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QLD's Coastal Markets continue to heat up

07 Feb 2017 | Source: Your Investment Property

Queensland’s coastal markets have once again outperformed the state capital, according to the Real Estate Institute of Queensland’s (REIQ) Queensland Market Monitor for December 2017.

The Gold Coast, Sunshine Coast, and Noosa all finished 2017 with the strongest growth in the state, significantly outperforming Brisbane.

The Sunshine Coast’s median house price grew 6.4% to end the year at $569,000, while Noosa grew 6.2% to deliver a new annual median house price of $650,000.

Antonia Mercorella, CEO of REIQ, said Noosa was an area where demand was placing great pressure on limited supply levels.

“This is an area that could do with more supply, but clearly the topography makes that challenging,” she said.

"Noosa’s world-class beaches, stunning natural bushland settings and wonderful warm community are factors that are fanning the flames of buyer demand. It is inevitable that this will push up prices.”

Brisbane's property market grew a modest 2.6%, ending 2017 with a median house price of $665,000.

While growth levels in premier coast markets are stronger, Brisbane is the only market to have a $2m suburb. Teneriffe, which has about 400 houses, ended 2017 with a median house price of $2.4m. If current growth levels continue, the suburb could reach an annual median of $3m in 2019.  

To learn more about selling on the Sunshine Coast, give the team at First National Coastal a call today on 07 5443 3377 or 07 5444 0800.