Australasia’s Largest Real Estate agency Ray White has reported that prestige sales in Maroochydore were one market to outperform in 2010. Ray White Maroochydore Director Dan Sowden commented that there were “27 properties sold above $1.0m mark from January 1 to September 1 2010, this is up from just 15 during the same period in the 2009”
The prestige market certainly has ‘bucked’ the broader market trend buoyed by a stronger selection of quality prestige property offered to the market. Marketing Agent Ray Norton who specialises in top end Apartment Sales reported solid buyer interest coming from both the South East QLD and Melbourne locations with buyers willing to pay a premium as long as the property was in the right location. In terms of the broader market trends, Maroochydore faired favourable to the rest of the Sunshine Coast with just a 17% adjustment to turnover over the 9 month period dropping from $205m (419 sales) in 2009 to $185m (348 sales) in 2010.
Our outlook for 2011 is much the same as 2010 however we will see more consistency as the market starts to build in confidence as the developing Maroochydore CBD takes shape with construction set to begin in the ‘Emporio’ development at Sunshine Cove as well as a number of other smaller key development sites come to the market.
Maroochydore is poised to truly become the CBD of the Sunshine Coast. With the 4 main development precincts including Sunshine Cove, Metro (Big Top) and Horton Park Golf course and the planned western extension to Sunshine Plaza these precincts will develop further in 2011 with construction commencing in at least Sunshine Cove and a number of land resumptions around the Horton Park Golf Course to assist with transport infrastructure. These changes and he many planned for the next 3-7 years will help carve the lifestyle we will enjoy locally for the next 50 years or so. 2011 will be the 1st stage to what the public will see by way of development as over the last 5-7 years the plans surrounding the proposed Maroochydore CBD have only been discussed around the board room and within council chambers.
This coming year, the residents of the Sunshine Coast will see a drive towards sophisticated mixed use developments (Emporio) that embraces the best elements of residential coastal living and commerce all mixed with the new found value of convenience in location. Why drive to work when you can simply walk or ride? With Green friendly commercial buildings already coming out of the ground, even our work spaces are set for an overhaul as the latest in green technology in development and infrastructure is delivered to our local market.
Simply, this will make Maroochydore an even better place to work, live and play.
Dan Sowden | Principal of Ray White Maroochydore