Sunshine Coast property prices continue to climb, with new data highlighting their meteoric rise.
The region’s median house price soared to $1.22 million in August, while the median cost of units reached $874,000, according to real estate experts PropTrack.
The median property price (houses and units) topped $1.099 million.
REA Group economic analyst Megan Lieu said the region was still one of the strongest-performing housing markets in the country, driven by steady demand and limited supply.
“Home prices are now at their peak in Sunshine Coast, after 29 straight months of gains and an 82 per cent increase since August 2020,” she told Sunshine Coast News.
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“Home prices in the Sunshine Coast have grown by 0.26 per cent over the month, 2.13 per cent over the past quarter and 6.4 per cent over the past year.
“This growth is above the national level for all three time periods, which reflects notable price gains in the region.”
Ms Lieu said “steady demand” had driven the growth but prospective home buyers were now also looking further afield for cheaper properties.
“Many other Queensland regions, such as Townsville, Mackay, Isaac, Whitsunday and Central Queensland, are seeing stronger price rises,” she said.
“With housing affordability hovering around historical lows, demand for more affordable areas has been higher in comparison.”
However, Ms Lieu said property prices were likely to keep trending upwards on the Sunshine Coast.
“We expect prices to continue rising in the upcoming months, particularly due to strength in the overall market following rate cuts and an increase in demand from buyers,” she said.
PropTrack’s September 1 Home Price Index Report stated that home prices rose 0.5 per cent nationally in August, taking home values, for houses and units, to a record median high of $835,000.
REA senior economist Eleanor Creagh explained why prices continued to rise around the country.
She said the market had gained momentum “following the series of interest rate cuts this year which have boosted borrowing capacities, improved sentiment and drawn buyers back into the market”.
“As a result the housing upswing, once narrowly led by a handful of cities, is broadening,” she said.
“Demand has re‑accelerated in Sydney and Melbourne, marking a turnaround from the slower conditions observed in late 2024.
“Darwin has swung from inertia in 2024 to leading annual growth amongst the capitals.
“Melbourne is closing in on its 2022 peak, with relative affordability and strong population growth restoring its appeal.
“By contrast, Adelaide and Perth are still growing briskly, but at a slower pace compared to the same period last year.
“Looking ahead, the combination of lower interest rates, increased borrowing capacities and improved sentiment is expected to continue to drive demand.
“Constrained new housing supply, strong population growth and the expansion of the Home Guarantee Scheme from October will also maintain upward pressure on prices.”
Auction results
35 Glenlea Drive, Maroochydore
- Sold under the hammer for $2.29m
- 3 Bed, 2 Bath, 1 Car, Pool
- Ray White (Maroochydore), Greg Turnbull and Grace Voller
2707/100 Duporth Avenue, Maroochydore
- Passed in at $1.8m
- 3 Bed, 2 Bath, 2 Car, Pool
- Ray White (Maroochydore), Niall Molloy
38/20 Beach Road, Maroochydore
- Sold under the hammer for $786,000
- 2 Bed, 2 Bath, 1 Car
- Ray White (Maroochydore), Niall Molloy and Angus Low
7 Pheasant Street Parrearra
- Sold under the hammer for $1.2m
- 3 Bed, 1 Bath, 2 Car, Pool
- Ray White (Kawana), Will Van den Dungen
9 Shearer Street, Nambour
- Passed in at $750,000
- 3 Bed, 2 Bath, 2 Car
- Ray White (Maroochydore), Nicholas Low
31 Clearview Place, Rosemount
- Passed in at $2m
- 4 Bed, 3 Bath, 5 Car, Pool
- Ray White (Buderim), Gregory Ward and Zoe Byrne
140/19B Wirraway Street, Alexandra Headland
- Sold under the hammer for $1.4m
- 3 Bed, 2 Bath, 2 Car
- Ray White (Maroochydore), Pam Thomas and Lottie Gunter
18 Lighthouse Circuit, Birtinya
- Sold under the hammer for $1.611m
- 4 Bed, 2 Bath, 2 Car
- Ray White (Mooloolaba), Michael Chapman
40 Broadsea Avenue, Maroochydore
- Sold under the hammer for $1.553m
- 4 Bed, 2 Bath, 2 Car
- Ray White (Maroochydore), Greg Turnbull and Grace Voller
5 Karawatha Drive, Mountain Creek
- Passed in at $1.15m
- 5 Bed, 2 Bath, 2 Car, Pool
- Ray White (Maroochydore), Nicholas Low
17 Armstrong Court, Mons
- Sold under the hammer for $1.6m
- 5 Bed, 2 Bath, 4 Car
- Ray White (Maroochydore), Pam Thomas and Rita Kennedy
67 Parkway Drive, Mooloolaba
- Sold prior
- 4 Bed, 2.5 Bath, 2 Car
- Next Property Agents, Courtney Paterson and John Skerlak
1 Gull Place, Parrearra
- Sold, price withheld
- 3 Bed, 1 Bath, 1 Car
- Define Property Agents, Ross Cattle and Katie Davies
