Coolum Beach Property Factsheet 1st Half 2019
Coolum Beach recorded a median house price of $679,000 and $433,200 for units in Q1 2019. This is an annual (Q1 2018-Q1 2019) slight softening of -1.6% for house and a strengthening of 14.0% for units. Compared to Coolum Beach 2nd half 2018 Research Factsheet, which reported an annual (Q3 2017 – Q3 2018) median price change of 6.5% (house) and 12.7% (units), houses in Coolum Beach* have become more affordable whilst units have strengthened in value.
In comparison, Sunshine Coast Regional Local Government (LGA) recorded a lower median house price of $600,000 in Q1 2019, which represented an annual softening of -4.7% between Q1 2018-Q1 2019. Median unit price was $418,000 in Q1 2019, representing an annual price softening of -2.8%. This suggest that Coolum Beach is a premium market compared to the LGA, both in terms of entry sales price and capital growth perspectives.
The median rental price for both house and units strengthened over the past 12 months to Q1 2019. Houses recorded an annual strengthening of 8.3% to $520 per week, units showing resilience at 3.1% price growth to $400 per week. Investors are currently benefiting from low average days on the market for houses at 19 days and units at 20 days. Astute investors need to take this opportunity to enter the market, as vacancy rates in Coolum Beach were recorded at a low 2.0% in December 2018, well below that of Brisbane Metro vacancy rates of 3.2%.
In the 1st Half of 2019, Coolum Beach is set to invest approx. $38.1M in future developments. The majority ($33.0M or 86.5%) is allocated to mixed-use projects, also followed by a small scale of industrial developments ($3.0M or 7.9%) and infrastructure projects ($2.1M or 5.6%). The combination of the following projects will increase liveability aspects for current residents and attract more business.