The Sunshine Coast holds impressive price growth in the first quarter of 2022. The Sunshine Coast has experienced yet another standout half-year, with both volumes and values showing healthy growth.
In the 1-year to March 2022, the Sunshine Coast Council house prices increased by 30.6% to achieve a median of $960,000. Impressively, the apartment market experienced a price growth of 31.3% in the same period with a new median of $623,500.
With regards to the housing market, such price growth was achieved alongside sales volume in the last 6-months that surpassed
the 5-year average by 13%. Research has shown that, on average, it takes just over 2-weeks to sell a house on the Sunshine Coast, which is one of Australia’s fastestselling regions.
There was a total of 1,658 apartment sales including off-the-plan sales within the last 6 months, which is 15% less than the 5-year average. This decline in sales volume was a direct result of reduced supply of new projects.
The Sunshine Coast rental market is remaining strong, with a vacancy rate of just 0.5% as of March 2022. It’s a level of demand not experienced in over 15 years with more supply pressure than Brisbane, where vacancy rates are currently 0.7%.
The median rent for a 1-bedroom apartment in the Sunshine Coast is now $360 per week while the 2-bedroom median is nearly $500 per week.
This reflects a 24% and 32% increase in rents from three years prior for these apartment types respectively and reflects the region’s remarkable growth throughout the pandemic.
In regards to the Sunshine Coast’s rental housing market, the 3-bedroom median is $600 per week, an 18% increase from March
2021, while the median rent for a 4-bedroom house increased by 17% during the same period to $700 per week.
