It’s not just smart investors from Brisbane, Melbourne and Sydney who are fired up about the Sunshine Coast residential property market.
Tasmanians are also on the hunt for good Coast value, Ray White agent Taylor Sierp says.
This month, he has sold four residential properties to buyers from the Apple Isle, who have identified the region as a lifestyle haven that will continue to grow and prosper.
Mr Sierp said the emerging new city centre at Maroochydore and likelihood of improved infrastructure leading was adding to the attraction, along with our high rental yields.
“The smart investors are getting out now to cash in. The new investors are making use of those high rental yields,” he said.
In the past six months, Mr Sierp has noticed that another investor driver has been the first home buyer market in Sydney and Melbourne, where properties were becoming unaffordable for buyers between ages 20 and 30.
“So, what they are actually doing is buying an investment up on the Coast to just get a leg into the property market.
“They will then use the equity on that property over the next three to four years to re-sell and buy into their respective markets.
“It’s a unique time.”
At Thursday night’s Ray White online auction where Mr Sierp had several properties listed, 10 of the 20 registered bidders for the eight properties up for sale were from interstate.
Tasmanians secured two of the six properties that were eventually sold under the hammer.
Both 13/99 Birtinya Boulevard, Birtinya, and 3704/3 Emporio Place, Maroochydore, were sold to these two southern investors.
The other key result on the night was for 230/21 Innovation Parkway, Birtinya, which sold for $35,000 over the reserve and under the hammer for $605,000 to a Victorian looking to relocate to the Coast.
“That was about $70,000 over the last sale in the complex,” Mr Sierp said.
Seafront entices investors
Located high in the Seamark building at 29 First Avenue, Mooloolaba, with ocean and hinterland views, unit 1001 attracted strong interest with about 50 groups visiting the apartment prior to auction, reports Ray White’s listing agent Greg Clarke.
The online auction attracted seven registered bidders but ended up with five competing for the property.
“We had people from Sydney, two Victorians looking to move to the Coast, a New Zealander wanting to live there for three or so months each year, and Brisbane buyers looking to relocate to the Coast,” Mr Clarke said.
The successful bidder was a local who will rent it out in the short-term and possibly live there at a later time. The final price hasn’t been disclosed.
“It sold for well and truly over one million,” Mr Clarke said.
“It was over reserve and the vendors were ecstatic with the result.”
Street record sale at Mudjimba
The opportunity to buy two adjoining houses at one time was a strong driver for the local buyer of 749 and 751 David Low Way in Mudjimba.
The smaller house at 751 sold prior to auction for $600,000 while the same buyer beat off three other bidders, including one from Darwin, to secure 749 under the hammer for $700,000.
Listing agent Greg Turnbull of Define Property said the houses would be renovated and then the owner would decide which will be lived in and which would be rented.
“They are currently zoned low density residential,” Mr Turnbull said.
“There were a lot of people looking at them and if they could have secured them at a certain price, they would look at redeveloping.”
In the same suburb a street record was achieved for the sale of 37 Coolibah Street.
The listing agent, Terri-Anne Murray of Amber Werchon Property, said: “the whole street of neighbours were there” for the auction of the four-bedroom house.
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A very determined Brisbane buyer secured the property under the hammer for $1.425m.
“The sellers were downsizing and the buyers are planning to relocate to the Coast from Brisbane,” she added.
Mr Turnbull thinks the excitement of Mudjimba lies in the opportunities that could lie ahead for the development of the town centre.
“They (David Low Way buyers) think that it’s an area that is going to go through the roof within about five years,” Mr Turnbull adds.
List of auction results
9/5 Affinity Place, Birtinya
- Passed in at $480,000.
- 2 Bed, 2 Bath, 2 Car.
- Ray White, James Goldsworthy.
13/99 Birtinya Boulevard, Birtinya
- Sold under the hammer for $443,000.
- 2 Bed, 1 Bath, 1 Car.
- Ray White, Taylor Sierp.
230/21 Innovation Parkway, Birtinya
- Sold under the hammer for $605,000.
- 2 Bed, 2 Bath, 1 Car.
- Ray White, Taylor Sierp.
44/67 Regatta Boulevard, Birtinya
- Sold under the hammer for $492,500.
- 2 Bed, 2 Bath, 2 Car.
- Ray White, Justin Wijaya, Brent Higgins.
4 Offshore Street, Bokarina
- Passed in at $1.2m.
- 4 Bed, 2 Bath, 2 Car.
- Ray White, Steven Allen.
8 Wian Street, Buderim
- Sold under the hammer for $1.085m.
- 3 Bed, 1 Bath, 1 Car.
- Ray White, Rob Horne, Sally Horne.
1 & 2/3 Minya Street, Buddina
- Sold under the hammer for $1.365m.
- 6 Bed, 2 Bath, 2 Car.
- Ray White, John Bartsch.
94/57 Grand Parade, Kawana Island
- Passed in at $540,000.
- 2 Bed, 2 Bath, 2 Car.
- Ray White, Blake Dein, James Goldsworthy.
120 Sunshine Cove, Maroochydore
- Sold under the hammer for $770,000.
- 3 Bed, 2 Bath, 2 Car.
- Ray White, Jake Loiero.
806/25 First Avenue, Mooloolaba
- Sold under the hammer for $680,500.
- 2 Bed, 2 Bath, 1 Car.
- Define Property, Grant Whisker.
1001/29 First Avenue, Mooloolaba
- Sold under the hammer, price undisclosed.
- 3 Bed, 2 Bath, 2 Car.
- Ray White, Greg Clark.
21/2 Meta Street, Mooloolaba
- Sold under the hammer for $592,000.
- 2 Bed, 1 Bath, 1 Car.
- Define Property, Grant Whisker.
28/143 Mooloolaba Esplanade, Mooloolaba
- Sold under the hammer for $1.042m.
- 3 Bed, 2 Bath, 1 Car.
- Ray White, Peter King.
24 Viewland Drive, Mooloolah Valley
- Passed in. Offers over $890,000.
- 3 Bed, 2 Bath, 4 Car.
- Prime Property, Debbie Parsell.
37 Coolibah Street, Mudjimba
- Sold under the hammer for $1.425m
- 4 Bed, 2 Bath, 2 Car.
- Amber Werchon Property, Terri-Anne Murray.
749 & 751 David Low Way, Mudjimba
- No 749 – Sold under the hammer for $700,000. No 751 – Sold prior to auction for $600,000.
- 10 Bed, 4 Bath, 4 Car.
- Define Property, Greg Turnbull, Blake Primrose.
12 Easter Street, Parrearra
- Passed in. On the market for $1.45m.
- 5 Bed, 2 Bath, 2 Car.
- Ray White, Fiona Rawson.
136 University Way, Sippy Downs
- Sold prior to auction for $935,000.
- 4 Bed, 2 Bath, 2 Car.
- Ray White, Dallas Foster.
