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Noosa Heads and Noosaville have been named the Sunshine Coast’s Top 2 suburbs by research house RiskWise Property Review.
RiskWise Property Review CEO Doron Peleg said Noosa Heads, in particular, had become the single most popular residential suburb across the Sunshine Coast with a high likelihood of strong capital growth in the medium to long-term.
“It probably comes as no real surprise, but this is primarily driven by the suburb being surrounded by some of the region’s most pristine beaches and prime bushland areas,” Mr Peleg said.
“This outstanding lifestyle is supported by the abundance of excellent restaurants, local shopping areas, a superb golf course and endless walking tracks.
“And the increasing popularity is set to be driven by Queensland’s growing population of retirees and their desire to live in dynamic coastal areas.”
RiskWise uses an innovative and comprehensive algorithm to determine the suburbs with the best value.
The algorithm, which allows buyers a glimpse into the long-term risk-or-reward of a property, enables RiskWise to instantly provide a detailed analysis report that measures current and historical data and dozens of variables against a broad range of risk factors, ultimately scoring the property or suburb’s risk potential from minimal to high.
Mr Peleg said a large number of established families, due to local and intra-state migration, were projected to bring strong demand to prestigious beachside suburbs on the Sunshine Coast.
“This trend has already begun, with a growing number of retirees seeking coastal properties to live,” he said.
“Higher numbers of intra-state homebuyers, investors and renters are also set to drive demand in Noosaville.
“With many affluent migrants moving to the Sunshine Coast in search of an improved lifestyle, demand for suburbs in prime localities such as these is likely to grow.
“The ageing population across Queensland is set to drive this demand, as greater numbers of wealthy retirees move from urban centres in search of luxury properties in prominent coastal areas.”
Mr Peleg said both suburbs enjoyed outstanding facilities aimed at established families and retirees, a coastal location second to none, and a pristine surrounding environment of national parks and recreational areas.
In addition, a limited supply of available land for housing developments was increasing demand for existing properties in both Noosa Heads and Noosaville.
“While the moderate number of new building approvals across these suburbs add moderate risk of oversupply, it is likely that the additional supply will be comfortably absorbed into the market due to strong ongoing demand,” he said.
“The typically low vacancy rates across these suburbs is also an indication of the strong demand for houses in the suburb.
“It is likely that such demand will remain and, if anything, increase as the number of retirees across Queensland grows.”