Blog

By Billy Mitchell, Principal, Century 21 Platinum Agents

I don't know about you, but I'm not sure if I've ever seen so many number plates from other states on vehicles around our region as I have over recent months.

Well, maybe during the holiday periods, but usually those number plates belong to four-wheel drives that also happen to be towing caravans.

But now – from Chatsworth to Caloundra – every other car seems to be from Victoria or New South Wales.

And before you even think it, I'm not saying these people have illegally jumped across the border.

I'm saying that they got here long before the current lockdowns down south and have already started their new lives north of our capital city – with official data is starting to back up this phenomena, too.

Great migration north

According to the Australian Bureau of Statistics (ABS), about 28,500 people moved to Queensland from interstate in the three months to March.

That's nearly 2,400 people every single week!

Sure, some people are still leaving the Sunshine State at the same time, but there is no question that the great migration north is well under way.

On top of that, record numbers of people are moving away from capital cities to regional areas as well.

The ABS regional internal migration estimates for the March quarter found that there was a net loss of nearly 12,000 people from capital cities around the country.

This was the largest on record since the series started in 2001, surpassing the previous record set in the September 2020 quarter (-11,200), which was mid-pandemic last year.

We don't know exactly where all these people are moving to, but it's a fair guess that many of them are winding up in regional parts of Queensland, including Gympie and the Sunshine Coast.

Just think of all those number plates on our streets!

What does it mean for local markets?

Not only are these interstate migrants putting pressure on markets by soaking up additional supply, most of these people also have money in their pockets to spend as well.

Just consider that the Sydney median house price is about double what is on the Sunshine Coast and is more than three times the median house price in Gympie, and you will soon understand what I'm talking about.

Many of these new residents are arriving in our region with a desire to start a new life, but also with the means to make it happen because of their superior buying power.

This is making it difficult for some local buyers to secure a property or investment, but it is a huge boon for sellers.

The influx of “new money” into our region has resulted in asking prices skyrocketing over the past year.

In fact, according to SQM Research, the asking price for houses in Gympie has soared by nearly 24 per cent over the past year.

And, on the Sunshine Coast, the asking price for houses – and units – has ramped up by an impressive 14 per cent over the same period.

We are securing record prices for listings every week for vendors, who are keen to make the most of the super-strong market conditions – as well as all of the new blood coming to town.

By Billy Mitchell, Principal, Century 21 Platinum Agents

Just down the road from where I sit right now lies a picturesque part of the world that offers the rare combination of beauty, convenience, lifestyle, and affordability.

It's the kind of place where you can raise a family, escape from the big smoke on weekends, or enjoy your golden years. It's a spot that feels a million miles away from it all, but it a stone's throw from major regional centres and just a few hours from a capital city.

In my view, Tin Can Bay is a special spot with a lot on offer – and it's not just me who thinks so.

A hot spot for all

The level of interest in Tin Can Bay has exploded in recent times, driven by a number of buyer types.

First, you've got the city slickers looking for a more relaxed way of life after enduring coronavirus for the better part of 18 months, looking to regions like ours that have been virtually untouched by the pandemic.

Secondly, there's been an uptick in those from further afield looking for a weekender that has the recreation and relaxation qualities of better-known holiday destinations in our region, without the tourist congestion and enormous price tags.

And last, but certainly not least, I'm hearing a lot from locals drawn by Tin Can Bay's slower pace of life.

They all want a place to call home that's tranquil but well-located near the services and amenities they want and need, from shopping to entertainment to lifestyle amenities, plus they want somewhere not too far from the big smoke for when they venture back.

But most of all, they want somewhere visually stunning with an unparalleled natural beauty. No wonder Tin Can Bay is in such high demand.

The fast facts

The median house price in Tin Can Bay is an attractive $405,000 and for units it's $325,000, with data showing the beginning of an upward trend in values this year.

In January, the median for houses was $333,000 and for units it was $315,000, so there's been quite a lot of upward pressure on prices thanks to demand far outstripping supply. It reflects what I've seen – strong buyer enquiry for this unique area.

Demographics here skew towards owner-occupiers, although there's a healthy rental market for investors comprising mostly families and older couples.

Locals will find much of what they need here, from supermarkets to specialty stores, dining, and entertainment.

Those who love being outdoors are spoilt for choice, with an array of recreational activities on offer, from boating and adventure sports to hiking.

But there's also an impressive 18-hole golf course as well as tennis courts and bowling greens.

The regional city of Gympie is only about 30 minutes down the road, so any services not available in Tin Can Bay are easily accessible, and Brisbane is about 220 kilometres to the south.

A home for everyone

The mix of housing in Tin Can Bay is healthy, with a range of different dwelling types to suit most budgets.

You've got older style shacks that have good bones but could use a bit of elbow grease to realise their full potential. You've got more modern brick family homes that offer plenty of room to grow, both inside and out. And you've got higher-end architectural-style marvels that come with all the mod cons a higher price tag ensures.

Block sizes here are quite generous so you never feel like you're cramped or closed in. Just the type of vibe you want in an area that's so beautiful.

Tin Can Bay is predominantly detached housing, although there are attached properties – duplexes, villas, and small unit blocks, mostly. They offer a budget option for those that want all the area offers but have a smaller budget to play with.

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By Billy Mitchell, Principal, Century 21 Platinum Agents

This year's spring selling season it set to be one like no other in the Gympie region in my opinion.

Traditionally kicking off at the start of September, we are experiencing record levels of buyer demand for the smaller than usual volume of properties currently available for sale in our region.

Now, if we think back to the same time last year, we may have been released from lockdown, but there remained some nervousness amongst sellers and buyers for a period of time.

However, all of that changed in the space of a few months, with buyer demand starting to strengthen as we moved closer to the end of a year that we'd all rather forget.

A number of factors have been driving the super-strong market conditions we are experiencing and are set to stay that way for some time to come.

Lifestyle in spades

While interest rates are at historic lows, the affordability of property in our region means that the cost of credit has never been a major factor in our market.

But that's not to say that low rates aren't welcomed every day of the week by mortgage holders!

However, it is demand from local buyers that is helping our market achieve such strong sale prices at present.

In fact, we are seeing elevated interest from buyers who normally reside within a few hundred kilometres south of our region.

They are showing keen interest in the Gympie and Cooloola Coast region because of the impressive lifestyle attributes we have to offer, but also because of the more affordable buy-in prices of property here.

Many of these people are actively seeking locations where they can get more bang for their property buck, while also staying within a reasonable commute of the Sunshine Coast and even Brisbane.

Other buyers are former tenants who have run the numbers to determine that they are financially better off purchasing a property here, than continuing to rent one in locations where rent prices have soared in a short period of time.

Strong sale prices

Local vendors are regularly securing strong sale prices far above their price expectations of late.

In fact, according to SQM Research, the asking price of houses in Gympie is a staggering 22 per cent higher than it was just a year ago!

This means that local sellers are able to capitalize on their properties to upgrade here or elsewhere, while investors are making the most of the strong buyer demand if they are in the selling down phase of their investment journeys.

Our region has such a diverse array of properties that it really does tick all the boxes for buyers looking to purchase almost any type of dwelling at all.

Just think of our many Queenslander homes, new executive-type houses, lifestyle and acreage properties, as well as income-producing rural farms for both agriculture and horticulture purposes that are attractive to both homeowners and investors?

These are some of the reasons why homeowners who are considering a move would be wise to make the most of the current extraordinary market conditions – that are likely to see them secure an excellent sale price and enable them to be settled into their new home before the year's end.