SHELDON WELCOMES RISING CONFIDENCE IN SUNSHINE COAST PROPERTY

Deputy Premier and Member for Caloundra Joan Sheldon today welcomed the findings of the latest Midwood Queensland Development Report which revealed rising confidence in the Sunshine Coast property market with the emergence of larger projects from Caloundra to Noosa.

At the same time, the Midwood Report highlighted a pleasing result for Sunshine Coast accommodation houses in the June quarter with total visitor spending up 7% on the previous year and room rates up 3%.

"This report highlights the confidence in the Sunshine Coast economy. It is obviously great news for the construction and associated industries such as tourism and retail with benefits also flowing on to job seekers throughout the region," Mrs Sheldon said.

The report stated the largest of the Sunshine Coast developments was the $100 million staged tourist project for the Mooloolaba Hotel site.

It stated the Sunshine Coast's larger developments were backed by both medium and large players with considerable experience in the development game.

The report also revealed that several unit projects which were carried over for the past few quarters were now sold out. There are also new projects to take their place.

Off-the-plan investors were showing interest in projects such as Chancellor Park, which is accommodation for students at the Sunshine Coast University College

The report also stated retirement village sales were also strong in the region during the latest quarter, with 12% of all independent living units on the market in September and 7% or 43 units sold in the previous quarter. There were 16% of all serviced apartments on sale and 6% sold in the quarter.

Mrs Sheldon said that generally the report highlighted the strength of the Queensland residential sector in the September quarter, noting that the same pattern was repeated in every region in Queensland.

"These positive signs for dwelling investment are a real boon for Queensland's economy, which is already the strongest of any State."

Mrs Sheldon said the Midwood Report also noted that the non-residential construction sector would be boosted by the Coalition's new hospital building program and that would ensure strong demand for construction in most regions including the Sunshine Coast.

She said the Coalition had provided $14.8 million for the Caloundra Hospital redevelopment and $8 million in progress funding for the Nambour Hospital redevelopment.

Mrs Sheldon said the additional $4 million for the Caloundra Hospital project was great news for Caloundra and the surrounding areas of the southern Sunshine Coast, and further highlighted the Coalition Government's strong and ongoing commitment to the Sunshine Coast.

"The State Government's strategic plan to enhance health services on the Sunshine Coast is now well underway," Mrs Sheldon said.

"The State Government will also shortly announce the successful tenderer for the new Noosa Hospital.

"The Sunshine Coast can now look forward to three first-class public hospitals, with Nambour serving as the major district hospital, supported by the new Noosa Hospital and the redeveloped Caloundra Hospital."