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Figures show Sunshine Coast areas where owners are reluctant to let go

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Figures from real estate data firm CoreLogic have revealed the most tightly held parts of the Sunshine Coast during the post-pandemic real estate boom.

The beachfront suburbs of Warana, Currimundi and Moffat Beach, along with Battery Hill landlocked between them and the Nicklin Way, feature strongly, as does Golden Beach.

Scroll down to see the results for all suburbs

Kuluin, next to Maroochydore, and Lake Macdonald, in the Noosa hinterland, were the areas north of the Mooloolah River where property turnover was at the lower end of the scale.

Properties sold in Battery Hill in the 12 months to March have been held the longest, for a median period of 13.6 years, while the median hold for Currimundi was 10.4 years, Moffat Beach 12.1 and Lake Macdonald 11.6.

CoreLogic calculated the average turnover rates of properties based on the percentage of homes sold in each area annually over the past four years.

The suburbs where the property turnover rate was the lowest were Moffat Beach at 4.5 per cent, Warana at 4.8 per cent, Wurtulla, Currimundi and Dicky Beach at 4.9 per cent, and Kuluin at 5 per cent.

Properties in the newly developed Nirimba, in Caloundra South, and Palmview were let go the fastest, sold after median lengths of 3.1 and 3.8 years respectively, and Bokarina property owners were selling relatively quickly after 4.4 years.

The Caloundra South twins of Baringa and Nirimba had the highest property turnover rates of 11.8 per cent and 11.7 per cent respectively, followed by Birtinya at 9.6 per cent.

Eliza Owen, head of research for CoreLogic in Australia, said hold times correlated with sale prices, pointing out that median prices in Battery Hill, Moffat Beach and Lake Macdonald were more than $1 million.

“One thing that seems to tie many of these suburbs together is that they are a little more represented in the higher price range,” she said.

Baringa and Nirimba are part of Aura, Australia’s largest masterplanned community.

On the other hand, areas in Caloundra South, where hold times were shorter, had a median price under $800,000.

Ms Owen acknowledged that high turnover rates and short hold times in Caloundra South could be attributed to new homes being bought in new developments.

Real estate agent Adam Budd, of Ray White Kawana Waters, said people chose areas for lifestyle reasons, and Battery Hill and nearby beaches had everything people wanted.

“If you look at Kawana Waters, Currimundi, Battery Hill, they all have proximity to good beaches within five minutes, and within 10 minutes, great shops and medical facilities, and within 10 or 15 minutes, great restaurants, great shopping and easy access to the Bruce Highway to go south to Brisbane or north to Noosa,” he said.

He said it was not uncommon to hear people say “we’re never moving” but he expected more properties in the tightly held Kawana, Currimundi and Battery Hill area to change hands as the population aged and the Sunshine Coast grew.

“I believe in the next five to seven years, we’ll see more change in the area,” he said.

The median hold period of sold properties was for the 12 months to March 2024. Only suburbs with a minimum of 20 resales in the past year were factored into the hold analysis. Only suburbs in the greater Sunshine Coast region were included.

Do you have an opinion to share? Submit a Letter to the Editor at Sunshine Coast News via news@sunshinecoastnews.com.auYou must include your name and suburb.

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