The Sunshine Coast LGA residential land market has shown favourable value uplift during the 2016 calendar year.
Median values for both vacant land and house & land packages have continued their upward momentum, whilst the median price paid for land reached a new high of $574/sqm. Lot approvals have fallen considerably this year however this was due to a number of large scale developments being approved in 2015.
Lot sales activity has shown some decline during 2016 after two strong sales years, now representing 1,734 vacant land sales. Despite this fall, results remain ahead of the ten year average of 1,479 and have not dampened median land value growth. Median land values have grown 3.0% to $260,500 over the last year; this represents a median land value of $574/sqm (up 5.3%) and representing the highest value on record. Furthermore the average value on a per sqm basis has increased on average 8.7% per annum over the last ten years highlighting the growing interest in this region.