The Rise Of The Sunshine Coast: The growth of Infrastructure, Employment And Population
July 14, 2023
We often hear about first home buyers looking to enter the market in or around major cities, but one region that’s becoming a major property hub is the Sunshine Coast. With a raft of new infrastructure projects – thanks in part to South East Queensland’s bid for the 2032 Olympic Games – as well as steady population growth and a healthy economy, the Sunshine Coast has turned into the ideal place to start your journey of home ownership.
A Social Hub On The Coast
Harmony is one of the latest master-planned development communities on the Sunshine Coast. It’s turned an old farm into a social hub with all the convenience of fantastic amenities – such as cafes and green parks for the wider community, and resident-exclusive yoga and fitness classes – as well as close proximity to stunning coastal beaches.
So aside from residential developments, what major changes are setting the Sunshine Coast apart from other areas of Queensland?
A Raft Of New Infrastructure Projects
While plenty has been said about the Sunshine Coast’s participation in the 2032 Olympic bid, there have already been a number of region-building ventures in the works for years. According to the Sunshine Coast council, residents and newcomers to the area can expect:
– The development of Australia’s only greenfield city centre within an existing urban area at Maroochydore.
– A Sunshine Coast Airport expansion that will deliver direct access from more destinations – both from Australia and internationally.
– The development of one of the largest health infrastructure precincts in Australia (the 17-hectare Health Precinct) right next to a new $1.8 billion tertiary teaching hospital campus.
– Major new residential and commercial developments and precincts across the entire Sunshine Coast region.
– A business, technology and retail precinct adjacent to the University of the Sunshine Coast, one of Australia’s top-ranking universities.
– Delivery of international broadband submarine cable infrastructure to provide Australia’s east coast with greater data connectivity.
Employment Opportunities Abound
It goes without saying that the aforementioned infrastructure projects are a major boon for the Sunshine Coast, with new jobs created across industries like construction, aviation, planning and development. This job creation could potentially draw new people to the region seeking work. With most of the projects lasting several years, a surge in the Sunshine Coast’s population will likely inject cash into the economy and could have a number of flow-on effects into the property market, small businesses and of course employment opportunities.
But the Sunshine Coast is already in a fantastic position in terms of employment. Of the residents eligible to work in 2016, 57% worked full-time and 42% worked part-time. The overall employment rate was also higher than that of the Greater Brisbane area, and in the five years previous there had been a surge of close to 16,000 fully employed people on the Sunshine Coast.
Considering the proposed infrastructure and expansion projects for the Sunshine Coast, that population trend is expected to continue for at least the length of time that the projects run. For home buyers looking to live close to work – as opposed to commuting long distances, such as to Brisbane or the Gold Coast for employment opportunities – that may mean seeking out homes for sale, such as in new residential developments.
A Diverse And Inclusive Population
The Sunshine Coast has the benefit of being a major region with the freedom of a more relaxed lifestyle. As Australia’s ninth most populous area, there’s a huge diversity of people and places.
The local tourism industry also that means the Sunshine Coast continues to maintain a thriving economy – propping up small and big businesses alike, and generating a healthy property market that welcomes new buyers in master-planned communities and established suburbs.
Considering the current and planned infrastructure developments for the Sunshine Coast, population and economy growth are looking healthy for the foreseeable future, based on the Sunshine Coast’s 20-year economic plan. If their predictions come to fruition, now could be the ideal time to buy a home in the region.
Central to everything the Sunshine Coast has to offer, Harmony perfectly encapsulates the desirable coastal lifestyle. Boasting a unique casual culture that is also genuine and welcoming, living at Harmony means you are part of a connected community.