Whats happening in the Sunshine Coast Property Market in 2021?
We'll just pretend it hasn't been over a year since my last blog post.. I'm going to put it down to a case of writers block and being distracted with running the business. Happy to say that we have been going from strength to strength with positive growth. Kind of like the Sunshine Coast property market? Yes, except that has been progressing so much faster!
Can we slow down a little bit please? The vibrant but somewhat sleepy Sunshine Coast is suddenly a serious property hot spot with investment and relocation madness and a (somewhat instant) massive home shortage.
We only relocated here ourselves in 2018 and we remember having our pick of so many properties - can you believe our home sat on the market for over 300 days. Now there could be as many buyers lining up to purchase it tomorrow.
Whilst it was always obvious, to us at least, that the Coast was underrated and possibly quite undervalued it all happened so quickly it's definitely taken most locals by surprise. The demand for housing is continuing to push prices higher and higher each week. I think the general consensus is that this is more of a correction of value than a bubble type situation. The Coast can go through long periods with little to no and even negative growth so we were surely due for a correction and increase in demand.
"According to property market expert Terry Ryder, the Sunshine Coast is one of Australia's fastest developing economies... and is expected to expand to $33 billion by 2033."
Seeing the Coast grow and expand is equally exciting as it is a little daunting, it seems like everyone wanted to buy a house yesterday and there just simply aren't enough homes for everyone to buy. The majority of buyers are owner occupiers and re-locaters from interstate but we have also seen an increase in investment activity.
Whilst we are Airbnb Managers and that is our business, it would be tone deaf to write this article without acknowledging the elephant in the room. There are a lot of people struggling just to find somewhere to live on the Coast at the moment. Airbnb often cops the blame for situations like this as the belief is the homes should be offered as long term rentals.
At the end of the day investment properties are something that many Australians aspire to own and how they wish to manage them is their decision. I receive a lot of calls each week from people with prospective properties and most of them I deem not to be suitable for Airbnb management. We need sustainable housing and this starts with fair and responsible investment management. Some properties are just perfect for the short-term market, others would perform better and be more appropriately suited to long-term renting.
The Property Hosts are still looking for 5 special properties to add to our portfolio before the end of 2021, much like our views on sustainable housing and investment management we are happy slowly growing our business with quality properties and clientele.
We are always here to discuss your best options and offer a genuinely un-biased opinion on both holiday property management and investment buying options.
Happy hosting!! Monique x