Property experts to reveal new market insights at Coast event

first_imgMore renters are choosing beachside suburbs before moving west to buy. Picture: Destination Gold Coast“LIFESTYLE renters” and cashed-up Sydney migrants have driven a 13 per cent surge in people searching to rent or buy on the Gold Coast.While the Coast’s golden beaches first draw in renters, there is a trend in them moving west when it comes time to buy, according to new data from realestate.com.auRenters using the website are particularly interested in moving to Kirra, Bilinga and Merrimac, with the former two suburbs also making the national top 10 most-searched when it came to looking for a home.3/228 Pacific Parade, Bilinga can be rented for $800 per week. The three-bedroom apartment has ocean views.The Coast’s relaxed lifestyle was the biggest driver for renters, according to REA chief economist Nerida Conisbee.“When we look at what buyers want on our site, they want locations close to shopping centres, great schools and public transport, as well as big homes and affordability and you can get that on the Coast,” Ms Conisbee said.Nerida Conisbee REA Group Chief Economist.The affordability of the Gold Coast compared to southern capital cities had also contributed to the continued domination of Sydneysiders (51 per cent of interstate property seekers) looking for Gold Coast property, followed by Melbourne at 22 per cent.The median house price on the Gold Coast grew by almost 8 per cent in 2017 to $615,000.More from news02:37International architect Desmond Brooks selling luxury beach villa19 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“Interest from everywhere has gone up but the one that’s increased the most has been Canberra. Over the last 12 months that number has risen by 40 per cent,” Ms Conisbee said.“Sydney buyers identify strongly, the Gold Coast offers far better pricing than Sydney, you are looking at $3 million median house prices there and here you can buy something amazing for that.42 Bradman Drive, Currumbin Valley is on the market for offers over $830,000. “The factors driving it are the Commonwealth Games, the light rail investment … and a steady supply of development.”But it was Tallebudgera Valley, Tallebudgera and Currumbin Valley that were currently in the highest demand among homebuyers.“Going into the Hinterland where we see the high level of buyer demand, what happens is renters move to the beachside areas but when they want to buy they want a bit more space and land, and affordability plays a part in it too,” Ms Conisbee said.Ms Conisbee is preparing to share her latest insights at property event The Forecast in Surfers Paradise this evening.“The Gold Coast is a region that a lot of people are interested in. We can certainly see it on our site and it’s about providing more education over what people are looking at and seeing what kind of development they want, which is important for the future of our region.”Chef John Watt and his wife Haley Berryman packed up their life in inner-city Melbourne and moved to Mermaid Beach late last year.Melbourne residents make up 22 per cent of interstate property seekers looking for Gold Coast property on realestate.com.au. Picture: David CairdThe couple, in their mid-thirties, said their main motivation was the lifestyle on offer after they holidayed on the Gold Coast, as well as more affordable housing opportunities.They snapped up their lease just before Christmas in a tight rental market — vacancy rates have hit a record 1.1 per cent low.“We are renting an apartment in a 12-unit block and it’s 100 metres to the beach,” said Ms Berryman, who works in marketing.The couple are paying $470 a week for their two-bedroom, two-bathroom Mermaid Beach unit, compared to the $570 a week they were paying for a two-bedroom, one-bathroom house at Fitzroy.“We’ve worked out we’re saving $5000 a year and that is important for us to save a deposit for a house,” Ms Berryman said.“We’ve explored the Coast a bit. Further south looks a little bit more affordable and I’m sure it’s going to grow.”Mr Watt added: “We were looking at places yesterday and we like Tugun, or just past Currumbin.”last_img read more

Liverpool and Dortmund to resume Europa League hostilities

first_imgThe former Spurs and Germany striker has tweeted that the stories are false and he’s not going anywhere. The tie is locked at 1-all meaning Dortmund have to score and their manager says they won’t let the hosts settle.Kick off is at five past eight.Meanwhile, USA manager Jurgen Klinsman has distanced himself from rumours linking him to Everton.last_img