If there's one housing market in Queensland investors should keep an eye on, it would be the Sunshine Coast, according to a report from CBRE.
The Sunshine Coast is emerging as Queensland's strongest residential property market, outpacing Brisbane and Gold Coast. Over the year to June, the median house price in the region increased by 3.8% to $622,500, while the median unit value jumped by 2.4% to $420,000.
Jarrod Fazer, senior managing director at CBRE, said the Sunshine Coast is benefitting from the shift towards regional living amid the COVID-19 pandemic.
"Places like the Sunshine Coast are reaping the benefits of a Zoom boom, with people realising that the world has probably changed forever in relation to their ability to stay connected via video conferencing," he said.
Fazer said during the first six months of the year, the Sunshine Coast reported strong sales activity, with around 5,600 homes changing hands. This reflects a 6.4% gain in sales on an annual basis.
The Sunshine Coast also registered a strong population growth during the same period. The region has recorded a solid growth of 2.7% per annum over the past three years.
"Over the past few months, we’ve seen people who were considering a sea-change to the Sunshine Coast bring that decision forward due to COVID-19. Being able to connect to the workplace remotely via video conferencing has made it easier for people to enjoy benefits of a regional lifestyle, while keeping their capital city job," Fazer said.