Coast Property Market Upbeat
New figures provided by the Real Estate Institute of Queensland (REIQ), showed that the median value for property on the Sunshine Coast has increased by 1.2% to $440,000 in the March quarter.
The REIQ revealed that Doonan, Sunshine Coast, performed extremely well, with the average price during the March quarter up by 46.3% to $790,000, while Bli Bli’s median value increased 18.5% to $422,000.
The results compared favourably, with Gold Coast properties recording a 2.2% rise and Bundaberg up 1.6% in the March quarter.
Sales activity brought the average house price of Pelican Waters up 22.4% to around $725,000 for the quarter.
In contrast, the median price of property in Wurtulla fell by 27.3% to $400,000, as well as Battery Hill which was down to a median price of $359,500, a decrease of 15.4%.
Zone Chair of the Sunshine Coast REIQ, Lloyd Edwards, claimed that the results showed a healthy improvement which reflected that attitudes had changed from waiting and watching to being more optimistic.
Mr Edwards said that low rates of interest are underpinning market confidence and that a period of solid growth ahead was forecast.