QLD What's it like living on the Sunshine Coast?

Any locals confirm that the mozzies are bad around lake weyba.??

 

I've spent weeks reading through old threads and especially wanted to come back to this oldie. @Tyler Durden and @Sonamic if you're still about I was hoping to ask for your opinion on Peregian Breeze. I'm guessing that's the old dusty flood prone, mozzie infested area you were referring to. Is it a small version of Peregian Springs. Lots of PIs buying around the $500-$600k mark and simply renting them straight out. There seems to be an abundance of listings. Is any-one buying them as a PPOR?

 

It's a beautiful lake that often amplifies the seabreeze during summer but it is surrounded by low lying melaleuca swamp. There's seasonal flooding potential and the mosquitos come and go depending on rain and whether or not the council have been proactive with control. It was once considered a very cheap part of the coast but was desirable for those wanting acreage where they could do as they please. Nearby Doonan, Verrierdale and Tinbeerwah have always been far more desirable but priced as such.

I'm a perennial bear on this type of housing product and couldn't live there myself but it seems to be moving along quite nicely; for the time being rental demand is definitely there. Flood wise that particular section and further north toward Murdering Creek Rd is actually a drier area and an old grazing lease. Keep in mind that it's still surrounded by coastal swamp but so is a lot of the coast I guess. I haven't had a good look at the drainage but it does seem more hastily put together than Peregian Springs. Traffic looks like it would bother me if it was a hypothetical PPOR, there's a nice little school run traffic jam on weekdays which is something I never imagined I'd see up here. I'd personally wait, it has slowed after every cycle in the past. I don't see how this time is going to be any different.

 

Thanks so much for your local insight and knowledge @Tyler Durden. Ditto. I personally wouldn't chose to live there either. I've just bought a little property on the east side of DLW. I'm keeping my eyes out for my next IP. It's getting pretty tricky to buy anything with land in Peregian Beach itself for around the $500k mark, including duplexes, that's why I was curious about Peregian Breeze. I'm guessing the rental yield is ok but the future growth is what I was trying to suss out.

 

[QUOTE=" I'd personally wait, it has slowed after every cycle in the past. I don't see how this time is going to be any different.

There's so much chatter around the millions of dollars worth of investment in local infrastructure that it's going to be interesting to see if people view it as the time to jump in now or whether to hold off for a year or two and reassess. Will the Melb/Sydney money stop flowing in that direction?!

 

The slated infrastructure may roll around just as the credit squeeze and IO rollover starts to limit both interstate buyers wanting an IP and the growth/wealth effect which has had many renovating, upgrading and downsizing. Interstate migration has been strong but again, nothing out the ordinary from a cyclical perspective. That said I think that the aforementioned infrastructure and the population increase will prevent the slowdown being as painful as the past; we're still short on dwellings and people are still moving up.

I think that it's also worth keeping in mind that as a regional, median prices are already starting that to reach the upper affordability level (from both a local income and credit perspective). Other regionals, along with Brisbane and our smaller capitals are following Syd/Melb and showing signs of slowing so logically the coast has to do the same. The coast has been noticeably moving since 2013/14 so we've had an exceptional run.

I'm sure future CG will be there in Peregian Breeze but as always it just depends on what sort of timeframe you're looking at and when you're planning on entering the market. If we were having this conversation in 2014 and looking at a stage one H&L I'd be more encouraging.

Going north toward Murdering Creek road there is enough land to build at least two more similar sized estates. The land west of Peregian Springs along both Verrierdale and Doonan Bridge roads would also be prime development land. If you're positive about this end of the coast I'd be sitting on the sidelines and waiting for another older property in landlocked Peregian, Marcus, Sunrise or Sunshine Beach.

 

Thanks so much for being so generous with your local knowledge @Tyler Durden. I kind of have no choice but to sit on the sidelines as the type of property I managed to purchase 6 months ago hasn't come back up again. Would you consider purchasing in Sunrise but on the Western side of DLW? I'd not considered the Western side but it's certainly more affordable.

 

As you would know there isn’t a lot on the eastern side, to the west I like the southern end down to Orient Dr, it’s quieter and an easy walk to be beach at Burgress Ck. That said many families like to be closer to the shops off Ben Lexcen and Sunshine Beach High. I think any of the original beachside suburbs are great long term holds.