THE COAST is beginning to take shape as the prosperous metropolis envisioned by the region’s leaders.
A new report released today by BIS Oxford Economics says property development on the Sunshine Coast had peaked, with supply and demand now balanced.
Combined Chambers Alliance Sunshine Coast president Michael Shadforth said all tiers of government were working on developing the Coast to reach its full potential.
“The Coast we are seeing today is a really good example of visioning in place,” Mr Shadforth said.
“Over the last decade the region has gone through a tough time but our smart, sustainable and healthy region is really starting to show.”
The report, which looks at projections for residential development out to 2022, indicates surging demand for land has been catered for.
“I think the report shows a softening in supply as developers are gearing up to do more in the next 12 to 18 months,” Mr Shadforth said.
“Developers are reading the markets very well. I think we are only just starting to get on the radar of people looking to move their business and families here.”
Senior manager and report author at BIS Oxford Economics, Angie Zigomanis, said although the Coast would see an easing off in property development, the outlook for the market remained positive.
“There will be a slight downturn in development as demand softens but the market will remain healthy.”
Sunshine Coast Mayor Mark Jamieson was not available for comment.
However, a Sunshine Coast Council spokesman said the Coast’s construction boom over the past 12 months was part of the overall plan.
“The Sunshine Coast is one of the fastest-growing regions in Australia,” the spokesman said.
“Through the SEQ Regional Plan, the State Government has guided how council will accommodate our population, which will reach over 500,000 by 2041.
“Our council consistently aims to maintain our lifestyle advantages and the distinctive character of the communities that make up our region.”
Originally Published: www.sunshinecoastdaily.com.au