Buderim is a major suburb on the Sunshine Coast, approximately 95km North of Brisbane. It is a picturesque and hilly location, overlooking Queensland’s Sunshine Coast. With a land area of about 648 sq.km, it’s a large and diverse suburb with property various styles, age and price brackets, starting from the mid $300ks right up to the $2.5 million mark. Being close to the beach and hinterland as well as commutable to Brisbane it appeals to many.
Buderim has evolved from a mere holiday destination a decade ago into a full-fledged, desirable residential area. In fact, two years ago, RealEstate.com.au reported that Buderim topped the list of the most searched suburbs in Queensland.
Since then the area has consistently appeared in searches for viable investment locations not only in Sunshine Coast but in whole of Queensland as well. One of the major reasons for the suburb’s appeal to investors is because of its proximity to the water, beautiful forest and Brisbane. It’s reputable schools—both primary and high school, public and private. The Sunshine Coast University is also a major drawcard and the sheer number of retirement villages demonstrates it’s popularity with retirees seeking the seachange and tree change!
In this suburb on spotlight edition, we’ll get to know Buderim a little better and see if it may be suitable as your next investment location.
The Demographics
We’ve highlighted in our previous suburb reviews the importance of knowing the demographics of the area one plans to invest in. Understanding your ‘audience’ means you can ensure your property suits the local population and will appeal to their requirements.
Population
http://www.censusdata.abs.gov.au/, accessed 30/07/2014
According to the census data of 2011, the majority of people residing in Buderim were in the 40-59 age bracket (29%), followed by those aged 0-19 years (26%). Median age was 43 years old.
Marital Status and Family Composition
More than half of people in Buderim aged 15 and above were married whilst around 25% were single.
The percentage of couple families with children (43.1%) are almost the same as those who have no children (43.4%).
Country of Birth
Around 74% of residents in Buderim were born in Australia. Most common residents of the area were from the UK (7.8%), New Zealand (5.2%), South Africa (1.5%), Scotland (0.8%), and Germany (0.8%).
Occupation
Labour force in Buderim is mostly comprised of professionals (23%), clerical and admin workers (15%), technicians and trades workers (14%) and managers (13%).
Top industries of employment were school education (6.7%), cafes and restaurants (4.7%), and hospitals (4.2%).
Travel to Work
Majority of employed people in Buderim travel to work by car (67.3%). A small percent (1.7%) walk going to work while 1.2% take public transport (bus).
Housing
Most of properties in Buderim are standalone houses (78%) with 4 or more bedrooms; followed by 15.1% of semi-detached, row or terrace house/townhouse types of property then 5.8% units/apartments.
Nearly 37% of these properties were on mortgage whilst 36.1% were owned outright. Around 22% of other properties, meanwhile, are being rented.
Mortgage and Rental Payments
The median weekly rent in Buderim is a healthy $460, this is well above the state and national weekly median. Median mortgage repayments are also healthy at $2000 per month.
The Numbers
Capital growth through the Sunshine Coast area since the global financial crisis of 2007-2008 has not been fantastic. Areas like the Sunshine Coast have been reliant on small business, retail, tourism and building – but all of these areas have suffered and it’s been slow going on the coast during this time. Buderim is one of a handful of areas that has shown relatively stable and even positive growth during this time and as the property market and general economic situation has improved over the past 12 months, so too has the growth in Buderim.
Facilities
Schools and Colleges
One of the biggest positives of Buderim is its reputation as a centre of many reputable educational facilities and schools—both private and public, from kindergarten through to university.
In the heart of Buderim’s Main Street is the famous Buderim Mountain State school, which was the first school to open on the Coast more than a century ago. Meanwhile, a 10-minute drive from Buderim is a relatively new college (it opened less than two decades ago) Chancellor State College.
Location-wise, Buderim also enjoys its proximity to Maroochydore and Mountain Creek’s primary and high schools, as well as Kuluin and Mooloolaba State School.
There’s also the Cooloola Sunshine Institute of Tafe and the University of Sunshine Coast in Sippy Downs.
Factor in the lush and picturesque settings of a number of reputable private schools that surround Buderim—there’s the Immanuel Lutheran College, an idyllic co-education school that seats on the ‘surf side’ of Buderim; Matthew Flinders Anglican College, a 20-hectare campus that is easily accessed from the Bruce Highway and Sunshine Motorway; Siena Catholic College in Sippy Downs, among others.
Healthcare and Aged Care
The closest public hospital to Buderim is Nambour General Hospital, which is the largest public hospital servicing the entire Sunshine Coast—as of now. Come 2016, however, the new Sunshine Coast University Hospital is scheduled to open with 450 beds and is expected to be 700+ beds by 2021.
Buderim has easy access to the Sunshine Coast University Hospital via the Kawana Way.
The Sunshine Coast Private Hospital, meanwhile, is located in the heart of Buderim.
Buderim has also been traditionally known as a retirement suburb owing to it’s large proportion of older people and a number of retirement villages sprawled in the area.
Shopping and Entertainment
Buderim has a number of shopping facilities, including a supermarket (Woolworths) on the main street. A major shopping centre can be found in the nearby Maroochydore (Sunshine Plaza), which is just 7-8 kilometre drive from Buderim.
Buderim residents will soon be spoiled for choices when it comes to entertainment and shopping once the Maroochydore City Centre development comes in full swing. There will be regional arts centre, a transit plaza, an ampitheatre, an urban open space, 65,000 sqm retail space, plus new dwellings within the principal activity centre. All of these will just be 10 minutes away from Buderim.
Infrastructure
Commuting to Brisbane
The Bruce Highway is easy to access and offers a straight run into Brisbane for many commuters.
Maroochydore Airport Expansion
Buderim, like the suburbs of Kawana Waters, Mooloolaba, Mountain Creek, and other surrounding suburbs will definitely benefit from the Sunshine Coast Airport expansion project. Expected to be completed in 2020, the multi-million dollar project is said to provide thousands of new permanent jobs upon its completion.
This airport expansion project will increase freight capacity and will result in new domestic and international destinations—all of which work as a driver for investment in the area.
Next post we will discuss the property types as well as share a case study property. Stay tuned!
