Coolum Beach Property Factsheet 2nd Half 2018
Coolum Beach recorded a median house price of $743,000 and $400,000 for units in Q3 2018, which represented an annual (Q3 2017 – Q3 2018) price change of 6.5% and 12.7% respectively. In comparison to the Coolum Beach 1st Half 2018 Research Factsheet, which reported an annual (Q1- 2017- Q1 2018) price change of -1.2 % for house and 2.3% for units, properties in Coolum Beach has experienced a significant strengthening in value.
The Sunshine Coast Regional Local Government Area (LGA) recorded median prices of $610,000 for houses and $420,000 for units, signifying annual (Q3 2017- Q3 2018) price growth of 2.3% and -1.8% respectively. Compared to the LGA, houses in Coolum Beach reflect a premium market, from an entry price and capital growth perspectives. Coolum Beach units are more affordable however with higher capital growth, making it an ideal investment opportunity.
Median house rental prices have increased over the past 12 months to Q3 2018, by 8.9% to $475 per week. investors are benefiting from very low average days on the market for both rental property types, indicating a strong rental demand in Coolum Beach. According to ABS Census 2016 33.9% of occupied private dwellings in Coolum Beach were rented, on par with the Queensland average of 34.2% and higher than the Australian average of 30.9%. This is good news for investors looking to enter the market.Coolum Beach is set to invest approx. $44.2M worth of future developments in 2018. The majority ($23.8M or 54.0%) is allocated to residential projects, followed by commercial developments ($10.2M or 23.0%), industrial ($6.7M or 15.0%), and infrastructure projects ($3.5M or 8.0%).