The lofty heights of the COVID-induced property boom have all but gone, but at least one seaside town continues to attract a plethora of prospective home buyers.
After peaking last year, prices have generally dropped around the country, largely due to a string of interest rate hikes.
However, plenty of people are still intent on securing their place on the seaside, which has kept coastal prices well above pre-pandemic levels.
Caloundra is the place to be, according to Ray White Caloundra principal Andrew Garland, who said many buyers were prepared to pay big bucks to move or invest there.
“The market’s proving to be remarkably resilient here, in the face of rising interest rates,” he said.
“We’ve had a positive second half of the year and we’re seeing that people still want to be here, and they’re having no problems with finance.
“It’s not like it was in the boom 18 months ago, but it’s certainly, and surprisingly, strong.”
The median price for a house in central Caloundra during the past 12 months, via realestate.com.au, was $918,500, which is well above the median price in 2019 ($527,000).
It’s a similar story, but with increased sums, at ritzy beachside suburbs like Dicky Beach ($1.43m now, $787,000 in 2018) and Moffat Beach ($1.48m now, $780,000 in 2019).
Decent price increases can also be seen in suburban areas like Little Mountain ($880,000 now, $569,000 in 2019), where more than 120 houses were sold in the past 12 months.
Mr Garland said buyers were drawn to the region because of laid-back beach town lifestyle.
“Caloundra hasn’t changed,” he said.
“What attracted people before is still here.
“Caloundra, relative to the rest of the Sunshine Coast, is underdeveloped, so it has more of a town feel than a city feel.
“The traffic snarls of Nicklin Way (at Kawana), and at Maroochydore and Mooloolaba: we don’t have those to the same degree.
“And there’s lower-density living near the beach here, so it has more of a community feel, rather than a beach resort feel.
“I think that’s very attractive to a lot of people.”
And there’s only a certain amount of property to go around, keeping prices high.
“There is not much land near the beach anymore,” Mr Garland said. “That’s why I think Caloundra is performing strongly.”
A rare multimillion-dollar swap deal involving two properties occurred at Dicky Beach earlier this year.
Mr Garland said unit prices were also strong.
“It’s surprising how well they’re going: residential units in particular,” he said.
“It’s the first time in 19-odd years that I’ve been selling here that I think it’s possible the unit market is outperforming the housing market to a degree.”
Units in central Caloundra are worth about $662,500, compared to $430,000 in 2019. Almost 120 units were sold there during the past 12 months, and 39 were available last month.
Units at Kings Beach ($747,000 now, $435,000 in 2019), Moffat Beach ($806,000 now, $420,000 in 2019) and Dicky Beach ($625,000 now, $345,000 in early 2021), also witnessed hefty increases.
Mr Garland said a lack of tower apartment blocks and a limited supply of units kept prices high.
“There’s only a couple of buildings coming out of the ground and people have very few options other than to buy older stock,” he said.
Mr Garland expected Caloundra houses and units to remain drawcards for buyers.
“I can’t see things changing,” he said.
“It depends on what the world does, but even if it does go a bit crazy, the things that are driving people here, on the back of limited development, are still going to be there.
“People want to have a lifestyle near the beach.
“I can’t predict significant growth, but I doubt we’ll see any decline in the market: I think we’re looking for solid times ahead.”
The positive property trends and outlook has seen a lift in the local real estate industry.
Another national real estate brand recently opened in the area, with Belle Property launching Belle Property Caloundra.
Belle Property CEO Peter Hanscomb said they were delighted to welcome Jason and Rebecca Jaeger – “a proven and dynamic sales team” – as principals at the office.
“With over 20 years real estate experience and a strong presence in the community Jason and Rebecca will focus on Caloundra and surrounding beachside suburbs which they call home,” he said.
“They are a strong quality team with an approachable nature that really supports each other and their clients every step of the buying and selling process.”
Mr and Ms Jaeger said Belle Property was the right fit for the area and their relaxed premium approach.
They also said the region was a property hotspot.
“Caloundra is seeing a change in demographic and the average sales prices are on the rise,” they said via a media release.
“We are excited to be in charge of our own business with the support of such a strong network.”
Caloundra was recognised as one of Australia’s top tourist towns last month and more people are coming to the greater Caloundra region, with the rapid build of Australia’s largest master-planned community Aura, just inland to the south-west.
And while Mr Garland said traffic wasn’t a major problem compared to other parts of the Sunshine Coast right now, he said transport solutions should be implemented to accommodate the growing population.
“I think one of the biggest issues is road infrastructure and planning around that,” he said.
Auction results
10 Marawa Drive, Parrearra
Sold for $1.025m
4 Bed, 2 Bath, 1 Car
Fletcher Riley, Rebecca Fletcher and Alan Riley
26 Lalwinya Street, Buddina
Sold for $1.29m
3 Bed, 2 Bath, 2 Car
Fletcher Riley, Rebecca Fletcher and Alan Riley
3 Vauxhall Street, Minyama
Sold for $1.575m
5 Bed, 3 Bath, 2 Car
Fletcher Riley, Rebecca Fletcher and Alan Riley
2/106 Burnett Street, Buderim
Sold prior to auction for $790,000
3 Bed, 2 Bath, 2 Car
Ray White, Gregory Ward and Zoe Byrne
49 Bell Road, Buderim
Passed in at $1.2m, on the market for $1.25m
4 Bed, 2 Bath, 2 Car, Pool
Ray White, Gregory Ward and Zoe Byrne
20 Pangali Circuit, Birtinya
Passed in for $1.11m, on the market for $1.2m
4 Bed, 2 Bath, 2 Car
Ray White, Dan McNamara
11 Osprey Drive, Birtinya
Passed in for $775,000, on the market for offers from $800,000 plus
3 Bed, 2 Bath, 2 Car
Ray White, Dan McNamara
19 Solace Street, Birtinya
Sold prior to auction for $877,500
4 Bed, 2 Bath, 2 Car
Ray White, Dan McNamara
39/99 Birtinya Boulevard, Birtinya
Passed in at $500,000, on the market for offers from $525,000 plus
2 Bed, 1 Bath, 1 Car
Ray White, Dan McNamara
222 Wises Road, Buderim
Sold under the hammer for $850,000
4 Bed, 2 Bath, 2 Car
Ray White, Dan McNamara
16A Aspland Street, Nambour
Passed in at $650,000, on the market for $689,000
3 Bed, 2 Bath, 2 Car
Ray White, Michael Scott and Ryan Aldred
1/33 Fifth Avenue, Maroochydore
Passed in at $1.5, on the market for offers over $1.6m
4 Bed, 2 Bath, 2 Car
Ray White, Pam Thomas and Megan Murray
26/26 Picnic Point Esplanade, Maroochydore
Sold under the hammer for $872,000
2 Bed, 2 Bath, 1 Car
Ray White, Niall Molloy and Ari Whisson
36 Amarina Avenue, Mooloolaba
Passed in at $1.9m, on the market for $2.1m
5 Bed, 4 Bath, 2 Car, Pool
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