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Staff Reporter
Property prices on the Sunshine Coast won't start to recover until the Brisbane market heats up, according to a report released by PRDnationwide.
The Sunshine Coast Market Overview report reveals the Sunshine Coast market is now at the bottom of the property cycle and recovery will lag behind the Brisbane market.
Report author, PRDnationwide research analyst Josh Brown, said house prices and the volume of sales are at their lowest levels in a decade.
"It is expected that the market will remain flat at least until the end of the year, as looming increases to interest rates continue to subdue demand from purchasers," he said.
PRDnationwide Buderim director Rick Williams said the market has been in a holding pattern but he had started to see ripples of confidence among buyers.
"There seems to be a bit more of a spring in their step at open homes," he said.
"With the recant Queensland Government Building Boost and Stamp Duty changes there is a growing percentage of buyers who are bringing their property purchasing decisions ahead instead of waiting for another 3 to 4 months.”
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