Fresh data has unveiled the Sunshine Coast towns and suburbs with the most dramatic price growth during the past 12 months.
Ray White revealed that median house values at 20 locations, including beachside hubs and hinterland havens, have increased by more than 10 per cent.
The biggest change occurred at little-known West Woombye, where the price soared to $1.36 million, up 38 per cent.
North Maleny hit $1.51 million and Shelly Beach reached $1.77 million, both up 30 per cent, while Dicky Beach reached $1.71 million, up 27 per cent.
Sunshine Coast-wide, median house prices eclipsed $1.24 million, up 13 per cent.
Want more free local news? Follow Sunshine Coast News on Facebook, LinkedIn and Instagram, and sign up for our FREE daily news email.
The data also showed that the region’s median house price increased 33 per cent in three years, 80 per cent in five years and a staggering 139 per cent in 10 years.
Of Australia’s major cities, only the Gold Coast experienced more significant change during the past decade.
Ray White Commercial head of research Vanessa Rader said the Sunshine Coast was booming, with an influx of new residents post-Covid.
“The Sunshine Coast was a major recipient of interstate migration due to a combination of climate, (relative) housing affordability and employment options … and it’s generally a nice place to live,” she said.
“If you look at business, you can see that the Sunshine Coast continues to be an entrepreneurial city, with many small businesses relocating or born in the region.
“The infrastructure developments and Olympics add to the employment opportunities and appeal of the location.
“There is also a retirement segment of the market.”
Ms Rader said the region was less affordable now, but interstate migration continued to flow.
She said some of the Sunshine Coast’s top-performing towns and suburbs were expensive “lifestyle” locations, while others soared with a limited number of transactions, and some were more appealing to the masses.
“The ones more closely aligned to $1 million represent the (choice of) first home buyers and younger families who are looking for affordable options to relocate or upgrade into newer properties,” she said.
Ms Rader believed local property prices will keep rising in coming months and, potentially, years because of high demand and limited supply.
“Expectation for continued growth is there,” she said.
“The trajectory of population growth is not anticipated to change, with South-East Queensland being a net attractor.
“Locations which offer lifestyle and employment will (continue to) be attractive.
“Limited new (housing) supply will keep prices elevated and the runway to the Olympics (will be) a keen employment generator, as well as the massive infrastructure spending seen across the south-east.”
