The Sunshine Coast is an idyllic coastal region offering abundant opportunities for capital appreciation. New homes on this coast often include eco-friendly features like solar panels and energy-efficient appliances that make living here more sustainable.

Noosa may be best-known among Sunshine Coast suburbs, but there are other fantastic choices available to homebuyers looking for more affordable housing – for instance Buddina has become popular among buyers looking for quality yet budget housing solutions.

Population growth

The Sunshine Coast region boasts one of the highest population growth rates in Australia, drawing more people due to its vibrant economy and natural beauty. While this rapid expansion poses potential threats for infrastructure development, some are concerned about its effects.

Mapleton Falls and Kondalilla National Parks are home to this region, along with an active tourist industry bringing in over $3.2 Million annually in visitor spending.

Internal migration to the Sunshine Coast region has been at an all-time high, as shown by its raw numbers, with more immediate household demand than Brisbane, Ipswich or Logan as measured by Vacant Housing data. Furthermore, this area is witnessing high net-worth families from New Zealand relocating here as well.

Increased infrastructure development

With billions of dollars being invested into infrastructure projects on the Sunshine Coast, it has quickly become one of Australia’s fastest-growing regional economies. This infrastructure investment has created jobs and driven industry development which in turn fuelled population expansion and property demand.

The University of the Sunshine Coast is expanding its existing campus to meet an ever-increasing student body. This project will include building a health and medical research precinct with estimated job creation of more than 12,000 over its lifetime.

Major upgrades to the Bruce Highway between Caloundra Road and Sunshine Motorway have seen this stretch upgraded from four lanes to six lanes, increasing traffic capacity while decreasing congestion on Nicklin Way, Kawana Way and Mooloolah River Interchange.

Council is investing in the future of Mooloolaba through an ambitious seawall project, which will protect parklands and paths within communities, increase access to Moffat Beach, and enable construction of a separated bikeway from Mooloolaba Wharf to Minyama.

Supply and demand issues

Due to a strong demand for property, developers need to meet supply. Unfortunately, the Sunshine Coast has experienced several obstacles when it comes to new home construction: firstly there is limited land available; and secondly building costs continue to escalate, making affordable housing increasingly hard to achieve – this resulting in an ongoing housing crisis on the Sunshine Coast.

Tim Lawless, Head of Research for CoreLogic believes a lack of affordable housing is one of the main drivers behind rising Sunshine Coast property prices and expects this market will continue to experience gradual expansion through 2024; but perhaps at a slower rate.

Sunshine Coast has long been known for its beautiful beaches and hinterland, making it a top tourist spot. This has led to strong demand for short-term rentals; investors can capitalise on this by purchasing properties in strategic locations and renting them out to tourists and travellers. Many new properties on the Sunshine Coast feature modern amenities and energy-saving features which help lower utility bills while improving living conditions overall.

Strong demand for new homes

Maroochydore, Caloundra and Birtinya offer some of the finest new homes for sale on the Sunshine Coast, making these areas prime real estate spots. Situated near the ocean and popular among buyers looking for proximity without incurring additional premiums in location costs; Birtinya in particular has seen steady growth thanks to a new hospital/health precinct development which will generate both jobs during construction as well as economic activity once open.

Tim Lawless of CoreLogic’s head of research believes home prices on the Sunshine Coast will continue to increase at a slower pace due to delayed interest rate increases and an economy which remains weak. Therefore, those seeking to purchase should ensure they budget appropriately by considering both their initial purchase price and cost of living expenses, such as utilities costs.