The Sunshine Coast property market has struck overdrive with median house prices forecast to reach $1m as owners across the region ask themselves whether to cash in now or wait.
Homeowners across the Sunshine Coast are grappling with whether to cash in now or sit it out with median house prices tipped to hit $1m in just a few years.
A new property report revealed the Coast was forecast to be the first of the South East Queensland region to grow to a median house price of more than $1m by 2025.
The report, Australian Housing Outlook 2021-2024, was compiled by BIS Oxford Economics and sponsored by QBE Lenders’ Mortgage Insurance.
It showed the Sunshine Coast’s median house price for June 2021 was $830,000, compared to $815,000 for the Gold Coast and $684,000 for Brisbane.
On the back of accelerated growth, the report forecast the Sunshine Coast to have a median house price of $986,000 by June 2024 and continue to rise, compared to $915,000 for the Gold Coast and $806,000 for Brisbane.
The report said the demand for the Sunshine Coast and Gold Coast had strengthened significantly in the past 12 months on the back of interstate migration.