Out-Of-State Investors Snap Up Property In Queensland

August 06 2020

"Restricted interstate travel has not stopped investors from other parts of the nation from purchasing property in Queensland. Virtual tours are becoming more and more accepted as the PropTech space proves crucial." - Ben Crow

As the coronavirus crisis drags on, an increasing number of families from Melbourne and Sydney are quitting the city for sunshine and space in Queensland.

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Agents say some are snapping up homes on the Gold Coast without even viewing them as virtual tours become the new norm.

Andrew Bell from Ray White Surfers Paradise said last weekend alone the agent sold “nine properties to people who had not even seen the property”.

“The period where you would expect us to soften we have actually strengthened enormously,” he told 7NEWS.

Buyers from Melbourne and Sydney who may not be able to visit the Gold Coast but can plan their future here.

“People are now saying, you know what this is probably a way of life now.”

In high demand

Large apartments and townhouses are in high demand, as well as properties on acreage.

“Some feel they’d even be safer with some acreage and distance from neighbours,” Bell said.

It’s backed up by new data from Muval - a company that connects people with removalists - which found Sydneysiders are leading the charge, making up 30 per cent of interstate migrators.

Melbourne was next with 27 per cent.

Most were seeking to move to the sunshine state but the Gold Coast Mayor says that’s no surprise and is rolling out the welcome mat.

“It will broaden the base of our economy,” Tom Tate said

Source: https://7news.com.au/lifestyle/real-estate/sydneysiders-snap-up-property-in-the-sunshine-state-amid-covid-crisis-c-1211537

Abate, A., & Woolley, S. (2020, August 2). Sydneysiders and Melburnians snapping up Queensland properties amid COVID crisis. Retrieved from https://7news.com.au/lifestyle/real-estate/sydneysiders-snap-up-property-in-the-sunshine-state-amid-covid-crisis-c-1211537