Chevallum has ranked ninth on the list of top 10 most expensive Queensland suburbs.
Chevallum has ranked ninth on the list of top 10 most expensive Queensland suburbs. Contributed

The tiny Sunshine Coast town with a huge price tag

A SMALL Sunshine Coast town is now one of the most expensive suburbs in the state, with "spooked" Sydney and Melbourne investors looking to broaden their horizons.

Chevallum - with a population just 441 according to the 2016 census - has ranked ninth on the list of top 10 most expensive Queensland suburbs with a median house price of $1.3 million

The CoreLogic market trend data further revealed Sunshine Beach came in fifth place with a median house price of $1.5 million, compared to the most expensive, Ascot, at $1.6 million.

Next Property Group real estate agent Craig Porter said Chevallum was an attractive area to buy due to its large block sizes and central location with schools and beaches close by.

"A lot of those little outer suburb blocks have bigger blocks of land," Mr Porter said.

"If you want a horse, you really have to go out that way.

"You don't get that size out at Tanawha or Buderim."

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Mr Porter said a mix of people were taking interest in the area, but interstate buyers made up "a lot of what's happening" in the market.

It's been a bumper year for Sunshine Coast real estate according to Mr Porter, who said his busy holiday period in 2018, was only rivalled by the year before.

"Brisbane (buyers) certainly and Sydney and Melbourne buyers are particularly active," he said.

"Buyer activity is at an all time high."

Next Property Group currently has a home listed on Dales Rd, Chevallum which features five bedrooms and four bathrooms on 6.02ha for $2.39 million.

Mr Porter said there'd been a good amount of interest in the property, which is for someone wanting a "really big home".

REA Group chief economist Nerida Conisbee, told The Courier Mail investors were "really spooked" by Sydney and Melbourne last year so were "likely to be looking across that Southeast Queensland region for opportunities this year".

Sydney's most expensive suburb last year was Bellevue Hill with a median house price of $5.5 million and Melbourne's Toorak had a median house price of $3.4 million.

Queensland's most expensive suburbs:(Based on median house price)

Ascot $1,600,000

Chandler $1,580,000

Teneriffe $1,577,500

New Farm $1,500,000

Sunshine Beach $1,500,000

Mermaid Beach $1,456,000

Bulimba $1,320,000

Hamilton $1,302,500

Chevallum $1,300,000

Upper Brookfield $1,280,000

(Source: CoreLogic Market Trends)