What is fuelling the hot Capricorn Coast property market?

What is fuelling the hot Capricorn Coast Property Market? The answer really is quite simple, basic supply and demand.

With an expected population in Livingstone of 62 226 by 2031, and a reported population of 39 881 in 2021, the projected growth rate is 22 345 additional residents on the Capricorn Coast over a 10 year period, that is 2 234 new residents per year.  There is currently an average of 2.45 people per dwelling, meaning, approximately 912 homes need to be built per year to keep up with the expected population growth.  The last housing approval numbers available between July 2022 and January 2023 showed only 137 dwellings were approved for Livingstone, demonstrating a growing housing shortage.  The current numbers are not enough to keep up with the growth of our seaside community. Simple math shows there is no end in sight to the current housing shortage.

The Capricorn Coast has also seen the number of investment properties continue to shrink, as many landlords are choosing to move tenants out and move in themselves, or sell their investments to make the most of the strong market conditions.  Troy Gesler who leads the @ Real Estate Property Management Department said “This month alone we have had 4 owners give notice that they will be moving into their investment property.  Many of my colleagues from other local agencies are reporting a similar situation.” Natalie the Principle of @ Real Estate confirmed “The pool of rental properties on the Capricorn Coast continues to shrink, with approximately 28% of all homes sold by @ Real Estate over the last 12 months being rental properties.” 

The Capricorn Coast population explosion has been fuelled by a number of things, obviously the natural population growth and of course who wouldn’t want to live on the beautiful Capricorn Coast. There is also a huge amount of employment opportunities with all of the major projects in motion for the region. Some examples of these major projects include Shoal Water Bay Upgrade, Bruce Highway Upgrades, Rookwood Weir, Clark Creek Wind and Solar Farm, Surf Lakes, Keppel Bay Sailing Club just to name a few.  These projects are causing more people to move to the area, this combined with the natural population growth is creating a more diverse economy on the Capricorn Coast.  

Combined with a growing economy, low stock levels and a lack of building activity, there is also a shortage of builders and other trades in the area, and high building costs. Many people who are looking to build, are waiting in excess of 12 months until construction is completed. High buyer demand and price growth is set to continue on the Capricorn Coast.