“What will the Sunshine Coast housing market be like into 2022?”
by Leigh Martinuzzi
This would have to be the most common question I receive from SELLERS, buyers, LANDLORDS & developers right now.
The Sunshine Coast has been undervalued, overlooked & underappreciated for many years & this is more evident now than ever before. And it is very quickly catching up!
The fact still looms that we continue to operate in a very heavily insulated & inflated housing market due to several key factors.
– Interest rates remain @ record low levels
– 2021 hit with nearly 50% less property supply
– COVID created more cash stimulus everywhere
– Migration from interstate interest into QLD
– Returning expats due to COVID
How long is this market sustainable?
Well, whilst interest rates remain as they are, with the borders opening up & our population growth about to skyrocket from interstate buyer demand and even people relocating from our capital city looking for a sea change, we can only expect more good selling conditions for sellers on the Sunshine Coast over the next few months. The clear lack of properties FOR SALE continues to insulate us from a slowing or even declining rate of growth which is currently being felt in NSW and Victoria.
The key factors to look for in 2022 will be an increase in SUPPLY and a possible interest rate rise. How many homes come on to the market at the commencement of 2022 will determine our start into the new year.
Also, positioning of finance approvals will be vital into 2022 as new responsible lending regulations have now been applied to help aid the volume of debt currently being taken up by Australians, in an effort to reassess household’s serviceability levels.
But as always, base your decisions on what is best for you or your families’ circumstances when it’s time to move, the market & housing values will always be a variable, play the long game and you will always come out in front.
My TIP, December, January and even February seller conditions will remain strong as more population push into our Coastal towns and the property market remains tight.
Fixed mortgage rates are rising, higher listings are taking some urgency away from buyers, affordability has become a more substantial barrier to entry and credit is less available.
We expect inventory levels will continue to normalise into 2022 which should see selling dynamics gradually shift away from vendors, providing buyers with some additional leverage at the negotiation table.