The Sunshine Coast has one of the strongest markets in Queensland right now and could be one of the strongest in Australia.
Property expert Terry Ryder says “The Sunshine Coast is one of Australia’s fastest developing economies, growing each year at rates well above national averages”.
The population of the Sunshine Coast is forecast to reach 580,000 by 2041, a huge increase, which will place a high demand on housing. According to demographer Bernard Salt’s report, the Sunshine Coast population will grow by 175 per cent by 2040. Internal migration is high and is not expected to reduce over the coming years.
The QBE Australian Housing Outlook Report 2020-2022 predicts that we can expect to see average growth on the Sunshine Coast rise up to 7% over the next 2 years to June 2022 with the average house price forecast to reach $635,000
The Sunshine Coast’s economy is expected to expand to $33 billion by 2033 and is growing rapidly, no longer relying solely on tourism because of strong expansion into the health, education and technologies sectors.
Demographer Bernard Salt has previously said: “Long gone is the sense that the Sunshine Coast as an enclave of older retired Australians and New Zealanders. This was always going to be a game-changer for the Sunshine Coast. No other city of a similar scale offered new and existing businesses the opportunity to reimagine their future in state-of-the-art premises next to the pulsing heart of an established Australian city.”
The expanding $5bn health district has placed a demand for rental properties in that area, with the Sunshine Coast University Hospital generating over 5000 jobs since opening
Expansion of the Sunshine Coast Airport will allow direct flights to Asia and the Pacific.
There is a $930 million upgrade to the Caloundra to Sunshine Coast Motorway and federal government funding for a business case for fast rail linking Brisbane and Maroochydore, along with the Sunshine Coast council feasibility study on light rail to connect the region’s key coastal centres.
An infrastructure program of more than $20 billion, which is more than some major cities.
The Sunshine Coast has one of the largest regional economies in Australia and is more than $17bn
The newly planned CBD in the centre of Maroochydore has a spend of $5bn on a 53 hector site and is anticipated to take 20 years to build generating 15,000 jobs. It will also include the new International Broadband Network delivering 800 new jobs and providing very fast internet connections, which could attract larger technology companies. The CBD is projected to add $4.4bn into the economy.