Properties Investors

The sea change phenomenon has arguably been the most talked about Australian property trend of the past decade. In the summer edition of Queensland Property & Lifestyle, the sea change affect is examined to ascertain whether the hype is warranted and, more importantly, if it is here to stay.

Real Estate Institute of Queensland (REIQ) figures show that since September 2002 coastal Queensland towns have experienced strong growth rates. Traditional South East Queensland hotspots, the Gold and Sunshine coasts, have seen median prices rise by 85.6 and 97 per cent respectively. Yet it is the mid to northern parts of the Sunshine State’s coastline where the most exceptional results are to be found. Queensland Property & Lifestyle editor Lauren Cameron says seaside towns within an easy commute of major centres have experienced remarkable jumps in median house prices over the past five years. Cairns (up 121.5 per cent) Townsville (up 153.6 per cent), Rockhampton (up 180 per cent), Mackay (up 175 per cent) and Bundaberg (up 163 per cent) are some examples.

“However, the increasing population and median house price growth in seaside locations such as Townsville, Bundaberg and Mackay can also be attributed to the resources boom. More and more people are choosing to buy a house on the coast and spend their days off there, rather than staying in the mining towns,” Ms Cameron says. “In other words, now that the initial passion for and headlong pursuit of the seaside has settled down, Australians are seeking a more sophisticated sea change – one that combines the sun and the sea with viable career opportunities, comprehensive services and perhaps even a decaf macchiato on the side.”

Meanwhile, even the sleepier seaside towns have shrugged off their “backwater” branding with a range of cosmopolitan developments and remarkable property price increases. Bowen, at the tip of the Whitsundays, has had a median price rise of 267 per cent over the past five years. Cooee Bay in the Livingstone LGA and River Heads in Hervey Bay have also seen very strong growth, recording a 239 and 206 per cent increase in median sale price respectively.

To learn more about the sea change phenomenon pick up a copy of the summer edition - available in newsagents nationwide in late December - of Queensland Property & Lifestyle. Other features include Brisbane’s Trade Coast, the rise and rise of Hervey Bay, and renovation tips when preparing your property for sale.

Queensland Property & Lifestyle is the only place to access the latest REIQ Queensland median house, unit and townhouse, and land data, suburb by suburb, and is available in newsagents or online at:  http://www.propertylifestyle.com.au