Three Sunshine Coast suburbs are expected to be among Australia’s property hotspots in 2023.
The inaugural realestate.com.au Hot 100 identified suburbs around the country that could be big movers on the real estate scene.
The list was compiled with the insight of industry experts, including buyer’s agents, researchers and an academic, along with with PropTrack data and economic analysis.
Bli Bli, Nambour and Sippy Downs were among the Hot 100.
The former was nominated because of its investment prospects, location and amenity.
It’s close to the beach, the countryside, the airport, wetlands and retail precincts.
Property expert at buyer’s agency Adviseable, Kate Hill, said the town had plenty to offer.
“Like other parts of the Coast, it’s seen its population grow sharply over the past few years, with homebuyers drawn to its semi-rural feel,” she said via realestate.com.au.
“Bli Bli also has a low vacancy rate and good yields, considering it’s a pricey area, making it a go-to for investors,” she said.
The median house price there was $871,000, a 19 per cent yearly increase, heading into December.
Nambour was nominated for its population growth, amenity and investment prospects.
Ms Hill said the town was about to experience a bit of a boom.
“The economy is strengthening, the population is forecast to grow significantly, and there’s a big focus on job creation,” she said.
“On top of that, Nambour is a desirable place to live but has a somewhat more affordable housing market than suburbs closer to the ocean.”
The median house price was $685,000, a 23 per cent increase on last year.
Sippy Downs was also nominated for its population growth, amenity and investment prospects.
It’s home to a university and is close to a national park and just a short drive to beaches and the Maroochydore CBD.
“It’s known for its many postcard-perfect lakes – and a friendly and welcoming community spirit,” Ms Hill said.
The median house price was $810,000, a 13 per cent increase on last year.
The director of economic research at PropTrack, Cameron Kusher, said market uncertainty had increased in recent months due to the Reserve Bank’s aggressive approach to interest rates.
“Despite the rapid increases in rates through 2022 and subsequently reduced borrowing capacities and lower home prices, there are still plenty of suburbs that offer great opportunities,” Mr Kusher said.
He said there were locations that will defy broader market trends.
“That’s why it’s imperative that anyone thinking of buying does their own research to understand what drives a local market and how it is likely to evolve over the coming years,” he said.
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