Sunshine Coast Property Market Current Climate & Outlook Presented By: Helen Swanson Presented by Helen Swanson QLD Research Director LMW June 2016
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Sunshine Coast Property Market
Current Climate & Outlook
Presented By:
Helen Swanson
Presented by Helen Swanson
QLD Research Director LMW June 2016
Agenda
1. Economic and Demographic Indicators
Major infrastructure Projects
Economic indicators
2. Detached Housing
3. Prestige Market
4. Unit / Apartment Market
5. Outlook
Economic and Demographic Indicators
Major Infrastructure Projects
Sunshine Coast University Hospital Sunshine Coast Light Rail Project
Airport Expansion Project Maroochydore City Centre
Major Infrastructure Projects
Aura Estate Sippy Downs Estate / Palm View
Sunshine Plaza Expansion Caloundra City Revitalisation Project
Population Movement
23,887
25,059
25,591
28,978
30,222
33,818
35,534
36,771
36,739
34,842
35,614
36,180
35,448
35,690
34,237
37,285
33,947
29,369
25,147
23,303
19,081
12,337
5,698
7,678
11,404
6,724
6,897
5,772
27,433
25,304
24,592
31,809
35,360
46,081
59,030
54,646
32,161
38,105
45,306
36,700
33,849
31,377
0 20,000 40,000 60,000 80,000 100,000 120,000
Sep-02
Sep-03
Sep-04
Sep-05
Sep-06
Sep-07
Sep-08
Sep-09
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Persons
Natural Increase Net Interstate Migration Net Overseas Migration
Source: ABS & LMW Research
Queensland population movement
Population Movement – Internal Migration
Region Arrivals Net Migration
Caloundra West 2,273 652
Coolum Beach 1,928 396
Golden Beach – Pelican Waters 1,589 374
Peregian 1,352 324
Mountain Creek 1,627 297
Source: ABS, 3412.0
Internal Migration – Top 5 Sunshine Coast Suburbs Net Migration 2014-15
Economic Indicators - Unemployment
Source: Dept of Employment. Small Area Labour Markets
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
6.50%
7.00%
7.50%
8.00%
Unemployment Rate (%)Dec-10 to Dec-15
SC GC QLD
Residential Vacancy Rates (%)
0
1
2
3
4
5
6
Sunshine Coast Residential Vacancy (%)
SC SD GC SD Inner BrisbaneSource REIQ
Economic Indicators – Population Growth
Current population more than 280,000
Just over 450,000 residents on the Sunshine Coast by 2036
Annual growth 2.3% 2011-2031Compared to 1.9% for QLD
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2011 2016 2021 2026 2031 2036
Sunshine Coast Regional Council Population Forecasts
Source: PIFU, 2015
Economic Indicators – Tourism
Source: Tourism Queensland, YE December 2015
Sunshine Coast Tourism Statistics – YE December 2015
Detached Housing
House Sales
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
0
1,000
2,000
3,000
4,000
5,000
6,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q12016
No
. o
f sa
les
Sunshine Coast House Sales by Region
Sunshine Coast Central Sales Sunshine Coast North Sales Sunshine Coast South Sales
Sunshine Coast Central Median Price Sunshine Coast North Median Price Sunshine Coast South Median Price
Source: Pricefinder
Source: Pricefinder
House Sales by Price Point
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Sunshine Coast Regional Council Detached House Sales by Price Point
Under $400 $400k-$500k $500k-$700k $700k-$800k $800k-$900k $1m plus
Source: Pricefinder
0
100
200
300
400
500
600
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Sunshine Coast Regional Council Detached Prestige House Sales by Price Point
$1m-$1.2m >$1.2m
Prestige House Sales
27 Neerim Drive, Mooloolaba.
Prestige House Sale 2015
Sale Price: $4,000,000 (four million dollars)
Sale Date: 9/10/2015
Features: This is a two level contemporary style residential house that was built circa 2007. It has 5 bedroom(s), 7 bathroom(s) and a 7 car basement carpark and presents well. Features include: high quality fit out including ducted air conditioning, ducted vacuum, home theatre. Site improvements include: tiled swimming pool and 14m pontoon. The land has river frontage of roughly 29m achieving a north easterly aspect. Landscaping is of a very high standard and includes meditation ponds.
The buyer was a local buyer
Prestige House Sale 2015
Features: Arguably one of the best beachfront sites on the Sunshine Coast and one of the more recognised residences in the Caloundra locality, this Spanish Mission styled property occupies a 607 sqm site with very immediate beach and ocean views as well as a extensive panorama taking in views of Dicky Beach Reef immediately to the north and Moffat Headland to the south east. This immediacy of views, a very open north eastern aspect given Cooroora Street extends along the northern boundary opening up this most desired aspect as well as the protection provided by nearby headlands and reefs providing relatively safe swimming makes this one of the most prized trophy allotments in this locality if not the whole of the Sunshine Coast.
Whilst the dwelling appears to have been updated at multiple times during its life, its layout and styling are now dated and it is not considered to fully capitalise on the quality of the site. However, it does provide a good size envelope from which an extensive remodelling and renovation could be undertaken. Of particular benefit, it appears the home has been constructed above current height restrictions. This current height could be maintained if a renovation was undertaken.
2 Cooroora Street, Dicky Beach.
Sale Price: $4,250,000 (four million two hundred and fifty thousand dollars)
Sale Date: 12/11/2015
The buyer was a non-local buyer
Prestige House Sale 2015
This is a two level 'Noel Robinson' designed residential house with weatherboard walls and a colorbond roof that was built circa 2003. It is of very good condition/presentation and has 4 bedroom(s), 2 bathroom(s) and a double garage. Features include: high quality fitout including ducted air conditioning and limestone tiles. Site improvements include: wet edge swimming pool. The site area is 885 sqm. The land is a sloping site with a reasonable building contour. Landscaping is of a high standard. Located in the sought after Little Cove locality and walking distance to Hastings Street.
5 Allambi Rise, Noosa Heads.
Sale Price: $5,750,000 (five million seven hundred and fifty thousand dollars)
Sale Date: 31/10/2015 The buyer was from Victoria
Apartments
Population Movement
0
2,000
4,000
6,000
8,000
10,000
12,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
De
c-9
7
Jun
-98
De
c-9
8
Jun
-99
De
c-9
9
Jun
-00
De
c-0
0
Jun
-01
De
c-0
1
Jun
-02
De
c-0
2
Jun
-03
De
c-0
3
Jun
-04
De
c-0
4
Jun
-05
De
c-0
5
Jun
-06
De
c-0
6
Jun
-07
De
c-0
7
Jun
-08
De
c-0
8
Jun
-09
De
c-0
9
Jun
-10
De
c-1
0
Jun
-11
De
c-1
1
Jun
-12
De
c-1
2
Jun
-13
De
c-1
3
Jun
-14
De
c-1
4
Jun
-15
De
c-1
5
No
. of
pe
rso
ns
Pri
ce d
iffe
ren
tial
Quarter ending
Queensland interstate migration and Sydney vs Brisbane apartment price differential
Sydney vs Brisbane Price Differential Queensland Net Interstate Migration
Source: ABS, REIQ , REINSW & LMW
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q12016
No
. o
f sa
les
Sunshine Coast Unit Sales by Region
Sunshine Coast Central Sales Sunshine Coast North Sales
Sunshine Coast South Sales Sunshine Coast Central Median Price
Sunshine Coast North Median Price Sunshine Coast South Median PriceSource: Pricefinder
Unit Sales
Source: Pricefinder
0
50
100
150
200
250
300
350
400
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Sunshine Coast Regional Council Unit Sales by Price Point
$900k-$1m $1m-$1.2m >$1.2m
Prestige Unit Sales by Price Point
2/23 Hastings Street, Noosa Heads
Prestige Unit Sale
Sale Price: $7,200,000 (seven million two hundred thousand dollars)Sale Date: 31/10/2015
This is a ground floor single level apartment in the '23 Hastings' building with rendered masonry walls that was built circa 2001. It is of very good condition/presentation and has 3 bedroom(s), 2 bathroom(s) and a single garage. Site improvements include: swimming pool. The unit is within a group of similar type units. Landscaping is of a high standard. Living area: 176sqm. Balcony area: 8 sqm with courtyard of 24 sqm. Sale reflects a value of $34,615/sqm of living and outdoor area. Property achieves good ocean and beach views via a northerly aspect. Direct beach access from the rear or courtyard of the property. Arguably a premium sale.
Local buyer
Source: Pricefinder
24%
19%
10%5%
35%
8%
Sunshine Coast Regional Council Investor Buyer Profile Apartments
2015
Local NSW VIC Overseas Brisbane Regional
Top Performing Suburbs – Units
Gross Rental Yields
Source: REIQ & LMW
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
Commercial Market
Office Property Indicators
Sunshine Coast Office Indicators
0.0
5.0
10.0
15.0
20.0
25.0
30.0
Gold Coast and Sunshine CoastVacancy by Precinct (%)
Jul-08 to Jan-16
Gold Coast Sunshine CoastSource: PCA OMR, January 2016
Sunshine Coast Office Indicators
-4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Sunshine CoastAnnual Net Absorption
Jul-09 to Jan-16
Sunshine CoastSource: PCA OMR, January 2016
Industrial Property Indicators
Sunshine Coast Retail Property Indicators
Summary & Outlook
Investm
en
t p
rop
ert
y What time in 2016
Contact details
Independent Valuation,
Research & Property Advice
LMW
ABN 50 102 320 329
ACN 102 320 329
48-50 Sugar Road
Maroochydore QLD 4558
AUSTRALIA
Telephone 07 5414 1401
www.lmw.com.au
National Offices
Sydney 02 8823 6300
Melbourne 03 9614 6611
Brisbane 07 3226 0001
Parramatta 02 9354 0800
Wollongong 02 4228 0276
Gold Coast 07 5634 7101
Sunshine Coast 07 5414 1401
LMW Research can provide tailored
property research across all property
markets.
Visit our website at www.lmw.com.au for
information. Or email:
Disclaimer
No part of this research report or any reference to it may be included in any other document or reproduced or
published in any way without written approval of the form and context in which it is to appear.
No liability is accepted for any loss or damage (including consequential or economic loss) suffered as a
consequence of fluctuations in the property market subsequent to the date of survey. The opinion noted herein is
relevant as at the date of survey only and no warranty can be given as to the currency of the opinion at any point
following the date of the survey.
This research report is current at the date of 10th of June 2016 only. The opinions noted herein may change
significantly and unexpectedly over a relatively short period including as a result of general market movements or
factors specific to the survey area and property classes. The opinions expressed in this research report are that
of the researcher and is authorised by LandMark White Limited.
Liability limited by a scheme approved under Professional Standards Legislation.
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