QLD Sunshine Coast -COOLUM beach

hi , I am looking at purchasing my first investment house at COOLUM .. has anyone got any insight into the area .. or have property there ? Vacancy rate is below 2%, house prices have gained 9% approx per year over the last 10 years... just Hoping I’m not jumping in at the end of the boom so to speak ..any help would be appreciated

 

Beautiful area. So many would love to live there.
Apart from the beaches, what are the drivers? I haven't been there for decades and it's changed a lot since then.

 

The drivers for me would be capital growth , vacancy rate ... and expecting prices to increase as people who can’t afford Noosa will go next suburb over ? Not sure on council spend or planned improvements for the area, hoping someone can help me with that ?

 

and The rental yield is looking at nearly 5%

 

You need to identify the underlying cogs in the wheel. Why will this area grow? Apart from beaches. Is there any industry? Or just a heap of retirees? Is there transport? Planes? Trains? A port?
Prestigious or selective schools?
Tertiary institutions?
Employment? New businesses?
Agriculture?
You will need to look into this yourself.

 

I like Coolum, but most of the big infrastructure developments (drivers) seem to be at the other end of the coast. New hospitals, Maroochy CBD, airport extension, Caloundra South (Aura) etc.

 

Agreed.
I am also a big fan of Tewantin. Close to Noosa but with much lower prices. Tewantin there is still a chance that your tenants will not have to leave the area for work, Coolum it would be almost inevitable.

 

Coolum is an awesome place - I'm not convinced it would be a great place to purchase an IP though. Growth has been decent of late - but I'm pretty sure it was flat for a long time prior to the recent increase. There's better markets in Aus to buy into IMO.

Tewantin can be hit and miss - there's some lovely streets/pockets and then there's some dodgy spots. The lower price reflects this.

For a PPOR - Coolum represents good value! If you live/work on the northern sunny coast then Coolum represents very good value for money (again - this is for a PPOR). Especially at the higher end when you compare what $800k - $1m gets you in Coolum compared to 15 mins up the road in Noosa.

Cheers

Jamie

 

A few key things to look at:

1. The revised flight paths for the airport when it expands, from memory Coolum will cop a lot more overhead planes but check this as I wasn't looking specifically at Coolum.
2. As mentioned jobs are hard to find on the sunshine coast, and there would be very few in coolum itself.
3. It is beautiful though!
4. If it's an IP I'd be going somewhere closer to the new hospital, maroochydore cbd upgrade and the potential (very much early days) fast train to Brisbane. They'll all contribute to good jobs as they expand, and if the fast train gets off the ground it would be a game changer for commuting to Brisbane for work. Surf in the morning then 45 minutes on a train to the CBD - I'll take that!

Ross

 

I'm convinced that all the best days start with this

Cheers

Jamie