Sydneysiders are moving up to the Sunny Coast

Mosaic Property
17/07/17

As the wave of migration to southeast Queensland’s Sunshine Coast is picking up speed, Sydney couples are beginning to flee from the sky-high prices in Sydney and cash in for the laid-back lifestyle of the Sunshine Coast.

The Australian reported of a Sydney couple’s realisation that their dream of home ownership was “never going to happen” after a small house on their street in Kogarah, 20kms south of the city centre, sold for more than $1 million.

After a holiday on the Sunshine Coast last year, the couple was further persuaded to make the move to the seaside community of Caloundra.

The couple joined more than 20,000 people who also moved to SEQ’s coastal towns including the Sunshine Coast and Gold Coast last year which recorded nation-leading growth outside the major capital cities. The regions are strongly on track to become the fastest growing regions over the next 15 years and produce modest short-term house price rises.

The Demographics Group research director, Simon Kuestenmacher, stated “These are the up-and-coming areas: if you say ‘lifestyle Australia’, that is where you think. Over the next couple of decades, they are pretty likely to merge with Brisbane into a mega-region.”

Macroplan Dimasi chief economist Jason Anderson said that “It’s a combination of lifestyle and affordability for the people who might move, instead of just raw affordability,”

Stockland’s Queensland residential communities general manager, Kingsley Andrew, stated “We are witnessing a positive shift in interstate migration as more and more people in southern states recognise that Queensland offers better value for money when compared with other markets, as well as all the lifestyle benefits,”.

Source: The Australian, Sydney prices push homebuyers north in lifestyle migration, Rosanne Barrett

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