Coast suburbs where your home makes more money than you
IT WAS once considered the playground for the rich and famous, now it's the Sunshine Coast suburb making the rich even richer.
If you bought a home in Sunshine Beach five years ago, you'd be laughing now.
Analysis by RiskWise Property Research shows house prices in the pristine suburb have risen by an average of $109,401 a year in the past five years.
It is significantly more than the annual median income of $69,680, meaning property owners can put their feet up with a passive asset.
Noosaville real estate agent Willie Carne himself moved there 11 years ago and "fell in love" from the get-go.
"The only side suburb that compares is Little Cove, but that is twice as expensive and you have to go through Hastings St," Mr Carne said.
"Hastings St is great but it is always busy. Sunshine Beach is quieter and has more open beaches."
He said it had become a suburb for the rich and famous.
Golfer Adam Scott lives there, as does culinary tycoon David Hales, tennis pro Josh Eagle and property developer Bob Ansett.
Pat Rafter recently sold his $15.2 million mansion to move to Byron Bay.
"They all want to live here, it's just an amazing place," the former State of Origin great said.
"And there is a lot of old money, people who have lived there for years. It is the number one place to be.
"It is all about supply and demand. Thousands of people want to live here, and only a small number of houses. So prices go up."
Carne praised Noosa Council for their involvement in keeping its 'soul' when investors were trying to change it.
RiskWise Property Research chief executive Doron Peleg said the fact the vast majority of the suburbs were beachside reflected a national trend of sea-change suburbs outperforming tree-change suburbs.
"We are seeing a combination of retirees, business owners and entrepreneurs and a significantly growing number of mobile professionals moving to these lifestyle locations," Mr Peleg said.
He said the suburbs were all considered "lucrative" in southeast Queensland, attracting high net worth individuals and a high socio-economic demographic.
Queensland suburbs five-year annual change
- Mermaid Beach: $120,702
- Sunshine Beach: $109,401
- New Farm: $101,303
- Surfers Paradise: $96,970
- Main Beach: $85,263
- Minyama: $78,345
- Noosa Heads: $74,889
- Noosaville: $62,417
Source: RiskWise Property, CoreLogic, ABS