As we begin the final quarter of the year, demand for Sunshine Coast property continues to grow and, as a result, prices continue to rise. Whilst sellers are enjoying this market, the question everyone is asking is “how long is this property boom going to last?”
According to Simon Pressley, Head of Research from Propertyology, it’s highly likely we will continue to see this growth at least well into 2022. Anecdotally, we are still experiencing a high absorption rate and observing trends that also support this, with new Spring listings continuing to sell in a short time on market. We are still adding 200 buyers to our database every month, which has been consistent all year. It will be interesting to monitor if APRA’s recent request for banks to increase their serviceability buffers will slow any types of the record number of buyers coming to our area.
Although the volume of rental property applicants has slightly softened the rental supply remains tight. We encourage tenants seeking rentals to have all their application details ready for submission and any investors with a property suitable for the rental market to contact us.
And finalists for the Real Estate Institute of Queensland (REIQ) Awards for Excellence have been announced with some of our local agencies being recognised among the best in the state. At Wythes we are proud to be leading the industry, having won the 2019 REIQ Innovation Award and 2020 Contribution to Community Award. In 2021 we are finalists again for the Contribution to Community Award and Alisa Wythes and Caroline Johnston are both individual finalists for their respective categories, Residential Salesperson of the Year and Residential Rising Star of the Year.
Congratulations to all agencies and agents who have been named as finalists. This is a huge achievement in itself and testament to all you are doing to raise the bar in our industry. We look forward to representing the Noosa Hinterland at an awards gala later this month with the best in our industry attending to see winners announced.