Growth in Maroochydore to benefit property investors
When investing in a Queensland rental property, two key features a location should have include infrastructure development and population growth. These are generally two areas that can affect any capital growth and rental income that an investment property may possess.
Looking towards areas that possess a high level of investment from businesses can be another feature to keep in mind, as the more employment opportunities a location may have, the larger the number of people who move to that area for work. This can then affect weekly median rents, home values and rental yields – all key areas of concern for any investment property owner.
Maroochydore CBD to grow through development
Ongoing development in the region of Maroochydore has created strong conditions for property investors. The area has seen a significant level of investment and construction following the Queensland government's announcement to turn the city centre into a priority development area mid last year.
This decision was made with an aim to drive economic development in the city of Maroochydore while also creating a new business district for the Sunshine Coast region.
As a result of the announcement, the Maroochydore CBD has seen significant growth in high- and medium-density development, commercial real estate and retail floor space – all coming together to create a vibrant and bustling city hub.
Apart from the rise in construction of real estate in the CBD, the government's plan outlines it will improve additional infrastructure such as roadways, community facilities and open spaces for the public to turn the area into a more attractive place to live and invest. This will not just affect the liveabilty of the area, but supply ongoing jobs in construction and other industry areas, too.
Investment property in Maroochydore
Sunshine Cove, a major residential development just outside of the Maroochydore CBD, covers 11 district precincts and will create a number of housing opportunities for investors of all kinds of real estate. Connecting with the Maroochydore CBD, residents of the Sunshine Cove area have access to many crucial amenities and employment hubs. Units, townhouses, apartments and house and land packages can all be found within the large precinct to suit any investor's property portfolio.
Recent information from RP Data pinpointed childless couples as one of the major demographics in the area, while 45 per cent of all households rent their accommodation. What this means for investors is that properties such as townhouses or units could be a very lucrative investment option due to the lifestyle associated with these kinds of dwellings.
At the same time, house and land packages could also be a profitable option due to the strong and steady capital gains for detached homes in the region.
Regardless of property type, the city of Maroochydore is expected to see ongoing development for some time, leading to positive results for property investment owners.