End-of-Year Property Market Snap Shot: Buderim, Sunshine Coast
As we approach the end of the year, it is essential to reflect on the property market dynamics in Buderim, a picturesque suburb that offers some of the best lifestyle living on the Sunshine Coast. As a property agent & auctioneer, understanding the local market trends is crucial for making informed decisions and assisting clients in navigating the real estate landscape. This end of year snap shot aims to provide an approx. overview of the property market in Buderim, encompassing key figures and insights.
Market Statistics:
Houses Sold:
In the past year, Buderim has seen a robust real estate market with over 650 properties sold. This indicates a dynamic and active property market, showcasing a healthy level of demand.
Median Value:
The median house value in Buderim now stands at over $1.05 million with units a close to $600K. These figures underscore the suburb's desirability and reflects the quality of properties available in this region.
Average Days on Market (DOM):
Buderim boasts a quick turnover in property sales, with average days on the market sitting a little over 30. This swift pace suggests a strong demand for properties, providing sellers with favourable conditions.
Average Ownership Period:
The average ownership period in Buderim is approx. 10 years. This number reveals a stability in the local community, with residents choosing to establish long-term roots in this sought-after suburb.
Median Rent per Week:
For those considering investment opportunities, the median rent per week in Buderim is approx. $780 for houses and approx. $570 for units. These figures showcase the suburb's potential for property investors looking to generate rental income.
Analysis and Insights:
Buderim's property market demonstrates resilience and attractiveness, with a combination of rapid sales, high property values, and a stable community. The short average days on market indicate a competitive landscape where buyers are keen to secure their dream homes quickly.
The extended average ownership period suggests a content and satisfied resident base. This factor can be an enticing point for potential buyers, as it reflects positively on the overall living experience in Buderim.
The median rent per week is another indicator of the suburb's appeal, providing property investors with an opportunity to capitalize on a steady rental market. This diversity in the property landscape contributes to the overall strength and sustainability of Buderim's real estate market.
Outlook for 2024:
Buderim stands as a blue-chip suburb in Queensland, and the outlook for 2024 appears promising. The robust market conditions witnessed in the past year, coupled with the suburb's inherent charm and location, position Buderim for further growth.
Investors and homebuyers alike can anticipate continued demand, potentially leading to an appreciation in property values. The suburb's appeal, characterized by its natural beauty, community spirit, and convenient location on the Sunshine Coast, positions it as a sound investment for the future.
Conclusion:
In conclusion, Buderim has proven to be a standout performer in the Sunshine Coast's property market. The figures presented in this snap shot underscore the suburb's desirability and market strength. As we look ahead to 2024, Buderim's status as a blue-chip suburb remains intact, offering a solid foundation for those looking to buy, sell, or invest in Queensland's real estate landscape.
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