THE Gold Coast has emerged as a number one way of life mecca in accordance with a brand new report charting the nationwide shift in property preferences off the again of the COVID-19 disaster.
The pattern in direction of distant working has allowed many Australians to maneuver away from capital cities resulting in inhabitants development and worth rises in key areas throughout the nation.
REA Insights Regional Australia Report identifies way of life as the primary drawcard on the Gold Coast, with search exercise on property listings web site realestate.com.au displaying a spike in demand for beachside suburbs.
“Gold Coast has all the time been a highly regarded space for patrons and COVID-19 has accelerated this curiosity,” mentioned REA Chief Economist Nerida Conisbee.
“The mix of individuals working remotely, so that they’re not tied to a capital metropolis, and in addition trying to find more room and a greater way of life is basically driving folks to the Gold Coast.”
Tugun emerged as Queensland’s hottest suburb by search between April and September, with every property itemizing seen 7137 instances on common adopted by Burleigh Heads with 6363 views.
Among the many most-viewed properties in Queensland this 12 months is the epic four-level household residence of Madonna and Tim Delaney, which overlooks the seashore from Pacific Parade in Tugun.
Listed for provide over $10 million, the jawdropping home additionally featured in The Courier-Mail’s list of Top 50 Queensland homes final month.
“The market on the southern seashores might solely be mentioned to be within the midst of a growth prefer it has by no means seen earlier than,” mentioned Mrs Delaney, who sells actual property within the space.
“Listings are very restricted and, with a lot demand, the costs in suburbs comparable to Currumbin and Tugun are actually skyrocketing.”
Gold Coast home costs rose by 3 per cent within the three months to September to a median of $700,000, fuelled by locals trying to improve and a sudden rise in interstate curiosity.
Put up-COVID migration comes on high of regular inhabitants development on the Gold Coast the place the resident base elevated by 12.6 per cent to 636,117 folks over the 5 years to 2019.
Gold Coast Mayor Tom Tate mentioned the Metropolis Plan was at present underneath evaluation in gentle of a rising inhabitants base.
“We’re additionally planning for infrastructure and transport initiatives, however what folks could not realise is that we’re additionally investing in group infrastructure – parks, libraries and sporting hubs,” he mentioned.
“That is to make sure that whereas we’ve the inhabitants development we may also protect our way of life.”