Sun. Oct 17th, 2021

A popular Gold Coast vacation and party destination has sold twice as many properties as any other location in the country over the past year, according to the latest property data.

The property report showed that Surfers Paradise has had the most sales nationally, far above higher populated places in Victoria and New South Wales.

It recorded 2,325 sales settlements in 12 months – more than double what it would generally sell annually – according to local agents.

Ray White’s CEO Andrew Bell said it was the only place outside Victoria that came at the top of the sales list.

“The next place was the city of Melbourne, which had only 1,210, so that margin really shows how popular Queensland is.

“Surfers really had a colossal number of sales in one year, it shows that Surfers Paradise stands out as a favorite destination”.

Surfers Paradise skyline at sunset with the beach and waves crashing on sand.
Surfers Paradise sold over 2,000 units last year and remains the best-selling suburb in recent annual and quarterly reports.(Source: City of Gold Coast)

According to Mr Bell, COVID caused a large number of holiday rental owners to sell their properties because they were unable to secure guests and were unable to visit themselves.

He said the shift saw a huge increase in the availability of units at the already popular location on the Gold Coast.

“Availability of apartments plays a role in it, no doubt, but I think [people selling] has stimulated sales to the market with people unable to get up here, “he said.

“It’s created more inventory.

A man in a suit smiling.
Surfers Paradise Ray White CEO Andrew Bell said the Surfers Paradise demographic is changing.(Delivered by: Andrew Bell)

Sir. Bell said the majority of those who have moved into the units are downsizing from homes and wanted a sea change.

“People want to be close to the sea, so it’s apartment housing, unless you walk into a very expensive home, and Surfers Paradise has more apartments than any other suburb in Australia,” he said.

“And it’s all kinds of people, high-end people who buy $ 10 million plus housing, or people who come in and rent. But in general, there’s just a lot of interest in being in a central place like Surfers Paradise and living in apartments. .

“I’m not overly surprised when we see it on the ground with the number of apartments we sell, but to see it as number one in the country – that was a surprise.”

In addition to Surfers Paradise, Southport was also a high-performing venue in Queensland, according to the domain information, after selling only 1,000 units at an average of $ 385,000.

An aerial photo of Surfers Paradise skyline, buildings and beach.
Local real estate industry experts say COVID has led to a large number of holiday homes being sold.(ABC Gold Coast: Dominic Cansdale )

Gold and Sunshine Coasts are still popular

The Gold Coast and Sunshine Coast remain the top performers for sales in the last quarter, according to state-based data, which makes up nine out of ten of the highest-inhabited suburbs.

Caboolture, north of Brisbane, made up the last place.

Similar to the national report, Gold Coast’s Surfers Paradise and Southport were the two best places with the highest property transfers, followed by Sunshine Coasts Maroochydore and Buderim.

Hope Island, Caboolture, Coomera, Pimpama, Robina and Helensvale made up the rest of the state’s largest sales inventory list.

Pexa’s head of research Michael Gill said the numbers often indicate places of high growth and density.

“Queensland was the top performer in the September quarter in terms of sales settlement,” Gill said.

“It was ahead of New South Wales and Victoria, the more populous southern states – so quite rare to see Queensland there.

“There is a lot of interest in the Gold Coast region, which is driven by a number of things; there is obviously a lot of demand within Queensland in these suburbs, but we are also seeing interstate buyers.

“I think given the pandemic, the way it unfolds, as Queensland is one of the states that has most successfully navigated the pandemic, many Victoria buyers are now looking at Queensland.”

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