The thriving real estate market in Mooloolaba has continued its remarkable momentum into 2024, showcasing its resilience and adaptability. The year 2023 witnessed an impressive total of 315 property sales, encompassing a broad spectrum of prices ranging from $150,000 to a substantial $5,900,000. This diverse range highlights the versatility of the Mooloolaba market, appealing to a wide array of potential homeowners and investors.
A noteworthy shift has been seen in the perception of Mooloolaba, transitioning from merely an investment destination to a highly desirable place to live. Despite this transformation, the allure of Mooloolaba as a premier choice for investment remains as strong as ever, even with increasing prices.
Investors continue to flock to Mooloolaba, which is evident in the substantial 26.5% surge in investor borrowing over the span of nine months in the previous year. This surge is particularly noteworthy as it marks the ninth consecutive month of increased investor activity, as reported by the Australian Bureau of Statistics. During the same period, owner-occupier borrowing also experienced a significant upswing, rising by 18.6%.
The property market is further fueled by the consistent growth in rents, with November 2023 marking the 40th consecutive month of rising rental rates, according to CoreLogic. This robust rental market may be a contributing factor to the heightened interest of investors in Mooloolaba, as it presents a lucrative opportunity for rental income.
A sign of the area’s growth and development is the increasing number of development application boards and construction sites scattered throughout Mooloolaba. One notable project, currently called “Sirius Mooloolaba” located at 123 Mooloolaba Esplanade, has garnered attention by successfully securing approval from the council for its plans. This development represents developers’ sustained investment and activity in Mooloolaba.
In conclusion, Mooloolaba’s real estate landscape not only weathered the challenges of the past year but has also emerged as a dynamic and sought-after locale for both residents and investors alike. The amalgamation of a diverse market, escalating investor interest, and ongoing development projects positions Mooloolaba as a vibrant and promising hub within the Australian real estate market.
For the full breakdown of suburb data, we have prepared our latest Suburb Flyover which details all the recent sales, trends and statistics.
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