10/10/2020
We have 2 available dual keys at present in the Sunshine Coasts Peregian Springs (20 mins south of Noosa).
They are both 3 bed 2 bath 2 car LUG on one side, and 1 bed 1 bath 1 car LUG on the other.
They are strata titled so there is a body corp which is $1,560.00 pa. This gives the residence access to the Ridges Recreational Club - pool, tennis courts, kids pool, gym, BBQ areas. There is a kids skate park and a big sports oval. It feels like a resort.
The general Peregian Springs community includes:
- Great location as it has easy access to schools, hospitals, Sunshine Coast airport as well as being close to Noosa, Coolum and Maroochydore.
- Renowned first class schools and childcare centres
- Shopping centre with supermarket, takeaway stores, bakery, gym, medical, vet and speciality stores
- Dining and cuisine – various cafes and takeaway stores are located through Peregian Springs
- Natural environment – conservation areas, abundant parks, walkways, bikeways cradled by pristine landscape, the never to be built out Noosa National Park
- Beaches – Within minutes to some of Australia’s most beautiful un-spoilt beaches, patrolled areas, surf breaks. Walk or ride to the beach via the pedestrian overpass located at the end of Havana Road West.
The Sunshine Coast is a surprisingly hot market compared to the rest of QLD and most other states. There are but a few pockets who way outperform the market for a few reasons.
1. There are a lot of people in a financial position to move from Sydney and Melbourne and Brisbane. There are a LOT of people ready to leave Melbourne atm. They have been in lock down for over 6 months and I personally know a few people chomping at the bit to get up here.
Around the Noosa shire it seems as though every second or 3rd person is from down south, and has relocated up there for the lifestyle. To people from Sydney and Melbourne - Noosa and Maroochydore region are super cheap in comparison to what you can get in Syd or Melb, so they are coming and buying up what they can... sites unseen purchases in many cases. And almost all Australian money, not international investment money.
2. Covid has done 2 things - make people think about what's important, and has forced people to work from home, which made companies rethink the working from home situation. So those who can move to the beach and keep their job are doing so.
3. We had a huge influx of people moving to the Sunshine Coast. last time we had a market cycle/GFC, it didn't do too well on the coast. However, this time there is a huge amount of infrastructure in place now to support the local economy. Universities, hospitals, new roads, highway upgrades, the university is now doing basic skill TAFE like courses, so all the rural kids are coming to the area to live and study.
4. Peregian Springs happens to be in a great spot being landlocked by the ocean and protected land. So land is actually in scarcity. The problem with most investor purchases these days is that they are buying a property either in the city or in an area that will be saturated with other property developments. Brisbane City is not yet fully built out, and the same for most of the land between say North Lakes and south of Mooroochydore.
You might like to check out Peregian Beach .It's frighteningly expensive, but being only a few blocks away on the beach side from the Springs you can see how close you are to the ocean.
Another point I like to make is that being Landlocked, this supports capital growth through scarcity of land available to be developed.. in fact, there isn't much at all which coincides with the Noosa Shire Council being super strict about land development. Locals are massively supportive of keeping it the way it is.
On top that the demand has recently pushed the rents up from $740pw to $800+ for these dual key properties, and the rents are still going up as it's almost impossible to find a place to rent. For example, currently there are approximately 20 suitable applications per dwelling advertised.
When people buy an investment in an area that has lots of land around it to be developed in years to come, people buy and wonder why the rent won't increase from when they bought.. this is not the case around Noosa. So whether you ever buy around here or not, have that as your criteria for future- to avoid future saturation. This kills your return AND capital growth ;)
