December 22, 2023

Resilience – Recovery – Unlikely Upswing


With the end of the year fast approaching we start looking toward the new year, market conditions in December will likely shape the sentiment within the real estate market in early 2024 and influence the speed at which properties are transacted.

2023 turned out to be a resilient year for the Sunshine Coast property market, experiencing an unexpected upswing while national average house prices declined. The region has asserted its unique standing, remaining an attractive destination for both investors and owner-occupiers. Coastal suburbs are witnessing substantial shifts toward an even higher percentage of owner-occupiers. While rental markets have stabilised in terms of rent values, they continue to maintain exceptionally low vacancy rates with no imminent shift towards favouring renters in the near future.

Current trends suggest that January will be more dynamic compared to previous years. This heightened activity can be attributed to the close attention of buyers, sellers, and investors, to the continuously shifting real estate environment.

The Sunshine Coast is experiencing the largest population growth in Australia, with people moving from both metropolitan and regional areas, leading to a 14.9 per cent rise in the year to March.

This month, the state government doubled the First Home Owner Grant to $30,000 for people buying or building a new home under $750,000 between November 20 this year and June 30, 2025, in addition the Sunshine Coast have reportedly also had some of the biggest uptakes in the country for the federal Regional First Home Buyer Guarantee scheme, which started in October last year.

Overall, the outlook for the Sunshine Coast is positive for owner occupiers and investors, with prices rising, strong population growth and infrastructure investment.

Whether you're a first-time buyer, a seasoned investor, or contemplating selling, our team is here to guide you. Navigating the buying and selling process can be stressful. Chooosing an agent to represent you plays a pivotal role, making a significant difference. Selling involves more than meets the eye, and without the right strategy, it can be costly. Seek out established agencies with a wealth of experience and know-how; the outcomes are markedly different            

Merry Christmas and enjoy the holiday season, and stay safe.