Noosa & Sunshine Coast Rentals: The opportunity, challenges and more.

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The rental market remains a hot topic as we head into mid-year 2024. With vacancy rates relatively low around the 3% mark, South-East Queensland rentals are experiencing signs of undersupply. With Brisbane tipped for continuing growth and recently named Australia’s second most expensive city, neighbouring regions are also having to adjust, accommodate. At Countryside Realty Noosa, we have our finger on the pulse and know our slice of South East Queensland well. If you’re looking to rent or list you property in the Noosa Hinterland area or beyond, this article is for you.

With the property market across our region of Noosa Hinterland and the broader Sunshine Coast, 2024 presents unique opportunities and challenges for buyers, sellers, investors, and tenants. 

Noosa and surrounds stand out as one of the most popular places to live in Australia. Holidayers and residents alike are aware of how stunning the region is. The region offers a vibrant lifestyle, with beaches, rolling green hills, dining, and shopping all within easy reach. With alluring lifestyle factors like that it’s no wonder that the rentals are in demand. 

Lara Brody, senior property manager at Countryside Noosa, has reported that the demand for rentals is high across the Noosa Hinterland.

“The demand for rentals is still very high especially for more affordable rentals under $800 per week. Rentals above this are still leasing just take a little longer especially if it is a unique property i.e acreage suitable for horses.”

The Current Rental Snapshot

EXPLORE Sunshine Coast Vacancy Data – HERE

The Sunshine Coast’s property market has soared to unprecedented heights, with median house values reaching $1.04 million in February, marking a staggering 72% increase since the onset of the pandemic in March 2020. The rapid rise is attributed to factors such as strong buyer demand, population growth, tight rental markets, and limited supply. 

As of Mar 2024 Sunshine Coast rental vacancy sits at 1% with a low of .8% in January.  The growth is fuelled by the region’s sustained annual population growth of 2.4% over the past decade and an increase of 1.9% in the past year alone, reaching a population of 403,521.

All this points to the opportunity that now is the time to invest or become a lessor and Countryside Noosa Realty can help.

Meet our Senior Property Manager Lara Brody

With over 15 years of experience in banking, specialising in Business Finance and Home Lending, Lara brings a dynamic perspective to property management. Her journey led her from the banking sector to the vibrant realm of Real Estate.

A local for over 8 years, Lara made a life-changing move to Pomona in the Noosa Hinterland in 2016, drawn to its charm and character. At Countryside Realty Noosa, Lara leads the way of our Property Management, with her client-centric approach. 

The rental market in Noosa, the Sunshine Coast, and Southeast Queensland remains a focal point in mid-2024, with low vacancy rates indicating signs of undersupply.  Savvy investors will see the opportunity presented and seek to benefit from the current market. If you’re looking to discuss your opportunities and see if becoming a lessor is the right choice, be sure to contact Lara at Countryside Noosa Realty.

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