Quarterly Update of the Sunshine Coast Property Market

Welcome to my quarterly update of the Sunshine Coast Property Market.

Corelogic RPdata has this week released statistics for the March 2015 quarter.

Sunshine Coast dwelling sales remained stable over the year, up just 0.6 per cent over the 12 months to February 2015. There has been 11,060 properties sold in the last 12 months which is 22% above the 5 year average for the region. 63% of these sales were houses and 37% were units.

Over the year to March 2015, house values rose by 6.3 per cent, or in dollar terms $29,945 to $508,148 and unit values were up $16,680 (4.7 per cent) to $370,910.

Other key measures of the health of the Sunshine Coast’s residential property market have also improved over the past year.

Rental rates have risen by 4.5 per cent for houses to a median weekly rental of $450 and 5.7 per cent for units to $360 per week, an incentive for potential investors

The average time on market has reduced to 87 days for houses and 105 days for units and vendors are discounting their properties by less in order to secure a sale with the average discount to listing price for houses at 5.9% and units 6,5%.

The gross rental yield for houses is now 5% and units 5.5%.

This has been Lee Sutherland with the Sunshine Coast Property Market update for the March quarter 2015.

For more details please visit leesutherland.com


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