Midyear state of affairs: A closer look at the country’s markets
With market conditions changing at varying degrees across the country, seven experts from Property Investment Profession...
‘Heat maps’ showing the latest building activity could provide insights into up-and-coming boom suburbs – with three suburbs in particular feeling the burn.
Development and investment activity on theCoast shows no signs of slowing down, according to the council’s annual building approvals heat map.
Based on the number of building application approvals issued over the past four years, the map identifies where the highest levels of development activity and suburb growth are occurring.
Planning portfolio councillor Christian Dickson said the updated heat maps show building approvals are at the highest level they have been for seven years — and are a great gauge of ‘hotspots’ of activity.
“The map identifies continued high levels of concentrated development approvals within the Sunshine Coast Enterprise Corridor, which stretches from Sunshine Coast Airport to Caloundra South (Aura).
“For the second consecutive year Maroochydore, Mooloolaba and Kawana have been shown as dark red on the map – highlighting the high volumes of building approvals recorded in these areas,” Mr Dickson said.
The Sunshine Coast continues to deliver record-strong population growth, according to Mr Dickson, who noted there had been significant development recorded from Caloundra in the south through to Peregian Springs in the north, and out into the hinterland towns.
“In 12 months the Caloundra area received 380 building approvals to the value of $91,198,044, whilst Peregian Springs … received 361 building approvals to the value of $100,667,833,” he said.
“Significant development activity is evident across the entire Sunshine Coast region ... the hotspot map identified five areas that have recorded the highest value of building activity with over half a billion worth of building approvals in the last year – contributing to over $1 billion of building activity on the Sunshine Coast.
“This is a considerable increase, which is a substantial boost for the region and our economy.”
The ensuing growth in development, infrastructure and population was all good news for the region, he said.
“Steady and sustainable growth in development across the region has positive flow-on effects that contribute to increased economic activity across the region, including employment generation, business confidence and consumer spending.”
An investment is an asset or item purchased with the expectation that it will generate income or appreciate in value in the future.
A population is a group of individuals who are inhabitants of a particular location, region or country.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.