On the back of : Massive government investment, strong industry investment, both creating thousands of new jobs attracting high population growth which is placing upward pressure on the supply of dwellings
This combination is an investors dream come true, all attributing to capital growth and increased rental demand
The latest Urbis report supports our research stating “the Oceanside Kawana precinct on the Sunshine Coast will be a focus for investors”, based on very sound market fundamentals in place now, under construction and planned and budgeted for
Director of economics and market research for Urbis, Malcolm Aikman, said “the Sunshine Coast’s immediate future will be driven by solid job growth on a scale rarely seen in other locations, and the Oceanside precinct is at the epicentre of this growth.” “The Oceanside precinct exhibited strong growth fundamentals, especially with billions of dollars in infrastructure spending leading to the creation of more jobs – with significantly higher wages – and population growth, which in turn should lead to greater demand for residential property,” he said.
“The $5.3 billion Oceanside Kawana project, which comprises the Oceanside Health Hub, the Sunshine Coast University Hospital (SCUH) and the proposed Oceanside Town Centre, represents one of the largest development projects in Australia and is forecast to employ 16,000 operational staff upon completion. “This increased employment will bring many more people into the precinct, with population growth within the Oceanside catchment forecast at 2.8 per cent per annum over the 20 years to 2036, well above the one per cent forecast for the Brisbane LGA.
“A major demographic shift for the population is also underway, with average wages within the precinct set to increase dramatically. The average wage of a hospital worker is $92,300, more than 60 per cent higher than the Sunshine Coast LGA median wage of $56,940.”
Population Growth expected to reach 44,000 by year 2036 at a growth of 2.8% in the Oceanside catchment area alone requiring around 8,000 new dwellings in Oceanside (averaging 450 new dwellings per annum)
Population forecast for Sunshine Coast of 380,649 by year 2026 requiring around 164,651 dwellings to house residents (2.48 persons per household) according to Sunshine Coast Council. That is 37,000 new dwellings in just 10 years
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Tags: Aura, Birtinya, Bli Bli, Buderim, Caloundra, Little Mountain, Maroochydore, Meridan Plains, Mountain Creek, Nambour, Oceanside, Oceanside Kawana, Pelican Waters, Peregian Springs, Sippy Downs, Sunshine Coast