The Sunshine Coast is transitioning from a holiday hotspot to an investor’s haven, according to one franchise group.
Lachlan Walker, Place Advisory director, said the tourist location is transforming into an area with flourishing employment opportunities and massive infrastructure development.
“Nothing epitomises the Queensland summer holidays more than a visit to the Sunshine Coast,” Mr Walker said.
“But soon the 'Sunny Coast' will not just be synonymous with words like ‘tourism’, ‘travel’ and ‘holiday’ – the Sunshine Coast is becoming a property hotspot, with huge growth potential.
“For the savvy investor, buying into this area is a chance to take advantage of the renewed infrastructure, the emerging luxury market, and the subsequent increase in buyers with cash.”
The transformation of the region comes down to infrastructure and projects, and the subsequent employment opportunities being created, Mr Walker claimed.
“As a region where economic growth has generally been dictated by tourism, the Sunshine Coast is undertaking a multitude of infrastructure projects to bring about a more sustainable long term vision,” he said.
Almost $790 million will be spent on major infrastructure projects in the health and transport sectors in the area, including the Sunshine Coast University Hospital, which will generate 2,000 construction jobs, and 3,500 permanent jobs once completed in 2016.
Meanwhile, the Coast Connect is a $350 million state-funded public transport upgrade to assist in the stimulation of economic growth and to cope with the expected population boom.
With strong growth forecasts, interstate and international investors and buyers will eventually turn their eye to the now local-dominated buyer market.
“Currently, 90 per cent of houses sold in the Sunshine Coast are being purchased by local residents, while a further nine per cent are being sold to interstate buyers and one per cent of homes are being purchased by international buyers,” Mr Walker said.