Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Minyama Tops Hot Spots; but REIQ Chief Cautions 63% Growth Should Be Read in Context

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Minyama Tops Hot Spots; but REIQ Chief Cautions 63% Growth Should Be Read in Context

Article excerpt

Byline: JANINE HILL

MINYAMA is Australiaas money suburb for cashing in on real estate a if you believe everything you read.

Minyama was the best performing suburb in Australia last year with a 63% growth in house prices, according to Australian Property Investor Magazineas Hot 100.

But a Sunshine Coast real estate identity has suggested the list be read with caution as numbers do not tell the whole story.

Real Estate Institute of Queensland Sunshine Coast zone chairman Lloyd Edwards said that while Minyama was performing well, the growth figure of 63% was possibly misleading.

Mr Edwards said there had been good news for Minyama property owners a but not as good as 63% growth.

aIad like to tell my friends in Minyama that their properties have gone up that amount. Iad be invited to a lot of barbecues,a he said.

Mr Edwards said a couple of sales at the top end of the market after a quiet sales period could skew figures.

aThereas a number of high end sales over what has happened in previous years which is pushing it up from a low base,a he said. …

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