Every year the RTA (Residential Tenancies Authority) releases data on the average rental prices across the country. These prices are based on the bonds lodged with the Agency each quarter. Here are the figures for the Sunshine Coast, based on data lodged in the September quarter of 09’, broken down by larger area and property size. To view the whole report on the Sunshine Coast Regional Council Area, with data for individual suburbs, please click here.
1 Bedroom Apartments
1 bedroom apartments saw a $10 average rise across the Sunshine Coast with the top performing areas including the Caloundra inland region and the Maroochy Coastal Region. The Noosa Coastal Region saw a rather steep fall of $15 this quarter.
- Sunshine Coast Council Area – $240 p/w (up from $230 p/w in the September 08’ Quarter)
- Caloundra Coastal Region – $280 p/w (down from $283 p/w in the September 08’ Quarter)
- Caloundra Inland region – $220 p/w (up from $180 p/w in the September 08’ Quarter)
- Maroochy Coastal Region – $230 p/w (up from $220 p/w in the September 08’ Quarter)
- Noosa Coastal Region – $255 p/w (down from $270 p/w in the September 08’ Quarter)
2 Bedroom Apartments
2 bedroom apartments saw a $5 average rise across the Sunshine Coast. Maroochy and Noosa Coastal regions saw a rise of $5 each and the Caloundra Inland region was the top performer with a $15 rise. The only region that saw a decline here was the Caloundra Coastal Region with a $15 drop.
- Sunshine Coast Council Area – $290 p/w (up from $285 p/w in the September 08’ Quarter)
- Caloundra Coastal Region – $285 p/w (down from $290 p/w in the September 08’ Quarter)
- Caloundra Inland Region - $265 p/w (up from $250 p/w in the September 08’ Quarter)
- Maroochy Coastal Region – $285 p/w (up from $280 p/w in the September 08’ Quarter)
- Noosa Coastal Region – $300 p/w (up from $295 p/w in the September 08’ Quarter)
3 Bedroom Apartments
The Sunshine Coast saw median prices for 3 bedroom prices stay level with the September 08’ figures. The Noosa Coastal Region did well here seeing a $30 rise in price.
- Sunshine Coast Council Area – $350 p/w (same as the September 08’ Quarter)
- Caloundra Coast Region – $370 p/w (same as the September 08’ Quarter)
- Caloundra Inland Region – $285 p/w (up from $280 p/w in the September 08’ Quarter)
- Maroochy Coastal Region – $340 p/w (down from $350 p/w in the September 08’ Quarter)
- Noosa Coastal Region – $390 p/w (up from $360 p/w in the September 08’ Quarter)
2 Bedroom Houses
2 bedroom houses gained value in the Caloundra Inland, Maroochy Coastal and Noosa Coastal regions facilitating an overall $10 average price rise across the Sunshine Coast. Only the Caloundra Coastal Region moved downwards to the tune of $5 p/w.
- Sunshine Coast Council Area – $300 p/w (up from $290 p/w in the September 08’ Quarter)
- Caloundra Coastal Region – $295 p/w (down from $300 p/w in the September 08’ Quarter)
- Caloundra Inland Region – $280 p/w (up from $275 p/w in the September 08’ Quarter)
- Maroochy Coastal Region – $300 p/w (up from $295 p/w in the September 08’ Quarter)
- Maroochy Inland Region – $300 p/w (same as the September 08’ Quarter)
- Noosa Coastal Region – $300 p/w (up from $275 p/w in the September 08’ Quarter)
- Noosa Inland Region – $280 p/w (same as the September 08’ Quarter)
3 Bedroom Houses
3 Bedroom house average rental prices stayed the same on the Sunshine Coast this Quarter. The big winner was the Noosa Coastal region with a $20 upward move, whereas the Caloundra Coastal Region saw a $10 drop in average rental prices.
- Sunshine Coast Council Area – $350 p/w (same as the September 08’ Quarter)
- Caloundra Coastal Region – $350 p/w (down from $360 p/w in the September 08’ Quarter)
- Caloundra Inland Region – $320 p/w (same as the September 08’ Quarter)
- Maroochy Coastal Region – $350 p/w (same as the September 08’ Quarter)
- Maroochy Inland Region – $350 p/w (same as the September 08’ Quarter)
- Noosa Coastal Region – $380 p/w (up from $360 p/w in the September 08’ Quarter)
- Noosa Inland Region – $330 p/w (up from $320 p/w in the September 08’ Quarter)
4 Bedroom Houses
4 Bedroom houses saw more drops than gains this quarter with the average price dropping by $10 across the Sunshine Coast. The Caloundra Inland, Maroochy Coastal and Noosa Coastal Regions managed to stay level with last quarter, but all other regions saw red. The biggest drop in average price was $30 in the Caloundra Coastal Region.
- Sunshine Coast Council Area – $410 p/w (down from $420 p/w in the September 08’ Quarter)
- Caloundra Coastal Region – $400 p/w (down from $430 p/w in the September 08’ Quarter)
- Caloundra Inland Region – $380 p/w (same as the September 08’ Quarter)
- Maroochy Coastal Region – $420 p/w (same as the September 08’ Quarter)
- Maroochy Inland Region – $440 p/w (down from $450 p/w in the September 08’ Quarter)
- Noosa Coastal Region – $440 p/w (same as the September 08’ Quarter)
- Noosa Inland Region – $360 p/w (down from $370 p/w in the September 08’ Quarter)
Overall the Sunshine Coast is still a great place to invest. Whilst the Australian National Average fell 3.5% from the September last year, average rental prices on the Sunshine Coast have gained 0.77% on last year, despite all the doom and gloom portrayed in the media. Being out of the major cities, the Coast hasn’t been as affected by the Global Financial Crisis as some other areas. On the whole it seems like coastal properties have lost some ground while inland properties gained because of tenants cutting costs by moving away from the more expensive coastal areas, raising the vacancy rates in these areas and forcing prices down. This in turn lowers the vacancy rate in the inland regions forcing rents up slightly.
Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on (07) 5452 4545
www.rentaladvice.com.au
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