Still Hot: Sunshine Coast Property
Jennifer Swaine discovers that when it comes to property, the region is still hot but the market is changing.
As we closed the chapter on 2021, happy to have a short reprieve from the madness of the past two years, the property market across the Sunshine Coast and Noosa remained hotter than ever.
When I spoke with Buyers Agent Kirstie Klein Hunter earlier this month, she reaffirmed that while the local market remained hot there were some distinct changes starting to come through.
“The market is definitely not what it was in 2021, but demand remains equally as strong,” Kirstie said.
“Last year a home might sell within 24-to-48 hours of being listed but what I am seeing now is a bit of breathing room.
“Properties are still selling quickly but there is less urgency from buyers, many of whom are now prepared to wait a bit longer for the right property.”
Kirstie specialises in the Noosa region and works with real estate agents to secure properties for interstate and overseas clients with many purchases being made before the property officially comes onto the market.
Here are her thoughts on what we can expect to see over the coming months:
Off-market is on
As if finding your dream home in Noosa wasn’t hard enough, Kirstie said the start of 2022 had seen a significant increase in ‘off market’ deals being done but cautions this is often budget related.
“Many of my clients are in a strong financial position and when they specify the type of property they are looking for, we will work with agents to see if they have clients who may not have come to market yet or who may not have even thought about selling; but might be willing to sell their property.
“For many sellers, this can be a blessing as it saves them the time and effort of having open homes and people traipsing through their property.
“Often buyers will pay a premium to ensure the property does not go to market and that offers a level of comfort to the seller. It’s not for everyone but if the budget is right, it can be a win/win for both parties,” Kirstie said.
Keep it real
This is an emotional subject as everyone wants to sell at the height of the market and get the best price possible for their property – but sellers need to remain realistic.
“We have finite stock in Noosa and the demand for property remains high, but sellers need to listen to their real estate agent and be realistic about the price they are prepared to let their property go for,” she said. “There is a limit to what people will pay in any market and being unrealistic may mean you miss out on the best offer available at the time.”
Desire not desperation
Compared to this time last year Kirstie said her enquiries have more than doubled but there has been a shift in how quickly people are looking to transact.
“I have seen a significant increase in enquiries but what I am noticing this year is that people have a more measured approach,” she said. “They are still willing to move quickly if the price and location is right, but the levels of urgency are not the same as when the southern states were in lockdown.
“My clients are coming from a very strong financial position and this year that sense of urgency has really been replaced with a desire to find the right property even if it isn’t yet for sale!”
Bye bye Byron
With easy access to the Bruce Highway and a new airline, Bonza, soon to land at the upgraded airport, regional travel is more accessible so it’s easy to see why entrepreneurs are swapping Byron Bay for Noosa.
“It’s not just the ease of travel that is enticing these tech-savvy entrepreneurs to the region,” Kirstie said.
“We are attracting a lot of attention due to the high-speed subsea cable, the new CBD and the growth that will come from Brisbane and the Sunshine Coast securing the 2032 Olympics.
“And dollar-for-dollar they can buy a stunning property in the Hinterland but still be close enough to Noosa when they want good restaurants, coffee and shopping experiences.”
While there is still demand for investment properties this is outstripped by buyers seeking a lifestyle change says Kirstie.
“The majority of my enquiries are from people wanting to relocate here, but that is where the similarities end,” she said. “Primarily it is people from Sydney and Melbourne wanting a sea change. Some are retired but many are couples with kids who are done with the pressures of living in the big cities.
“People want to be able to drive their kids to school and then pick them up at the end of the day and be able to take them to sport or the beach. For them, this change in pace and lifestyle is like finding Nirvana – and I have to say I completely agree with them – we are just so lucky to live here.”
And Kirstie is right about that.
As much as the past two years have been stressful and crazy with a lot of uncertainty thrown into the mix, we really are very fortunate to call the Sunshine Coast home and it’s of little surprise that others want to join the club!