APD Research Memo
Sunshine
Stable · High confidence · Strong evidence · 30 August 2026
Conditions read as stable on median rent at $698 against a $609 historical average; median house value at $846,453 against a $752,345 historical average; sales volume at 50 against a 40 historical average; price-to-rent multiple at 23 against a 24 historical average.
APD View — Sunshine
Sunshine: conditions stable
Current data indicates conditions in Sunshine are stable. 14 indicators across 5 analytical dimensions inform this reading, with 57% pointing the same way.
Direction
Stable
Confidence
High
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 57% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| Rental growth | 5.4% | 5.9% | 6.1% |
| Vacancy rate | 1.9% | 2.0% | 2.0% |
| Days on market | 38 days | 39 days | 41 days |
| Advertised listings | 110 | 111.95 | 116.16 |
| Building approvals | 27.5 | 27.81 | 28.61 |
| Vendor discounting | -2.4% | -2.4% | -2.5% |
| Auction clearance | 64.1% | 64.8% | 65.3% |
| Sales volume | 50 | 49.4 | 49.35 |
What supports this view
- Median rent — $698 against a historical average of $609. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Median house value — $846,453 against a historical average of $752,345. House values sit above the historical average for this market. Historical percentile: 97.
- Sales volume — 50 against a historical average of 40.44. Transaction volumes are running above the historical average. Historical percentile: 97.
- Price-to-rent multiple — 23.31 against a historical average of 23.78. Prices are low relative to rents compared with the historical average. Historical percentile: 2.
- Population growth — 1.1% against a historical average of 1.0%. Population growth is running above the longer-run average. Historical percentile: 85.
- Auction clearance — 64.1% against a historical average of 61.3%. A larger share of auctions is clearing than normal. Historical percentile: 82.
What works against it
- Rental growth argues the other way — Rental growth reads 5.4% against a 6.0% historical average (0th percentile), which works against the current reading.
- 12-month price growth argues the other way — 12-month price growth reads 4.6% against a 5.1% historical average (15th percentile), which works against the current reading.
- Building approvals argues the other way — Building approvals reads 28 against a 23 historical average (70th percentile), which works against the current reading.
- Advertised listings argues the other way — Advertised listings reads 110 against a 99 historical average (65th percentile), which works against the current reading.
- Rental growth — 5.4%. Rental growth is running below its historical average. Historical percentile: 0.
- 12-month price growth — 4.6%. Annual price growth is running below its historical average. Historical percentile: 15.
- Building approvals — 27.5. Dwelling approvals are running above the historical average, pointing to more future supply. Historical percentile: 70.
- Advertised listings — 110. Advertised stock is above the historical average. Historical percentile: 65.
This memo is research, not personal advice, and does not take your circumstances into account. It describes the direction of underlying conditions on the evidence available and states what would change that conclusion. Methodology · Markets we're watching