Price bar rises as property market primes for big year
BUYERS have not let the festive break slow down their search for the ideal property with agents rounding out a year of record sales and forecasts strong for another hot real estate market in 2020.
Price growth and demand have remained strong thanks to a combination of active Sunshine Coast and interstate buyers.
For local agent Mark Osborne, 2019 has been a year in which modest homes in everyday locations have set street record prices.
"Modest houses have been fetching the best dollars ever reached on their respective streets in 2019," he said.
"Many are humble and unrenovated homes, a strong indicator that Sunshine Coast locations near water or infrastructure are what local and interstate buyers are chasing with vigour."
Working with teammate Leon Howe for Property Today they've notched up a string of street-best prices with double digit increases over previous records.
The May 17 sale of 24 Emperor Ave in Maroochydore for $686,000 raised the bar by 12.64 per cent while a humble two-bedder in Kalanda Ct in Dicky Beach sold in September for $597,500 topped the previous mark by 16.24 per cent.
Despite the Melody Court precinct in Warana comprising more than 300 units, the $600,000 sale of unit 196 in October was nine per cent up on the previous best.
A modest Wurtulla St home in Maroochydore this month set a mark of $720,000, also up more than 9 per cent on the previous street record.
"The currently low interest rate environment and record population growth are the driving market forces underpinning the price increases, along with our enviable climate," Mr Osborne said.
Jamie Willems of Harcourts Caloundra said there was big money for ocean side blocks of land at Wurtulla with a private sale registering at $925,000 and another for $1 million.
An Aroona home with ocean views has sold for $1.2 million, 10 per cent above the previous suburb record in an area where beachside prices had been rare.
One of his buyers paid $825,000 for a Currimundi home on the western side of the Nicklin Way with Kate Jewry of Property Today selling another 500m up the road for the same price.
"We've had a lot of inspections through the Christmas break," Mr Willems said.
"Buyers are showing a fair bit of optimism."
North of the Maroochy River Jay Pashley of North Shore Realty said the market had set a base price of $650,000 for anything, representing the underlying land value.
"Builders and tradies are saying next year looks strong," he said.
"Prices aren't racing ahead but they are going that way.
"It feels really good.
"There's a lot of longevity in it."