SUNSHINE COAST HOUSING MARKET BOLSTERS CONFIDENCE
July 14, 2023
The Sunshine Coast property market is going from strength to strength and with the Reserve Bank of Australia having cut interest rates for the first time in three years to 1.25 per cent, now is the right time to secure your piece Harmony.
We know that buying and building a home is an exciting new adventure and as a home buyer it can be confusing to navigate the everchanging market. This RPS report on the Sunshine Coast’s Economic and Housing Market provides an insight into the current economic landscape on the Sunshine Coast.
The coast is fast becoming one of the most desirable locations in the sunshine state with a projected population surge at an annual rate of 2.5 per cent to half a million by 2040*. This is due to the dynamic Sunshine Coast housing market meeting the needs of multiple segments including interstate migrants, local residents, retirees and young families.
As a result of this growth the Coast has seen a strong pipeline of infrastructure projects pop up in the region. These significant developments include the Sunshine Coast Health Precinct, an expansion to the Sunshine Coast Airport, an international submarine cable and upgrades to the Bruce Highway.
These projects bring with them a wave of skilled professionals to the area, boosting employment rates in line with the Queensland average of six per cent per annum* — further increasing housing demand and in turn boosting the local market.
These strong economic fundamentals support prices and provide a strong foundation for increased market growth on the Sunshine Coast in coming years. Positive commentary in the media from industry expert’s post-election is another contributing factor to the regions continued success which is great news for home buyers.
Harmony has also been experiencing great visitation numbers to Harmony Display World and we have also seen an increase in land enquiries and leads.
We couldn’t be more excited about growing community on the Sunshine Coast, which is expanding by the day. We now have more than 450 families and are expecting to welcome our 500th family by the end of July.
If you’d like to know more about the current market on the Sunshine Coast or the Harmony community in Palmview, please don’t hesitate to stop by the Sales and Information Centre or give our team a call on 1800 550 240.
* Source: Sunshine Coast’s Economic and Housing Market, RPS, April 2019