticipated Sunshine Coast hospital development had also had a hugely positive effect on the region and its future economic position.

The REIQ December quarter median unit and townhouse price for the Sunshine Coast increased 1.1 per cent to $328,500. Over the year ending December, Mount Coolum posted a median unit price increase of 4.5 per cent.