Current Trends in Sunshine Coast Property Prices

February 27, 2024

Market Snapshot: Current Trends in Sunshine Coast Property Prices

The Sunshine Coast property market continues to experience significant upswings. Both house and unit values are appreciating past record highs due to the region’s attractive blend of beachside living and lush hinterland, a lack of supply to meet growing demand, cultural shifts away from major cities, interest from both local and interstate buyers, and so much more.

Given that it delivers such a higher quality of life for residents, Sunshine Coast property prices will likely continue to rise, albeit at a slower pace, leaving those hoping to relocate to the area struggling to find affordable options in some of the most popular areas. 

Fortunately, there are opportunities out there.

Amidst such a vibrant market, Harmony by AVID stands out as an award-winning, master-planned community that perfectly encapsulates the essence of Sunshine Coast living at affordable prices. Acclaimed as Australia’s Best Master Planned Community, this new, exciting development offers a unique blend of village-like community spirit and beachside serenity to people from all walks of life.To give you more context on Sunshine Coast properties for sale and how the market in the region will likely fluctuate in 2024, our experts have compiled a range of key insights that will help investors and homebuyers.

Sunshine Coast Property Market Analysis

The back end of 2023 saw the values of properties for sale in most parts of Queensland – including the Sunshine Coast – climb to truly unprecedented heights, surpassing even the high benchmarks set in the post-COVID period of early 2022. 

We can easily attribute the rise to the area’s unique lifestyle offerings. So many people want to break away and take advantage of the region’s stunning natural beauty, ranging from pristine beaches to lush hinterlands, as well as the abundance of modern amenities like shopping centres, gourmet dining, and cultural events. 

According to data published by Ray White, there has been a notable increase in Sunshine Coast property prices for both house and unit options, with certain suburbs near the coast and in the hinterland experiencing particularly significant price surges. Further insights from SQM Research shows that moving into February 2024, the average price for houses on the Sunshine Coast is $917,740, which is higher than the national average of $904,855. Similarly, unit prices on the Sunshine Coast were $725.835, considerably higher than the national average of $532.944.

SQM Research Weekly Asking Prices Index
Week ending 20 Feb 2024  ($) Rolling quarter 12 month 3 year 7 year 10 year
% change % change %(pa) change %(pa) change %(pa) change
Sunshine Coast All Houses 912.74 2.1% 3.7%  13.3% 8.3% 6.9%
3 br Houses 799.00 1.1% 2.7% 15.8% 8.7% 6.90%
All Units 725.84 7.0% 10.9% 17.3% 9.5% 7.90%
2 br Units 675.54 8.1% 12.5% 16.0% 9.2% 7.60%
Combined 866.71 3.1% 5.1% 14.1% 8.5% 7.10%
SQM Research, Weekly Asking Property Prices, Region: Sunshine Coast, February 2024

A key factor in the rising prices for the property for sale on the Sunshine Coast and neighbouring hinterland is the limited availability of homes coupled with a growing population moving into the area. A slew of rising construction costs is exacerbating the issue, particularly in the southeast, pushing more people to purchase existing homes rather than build new ones.

What Will Happen to Sunshine Coast Property Prices in 2024?

Market experts predict the Sunshine Coast property market will experience further price growth in 2024, albeit at a slower pace, due to economic factors like potentially falling interest rates and stabilising inflation. Supply constraints, particularly low housing stock, will likely lessen as the cost of finance will balance against the cost of construction. 

AVID Harmony’s Value Proposition

Situated conveniently between the white sands and the green hinterland, Harmony by AVID presents an ideal balance of outdoor living, convenience, modern amenities, and affordable opportunities. 

Located in Palmview, Harmony spans eight distinct neighbourhoods, each with its own sense of character, ranging from nature-infused streets to more developed areas near the future town centre. We are regularly celebrated for our commitment to sustainable living practices, holding a prestigious 6 ‘leaf’ EnviroDevelopment certificate, and we help eager homeowners and investors alike find a property for sale on the Sunshine Coast that won’t break the bank, including limited land plots, diverse house and land packages, and the luxury terrace homes by VillaWorld Homes, offering a modern lifestyle amidst nature. 

This blend of luxury, sustainability, and community appeal makes Harmony a coveted destination in the Sunshine Coast hinterland.

Investing in Sunshine Coast Properties for Sale

Considering purchasing an investment property on the Sunshine Coast? By selecting the right properties for sale, you can open your investment portfolio up to a range of substantial long-term benefits. 

Let’s first look at the appreciation potential of the property. Given the region’s growth, driven by factors such as increasing demand, limited supply, and natural and lifestyle appeal, experts suggest a continued upward trend in property values well into 2024. 

Secondly, the Sunshine Coast has seen a trend where newcomers often choose to rent before buying property, leading to increasing pressure on the rental market’s available properties, and average weekly rents rising significantly. Low vacancy rates and high demand result in strong yields for investors across various suburbs and property types, with certain areas showing notably high median yields. Harmony, with our award-winning master-planned community, aligns well with this growth trajectory. Our blend of sustainability, modern amenities, strategic location, and diversity of housing options cater to a variety of investor preferences, making this development an attractive choice for an investment property on the Sunshine Coast.

AVID Harmony: Proximity to Paradise

Looking to make a coastal getaway and relocate to the Sunshine Coast? Interested in an investment property within one of the nation’s most sought-after communities to grow your portfolio?

AVID Harmony provides exceptional value for money and unmatched community living heading into 2024. Comprehensive amenities, prime location, unique lifestyle, future town centre, expansive open spaces, recreational parks, excellent connectivity, multiple housing options – all of this and more contribute to a balanced, vibrant experience! 

Explore the available properties for sale on the Sunshine Coast within Harmony today, or feel free to contact our sales team with any questions, and we will be happy to get back to you with all the information you need as soon as possible.