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The South East Queensland (SEQ) region continued to be the top choice for interstate and foreign buyers.<\/p>\n
Little Hinges\u2019 Sight Unseen report, which analysed 200,000 virtual inspections in April, showed Queensland\u2019s appeal to southern buyers, with an average of 29.5% of properties being virtually inspected by interstate buyers, primarily from New South Wales and Victoria.<\/p>\n
Of the three major markets in SEQ, the Gold Coast is considered the \u201chottest\u201d location for interstate buyers nationwide.<\/p>\n
The report showed that the Gold Coast had the highest number of interstate inspections.<\/p>\n
Little Hinges CEO and co-founder Josh Callaghan said nearly half of all prospective buyers of Gold Coast property are from other states, almost reaching the level of local demand.<\/p>\n
\u201cOnly 57.3% of buyers inspecting property on the Gold Coast were locals \u2014 if you compare this with the southern cities like Sydney, 91% of inspections were being conducted by locals,\u201d he said.<\/p>\n
The Sunshine Coast and Brisbane are also recording healthy levels of interstate and foreign activity.<\/p>\n
Around 28% of properties in the Sunshine Coast and 23% in Brisbane were inspected from interstate.<\/p>\n
\u201cSellers need to showcase their property to the widest audience of potential buyers \u2014 traditional methods only cater for a local audience, and virtual tours are essential for capturing the significant interstate and international market,\u201d Mr Callaghan said.<\/p>\n
\u201cWhile physical open homes service local buyers who can attend, sellers need to consider how they are reaching buyers who are interstate and overseas.\u201d<\/p>\n
CoreLogic\u2019s dwelling price index in April showed a 1.7% monthly and 29.3% annual growth in Brisbane\u2019s median price. Meanwhile, regional Queensland posted a 1.7% monthly and 25.3% annual gain in median price.<\/p>\n
A recent study by Momentum Wealth ranked Brisbane as the second-best place for investment among investors next to Perth,<\/a> with around 32 of active investors planning to snap up a property in the city over the next 12 months.<\/p>\n Around 29% of those who favoured Brisbane were attracted by the city\u2019s current place in the housing cycle, while over a third cited its affordability.\u00a0<\/p>\n Meanwhile, around one in five who listed Brisbane as their place to invest highlighted the announcement that the city will host the 2032 Olympic Games as a driver for their preference.<\/p>\n \u2014<\/p>\n Photo by @cityofgoldcoast on Unsplash<\/i><\/p>\n<\/p><\/div>\n
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