With mortgage rates at historical lows and inflation set to decline, homeowners and buyers have more money in their pockets and are starting to regain confidence in the property market. As a result, there are still buyers in the market who are actively looking to purchase property within all price brackets. While it is a great time to acquire property, the market conditions for sellers have changed quite dramatically during the past 12 months or so.

Homeowners looking to sell need to recognise there are fewer buyers in the market and those who are in the market to buy, have a greater selection of properties to choose from. Ultimately, this will affect the rate at which properties will sell as buyers with more options on their hands take longer to make decisions. 12 months ago, the average days on market for a sale property was 60 days. Now, homeowners are looking at an average selling period of anywhere between four to six months.

While demand for Sunshine Coast property remains steady, homeowners need to be financially prepared and have a sales and budget plan in place before listing their property. Despite this, homeowners looking to sell their properties should not feel under pressure to significantly drop their prices, but rather settle on a figure that meets the market.

Although the Sunshine Coast witnessed a significant fall in the number of sales transacted during 2008, the Coast remains one of the most desirable locations to invest in. The drop in sales volume has not impacted the region’s median prices with continuous growth in many areas being achieved.

The population does not see the plateauing sales figures as a reason to lower sale prices as a there is a genuine expectation for continued high returns on property.

With projections of the local population growth sustaining a growth rate of 2.39 per cent until 2026, available dwellings and suitable infrastructure available to service growth areas is going to be of utmost importance.

Issues surrounding supply and demand for many areas on the Coast will help to keep prices steady and drive demand. Acreage blocks which offer a semi-rural lifestyle that are still relatively close to the coastal of hubs of Mooloolaba and Maroochydore, such as in Didillibah, will continue to be in demand as buyers chase limited stock.

In addition, the fact that there is little chance of new vacant lots becoming available in many of the Sunshine Coast’s waterfront areas means these suburbs will see continued capital growth over the long term due to the exclusive top end characterisation the area conveys to potential investors.