The push and pull of property
IT'S a matter of attraction ... and economy of scale.
Now that the Sunshine Coast has reached a population of 350,000 things go to another level and significant infrastructure projects follow.
Yet property analyst Michael Matusik said that while a region takes on added momentum it needs to retain a reason for attraction.
Mr Matusik, who will be speaking at Maroochydore on Saturday, said the Sunshine Coast has a lot going for it but warned the region needed to be better than Sydney and Melbourne.
At a time when the region offers lower median house prices than the southern capitals, he said the property market was in danger of people being pushed out of Sydney rather than attracted to Queensland.
"In life you rather be pulled to something than pushed,'' he said.
"It's about 'the' and 'a'... it's better to be looking for the place to live rather than a place to live.''
Mr Matusik, who will be speaking at the pre-construction launch of Reed Property Group's Locale townhouses on Saturday, said that the population was now at a size where a region needed things.
That has been reflected on the Sunshine Coast in the new hospital and the airport expansion as well as a true CBD.
"People will move if they have a job, and a trajectory of wage growth,'' he said.
"As a kid we would drive from Sydney to Noosa.
"Today, those people are going to Sydney, Melbourne.''
Yet Mr Matusik said the Sunshine Coast was getting some energy now.
It's changed from a retirement/beach community to more of a city.
The business economy, the architecture, the look of the place.
The pillars of growth used to be agriculture, tourism and construction. Now health, education and well-being have been added.
Latest figures show that employment opportunities in the region are on the increase and unemployment figures are amongst the lowest in the state at 4.8%.
"You can run a professional business/service and you just have to look at the young families at the new suburbs,'' Mr Matusik said.
"They are coming for work. They like it and stay here.
"Why wouldn't you move here?''
The Sunshine Coast property market can expect some increases, Mr Matusik said, yet more important was that as the sales numbers go up the amount of stock declines.
"That means at least in the immediate future there will be some escalation in price.
"That's the way the property cycle works.''