Could Parrearra be the Best Area to Buy on Sunshine Coast? Read on to find out!
Date Prepared: 28th December 2024
Overview
Parrearra, situated 5 km southeast of Kawana Waters CBD and 94 km north of Brisbane, is a thriving coastal suburb known for its canal-front properties, family-friendly atmosphere, and modern amenities. Offering a unique blend of luxury living and convenience, Parrearra is a highly sought-after destination for families, professionals, and investors alike.
Suburb Snapshot
- Median House Price (2024): $1,325,000
- Annual Growth (2024): 5.2%
- Distance to Major Locations:
- Brisbane CBD: Approx. 94 km (Approx. 1 hour 20 minutes’ drive)
- Sunshine Coast CBD: Approx. 15 km (Approx. 20 minutes’ drive)
- Kawana Waters CBD: Approx. 5 km (Approx. 10 minutes’ drive)
- Caloundra CBD: Approx. 10 km (Approx. 15 minutes’ drive)
Demographics
- Population: 4,852 (2021 Census, ABS)
- Median Age: 42 years
- Housing Types: Predominantly detached houses, complemented by canal-side luxury homes and modern units.
Property Market Overview
- House Prices: Median of $1,325,000 in 2024, showcasing stable growth.
- House Rent: Median weekly rent of $870.
- Rental Yield (Houses): 3.5%.
- Unit Prices: Median of $770,000 in 2024.
- Unit Rent: Median weekly rent of $670.
- Rental Yield (Units): 4.5%.
- Vacancy Rate (Nov 2024): 1.5%.
Long-Term Growth:
Parrearra’s median house price has increased from $458,000 in 2006 to $1,325,000 in 2024, representing an annual growth rate of 6.3% over 18 years. The suburb saw significant growth in 2022 (+37.5%) and 2021 (+19.1%), driven by infrastructure improvements and heightened demand for canal-front properties.
Notable Recent Sales:
- 9 Sable Court: Sold for $3,100,000 (Dec 2024)
- 31 Cuba Court: Sold for $1,660,000 (Nov 2024)
- 14 Seychelles Place: Sold for $2,380,000 (Oct 2024)
Education Options
- Primary Schools: Buddina State School.
- Secondary Schools: Kawana Waters State College.
- Private Schools: Sunshine Coast Grammar School.
- Child Care Centres: 3 local centres providing early learning and care.
Lifestyle and Amenities
- Shopping Centres: Kawana Shoppingworld and Parrearra Village offer a variety of retail, dining, and entertainment options.
- Parks and Recreation: Double Bay Beach Park and nearby walking trails provide excellent recreational spaces.
- Unique Highlights: Canal-front lifestyle and proximity to pristine beaches.
Health and Wellbeing
- Hospitals: Sunshine Coast University Hospital and Birtinya Private Hospital, offering state-of-the-art healthcare services.
- Pharmacies: Multiple options within a 3 km radius for convenience.
- Community Wellness Programs: Local fitness groups and wellness initiatives promote a healthy lifestyle.
Community and Employment
- Employment Sectors: Healthcare, retail, and tourism dominate the local economy.
- Community Activities: Regular markets, canal clean-up events, and local sports clubs enhance community engagement.
Recent and Planned Developments
- Kawana Waters Marina Expansion: A multi-million-dollar project set to enhance mooring facilities and boost tourism by 2026.
- Double Bay Recreation Precinct: Scheduled for completion in 2027, this project will include new playgrounds, picnic areas, and outdoor fitness equipment.
For more development projects in Sunshine Coast, [Click here].
For more development projects in South East Queensland, [Click here].
Key Statistics Table
| Metric | Value |
|---|---|
| Population (2021) | 4,852 |
| Median House Price (2024) | $1,325,000 |
| Median Unit Price (2024) | $770,000 |
| Median House Rent | $870 per week |
| Median Unit Rent | $670 per week |
| Rental Yield (Houses) | 3.5% |
| Rental Yield (Units) | 4.5% |
Sunshine Coast Buyer’s Agent Introduction
Looking for the best buyer’s agents for the Sunshine Coast? IPS Buyer’s Agent has you covered! We are a full-service buyer’s agent on the Sunshine Coast. Whether you’re a first-time buyer, upsizing, downsizing, or looking for luxury property, our expert Suburb Profiles and dedicated services will guide you every step of the way. Contact us for comprehensive advice tailored to your needs.
Conclusion: Why Choose Parrearra?
Parrearra stands out as a prime Sunshine Coast suburb with its canal-front lifestyle, modern amenities, and strong investment potential. Its stable long-term growth, vibrant community, and upcoming developments make it a desirable choice for families, professionals, and investors. Whether for lifestyle or investment, Parrearra offers unparalleled opportunities.
Ready to make Parrearra your next destination? Contact us today to begin your journey!