Queensland Property’s Hottest Spot

Information published last week confirmed South East Queensland's status as the number one choice in the country for both interstate and international buyers and renters.

The report, which was released last week and discussed in the weekend's Gold Coast Bulletin, showed that the Gold Coast was the number one location nationally when it came to interstate buyers looking to relocate.

For those looking to move and rent, the Gold Coast featured second for interstate migration with the Sunshine Coast claiming the top gong.

When it comes to international buyers and international renters, the Gold Coast topped both lists in a huge vote of confidence for the Gold Coast property market.

Whilst there are undoubtedly headwinds looming in the form of further interest rate rises which will likely lift stock levels, the current buyer and rental enquiry levels have the Gold Coast well placed over the short term to maintain current price levels.

The full article from the weekend's Gold Coast Bulletin is our feature this week. The full article with the headline "Queensland Property's Hottest Spot" is below 

Queensland Property’s Hottest Spot  

Southern states left out in cold as searches favour Sunshine State  

Queensland is the most sought after place to live for both interstate and overseas buyers and renters in Australia, with Sydney and Melbourne left in the dust. 

In further evidence of just how far Australia’s two largest cities have fallen out of favour, the Little Hinges Sight Unseen Report for June shows that the Gold Coast, Sunshine Coast and Brisbane are firmly the hot favourites among interstate and overseas buyers and renters. 

The Gold Coast recorded the highest number of virtual inspections in the country, attracting 40.3 per cent of the total number of interstate buyer inspections and 9.8 per cent of all overseas eyeballs. 

Inspections of Sydney and Melbourne properties paled in comparison, with Australia’s two biggest cities attracting around 14 per cent each of all interstate buyer inspections. Nationally, interstate inspections averaged 24.6 percent while overseas inspections averaged 8.2 per cent. 

Little Hinges chief marketing officer Mike York said the report showed a recovery in the number of buyers inspecting property sight unseen, a trend that accelerated during the pandemic lockdowns. “The percentage of buyers inspecting property from interstate are at their highest levels since the start of the year (24.6 per cent), and the percentage of international inspections is the highest it has been since January 2022 (8.2 per cent),” he said. Little Hinges analysed more than 300,000 virtual inspections in June for the report. 

Buyers from NSW and Victoria accounted for the largest interstate inquiry into South East Queensland, while those from New Zealand, the US and UK made up the lion’s share of overseas interest in Brisbane, the Gold Coast and the Sunshine Coast. 

On the flipside, Queensland-based buyers were looking to Sydney and Melbourne, albeit potential migration from the Sunshine State was at a lower rate, the analysis shows. 

Buyers agent and founder of Propertyology Simon Pressley said that, when borders were closed during the pandemic, people explored new areas and many liked what they saw. “People tend to think that when you talk about moving to Queensland that you are talking about Brisbane, but when we look at population over the last decade within the 20km radius of the CBD, Brisbane’s population has actually decreased by around 8300,” he said. “But when you look at the Gold Coast and Sunshine Coast, their populations over that same period soared by 55,800 and 56,500 respectively.” 

The data shows that interstate tenants are also looking to make the move despite the state’s ongoing rental crisis. 

The Sunshine State accounted for the most virtual rental inspections in Australia. 

NATIONAL MIGRATION BUYERS 

National Averages - Interstate 24.6%, Overseas 8.2% 

1. Gold Coast 40.3% / 9.8% 

2. Sunshine Coast 38.5% / 7.4% 

3. Brisbane 23.2% / 7.5% 

4. Perth 16.8% / 7% 

5. Sydney 14.4% / 6.7% 

6. Melbourne 14.3% / 8% 

RENTERS 

1. Sunshine Coast 32.9% / 9.6% 

2. Gold Coast 27.9% / 11.8% 

3. Brisbane 18.5% / 8.9% 

4. Perth 17.5% / 8.9% 

5. Melbourne 15.5% / 9.4% 

6. Sydney 11% / 11.2%