Property Investment Sunshine Coast
In the past, if you were looking at property investment on the Sunshine Coast you had only one option: chasing the tourist dollar. You could buy a holiday home, an apartment or unit and let it out to beach hungry visitors. It made sense to capitalise on the Sunshine Coast’s reputation as a pre-eminent holiday destination, but it also meant suffering through the seasonal fluctuations.
Thankfully, times have changed. You’re making a big mistake if you continue to think that tourism must be your only focus when it comes to a Sunshine Coast investment property. You can maximise the potential of your Sunshine Coast property investment if you’re prepared to look beyond the sun, surf and sand at the bigger picture.
The Sunshine Coast as a lifestyle destination
The Sunshine Coast has always been, and will always be, a lifestyle destination. The reasons for this are abundantly clear. First and foremost, as its name suggests, the Sunshine Coast is blessed with a sub-tropical climate and experiences average temperatures ranging from a minimum of 10°C up to 28°C, depending on the time of year. With its dramatic hinterland and Glasshouse Mountains backdrop, beautiful beaches and stunning crystalline waters, breathtaking vistas and pleasant climate, what’s not to love about the Sunshine Coast?
For years, retirees and sea-changers have been making their move to the Sunshine Coast to capitalise on these unique lifestyle factors. It’s now your turn, but for different reasons.
Explore current investment properties available on the Sunshine Coast.
The Sunshine Coast – So what’s changed?
You’d have to be living on Mars not to have noticed just how dramatically the Sunshine Coast region has changed over the last decade or so. There are a number of reasons for this.
Improved ‘connectedness’ as a factor
Freeway and highway developments and, in particular, upgrades to the Bruce Highway and Sunshine Coast Motorway, have ensured that the Sunshine Coast is closer than ever to Brisbane…at least when it comes to travel times. With it has come the realisation that it’s possible to have a Brisbane job and still enjoy the unique Sunshine Coast lifestyle. Commuting puts it within your grasp. Better roads also mean a more efficient and cost-effective way of handling freight.
It’s not only the Sunshine Coast’s proximity to Brisbane that’s a major selling point. It’s also the fact that it’s now directly connected to other parts of Australia and to New Zealand. This has come about because of the development of the Sunshine Coast airport at Marcoola, approximately 10km north of Maroochydore. The airport connects the Sunshine Coast with Sydney, Melbourne and Auckland, New Zealand. The economic gains made as a result of expansion of the Sunshine Coast airport are set to be consolidated over coming years. A planned $346 million expansion of the airport will create a direct connection between the Sunshine Coast, Asia and other overseas destinations. This won’t just bring more tourists into the area. It will also greatly improve freight transport and boost trade in the area as well.
Similarly, the proposed Sunshine Coast and Caboolture railway line upgrades will have the effect of improving accessibility to the Coast along ‘south-east Queensland’s longest passenger rail line’. And with that, the Sunshine Coast’s not just a pretty holiday destination. It’s now open for some serious business.
The Sunshine Coast economy
Tourism will continue to play a large role in the Sunshine Coast economy. It’s home of the internationally-acclaimed Australia Zoo in Beerwah, SEALIFE Mooloolaba (formerly known as Underwater World), and the Ginger Factory at Yandina – and these are just a few of the many tourist destinations on the coast. In early 2015, the Sunshine Coast Council also granted initial approval for a proposed $90 million water theme park. If completed, it will be another feather in the region’s cap as a tourism drawcard.
By diversifying, the local Sunshine Coast economy has better positioned itself to weather the ups and downs associated with too heavy a reliance on tourism.
Diversification has also resulted in the building and construction industry becoming one of the top employers of Sunshine Coast residents (11.8%), just a fraction off its nearest competitors, the retail sector and health care and social assistance sector.
Population growth and urban development
The Sunshine Coast population is a growing one, averaging roughly 1.9% growth per annum over the five year period ending in June 2014. By 2036, it’s anticipated that the population will have jumped to almost 470,000 people. They’re not tourists passing through. They all need a roof over their heads, workplaces, schools, hospitals and childcare services. They need shops, services and businesses to patronise. That’s where opportunity knocks when it comes to your property investment options on the Sunshine Coast.
As at the end of August 2015, the Sunshine Coast Local Government area boasted:
- 157 early childhood education and care services;
- 73 schools;
- 12 hospitals; and
- 76 aged care services.
(Source: Queensland Regional Profiles: Resident Profile for Sunshine Coast Regional Council Local Government Area, Queensland Government Statistician’s Office, Queensland Treasury). Best of all, the Sunshine Coast is set to benefit from several infrastructure development and expansion projects that will make it an even more attractive lifestyle destination.
Infrastructure projects on the Sunshine Coast
The Sunshine Coast is set to benefit even more from a co-ordinated program of infrastructure development. If you play your cards right that could translate to a windfall when it comes your decision to invest in property on the Sunshine Coast.
One of the most promising projects expected to have a marked effect on the Sunshine Coast property investment market is the much-anticipated Sunshine Coast University Public Hospital. Set to open in late 2016, this university teaching hospital will be one of the biggest employers in the area. You’ll also notice that it will be a major drawcard attracting people to the Coast, particularly if they’ve been dissuaded from making the move previously because of chronic health issues and the need to remain proximate to the Brisbane hospitals.
The hospital will also be complemented by the Kawana Health Campus and Oceanside Health Hub. Collectively, they’re expected to inject about $447 million a year into the local Sunshine Coast economy.
A second project that’s likely to thrust the Sunshine Coast into the property investment spotlight is the Maroochydore City Centre Priority Development Area (PDA) Scheme. It’s effectively a redevelopment of approximately 60 hectares of Council and State government-owned land. The PDA is expected to create a new central business district for the Sunshine Coast and stimulate intense economic development in the area. You can find out more about the Scheme here. That’s not all. The Sunshine Coast Council’s Regional Economic Development Strategy 2013 – 2033 is set to fast-track the local economy into taking its rightful place in the global economy. You can access more information about the Strategy here. It’s hoped that careful implementation of the Strategy will result in a tripling of the local economy to $33 billion within the next two decades.
The Sunshine Coast as a home base for commerce and employment
It’s not just people who are flocking to the Sunshine Coast. Greater reliance on the internet and improved transportation corridors between the Sunshine Coast and Brisbane have served to make the Sunshine Coast a viable and attractive base for business. In fact, some of Queensland’s biggest employers now call the Sunshine Coast home, including:
- Gourmet Garden;
- Buderim Ginger;
- Stellar Asia Pacific; and
- Westfund Health.
That also means that you shouldn’t limit your search for an investment property on the Sunshine Coast to residential properties. The commercial property investment sector is looking particularly promising. You need to consider whether investment in commercial property might be a better option for you in the long run.
Commercial property investment on the Sunshine Coast
The Maroochydore City Centre Priority Development Area (PDA) Scheme is set to create a new CBD for the Sunshine Coast. However, it’s not your only option when it comes to commercial property investment on the Sunshine Coast. Some of the other commercial property investment options you should explore include:
- The Caloundra Central Business District Revitalisation project.
- The Sippy Downs Business and Technology Park.
Residential property investment on the Sunshine Coast
If you’ve fully explored your commercial property investment options on the Sunshine Coast and your heart’s set on residential property investment, don’t despair. There are plenty of options that will allow you to capitalise on the Sunshine Coast’s current and projected population growth. Current land releases and residential estates include:
- A number of estates at Caloundra including Bells Reach, Meridian Springs and the Creekwood Estate
- The Brightwater Estate at Mountain Creek; and
- Palmview Estate near Mooloolaba.
Making all the right moves when it comes to property investment on the Sunshine Coast
Finding the right property investment fit for you on the Sunshine Coast isn’t as hard as you think. At Tandem 54 we have an intricate understanding of the complex Sunshine Coast investment property market. We can show you how to make property investment in this area work for you. Call us today on (07) 3861 9853.