Plenty of sizzle left in local market

Another summer has come and gone but there is still plenty of sizzle in the Caloundra real estate market with strong levels of activity occurring across Henzells’ sales, rental and holiday teams.

We are seeing a steady flow of new listings coming to the market, and demand for houses and units across the southern Sunshine Coast is at encouragingly high levels due to steady interstate migration and locals looking to upscale, move laterally or downsize. 

Caloundra real estate prices have cooled slightly since the pandemic property boom where values surged more than 52% from March 2020 to April 2022, resulting in a median house price of $961,212.

Caloundra has experienced the smallest downturn on the Sunshine Coast since that period of around 9% and they are still way above pre-covid levels. With the big four banks predicting that interest rates will start falling again by the end of this year, we should see continued confidence and optimism in the Caloundra real estate market.

Buyers actively looking for Caloundra stock

With buyers actively looking for Caloundra stock, now is an excellent time to list your home if you have been thinking of selling. Henzells has an extensive database of pre-approved clients ready to buy right now. 

While a decent proportion of our real estate enquiry comes from out-of-area buyers, the lion’s share is local. Opportunities abound, and a raft of exciting projects coming on line in Pelican Waters such as new land releases, signature terraces, and The Cove development will do much to appease the healthy appetite for Caloundra real estate.

It should come as no surprise then, that Caloundra has been identified as a “rising star” for 2023 and one of the top suburbs in Australia to buy property based on factors including sales volumes, price growth, vacancy rates, rental growth, infrastructure spending and amenities.

As one of Australia’s regional ‘hot spots’, the outlook for Caloundra is promising as a leading recipient of population growth from internal migration and an exodus to affordable lifestyle, according to the annual Rising Stars report.

Major infrastructure spending

Massive Sunshine Coast infrastructure projects such as the Bruce Highway upgrade, the $550 million Beerburrum to Nambour rail upgrade, Sunshine Coast Airport expansion and major residential and commercial developments in Aura which will house around 50,000 people on completion are providing a huge incentive for investors and residents to be involved with one of Australia’s fastest growing destinations.

Pelican Waters continues to flourish as one of SEQ’s most exciting lifestyle and investment hubs, home to new and emerging projects including the multi-million-dollar marina precinct, luxury 200-apartment residential community The Cove, Rockpool’s $44 million aged care facility and the region’s first purpose-built vertical retirement village by Oak Tree Group which opened in 2021.

Marina nearing completion

Regarded as the jewel in the crown, the Pelican Waters Marina is expected to be completed in 2023, comprising a fully enclosed 3,000sqm shed for the storage of up to 160 boats up to 10m in length, unlimited boat lifts, one hour launch and retrieval service, boat washdown and engine flush amenities and client lounge – a first for the Sunshine Coast.

A fully serviced boat yard will facilitate the needs of all boaties in Caloundra and surrounds.  Pelican Waters is currently speaking with shipwrights, boat mechanics and canvassers who are keen to be a part of this opportunity.

On the water, the network of floating pontoons is setting the scene for what will be a thriving hub of nautical activity once the boats arrive. 126 berths up to 15m in length are now installed. Services are being currently fitted.  Fuel tanks, including both premium diesel and premium unleaded petrol will service the wider boating community.

Outside of the marina-based operations, an exciting new waterfront restaurant is also part of the development.

Caloundra beach towns booming

Buyer interest is spread across all Caloundra suburbs, with the blue-chip locations such as Kings Beach, Moffat Beach, Bulcock Beach and Dicky Beach always near the top of the list.

The demographic in Caloundra’s beachside towns has changed over the past few years. Where once a majority of the real estate activity was investor based, Henzells is now seeing more owner occupiers and lock and leave buyers moving in.

In the aftermath of COVID and with working from home now commonplace, many people are electing to prioritise location and lifestyle, while investing in something stable.

Noosa is still considered out of the budget for many buyers and the Caloundra beach towns fill the gap, being comparatively more affordable.

The proximity to Brisbane and unique laid-back charm of Caloundra are also major advantages.

Investment in Caloundra residential real estate remains an attractive option, with the region experience high demand for rental properties.

The gap between supply of rental properties and demand continues to impact the market affecting owners and renters in different ways.

There is no doubt renters are facing increased competition from other prospective tenants, while owners are enjoying steady returns and vacancy rates of almost zero with the right property managers working for them.

In 2022, Henzells processed 11,000 enquiries for rental properties, hosted 372 inspections and received 2130 applications.  Average weekly rent for the year rose 15% to $614, vacancy rate was just 0.59% and 99.76% of tenancies were fixed-term agreements.

Henzells skilled property management professionals are resourced to give every property the attention it deserves, whether it is a small unit, executive home or commercial real estate.

For rental property owners, the importance of having the best property management team behind you cannot be overstated.

Henzells staff have the expertise, specialist training and proven processes bedded down over many decades of successful operation to ensure a stress-free experience for owners and tenants.

Our property managers are across all the legislative changes that can impact the rights and responsibilities of landlords such as smoke alarms and the recent amendments to residential tenancy legislation in Queensland relating to notice to terminate, pet policy and emergency repairs.

Our training is up to the minute and ongoing to ensure owners are always safeguarded by the optimal professional service and advice in a complex and ever-changing industry.

Our property owners also benefit from the continuity of dealing with the same friendly faces, as staff longevity at our family-owned business is something that sets us apart from other agencies. Changing property managers is an easy process, much simpler than people think. Give us a call to find out how.

For renters, it’s not all bad news, with a number of quality rental properties available in the Caloundra region despite what the headlines are saying.

Old fashioned service, cutting edge technology

Since 1935, through all economic cycles, Henzells have been responsible for the marketing of the vast majority of real estate in the Caloundra region and have been able to deliver consistent, sustained results due to our unrivalled industry experience, adaptability and local knowledge.

Henzells Caloundra is the longest-operating and largest full-service independent real estate agency on the Sunshine Coast. We are passionate about doing the simple things well and providing old fashioned service backed by cutting edge technology and innovation.

If you are looking for friendly advice on planning your best way forward, we are here to help. Give us a call today on 07 5491 2000.