Peregian Springs Property Factsheet 2nd Half 2018
Peregian Springs is a suburb located approx. 21kms north from the heart of the Sunshine Coast. Homes in the suburb include independent living units, serviced apartments, and retirement village; which are part of the master planned community. According to ABS Census 2016 37.8% of occupied private dwellings in Peregian Springs were rented, higher than the Queensland average of 34.2%. This signals a healthier rental market, which is good news for investors.
The Peregian Springs house market strengthened by 1.6% over the past 12 months (Q3 2017 – Q3 2018), recording a median house price of $640,000 in Q3 2018. The unit market strengthened significantly, by 18.2%, recording a median unit price of $520,000 in Q3 2018.
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 and units in the Peregian Springs market reflect premium median sale prices. Units in Peregian Springs in particular offers higher capital growth potential. This provides great investment opportunities for buyers who are looking for a sea-change.
Median rental prices for house have increased over the past 12 months to Q3 2018, by 2.0% to $500 per week. Median unit prices have also strengthened, by 2.2% to $460 per week. Astute investors need to take advantage of these strengthening rental prices and enter the market, particularly as average days on market for both property types are low, indicating quicker returns.