Ray White Mooloolaba & Kawana
I believe the end of 2020 acted as a great predictor for the start of this year.
We expect to see the same level of heightened enquiries and competition which will put upward pressure on prices, especially across our central in-demand suburbs.
Despite media reports of a southern buyer rush on the Coast, we are still reporting upwards of 80 per cent of our sales to buyers within Queensland and subdued investor activity.
I predict we will see a lift in investment activity and southern buyers into this year.
Peter King, who specialises in Mooloolaba, is expecting to see an increased number of sellers coming to market, capitalising on the price gains of the latter half of 2020. He has noticed more enquiry from interstate buyers seeking a more relaxed lifestyle.
Beachside sales specialist Adam Budd has seen local buyers driving the market with record sale prices taking place in the Kawana Waters market with an increase in off-market sales.
Mr Budd says that COVID-19 has transformed work and how it is done. Our region is seen as a safe zone to work in and our laidback lifestyle and housing prices is what draws the interstate buyers to us, and this will only continue in 2021.
Home Sunshine Coast
It’s hard to say what this year will be like as no one has a crystal ball, but from what I am experiencing, I believe the Coast market is looking bright.
We have seen great growth and confidence in the market and that doesn’t seem to be slowing down.
We are blessed to live in an exceptionally beautiful part of the world. Now with so many people realising that they can work remotely, we are seeing more people and families looking for a seachange.
We are in the middle of a pandemic and ‘recession’, yet our housing market is still very strong and will remain so.
Beachside properties are in very high demand, as well as family homes in school catchment areas. Borrowing is affordable, banks are keen to write new business and the ‘guarantee’ of rates remaining low for at least three years gives even more confidence.
I don’t believe the property bubble is going to burst – quite the opposite.
We are lucky to live on the Coast and I think that feeling is clearly contagious. Being surrounded by locals that support locals is truly amazing.
This year will have an extremely strong start as buyers hit frenzy level over summer to secure quality property. This will place upward pressure on prices.
I am uncertain if this is a reflection of true value or a flow-on effect from COVID-19, which has produced a swelling in interstate migration and an exodus from inner-city hubs. Only time will tell if the population growth maintains enough pressure on available listing numbers to keep supply at all-time low levels.
The strength of a region’s market is linked to its employment. Any big changes in availability may take some of the heat out of our market.
One of the biggest changes in Caloundra is traffic congestion. We have peak traffic periods and intense pressure on weekend parking. Prices have risen sharply as buyers push to get within a short walk to the beach.
As Caloundra’s population expands this access problem will worsen, which will ultimately make property that is close to these precincts ultimately become more desirable and that will put pressure on supply and pricing.
Next Property Group
What a year we have just had! The market has been active with lots of local movement, so what will happen in 2021?
Well, we feel that the southern wave hasn’t really started yet, which is why our local buyers have been moving fast.
With stock becoming harder and harder to find, we feel that competition will become fierce and will almost certainly drive up the prices. We have certainly seen decisions being made much more quickly than usual, with the multiple interest on properties making buyers jump in.
As far as suburb growth and hot spots, it seems that buyers aren’t as stuck on one particular area anymore and are happier to move around the Coast. Anywhere that reflects good value and is within an easy reach of the beaches are selling fast.
We have seen a lot of movement in Landsborough and Beerwah with time on market becoming less and our waterfront and beachside homes also extremely popular. If we have a similar year to 2020, buckle up because it is going to get interesting.
The Coast property market may surpass the 2002-3 years boom when there was a huge surge in prices. This year could be even hotter.
We will see big increases and new levels reached; levels some people will find hard to get their heads around.
Buyers are going to have lots of competition. This will get frustrating and could slow people from moving to the area. They may have to settle for their second or third suburb of choice.
Sellers will be buying back into the same market. Some may sell to step up only to find buying back in the same level due to the buyer competitiveness. Some sellers may not list to sell from fear of not getting the next property and this will starve agents of properties to offer buyers.
Relocation finance might be the saviour allowing sellers to buy before they sell and with responsible lending being wound back, this will open the door for this type of lending.
The growth suburbs offer beach and acreage. People live here for the unique lifestyle that both these styles of properties offer.
Last year was interesting for hinterland real estate, to say the least.
It began in a fairly standard way and then the six weeks of lockdown saw very few sales. Not many buyers will buy sight unseen in a regional area like ours. However, as soon as the travel restrictions between Brisbane and outer areas were lifted, we saw sales really take off.
The volume of listings has retracted to the lowest level I’ve ever seen in my 20-year career.
There was a definite increase in super fund investor interest in our market due to falling interest rates driving self-funded retirees to invest in property instead.
For the first time I started selling to buyers in their thirties, as employers increased the ability to work from home.
I believe the hinterland market will continue to perform well and limited stock come onto the market this year due to sellers not wanting to leave an area where the global pandemic has had a relatively low impact on lives.
In 2020, there is no denying that real estate showed outstanding resilience, which is expected to continue for the next 12 months at least, given the extraordinary level of interest both locally and interstate.
A standout sector for us has undoubtedly been small to medium sized acreage properties, which happens to be our speciality, with extraordinary numbers at our open inspections for the last six months. To the surprise of many, it is made up of about 80 per cent local buyers and about 20 per cent interstate.
The biggest challenge in real estate for the next 12 months will simply be keeping up with unprecedented demand and for those looking to get into the market. It is imperative that they reach out to their most trusted agencies and register their interest to be kept in the loop.
The industry has taken a step back into the past where about 50 per cent of our listings alone are sold off market.
Strap yourself in for another crazy year as 2021 is going to be a bumper across all industries on the Coast.
North Shore Realty
The turmoil of last year’s lockdown and the uncertainty of what life would be like going forward for the community was certainly very scary on all levels.
Prior to the end of the March lockdown, the market was behaving normally with regular sales and a steady growth in prices. The three months off without the opportunity to conduct sales in our normal way saw sales drop by 70 per cent.
The last six months has seen an unprecedented record activity. The combination of lowest-ever interest rates and the knowledge that we can work from home has seen record numbers of people wishing to move to the Coast.
Everyone has had a good look at what is important to them with family and lifestyle coming out on top.
The following couple of years, considering the current interest rates with money being cheap to borrow and changes in lifestyle, will see continued demand resulting in a growth period not unlike the early 2000s.
Properties are in very short supply and while this continues, there is only one way for prices to go and that is up.
Adams & Jones
After 20 years in the business on the Coast, selling everything from $300,000 villas to $5-million plus properties, I predict interest in our Coast real estate is only going to continue.
I am seeing a very strong movement of people to lifestyle properties – beachfront, beachside and waterfront.
As there won’t ever be more waterfront or beachfront and we are faced with a rapidly growing population, I can only see the pressure of demand having a positive impact on prices for the foreseeable future.
The shocks delivered in 2020 caused a big rethink. It could also be due to the amount of time people spent in their homes this year that has driven them to look at where they live, how suitable their property is to their current needs and even what lifestyle they would like to be living in the near future.
In past ‘booms’ I noticed many retiree buyers, but now I am seeing many families with children also relocating to the Coast and many buyers who were never able to leave a capital city before now, deciding to relocate their family here and work from home.