Top 10 Sunshine Coast Property Statistics
#1. Property And Population
The Sunshine Coast Regional Council reports the region is growing by around 8,000 residents every year. Not including the Noosa Shire, the area houses 312,000 permanent residents. With the Noosa Shire, statistics indicate 370,000 people live on Sunshine Coast.
#2. Overnight Tourism On The Sunshine Coast
Sunshine Coast attracts a lot of tourists. Some popular spots are Noosa River in Noosaville, Tewantin National Park, etc. In 2017, around 3.7million tourists stayed for at least one night while visiting the Sunshine Coast. This number has increased by 5% since 2016. Only 8% of the tourists were from overseas, which was about 300,000 of the total visitors. Experts believe the Sunshine Coast would benefit from more upmarket hotel and resort projects.
#3. Other Tourists On The Sunshine Coast
Research shows that last year the combined number of nights which tourists stayed on the Sunshine Coast added up to 16 million nights. There were approximately 6 million day-trippers boosting the economy.
#4. How Does Our Tourism Rank?
If the Noosa Shire is included, the Sunshine Coast region is the 9thlargest area in Australia, and the 10thlargest tourist market.
#5.We Need More Sunshine Coast Property Development
Unlike the saturated market in some of the capital cities, the Sunshine Coast actually has a larger demand than supply of homes. In 2017 the region required around 16,000 new homes. Only around 12,500 were completed, meaning the area is ‘undercooked’ by about 20%.
#6. The Projected Sunshine Coast Property Development
Experts calculate that around 10% of South East Queensland’s new property developments will be within the Sunshine Coast area. We can expect about 38,000 new dwellings to be constructed within the next 20years. Some of the popular suburbs for residential blocks are Tewantin, Noosaville, and Cooroibah.
#7. Rental Price And Trajectory
The increase of rental price on the coast has been comparatively mild considering the big spikes in the major cities. If things stay on this trajectory, it doesn’t look the Sunshine Coast’s rental prices will overshoot.
#8. Job Growth On The Coast
The Sunshine Coast Region provides around 130,000 jobs. The rate of job growth remains positive in the area. A key player in the Sunshine Coast job market is construction companies, with 42% of the local economy coming from this area. Construction contributes $4.7 billionto the local economy each year.
#9. Disposable Income On The Coast
The average household income for Sunshine Coast residents sits at $64,000, but the average total disposable income per household is $108,000.
#10 The Property Clock
Verbally the property clock reads like this:
Recovery – 6 to 9 o’clock
Upturn – 9 to 12
Peak – 12
Downturn – 12 to 3
Stagnation – 3 to 6
Trough – 6
The Sunshine Coast is a growing area which shows excellent prospective for potential investors. Although investing in suburbs such as Noosaville, Cooroibah, and Tewantin could prove beneficial, it is recommended to consult an expert real estate agent before going ahead with the investment. The job growth, population and demand are anticipated to continue, and rent prices are calculated to remain affordable. Just in case you weren’t already in love with the Sunshine Coast!
Information credited to https://matusik.com.au/2018/06/19/ten-things-sunshine-coast/
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