New Arrivals Fuel Growth
July 8 2022
More people are leaving cities for a new life in the regions and the Gold Coast is top of the hitlist for those seeking space, lifestyle and amenities.
New data from the Regional Movers Index found the number of people moving to regional areas rose by 16.6% to reach a five-year high in the March quarter.
The Gold Coast attracted 11% of those leaving city life behind, making the Glitter Strip the most favoured destination among regional migrants in the country.
And it’s not just sand, surf and sun luring people here – the research shows city dwellers want more space, time, better amenities, more affordable housing, and better jobs.
Millennials led the charge towards regional Australia – half of those making the city-to-region switch in March were aged 24 to 40 – while those aged 40-56 accounted for 18%.
The flow of new residents into the Gold Coast is a major factor driving continued price growth and low stock levels as newcomers and locals vie for available housing.
Quality houses and spacious three-plus bedroom apartments are in high demand, with premium prices being achieved for those that are positioned and presented correctly.
Jamie Harrison tied up $15,088,000 in sales on the Tugun beachfront last week where a block of five apartments at 349 Golden Four Drive sold separately for a total of $8,088,000, while a brand-new beachfront house at 349a sold off-market.
Last Sunday a local buyer paid $4,710,000 at auction for 15 Bal Harbour, Broadbeach Waters where a stylish mid-century modern house faces north-east to water on a point position. The marketing was led by Michael Kollosche, Jay Helprin, Sam Guo and Julia Kuo.
A full-floor apartment opposite the beach at 1/142 Marine Parade, Miami attracted a pre-auction offer of $4,000,000 from a local buyer, which was enough for Eoghan Murphy and Michael Kollosche to call off the auction.
William Sarti, Sam Guo and Julia Kuo handled the marketing of a five-bedroom residence at 1664 Riverdale Drive in Rosebank Estate, Hope Island Resort which sold to a local buyer for $3,800,000 on Monday.
As we move through winter, some homeowners are realising the advantages of selling while stock levels are low and competition from interstate remains.
Reach out to Kollosche to find out how to showcase your prestige property asset to local, interstate and expat buyers when you next go to market.