A high volume of homeowners and investors leads to a climate that supports additional price increases until the supply catches up. Lockdowns may have put a temporary halt to this. With Sydney and Melbourne in lockdown, the Brisbane property market has been the star performer with increasing values in price as well as an increase in demand.
Quarterly update: Sunshine Coast Market
The pandemic appears to have had no negative influence on the Sunshine Coast housing market, as home prices have continued to rise throughout the year. Mark Lawler, principal at Richardson & Wrench Coolum, states that there has been an increase of 38% when we compare this quarter to last year. Because of its attractiveness, affordability, and future economic prospects, the Sunshine Coast offers one of the best options for capital growth.
Summary of Property market wrap 2020 quarter and 2021 quarter
- In 2020 the average sale quarter amounted to almost $870,000 compared to this year where we see a high average sale price
- In the year 2020, there were 41 total sales, this quarter the total sales rose to 56 sales
Incredible figures but will the market be steady?
The answer is unknown. Experts predicted a market crash last year, but it did just the opposite. The key during these times is making it convenient for interstate buyers as COVID-19 appears to be putting a lot of pressure on those trying to leave the city. Mark advises that the best time to sell is when the market is on the rise which leads to more competition and more buyers.
The Sunshine Coast market is undeniably on the radar of home buyers and investors from near and far, with the best options being picked up swiftly, a trend that is only expected to continue next year. Understandably, there is a great deal of caution around investment at this time, but following careful consultations with R&W Coolum, this risk could end up paying off.
Check out our video a wrap of the market explains all the details you need to know about the market this quarter
Yes, the markets are changing constantly, but not every property will appreciate in value. Proper property selection is more important now than ever before. You can trust the team at R&W Coolum to provide you with direction, guidance, and results.