Why now is a great time to sell property on the Gold Coast

Coronavirus has shocked the world in every way possible. Economically, emotionally, socially, mentally, it has truly been a ‘crisis like no other’. So, it is no wonder that sellers took their properties off the market at the beginning of COVID-19. Nobody knew what to expect in the future, and we were bombarded with many different predictions for the future of our country.

Fast forward a few months, and to everybody’s surprise, the property market in Queensland is booming! In fact, realestate.com.au reported that in the month of September, Queensland’s Digital Inspection Video views have increased by 52% in comparison to this time last year. Engagement with 3D Tours have increased by 259%. Searches in the ‘Buy’ site section are up 36%, as well as rentals which are up 18% year on year.

If this is not enough reason to suggest that it is a great time to sell, let me give you some more points to consider.

I will start by stating how lucky we are to live in such a beautiful part of the world. The ‘Sunshine State’. Where the weather is warmer, the people happier and the properties more affordable than our southern states. Liveability in Queensland is extraordinary. Why would you want to live anywhere else?

Well, it appears people are asking that exact question. We are getting an influx of interstate enquiries on both sale and rental properties, predominately from NSW and VIC. Properties in these states are more expensive than on the Gold Coast, so buyers get a lot more bang for their buck! For example, a modern 2-bedroom, 2-bathroom, 1-car space apartment, 1.4km from Bondi Beach is currently on the market for $1,325,000.

Comparatively, we have found a 2-bedroom, 2-bathroom, 2-car space apartment in Broadbeach, on the beachfront, taking up the whole 27th floor, modern with 250degree views of the Gold Coast.  The building has 2 pools, a tennis court, gymnasium and is currently on the market for $1,200,000. With the ‘spare change’ maybe you could buy a brand-new car? Just a thought. But I did tell you, you get more for your money!

It seems people in the southern states are beginning to see this.

Searches for interstate homes from Victoria (on realestate.com.au), are up 54% on last year, with the Gold Coast region being one of the top areas in their search criteria.

According to realestate.com.au, the most searched interstate regions by Victorian-based users since COVID-19 hit are;

https://www.realestate.com.au/news/melbourne-lockdown-interstate-regions-luring-victorian-searchers/

Buy

Hobart greater region, TAS

Launceston greater region, TAS

Gold Coast, QLD

Noosa Heads, QLD

Sunshine Coast, QLD

Byron Bay, NSW

Devonport greater region, TAS

Brisbane greater region, QLD

Moama, NSW

Cairns greater region, QLD

There has also been an influx of buyer’s purchasing properties ‘Sign Unseen’ as the properties are going under contract extremely quickly. Additionally, interstate buyers have no time, and no real way, of coming up to the Gold Coast for an inspection.

There are more buyers than sellers currently, and with the government initiatives, it really is a great time to buy!

The reserve bank of Australia has left the official cash rate on hold at 0.25% which is great news for buyers. Coupled with the first home buyer incentives, which gives an extra 10,000 places in the federal government’s First Home Loan Deposit Scheme. This scheme is available to first-home buyers this financial year, allowing first home buyers to put down a 5% deposit on a house with the government guaranteeing the remaining 15% of the deposit.

And if that isn’t enough to convince you, its Spring! And everybody knows that there is no better time to sell. The flowers are bright and blooming, the grass becomes lush and green, the sky seems to be clearer and longer days just call for House Inspections!

There has also been an influx of buyer’s purchasing properties ‘Sign Unseen’ as the properties are going under contract extremely quickly. Additionally, interstate buyers have no time, and no real way, of coming up to the Gold Coast for an inspection.

There are more buyers than sellers currently, and with the government initiatives, it really is a great time to buy!

The reserve bank of Australia has left the official cash rate on hold at 0.25% which is great news for buyers. Coupled with the first home buyer incentives, which gives an extra 10,000 places in the federal government’s First Home Loan Deposit Scheme. This scheme is available to first-home buyers this financial year, allowing first home buyers to put down a 5% deposit on a house with the government guaranteeing the remaining 15% of the deposit.

And if that isn’t enough to convince you, its Spring! And everybody knows that there is no better time to sell. The flowers are bright and blooming, the grass becomes lush and green, the sky seems to be clearer and longer days just call for House Inspections!

Properties seem to sell themselves in Spring. It really is when properties seem to show their best light.

Are you thinking of selling? Give our friendly team a call now!

07 5573 4114