The Sunshine Coast is once again seeing a massive increase in the amount of people looking to call the Sunshine Coast home, and who can blame them?
Rewind five or six years, and the population locally was growing at an amazing rate, we had families from all over the world locating to the area. Not only were we being inundated with people from overseas mainly Europeans, South Africans and New Zealanders, but plenty of interstaters. Many of which were initially here on holidays, and then the pipe dream begins, the seed is planted, ‘wouldn’t it be nice if…?’.
We see it year in year out, but lately we have noticed an influx of families and individuals from across the globe, wanting to experience the wonderful lifestyle that the Sunshine Coast has to offer. The local job situation isn’t improving quick enough, or at a pace to cope with the increase of residents, which leaves the new-comers with limited options, so inevitably many have to ‘buy themselves a job’. Granted, this situation is nothing new, but five or six years ago, pre-GFC, businesses were coming to market in abundance and selling like hot cakes, today it’s a completely different market.
Businesses on the market, on the Sunshine Coast and beyond, are at a record low level. The SEQ corner is experiencing the lowest number of businesses for sale for over 10 years, this doesn’t mean that transactions aren’t happening. Business brokerages across the Coast are busy, there is a tremendous amount of buyer confidence out there, not even the recent budget has held the buyers back. This is also evident in the housing market, more and more for sale signs are emblazoned with SOLD stickers, what a great confidence booster for everyone on the Coast, exciting times are ahead.
Due to the current supply and demand situation, prices are being pushed up, residentially, commercially and business sales alike. Multiple offers and off the market transactions are taking place, snooze and you lose.
The shortage of good businesses available could be short lived; obtaining stock is paramount at present, for all. Business owners are all keeping a close eye on what the market is doing, trying to ascertain whether it is a good time to move on to pastures new. Inevitably at this time of year, accountants are working on year end financials, business owners are waiting to see if their business is saleable or if it is another year or two before they can consider selling. Some may have no option but to sell, in another couple of months, the market could be saturated with opportunities, good, bad and indifferent. With buyer confidence sky high and even some of the banks beginning to play ball again, it is a great time to sell.
Market conditions are changing, attitudes are changing, and transactions are going to be happening thick and fast, so far 2014 has already given us a taste of what’s around the corner, don’t look back and rue your opportunity.
AUTHOR: Russ Longland