Andrew Bell’s Market Wrap: Strong Buyer Activity From Two Distinct Groups

Issue 2  |   December 17th 2019  |  Strong Buyer Activity From Two Distinct Groups

I can pleasingly report a wonderful Christmas/New Year season here on the Gold Coast. We keep reporting record numbers of visitors to the Gold Coast, and that is because we keep building new buildings every year to accommodate more and more people. It has been an incredibly robust and very full holiday season over the Christmas/New Year period. Add to that some truly spectacular weather and the Gold Coast was the place to be over the past few weeks.

It was in the movie Forrest Gump that the famous line ‘life is like a box of chocolates and you don’t quite know what you are going to get’ came from. We never know quite what to expect when record people are on the Gold Coast enjoying spectacular weather, but every venue I have spoken with has reported similarly about people loving the Gold Coast, spending up big, and with ever-increasing numbers of people talking about moving here. This is supported by the fact that we have been run off our feet over the past few weeks. I always look at a couple of indicators and one was having three sales on Christmas Eve and two sales on Boxing Day as an indicator of just how keen people are on the real estate market. Since Boxing Day, we have been averaging anywhere between 5 – 7 sales per day and our open homes have been enjoying incredible inspection numbers, with some properties receiving as many as 30 inspections over a weekend.

This strong activity in the real estate market has come from two distinct groups. The first are locals who understand the Coast perhaps better than most and perhaps appreciate it more than most. They are confident about our regional economy and about the year ahead. Buyers have been looking for their next residential home and quite a number are looking to add to their investment portfolio. The second group is of course the interstate migrators who are rolling through in greater numbers than ever. They are either young families looking for a better lifestyle than Sydney and Melbourne have been providing and of course better value real estate, or retirees who are capitalising on the high prices they can obtain for their properties back home and buy better value properties here with a better lifestyle to go with it.

Perfect timing for The Event 2019 in which we have just on 110 properties across a huge array of Gold Coast suburbs in all price brackets and property types that are on offer. We work so hard to ensure we get the best of properties in each of those classifications to be able to offer to both our local and interstate buyers in January. Click here to view all of those properties, as well as a link to a list of open homes this coming weekend. Make sure you get out and have a good look around.

I should also take this opportunity to remind you that the auction will be on Monday 28^th January 2019, which is a public holiday, making it easy for our interstaters to travel to the Gold Coast for a long weekend for a final inspection on the properties they are looking to buy and to be part of the auctions on the public holiday Monday, 28^th January. We only have 10 days from now until the auction, but it does include two weekends for those who want to inspect properties over those weekends.

Please also remember that we have the country’s very best interest rate only available for buyers buying properties part of The Event program. This interest rate is 3.55% for owner occupiers and 3.79% for investment purchases. View more details here.

There are 175 cities or towns in Australia with a population of more than 10,000. So much attention was given in 2018 to the Sydney and Melbourne markets and the major price corrections that they were inevitably going to have after years and years of strong price growth. Yet, the other 173 cities and towns had other factors driving their markets and last year saw some strong property growth in many of those centres. The Gold Coast is a standout city of the 173 remaining population centres, so come join us and be part of this exciting bustling city, upgrade your properties, or simply move to a new one for a change. 2019 is the year to make the best of what the Gold Coast has to offer.

That is all for this week. All the very best and once again, a very Happy New Year in what I think will be a fabulous year for the Gold Coast.

Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group

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