The Sunshine Coast's hot property spot

House prices in Mooloolaba have risen sharply during 2016 as families and sea changers cash in on record low interest rates.

Domain Group data showed the median house price in the popular Sunshine Coast town had risen by 25 per cent over the past six months, a factor local agent Vicki Stewart, from Vicki Stewart Property, put down to interest rates.

“Money is the cheapest we’ve had since World War II and we’re seeing that reflected in sales,” she said.

“It’s cheaper than ever to make that sea change, plus we’re seeing a lot of people buying houses or units as an investment to rent out now and move into themselves in the future.

“We’ve been breaking sales records every month since September last year; these are the best months [for sales] that we’ve had in years.”

Ms Stewart said she was not only selling more properties; she was selling them quickly.

“The days on the market have dropped dramatically. We used to have properties sit on the market for years but lately we’ve been listing and selling some properties within the same day,” she said.

Domain Group senior economist Andrew Wilson said Mooloolaba property prices offered great value for money.

“It’s a value market. It’s very popular with families who prefer Mooloolaba’s relaxed vibe over the exclusivity of Noosa and who don’t want to pay Noosa prices,” Mr Wilson said.

Mooloolaba is located approximately 97 kilometres north of Brisbane and has long been favoured by recreational sailors for its sheltered location, tourists for its stunning beaches and families for its laid-back atmosphere.

Karen Jones, agent at Next Property Group, said the changing face of Mooloolaba had transformed the local property market in recent years, attracting buyers from all over the country.

“Twenty years ago, Mooloolaba was just a fishing village and Noosa was the place to buy property. These days, Mooloolaba is a cosmopolitan destination with an amazing cafe and boutique shopping culture – and that’s got a lot of appeal for everyone, not just tourists,” she said.

“Mooloolaba really gives Noosa a run for its money. It’s got a different soul, a more relaxed vibe that’s more family friendly – and it is much better value when it comes to property.”

Paul Angell, agent at First National Mooloolaba, said while local housing had boomed recently, apartments were the “one to watch”.

“There’s been a real growth in houses and a distinct lack of growth in apartments. They’ve really stood at a standstill for a few years now,” he said.

“Right now they represent amazing value for money; I think we’ll see some significant movement over the next couple of years.”

While Mooloolaba apartments have shown minimal growth over the past six months (3.6 per cent), local Ray White director Brent Higgins said the data did not show a breakdown in the difference between residential unit sales and holiday unit sales.

“We’ve seen very strong growth in residential apartments. Anything in a small complex with a low body corp is absolutely flying,” he said.

“The increase there is offset by very sluggish high rise sales … these properties are typically harder to sell because 100 per cent of them are bought by investors to rent out to holidaymakers – and because investors only make up about 30 per cent of our unit sales, these units are much more difficult to sell.”