- Listings hit a decade-low last November
- Since then, listings have gone down a further 22%
- Rental vacancy rate currently 0.6%
While there has been a slight uptick in the number of properties listed nationally, the Sunshine Coast’s property listings remain at a critically low level.
SQM Research data shows that the total number of properties listed on the Sunshine Coast hit a decade-low last November, however, since then, this has decreased even further.
While November 2021 saw 7,741 property listings, April 2021 saw just 5978 listings – a 22% decrease.
The SQM data shows listings are significantly lower than at any other time during the past decade, and that they have fallen by about 30% over the past year alone.
Sunshine Coast, Listings on the Market, since 2010
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
Paul Blackledge, a sales agent at Image Property Sunshine Coast, said the situation was a paradox.
“It might sound a bit strange, but even with booming market conditions being attractive to vendors, their inability to buy something else to live in is stopping them from listing their own properties,” Mr Blackledge said.
“It’s almost like a self-fulfilling prophecy – people aren’t selling because there aren’t enough available properties on the market for them to buy themselves. There is a stalemate of sorts under way at present.”
Paul Blackledge, Image Property
Fueling the fire is the fact that the region has one of the lowest rental vacancy rates in the country- in fact, it plummeted from 2.4% in April last year to just 0.4% in November, where it has recovered slightly since. This November figure was lower than the 0.5% recorded back in January 2005.
Sunshine Coast, Rental Vacancy Rate, since 2010
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
“It’s always been common for sellers to rent for a while if they haven’t been able to find a new home to buy, but that option is often no longer on the table,” he said.
Mr Blackledge added that demand remains strong including from buyers in other areas of Queensland and interstate.
“Interstate buyers are active in the market, but some are becoming frustrated because they haven’t been able to buy anything and they’re flying back and forth on the weekends only to miss out every time,”
“There is the opportunity for vendors to achieve strong sales results at present as well as have the time they need to find their next home at the same time by negotiation with buyers.”
