Sunshine Coast suburbs that had previously been overlooked are smashing out one-million-dollar property deals which real estate agents say will become the new norm.
Humble neighbourhoods from Aroona, to Coolum to Woombye have “popped the cap” with their first million-dollar sales, sparking a trend in which values are anticipated to go even higher.
The new seven-figure locations include Aroona, Battery Hill, Beerwah, Glass House Mountains, Palmwoods, Woombye, Coolum Beach, Mountain Creek, Nambour, Sippy Downs, Little Mountain, Caloundra West, Meridan Plains and the cheaper streets of Currimundi, Golden Beach and Mudjimba.
In some cases, the staggering price tag is double what the properties were worth just a handful of years ago for average homes or even knockdowns.
Property analyst Mal Cayley has predicted the average house price on the Coast will be more than a million dollars in 2024, out-pricing both Brisbane and the Gold Coast, and he’s put that down to “the largest undersupply of property for a city this size in history”.
Everybody’s Home spokeswoman Kate Colvin, who campaigns for more affordable housing, said soaring prices were making owning a home a distant dream for many families.
“A million dollars is a lot of money for a property and that puts it out of reach of even average income earners,” said Ms Colvin.
“It starts to be only possible to buy a home on the Sunshine Coast if you’re a really high paid worker.”
The million-dollar burbs
Agents say eager buyers have just woken up to the true worth of previously “affordable” suburbs that were still close enough to the beach to have ocean views and access to the water in a few minutes.
In the past, for example, Aroona was overlooked in favour of its richer neighbours like Moffat and Dicky beaches but is now sought for its proximity to the sand and panoramas of the sea in some hilltop locations.
Quaint hinterland towns with larger blocks, leafy streets and a relaxed village feel are also experiencing their first million-dollar records on non-acreage lots.
For example, Woombye’s green country vibe is appealing to buyers who are craving a quiet location away from the busy traffic, but still within distance to major centres.
Ray White agent Carol Carr said the first million-dollar sales in Aroona “broke the seal” for that area which started a rush of similar prices.
These included the neighbouring properties at 44 and 46 Albatross Avenue, which hit $1.17m and $1.1m each and 22 Sanderling Street, a five-bedroom architecturally designed home that achieved $1.225 (it previously sold for $810,000 in 2015).
All three properties have ocean views because of their elevation.
“I think the first million-dollar sale just shocked everybody and now it looks like it’s (the new benchmark), adding another $500,000 on top,” said Ms Carr.
“I think the whole of Aroona, even in the cheaper streets, are getting better prices than I could ever imagine. The whole area is benefitting.”
However, Ms Carr said she felt for many buyers who were anxious and stressed about securing a home in such a competitive market where values seemed to change from week to week.
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“It’s important to treat everyone with respect and fairness so everyone is treated the same and people are not pushed to compete against each other,” she said.
Another agent, Sandra de Jersey of Professionals on the Coast, said the area had suddenly become popular with people who had “never heard of Aroona before”.
Ms de Jersey’s previous highest price during normal times had been $875,000 for a new property with ocean views.
But she has since sold 14 Ocean View Place — which does not have an ocean view — for $1,302,100 to a buyer living in Japan who had only seen it on video.
“If people can’t afford Moffat Beach, Dicky Beach and Shelly Beach, at the moment they are going to the next best thing which is Aroona,” she said.
In Coolum Beach, which had a bit of a reputation, houses in the cheaper streets are now fetching over one million dollars and agent Clinton Eastell, of Eastell and Co, believes they could reach as high as $2million.
Mr Eastell sold 48 Central Avenue, Coolum Beach, a basic four-bedroom brick home, for $1.032 million. Only nine months earlier it had changed hands for $625,000 and in 2015 was sold for $515,000.
He said people were finally appreciating what he called a beach “paradise” that he always believed had been under-valued.
“Coolum is such a sought-after area and I always knew it was going to be. It’s such a great place to live,” said Mr Eastell.
“I don’t see it slowing any time soon. The number of people coming down from Sunshine Beach is incredible.”
Tucked in the hinterland, but still close to the Coast, is Woombye where Ken Guy Buderim agent Michael Barr recently achieved $990,000 at 9 Red Berry Lane, but he says a million dollars won’t be far off.
The next stage of a major development, named Horizons Peak, will soon launch and he said the ground-breaking estate (with features yet to be revealed) would set a new benchmark for the area.
“There’s been a lot of growth in Woombye but this next stage will increase that again,” said Mr Barr.
“It will make Woombye the next million-dollar suburb.
“The appeal is the rural setting, being a country town but very close to everything — just 15 minutes to everywhere — but you don’t have high-density living like you do elsewhere. The blocks here are a minimum of 800 sqm.”
In neighbouring Palmwoods, what was thought to be its first residential house to break the seal went for $1.01million at 7 Rimmel Place which had not had any work done on it after selling for $892,000 only four months earlier.
“It’s certainly set a benchmark and there are others in the area with similar properties who are hoping to achieve a similar amount,” said Nathan Nicholl, from Nicholl and Young.
The townships of Beerwah and Glass House Mountains, on the southern end of the Coast, have also joined the million-dollar club for residential properties.
Agent Cassi Nuske, from McGrath Estate Agents, achieved breakthrough million-dollar sales in both towns and said a shortage of land in the area was driving competition for the properties that came to market.
Ms Nuske sold 27 Otto Nothling Place, in Beerwah, for $1.175million which she described as an executive five-bedroom home on a half acre block.
She also achieved over one million in the township of Glass House Mountains with 44 Allan Avenue, a Balinese-inspired five-bedroom home at $1.2 million.
“It’s a very sought-after area because of proximity to Brisbane and the railway line and proximity to the Coast,” said Ms Nuske.
“It’s definitely a benchmark to even 12 months ago. It’s setting a precedent to achieve a price in the million-dollar range.”
Some million-dollar sales
AROONA
14 Ocean View Place, $1,302,100
83 Byee Circuit, $1,180,000
44 Albatross Avenue, $1,170,000
12 Ocean View Place, $1,040,000
21 Marshall Crescent, $1,026,000
BATTERY HILL
97 Cooroora Street, $1,111,000
7 Blamey Street, $1,190,000
0 Anderson Street, $1,400,000
13 Ninderry Close, $1,000,000
BEERWAH
27 Otto Nothling Place, $1,175,000
CALOUNDRA WEST
8 Burrajum Place, $1,115,000
COOLUM BEACH
14 Mistral Avenue, $1,100,000
48 Central Avenue, $1,032,000
23 Elly Circuit, $1,000,000
CURRIMUNDI
2A Robe Street, $1,500,000
GLASSHOUSE
44 Allan Avenue, $1,200,000
5 Cooinda Place, $1,150,000
GOLDEN BEACH
2/1 Raleigh Street, $1,023,500
29 Taylor Avenue, $1,050,000
2/47 Landsborough Parade, $1,195,000
7/1 Raleigh Street, $1,200,000
LITTLE MOUNTAIN
23 Highland Terrace, $1,000,000
62 Gallery Place, $1,000,000
MERIDAN PLAINS
4 Satinash Street, $964,000
MOUNTAIN CREEK DRY BLOCK
8 Whitewood Court, $1,230,000
PALMVIEW
10 Tranquility Way, $1,180,000
19 Cornflower Road, $1,101,101
3 Paw Paw Place, $1,025,000
SIPPY DOWNS
22 Northlake Crescent, $1,300,000
11 Courtenay Place, $1,250,000
3 Oak Grove Way, $1,180,000
60 Albany Street, $1,130,000
PALMWOODS
7 Rimmel Place, $1,010,000
WOOMBYE
9 Red Berry Lane, $990,000
