Property experts tip Nambour for value

REIQ CEO Antonia Mercorella says Nambour represents a great opportunity for potential buyers.

Real estate analysts are pinpointing Nambour as one of the top suburbs for affordable property on the Sunshine Coast. 

As Sunshine Coast property prices continue to rise with demand from local and southern buyers and returning expats, they say Nambour stands out as a great opportunity for value-seekers.

Restrictions in capital cities and the ability to work remotely were forces behind the regional property rush. People are looking for a regional lifestyle within a ‘commutable distance’ to Brisbane to maintain access to the employment opportunities and amenity of the capitals.

Real Estate Institute of Queensland CEO Antonia Mercorella said Nambour represented an outstanding opportunity for potential buyers.

“With a median house price of $417,050, Nambour presents a fantastic opportunity for buyers looking for an affordable property, particularly for first home buyers as well as for young families.

“And with healthy annual growth of around 3.5 percent (almost 20 percent over five years) for houses, it offers good long-term prospects for both owner-occupiers and investors alike. 

“However, while plenty of other locations around the State have had sluggish unit markets over recent years, that’s certainly not the case for Namour, with units boasting annual growth of 7 percent off the back of almost 23 percent over 5 years.

“So, those looking to enter the property market in this region may wish to move quick as current prices certainly won’t last long when you consider the level of market demand being experienced across Queensland at the moment.”

Hotspotting founder Terry Ryder of Maleny also said Nambour was a good place to consider for both home-buyers and investors.

“It’s very under-rated because I think many people don’t appreciate what Nambour has to offer, apart from its affordability.

“It has great infrastructure, benefits from being on the train line, has major medical facilities ­— and I think downtown Nambour will be energised by the proposed university campus.”

Mr Ryder said the median house price had risen 5% to $430,000 in the past 12 months.

“And I think there is more growth to come,” he said. “Rental vacancies are close to zero and rental returns are above 5%, so it’s a good place for investors to consider.”

Div 10 Cr David Law said Nambour had always been the most affordable town on the Sunshine Coast. 

“When I came to the Sunshine Coast 20 years ago with my family it was the same then,” he said. 

“But it is not just affordability. Nambour continues to be a wonderful place for a young family. It is a town that has a huge heart and strong community just as it did 20 years ago. 

“We have great schools, from prep to grade 12 and some amazing child care centres and Kindies.”

Regional Qld property prices rise

Meanwhile, Palmwoods, Eumundi, Maleny and Yandina made a list of top performers in the latest REA Market Trends report. 

The report showed all Queensland regions, except for Cairns, recorded house price growth in the past 12 months, a remarkable result in the year of a pandemic.

The top regions were Outback Queensland (+25.4%), the Sunshine Coast (+7.9%), Central Queensland (+6.6%), the Gold Coast and Darling Downs-Maranoa (+6.1%).

REA’s rising markets:

SUNSHINE COAST: Alexandra Headland, Palmwoods, Beerwah, Warana, Caloundra, Caloundra West, Mooloolaba, Eumundi, Maleny, Marcoola, Maroochydore, Mount Coolum, Wurtulla, Yandina