THE Sunshine Coast is the shining star in the regional property market, recording the largest increase in house values.
The latest Quarterly Regional Market Report (September) by CoreLogic has revealed that house values on the Sunshine Coast have, on average, rose 7.7 per cent over the 12 months to September.
57 WHISPERING GUM AVE EUMUNDI – Sold by Tom Offerman Real Estate for $1.01 million
Of the other major regions, house values on the Gold Coast recorded the second highest growth with house values rising 4.3 per cent.
Wide Bay recorded a 1.7 per cent jump in house values, and Cairns was up 1.4 per cent.
In terms of units, the Sunshine Coast was again the top performer, with values increasing by 5.3 per cent. On the Gold Coast, unit values rose 2.8 per cent.
Cairns (-0.7%) and the Wide Bay (-0.6%) both recorded falls in median unit values.
Townsville was the only major regional centre to record a fall in both house and unit values over that same period.
“Sunshine Coast home values have increased over the year to September 2018, with detached house values increasing by 7.7 per cent and unit values increasing by 5.3 per cent, bringing the current median house value for the Sunshine Coast region to $617,785 and $429,886 for units,” according to the report.
34 MAHOGANY DVE MARCUS BEACH – Also sold by Tom Offerman Real Estate for $1.25 million
Leading the way was the Noosa council region, which recorded an 8.5 per cent increase in house values (to $710,321) over the 12 months to September.
It was also revealed that while sales transactions were down on last year, houses were selling three days faster than a year ago and unit were being snapped up nine days faster.
12 Hardwood Court – Sold by McGrath Estate Agents for $765,000
In terms of the Gold Coast, house values had increased by around $26,000 over the past year, according to CoreLogic.
However, median time on market increased for both houses and units, up six and seven days respectively.
5370 Bay Hill Terrace, Sanctuary Cove – Listed with Ray White Prestige Gold Coast for $615,000