QLD Sunshine Coast

My wife and I are looking to purchase a PPOR on the Sunshine Coast. We are looking for something to live in for 6-8 years before we upgrade to our dream home in the hinterland.

Budget is $650,000 max. Main goal for the property is capital growth. I would love to hear some thoughts around where people see the most value. We’ve been looking for a while now and finding it’s 100% a sellers market. We have had a couple offers in so far 30-40k above the asking price and have missed out in multiple offers. Every open home has had 30+ groups. Feels like there is limited stock available and buyers everywhere. Is anyone else looking up here at the moment and struggling as much as we are??

Our current suburbs of interest are:
Currimundi (beachside of Nicklin)
Battery Hill
Buderim
Maroochydore
Coolum Beach
Mount Coolum

Would love to hear some thoughts on Sunshine Coast as a whole and also discuss specific suburbs.

Also if anyone is located on the Sunshine Coast, please reach out as I would love to catch up. We own a couple investments in Brisbane and I work in the industry so would love to catch up and chat property and investing if anyone is interested.

 

The market seems pretty hot at the moment. I’m in noosa and a lot of properties are being purchased site unseen.

It’s hard to know how long this run will continue for. Some locals think it’s mostly Victorians moving up - if that’s the case, it could be a short surge in prices. It also seems that new listings are going up all the time recently - so the supply might end up matching the demand soon.

Having said that - more people are working remotely these days so desirable areas like the sunny coast may just continue to become more popular. Especially when compared to property prices in the southern cities.

Cheers

Jamie

 

Hi Hayden,

I live in Mooloolaba and have been watching the market for the last few months also. It is definitely booming at the moment so I don’t think your budget will go too far in Buderim, Maroochydore or Coolum. We are looking up to $900,000 and are finding it difficult as properties are being sold before listing so my advice would be to get on the books of as many local agents as you can.

Good luck!

 

I live in the northern suburbs and not so familiar with the southern ones so will focus my response with what I know.

It is indeed a sellers market. How long the boom lasts is anyone’s guess. There was a boom here 2016-2019. Things started to settle down in 2019 (and I thought it had peaked) and then COVID hit and it’s been crazy with so many people moving this way.

If you’re willing to put in the hard yards with some renos you could pick up a place in Mt Coolum or Coolum. But that budget would only get you something that needs quite a bit of work.
Eg 71 Mountain View Drive, Mount Coolum, Qld 4573
https://www.realestate.com.au/property-house-qld-mount+coolum-134648766
Maroochydore is nice to visit but it doesn’t really have a ‘home’ type feeling, not sure if it would be a great spot to set up a PPOR. Coolum / Mt Coolum / Yaroomba really are lovely, there is very much a community feel. Coolum gets busy during the holidays but the locals know where to go to avoid the crowds. Peregian Beach is also very nice but would be out of the price range you mentioned.

I’m not as familiar with Buderim but have heard it has a great community feel as well. It’s very green and leafy and has some amazing views. And it’s very close to Maroochydore CBD and the Bruce Hwy so I think it would be a great investment due to the easy commute for those who need to commute.

(note: I wouldn’t buy a place on Suncoast Beach Drive in Mt Coolum as there are plans to link that rd up with the Sunshine Motorway with a new on/off ramp so it will become a busy/main road at some point).

(note 2: this little pocket of Mt Coolum has large blocks, is surrounded by bush and golf courses and so close to the beach. It’s really quiet too. Not many people even know it exists. The houses are a bit older (70s/80s). Ive always thought there is good potential there, and places are cheaper than Coolum).

 

What suburb are you targeting? Coolum options are very scarce in that range I agree. Have seen a few in Buderim and Maroochydore. Good luck with your search! Have been calling agents on a weekly basis, hopefully soon enough I would have annoyed them enough to want to give me some time of day haha

 

Good point, Maroochydore does have less of a family/community feel to it. Thanks for the note on Suncoast Beach Drive, if that eventuates that would also increase the appeal of the pockets you mentioned. Thanks for pointing them out I will have a further look.

It’s nice to have options and not be in a great rush. Fingers crossed buyers will dry up around Christmas and we will have more of a chance. It appears like COVID has increased buyer demand up here more than anywhere else in Australia. Or maybe I’m just stuck in my own bubble.

 

We’re looking in Mooloolaba, Buderim, Yaroomba and Coolum as we really want to stay near the beach. Not interested in new subdivisions. In saying that, Mooloolaba seems to be getting increasingly busy on the weekends which is making us rethink the area.

 

We love Buderim - it definitely has a great community vibe to it and its 10mins to the beach by car so close enough for me. Be careful with purchasing low end properties here though as there are some traps for new players. Don't buy on the south or west side of the mountain as you get no winter sun. East and north side gets the views but also can get the sun in your eyes. Walking distance to the village is key, try to get on top so you're not walking up the side of the mountain which gets very steep. Also check your phone reception as many parts have no/poor mobile calls or internet which would turn off future buyers/tenants.

Coolum is interesting, but check the flight paths. I wouldn't like to live in maroochydore, but alex heads is one of our best beaches.

 

I've been looking at the Sunshine Cost for a while for an investment that could turn into a future retirement place for us.

As everyone has said, it seems like a very hot market at the moment, so we are just going to wait a while until things hopefully cool a bit.

If this is all COVID related, then it should drop off some time in 2021. If not related, then hopefully the wave will also hit Brisbane at some stage, and the CG in our Brisbane properties will help us buy up the SC later.

 

T

The new runway has moved the flight paths away from Coolum

 

Where have I heard this before.... I have no idea about whether prices will continue rising, but if there is a permanent shift to at least some city jobs being done remotely then the number of towns/cities with good infrastructure, hospitals, schools etc. + nice beaches and nature areas is pretty short. If you can buy a beachfront home on the sunshine coast or a house in footscray dodging used needles for the same price and employment isn't a factor which do you choose?

Employment is the key, there's bugger all on the coast. If that changes we could have a real boom here.

 

Similar position the main poster of this thread, thinking Coolum Beach but I simply don't know the surrounding areas well enough - can you all suggest any hidden gems or areas to take a look at? Mainly hearing Coolum Beach and Peregian but just checking if there's somewhere else nearby worth seriously considering.

 

Sunrise Beach, Castaways, Marcus Beach.

I wouldn't bother with Sunshine beach....it's soooo expensive and has too many holiday rentals.

Castaways and Marcus Beach are very nice and quiet - but you'd have to drive to get to shops, cafes, etc. The beaches are nice - especially if you like to surf. They're both more expensive than Coolum/Peregian.

Cheers

Jamie

 

Yaroomba is nice but there is approval for a large new Sekisui development which may change that.

 

Mudjimba - but check the latest flight paths as I think it goes over some parts of the suburb. Otherwise as the previous poster said (and yes Marcus and Castaways are more expensive than Coolum). Peregian really is lovely, the little shopping area with cafes etc sets it apart.

 

Id be looking at currimundi if you can get beachside of Nicklin way. Theres such a limited supply of houses so close to the beach. Plus your close to the shopping area at Buddina. You'd probably do even better if your close to currimundi creek which is pretty popular with local families.

 

Thanks Scotty, something like this?
House for Sale - 23 Mirnoo Street, Currimundi, QLD 4551

 

Can you recommend who has stock at the moment? It’s so busy

 

What I don't get is why the vendors listing properties don't chance their arm and inflate the crap out of the asking price...instead letting properties go 'under offer' within 24-48 hrs.

Same with rentals. If a landlord gets 20 applications at the first open, they've underpriced it.

 

That will come if the boom continues and demand continues to out-strip supply.

I have lived through a few cycles now, and it gets to a point where people become very frustrated with missing out, and just keep upping the offer.