Having previously been stagnant by a struggling tourism economy, an oversupply of dwellings and poor affordability the Sunshine Coast investment property market is heading into a new growth phase in 2014 and beyond. The market is at the bottom of the property cycle and now would be the time to consider purchasing a Sunshine Coast investment property. 2013 has shown a significant increase in the number of house sales in which points to solid growth in 2014 and beyond.
The Sunshine Coast is the third largest metropolis in Queensland and the 10th largest in Australia with its economy doubling in size in the last decade it is now home to over 35,000 registered businesses across a range of industry sectors.
The Sunshine Coast property market is set for growth in 2014 and beyond for the first time in six years. The tourism industry is stronger, the market is more balanced in terms of supply and demand, price decline has made prices more affordable and some serious infrastructure is being built in the area.
Follow Infrastructure Investment
One of the biggest property investment tips when researching on where to buy is to stick close to infrastructure. Infrastructure generates jobs, economic activity and improved amenity for residents in which in turn increases the demand for housing which generates capital growth.
The Sunshine Coast has a lot of new infrastructure projects in progress and in the pipeline totalling Billions of Dollars that will change the face and capital value of the Sunshine Coast.
Some projects in progress include:
– Sunshine Coast University Hospital – $2 Billion
- This will create about 2000 jobs in construction
– Sunshine Coast Airport Upgrade – $450 million
- This will create up to 5000 jobs & when operational up to 3,400 indirect jobs in the region
– Kawana Town Centre – $5.3 Billion
- Expected to generate 45,000 jobs in construction plus 21,000 ongoing jobs
– Sunshine Coast Solar Farm – $30 million
- Inject around $10 million into the local economy over it’s 30 year life, create 40 jobs.
– Expansion, Sunshine Plaza Shopping Centre – $350 million
- Expected to create 6,900 construction and operational jobs
– Health and Social Wellbeing Learning Precinct – $63 million
- The project will create thousands of health based jobs and 350 construction jobs.
– Expansion of River Markets Shopping Town – $6 million
- 70 extra employees in expanded IGA supermarket
The Sunshine Coast is providing great property investment opportunities for property investors wanting to take advantage of the next cycle. Areas around Kawana to Caloundra especially will benefit from the major infrastructure investment taking place. This area also offers the most affordability on the Sunshine Coast with most houses offering a median house price in the $300’000’s.
If you are considering buying a sunshine coast investment property speak to Real Estate Investment Finance today for an obligation free finance assessment and home loan pre-approval.