Caloundra Hits Investment Sweet Spot

Caloundra hits the sweet spot as one of Australia’s prime real estate investment locations according to respected personal finance magazine, Money.

Our much-loved beach-side community cracked the National Top 10 list of the hottest suburbs published in the September edition, where it was praised for affordability, strong tenant demand and proximity to desirable infrastructure.

The magazine even highlighted Caloundra’s best streets to buy in, listing the area bounded by Arthur Street, Canberra Terrace, Minchinton Street and Bulcock Street as the cream of the crop for future returns.

“Standout features of the sweet spot are low levels of public housing, high concentrations of the most in demand property type (two bedroom apartments), strong tenancy demand (about 50% of households rent in this precinct) and above average rental yields.

“It is within walking distance of major shopping, several schools, beaches and array of services,’’ the magazine said.

 “Caloundra is such a coastal suburb whose old reputation as a down market area is changing, yet it still offers affordability.

“The median price for two bedroom apartments…is $396,000. The area’s vacancy rate is low, about 1.3%, and rents are strong, a median of $410 a week, which suggests good rental returns for investors,’’ it said.

Henzells Director Roy Henzell said the article reinforced what the agency had been stating for some time, that the southern portion of the Sunshine Coast stood out as a highly attractive place to invest.

“The region has left the doom and gloom of the GFC well behind with the Caloundra region in particular performing very strongly,’’ Mr Henzell said.

“Major spending on infrastructure such as the new $2 billion Kawana Health Precinct is creating an array of new economic opportunities and a very strong jobs outlook.

“Caloundra’s friendly relationship with Brisbane buyers just an hour down the highway gives it a unique advantage over its northern Sunshine Coast neighbours,’’ he said.

The region has a sense of its own mini economy fuelled by historic support from Brisbane sea-changers and its own local popularity.

Quality properties are being snapped up as soon as they hit the market and agents are reporting a huge influx of new buyers capitalising on the excellent market conditions to make the sea change they have always dreamt of.