Are you investing in property on the Sunshine Coast?
Updated: Aug 19
I live in one of the most beautiful places in Australia and like most people who move here for the sea change, the chance of them relocating again to live somewhere else is pretty close to ‘Nuh uh, never gonna happen!’. That’s right, I live on the Sunshine Coast of Queensland. With pristine beaches, great surf, national parks, public parks, lakes, canals, waterfalls, massive shopping precincts, public transport, a growing and stable economy, and pretty much everything you could possibly want to live a comfortable lifestyle, why would you move?
According to the REIQ (Real Estate Institute of Queensland) property guide of June 2020, Noosa is becoming Queensland’s most expensive area to buy into. The reason for this? People are moving to the Sunshine Coast in droves, which in turn is propelling the property market forward and opening up opportunities for savvy property investors.
Who is REIQ and what makes their statement credible?
Well, REIQ is Queensland’s peak professional association for real estate practitioners and they have been around since 1918. Every quarter, REIQ releases a property guide for Queensland. This should be in the savvy investor’s backpack as they set out on their quest to invest in Queensland property.
If you love statistics and graphs, you will be pleasantly surprised. You will find up to date median sale prices, house and unit market trend indicators and other comparison data for all the major cities of Australia.
Below is an example of a visual representation relating to the feature article of the Sunshine Coast property market from the June 2020 REIQ Queensland Market Monitor (QMM).
A downloadable PDF version of this guide can be found on the REIQ website at https://www.reiq.com/wp-content/uploads/2020/06/REIQ-Sunshine-Coast-Jun20-QMM.pdf
As a property investor or someone hoping to move to the Sunshine Coast of Queensland, you should have already done some form of research. You have probably looked at a few property sites like realestate.com.au and domain.com.au and found some properties that took your fancy. This may give you a fairly good indication of what you could be buying into, but remember, the photos are taken from certain perspectives for a reason. And the reason for this is to show off the best parts of the property.
These photos do not show you the neighbour’s home two doors down that has a rusting car sitting on bricks in the front yard with rubbish strewn all over the lawn, or the house on the corner with people coming and going throughout the day for no apparent reason. They do not show you the crime statistics for the area, the schools or even the damage and graffiti on the bus stop somewhere along the route to your children's future school. These are just some of the reasons why AOSG provides property investor due diligence services to local, national and international property buyers interested in buying property on the Sunshine Coast of Queensland.
If you are engaging an investigation company to conduct property due diligence, you should expect them to provide a comprehensive report that isn’t just about the property, it should also contain information about the surrounding area. For example, if you were to engage AOSG to conduct due diligence on your next property purchase on the Sunshine Coast, your report will include imagery of the inside and outside of the property as well as the surrounding dwellings and details about any suspicious activity occurring in the street. Our reports include but are not limited to crime statistics for the area, adverse and positive media articles, loud traffic or construction noise that can be heard from outside the house as well as details of transport, schools and local amenities.
At AOSG, we save our client’s a lot of wasted time, energy and money by vetting the properties and presenting them with a comprehensive report of our findings.
If you only take one thing away from this article, make sure it is the term due diligence.
The definition of due diligence on the investopedia.com website states: "Due diligence is an investigation, audit, or review performed to confirm the facts of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party"
Always do your due diligence before committing your hard-earned money into any investment. And if you have any doubts or questions, why not get in touch with us at AOSG. We would be happy to provide you with advice where we can and its free.
For more information about AOSG including how to contact us, please visit our website at www.aosg.com.au
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