The 6 Coast suburbs cashed-up buyers are after
Six Sunshine Coast suburbs have recorded “supercharged” demand in the past five years on the back of cashed-up southerners spending big.
Analysis from realestate.com.au has revealed the top 10 Queensland suburbs with the biggest movements in price.
Noosa dominated the top 10, including the top five spots, with Noosa Heads’ median house values skyrocketing by 76.8 per cent.
Lavish suburb Sunshine Beach jumped 64.6 per cent, while Yaroomba, Sunrise Beach, Doonan and Moffat Beach all earned places in the top 10.
Gold Coast suburbs Mermaid Beach, Burleigh Heads, Surfers Paradise and Broadbeach Waters rounded out the top 10.
REIQ Sunshine Coast zone chair Matt Diesel said it shouldn’t come as a surprise that Noosa was so high on the list.
It comes after the REIQ’s own report which showed the median house price in the tourist-driven suburb was the highest in the state at $800,000.
Mr Diesel said Noosa had pulling power to draw on international markets as it had a recognisable worldwide brand.
“Noosa is always on the hit list for southern buyers coming up, same with internationals. It’s often the first point of call,” Mr Diesel said.
“The Coast is such a big area, so intricate, they branch out from there.”
Mr Diesel said more waves of southern buyers were expected to flood into the market now that the state’s borders are reopen.
McGrath Noosa principal Matt Powe said Noosa had been the destination of choice for cashed-up Baby Boomers from Sydney and Melbourne over the past five years.
“You have people selling out of those southern markets, suburbs like Mona Vale in Sydney, a home might go for $2.5 million, and buy something similar for $1.5 million in Noosa,” Mr Powe said.
“They’re usually not people who need finance to purchase.
“They’ve spent their youth holidaying at Noosa and keep fuelling it.”
Realestate.com.au chief economist Nerida Conisbee said the Sunshine and Gold Coast markets were attractive for lifestyle buyers.
“If you want beautiful beachfront locations, what you’re getting on the Sunshine Coast is worlds apart in terms of value,” Ms Conisbee said.