11 May Sunshine Coast Region – Economic and Population growth hub of Southeast Queensland!
Only 100km north of Brisbane, the Sunshine Coast boasts one of Australia’s leading regional economies, having almost doubled its Gross Regional Product during the last decade to over $16bn. The region is on the property market spotlight due to strong Key Investment Drivers that support property capital growth and rental yield.
Its population is estimated to increase by almost 3% annually over the next 20 years. By 2025, 15,000 new jobs will be created in Maroochydore City alone. The economic strength comes from new infrastructure projects such as a new International Airport, new hospitals, the expansion of The Sunshine Plaza, new solar farm and the proposal of Caloundra’s light rail.
Key Investment Points
- Population to increase by almost 3% annually over the next 20yrs
- 15,000 new jobs by 2025 and well in excess of that over 25yrs in Maroochydore City alone
- Maroochydore City is projected to deliver a $4.4bn boost to the Sunshine Coast economy and $5.9bn to QLD’s economy
- A new $347m international airport to be completed by 2020 will create 2,300 jobs and open the region to the rest of the world, making it far more accessible.
- The Sunshine Plaza is undergoing a massive $400 million expansion, creating 5,200 construction and retail jobs
- $1.8bn hospital with 900 new beds delivered in 2017
- The tourism industry delivers over $219m to the local economy
- A new solar farm benefiting the economy by $10m is currently under construction
- Light rail project under consideration which will connect Caloundra and the airport by 2025
- 100km north of Brisbane
- The coastline stretches 55km from Caloundra to Noosa
- Includes Kawana, Mooloolaba, Maroochydore, Buderim and Coolum. Hinterland towns include: Beerwah, Nambour, Landsborough, Montville, Maleny and Mapleton
- LGAs: Sunshine Coast Regional Council and Noosa Council
Population and Demographics
- 10th largest metropolis in Australia
- Population 2011 Census: 307,000
- Projected population 2040: 550,000
- Popular retirement destination
- Second only to Melbourne (across AU) in highest net migration gain
Major Employment Industries
- Healthcare & social assistance: 16.5%
- Retail: 13.2%
- Construction: 11.3%
- Accommodation & food services: 9.1%
- Education & training: 8.7%
- Manufacturing: 5.7%