All about Caloundra Property

By Alex May

With seven pristine beaches and the picturesque Glasshouse Mountains in the hinterland, Caloundra on the Sunshine Coast has the honour of being one of Queensland’s fastest-growing hotspots during the property boom of the last five years.

The median house price in the sleepy little beachside hideaway - which has long been a holiday spot for families and a seachange locale for retirees - grew by a whopping 166 per cent between December 1999 and December 2004.
Home Price Guide says the median house price in Caloundra went from $135,000 in 1999 to $359,500 by the end of 2004 – which outstripped ritzy Noosa’s median house price gains of 128 per cent over the same period.
Known as the gateway to the Sunshine Coast, Caloundra has always been a beachside retreat for Brisbane-ites and retirees attracted to affordable property prices and a beachside lifestyle.

The property boom of the last five years has changed the town – but not much.
The modest fibro shacks have given way to highrise apartments and modern project homes, but the bulk of Caloundra property remains priced at under $500,000.
Property analyst Michael Matusik says Caloundra is still a sleepy beach retreat.
“If you walk down the main street, you see the same businesses that have been there for 30 years and some of them still don’t even have air-conditioning,” he says.
“Caloundra has real appeal for the family market, it is still only an hour from Brisbane and it has great beaches with waves that are fairly meek.”

THE SETTING

Caloundra is on a small headland that juts into the South Pacific Ocean, surrounded by seven beaches with the lush hinterland in the background.
The name Caloundra apparently means “beautiful place” and the geography of the beachside town is unique.
The area south of Caloundra forms part of the Pumicestone Channel, a pristine waterway between Bribie Island and the mainland which offers unspoilt fishing and birdwatching.
L.J. Hooker Caloundra principal Jed McCormack says the easy access to Caloundra’s seven beaches make it a unique seachange spot.
“With the seven beaches, it means it doesn’t matter which way the wind is blowing because you can always find a nice, safe beach to swim at,” he says.

The protected Golden Beach has the largest stretch of sand in Caloundra, while Bulcock Beach is close to the CBD area and has a fast-paced channel of water that allows you to float all the way down to the end of Pumicestone Passage.
Kings Beach is one of the most popular tourist spots, with golden sands, an ocean pool and good surf. The foreshore area has just been upgraded with new fountains and shade areas.
McCormack says Moffat and Shelly beaches are the prime beachside residential areas, with most houses in easy walk of the sand and surf and many with ocean views.
“Only the tourists go to Kings or Bulcock beaches – we prefer the others which are quieter,” he says.
“Moffat is probably the best residential area because it has the northerly aspect and the beach.”

THE CALOUNDRA BOOM

The prices of beachfront property – and anything with an ocean view – have absolutely skyrocketed, with several sales of more than $2.5 million in 2003 and 2004.
“We sold one house at Moffat Beach last year for $3.5 million, which was a pretty amazing price,” McCormack says.
Beachfront units remain more affordable, usually priced between $600,000 and $1 million.
Caloundra City Mayor Don Aldous says the population of Caloundra has gone from 48,000 in 1994 to around 80,000 in 2004.
“Caloundra has attracted a lot of baby boomers as well as young people with kids who work in the service industry,” he says.
“I think we boomed so much because we were playing catch-up to the rest of the Sunshine Coast – Caloundra was always more affordable.”

Mr Aldous says the biggest benefit of the boom has been the large numbers of people with money that have moved into the area.
“The money has flowed into town with things like Pelican Waters and Kawana Waters,” he says, referring to two canal-style residential subdivisions on the fringes of Caloundra.
The canal estates have affordable modern homes starting in the $400,000s but a large canal-front house can cost upwards of $2 million.

Sunshine Coast Realty principal Desleigh McDonald says the boom is slowly forcing the town to upgrade its amenities.
“There are more people here now and they are demanding things like high-quality restaurants,” she says.
McDonald says four new restaurants and a day spa are planned opposite Bulcock Beach, one of the town’s main tourist spots – “that probably would not have happened before the boom”.

THE MARKET AHEAD

While many market analysts like Michael Matusik and Home Price Guide’s research director Louis Christopher are saying Caloundra property prices have peaked, they acknowledge that the town is poised for property gains over the long term.
“Caloundra Downs is the thing that will change the area,” Mr Matusik says, referring to a large development area just south of Caloundra which has been earmarked for subdivision.

Mayor Aldous says Caloundra Downs is not scheduled to happen until 2010 or 2012, but it will take the area’s population to 150,000 people and create local jobs and infrastructure.
“Caloundra Downs will be the equivalent of taking the town of Rockhampton and putting it on our doorstep,” he says.
“The development will bring new access roads to the area and that should make the trip to Brisbane a lot quicker.”