Why the world loves Gold Coast real estate
THE Gold Coast is the most searched for city in Australia when it comes to international buyers for the second year in a row.
The PropTrack Overseas Search Report released last week, analysed overseas search activity on realestate.com.au through 2021, revealing that more than half of overseas searches for the Gold Coast came from New Zealand.
More than half of overseas searches for the Gold Coast were from New Zealand.
An Air New Zealand flight arrives on the Gold Coast from Auckland in 2021. Picture Glenn Hampson
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House-hunting from across the ditch was driven by the opening of the trans-Tasman travel bubble mid-2021, the report stated.
REA Group analyst Karen Dellow said Kiwis were choosing the Gold Coast for a number of reasons, including better wages and lower housing costs.
“Queensland has the largest population of New Zealanders of all the states in Australia, and approximately a quarter of them are living on the Gold Coast,” she said.
“It is likely that the Gold Coast is attractive to New Zealanders for the warmer weather and job opportunities, along with the fact that they may have friends and family already living there.
“At this stage, there are no signs that this trend will end any time soon and we expect to see Queensland search activity from New Zealanders continue in the months to come.”
Gold Coast Airport CEO Chris Mills (left) with Destination Gold Coast CEO Patricia O’Callaghan and Chairman Paul Donovan (right) for a photo opportunity in 2021. Picture Glenn Hampson
The Gold Coast is popular with international house hunters.
A family from New Zealand splashed $5.025 million last month on a sprawling property at 105 Wongawallan Rd, Tamborine Mountain.
“We did a video call with the buyers and they bought it sight unseen,” said Isaac Kim of Ivy Realty, who marketed the property with Ivy Wu.
“They loved the space – they always wanted acreage for their kids and dogs to be able to run around a play.
“The couple also work from home so it was perfect for them.”
Brisbane pipped Melbourne and Sydney to take the second spot as most searched region by overseas searchers, the report revealed.
The GOld Coast is the most searched for city in the country among international buyers.
The Gold Coast was also high on the list for house-hunters from China, Singapore, the United States and United Kingdom.
Ray White Sovereign Islands agent Edin Kara this week showed properties to a couple returning to Australia from Singpoare.
“This couple has returned after living in Singapore for 20 years,” Mr Kara said.
“We have a lot of expats returning to Australia at the moment and I expect more and more buyers to keep coming as international travel opens up and they don’t have to quarantine.”
Top 10 suburbs Kiwis are buying in
1. Surfers Paradise
2. Broadbeach
3 Burleigh Heads
4. Hope Island,
5. Helensvale
6. Southport
7. Robina
8. Coolangatta
9 Palm Beach
10. Runaway Bay
Source: REA Group