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Sunshine Coast renters urged to buy as market booms

September 12, 2019 | IN Media Release and News | BY AVID | 3 min read

To rent or to buy is a question many Sunshine Coast locals are asking as the coastal region prepares for an economic upswing with the development of its new $430 million CBD1.

The economic influx continues to attract new investors into the area, with many first home buyers looking to enter into the market now, before the inevitable price hike.

AVID Property Group (AVID) General Manager Queensland Bruce Harper said the cost of renting in some areas of the Sunshine Coast was quite comparable to mortgage repayments on a new home.

“The Sunshine Coast is fast becoming one of the leading economies in the nation and with the recent rate cuts, now is good time for buyers to get into this thriving local market and secure a mortgage,” Mr Harper said.

“We are now seeing lenders lower rates to as little as 2.99% – this means for a $450,000 loan over 30 years, a weekly mortgage repayment could be as low as $475.

“This is making it easier and more affordable to own and purchase a home, like on the Sunshine Coast where rental costs are at an all-time high with the median rent for a three-bedroom home in Palmview being $4502 per week.”

To help buyers get their foot in the door of the Sunshine Coast market, Harmony by AVID Property Group – a $3 billion masterplanned community on the Sunshine Coast – has launched a $5,000* bonus for buyers, the AVID Home Starter Reward.

Mr Harper said the AVID Home Starter Reward could help to cover some of the upfront costs associated with buying a home, helping to remove some of the financial stress.

“One of the major bonuses of building a new home is you can avoid any hidden expenses like renovation costs and know that all appliances and fittings in the home will be covered by warranty,” Mr Harper said.

“This is definitely an added bonus for a first-time buyer, who is likely to not have dealt with renovations and replacing broken appliances before.

“The AVID Home Starter Reward is in the form of a $5,000 Visa Gift Card, which means eligible home buyers can spend it how they want or on the little incidental expenses – like moving costs and furnishing their new home.

“The offer is open to everyone, including those eligible for the Queensland Government’s First Home Owner Grant – meaning first home buyers could be walking away with up to $20,000.”

The AVID Home Starter Reward is available on selected blocks for eligible buyers and will be available until Sunday 6 October 2019. For full terms and conditions, visit  www.harmonyliving.com.au/startnew.

The selected Harmony blocks start from $228,500 for a 250m2 block, with house and land packages starting from $389,000.

1 National Property Buyers: Property Market Insights Quarter 2, 2019

2 Rental Tenancies Authority: Median rents finder (4553), April – June 2019

*Promotion Terms & Conditions: AVID Property Group’s Harmony community is offering the AVID Home Starter Reward with the purchase of selected blocks within the development. The promotional period runs from 5 September 2019 until 5:00pm AEST on 6 October 2019. For full T&Cs please visit: https://www.harmonyliving.com.au/startnew/

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