Despite the recent softening of the Queensland property market, there are still great opportunities for both buyers and sellers on the Sunshine Coast, suggests Simon Thomas, Business Development Manager for Harcourts Queensland.
“The Sunshine Coast property market has shifted over the last two to three years. The exceptional growth the region was experiencing started to slow a few years ago.
“The influx of buyers from Australia’s southern states and overseas has slowed and a lot of stable employment within the construction sector has dried up – a lot of people within the building sector have had to go to Brisbane or the mining sector for employment,” Mr Thomas said.
Despite this, Mr Thomas suggests that there are still some positive signs within the Sunshine Coast’s property market.
“The good news is that there are some significant new developments happening around Maroochydore and Caloundra which will give these areas more of a focus on employment and growth,” Mr Thomas said.
Within Maroochydore, the City Council are planning on shifting and growing the central business district, while in Caloundra, a multi-billion dollar development plan is underway with a focus on affordable housing and employment hubs to cater for some of the 170,000 people expected to come to the Sunshine Coast over the next decade.
“The other good news is that property sellers are finally becoming realistic and genuine about selling. Vendors are listening to the marketplace and are pricing their properties accordingly. Properties continue to sell and vendors who price their expectations accordingly are getting good results. Ultimately, buyers are looking for the right stock at the right price,” Mr Thomas added.
Given the current market conditions, Mr Thomas suggests that there are many great opportunities for buyers at the moment.
“For buyers, this is absolutely the best value market we’ve seen in five years. In general, there has been an oversupply of properties on the market; hence buyers in any price range are spoilt for choice. Buyers are driven by value and will scour the market looking for the best value property,” Mr Thomas continued.
Looking forward, Mr Thomas believes that as market confidence grows, more buyers will enter the market in 2012.
“We’ve already had two interest rate cuts, which has had a huge bearing on confidence and stabilising the local market. Looking ahead, we could possibly see another rate cut between now and June. If this happens, property prices won’t necessarily increase, but it will encourage more buyers into the market place, which will promote steady growth,” Mr Thomas continued.
An established auctioneer and real estate trainer, Mr Thomas has over twenty five years of experience in property sales, agent training and sales management. Having recently joined Harcourts as Northern Region Business Development Manager, Mr Thomas will bring his sales management, auction procuring and extensive real estate skills and experience to the group.
