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The Cove, Unit 1, sold under the hammer over the weekend.

When bidding opened at $4.8m for this Noosa apartment, the final price was always going to be eye-watering, especially with half the bidders dialling in from lockdown in Victoria.

A total eight bidders registered to bid on Apartment 1 at Noosa’s prestigious Little Cove, which sold over the weekend after a whopping 38 bids were cast.

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The kitchen of the apartment which sold for a whopping $6.3m.

Agent Nic Hunter from Tom Offermann Real Estate said “the strong opening bid of $4.8m set the pace on the sun-drenched balcony just 30m from Little Cove beach”.

“We had a lot of interest 130 email enquiries and hundreds of phone calls on the property, eight registered bidders on the day, six of whom were very active right up to $6m,” he said.

“From there two basically pitched for the property further and further with bids of $50,000 increments up to the successful Melbourne-based buyer being the last man standing at $6.3m. It was a fantastic response to what is a gloriously positioned property.”

The appeal was “absolutely about the location”, he said.

“That was the number one appeal for all these bidders,” he said. “It was a property that people have been waiting for. for a long time. The successful bidder actually missed out on the sale of the penthouse three years ago.”

Seconds from the beach and a close walk to some of the best features Noosa has to offer.

The ground floor unit in the luxury complex saw two bidders register from the Sunshine Coast, one out of Brisbane, one out of New South Wales and four register out of Melbourne.

“A lot of people are rebooting their thoughts on the next five years with themselves and their extended families, and the lack of opportunities to travel internationally.”

“A lot of people in the high end are looking to find a position in Noosa which ultimately once we clear these COVID-19 restrictions is just three hours from Melbourne door-to-door. Melbourne buyers have always had a strong interest in Noosa and even more so at the moment.”

The apartment was listed as having three bedrooms, three bathrooms and a single garage with “a private garden entrance, no stairs and no close neighbours except for koalas in the eucalypts near the easterly terrace”

At a massive 300sq m, the apartment is the largest in The Cove complex where the resort has 23 luxury holiday apartments, a pool, outdoor entertaining and BBQ facilities for guests.

Property such at Apartment 1 in such a prime position in Noosa came up “very rarely”, Mr Hunter said.

“One thing we noticed in prime spots is a lot of owners repeatedly say to us that they will hand them down to their family. A lot of people are buying for their future generations to enjoy.”

Mr Hunter has five buyers still on the hunt in the $5m price range for Noosa property.

Other bidders were still on the hunt in the $5m price range, he said.

“We’ve got five other cash buyers left over (from the auction) who are seeking a similar quality property and position in Noosa.”

Mr Hunter said the buyers were looking for opportunities that were an easy walk to the water or facilities, no matter whether it was an older or a newer property.

Agency principal Tom Offermann said the sale capped off a strong week for his team where two properties broke the $10m price tag.

He said the Apartment 1 sale “highlights how much confidence there is in the Noosa market, especially when you consider that seven other buyers with over $5 million to invest have walked away empty-handed”.

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Sam Armytage has sold in the Southern Highlands.

Channel 7’s Sunrise presenter Sam Armytage has sold her Southern Highlands weekender.

She has secured a $3.1m off-market buyer for the Burrawang cottage, in a deal well up on her $2.2m purchase price from three years ago.

Armytage also sold her North Bondi home for $3.15m in July, just a month after her June engagement to Richard Lavender, a Quirindi-born equestrian ­businessman.

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It would suggest Armytage intends living with her fiance at his longtime Berrima estate elsewhere in the Highlands. He celebrated his 61st birthday on Saturday with Sam turning 43 on Friday.

It sold for $3.1m.

The property has an open-plan kitchen and dining area.

The couple met at a friend’s 60th birthday party in the Highlands in April last year.

There’d been no development application to the five-bedroom, five-bathroom cottage during her brief ownership, although she did change the name from Pear Tree Cottage to Churchill.

The two-hectare property, which sold through Di Dixon at Belle Property Bowral, has an open-plan kitchen and dining area overlooking paddocks with post and rail fencing.

A relaxing spot.

Armytage is expected to live in Berrima with her fiance Richard Lavender. Picture: Richard Dobson

Her redundant North Bondi home was sold to chef Greg Anderson and his wife Patricia Nunes, who had been looking for a new home since selling their St Ives home for $2.08m.

The three-bedroom North Bondi home had been listed with a $2.8m guide having been bought by Armytage for $2.15m in 2014, just as the Sydney price boom was kicking in to gear.

She owned it for three years.

She has been spotted inspecting eastern suburbs rentals given her commitment to be in Sydney for the breakfast show four days a week. Her television career began in 1999 and she joined Seven after having impressed executives during her coverage of the 2003 Canberra bushfires.

Armytage grew up in the high country, Snowy River territory, on historic Bolaro Station.

With additional reporting by Joel Robinson.

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Victoria’s peak real estate body has been urged to retract its “callous” reaction to the state government’s continued lockdown of the sector, which social advocates say uses tenants as “collateral damage”.

The Real Estate Institute of Victoria responded to the government’s road map for reopening announcement on Sunday by advising its members to “refuse to negotiate rent reductions” with tenants in COVID-19 hardship.

REIV president Leah Calnan said the organisation would instead be advising tenants to “make their own inquiries with Consumer Affairs Victoria”, until the state government engaged in “genuine consultation” with the real estate industry.

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“Good faith” rent reduction agreements have been a key part of protecting tenants from homelessness during the pandemic.

The REIV particularly wants physical inspections of Melbourne homes to be reinstated sooner than the October 26 date advised by government, arguing “without inspections, buying and leasing cannot proceed”.

Ms Calnan said the “disastrous” road map announcement coming just days after Victoria’s moratoriums on evictions and rent price hikes was extended to March 28 was a “double whammy” for the real estate sector.

“This is not about making one party a victim, it’s trying to rebalance the rights for both landlords and tenants,” she said.

Victorian Council of Social Service chief executive Emma King urged the REIV to “retract this misguided, callous and dangerous directive”, as it would increase hardship for tenants.

“Rent reductions and deferrals are a key part of protecting tenants from eviction and homelessness during COVID-19 — a process agreed to by the National Cabinet,” Ms King said.

“That system is reliant on good faith negotiations between tenants and landlords.

“Intentionally undermining this process is a kick in the guts for renters.”

Ms King said it was important landlords understood if they refused to carry out a good faith negotiation with their tenant, they would still be compelled to enter into CAV’s formal dispute resolution.

VCOSS chief executive Emma King is urging the REIV to retract its directive to property managers.

Bricks & Mortar head of property Madeleine Cahill said while she respected the REIV and valued “how they’ve rallied behind” the real estate industry during the pandemic, refusing to negotiate rent reductions would only perpetuate issues within the sector.

“It’s crucial for property managers to conduct themselves professionally (and) advise our clients on all their options,” she said.

“Landlords can make the decision (about rent reductions) for themselves.

“I’ve even had landlords call me to get on the front foot about offering a reduction, knowing the industry their tenants work in and expecting they’re doing it tough, and on the basis their own cash flow is great.”

Landlords are only able to access land tax discounts being offered by the government if they agree to reduce rents for hard-hit tenants.

Consumer Action Law Centre director of policy and campaigns Katherine Temple tweeted on Sunday that Victoria’s tenants “shouldn’t be treated as collateral damage in the fight between landlords and government”.

“Thankfully, the CAV dispute resolution service is available to help sort out these rent reduction negotiations,” she said.

Victoria’s eviction moratorium has been extended into 2021. Source: iStock

And the newly formed Renters And Housing Union described the REIV’s move as “reckless” and “in bad faith”.

RAHU secretary Eirene Tsolidis Noyce urged the government to take “immediate action … to ensure the safety and security of thousands of Victorian renters” by enacting an amnesty on rental payments for tenants with no income due to COVID-19 and penalties for landlords and real estate agents who “infringe upon renters’ rights”. RAHU also wants all rental debts accrued due to the pandemic to be forgiven.

Ms Tsolidis Noyce said renters in severe hardship may even be “forced to skip meals” due to further delays in rent reduction mediation.

The Victorian Government has been contacted for comment.

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samantha.landy@news.com.au

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Dwindling migration is set to drag Australian population growth to a 103-year low with potentially disastrous results for the housing market.

Property research group CoreLogic warned the slowdown would have an impact on construction, rents and off-the-plan apartment sales.

Group head of research Tim Lawless said the construction sector was particularly exposed.

Fewer overseas arrivals would reduce housing demand which in turn would stall new projects, he wrote in CoreLogic’s latest Property Pulse.

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Lower migration could have the added effect of causing a protracted drop in rents within inner city areas considering overseas arrivals normally make up a large share of the tenants.

Falls in rents could also force down prices as there would be fewer investors willing to purchase units they may struggle to tenant.

This would increase “settlement risk” for buyers of units sold off-the-plan – a situation where the value of a property drops below the purchase price in the time it takes to get built.

CoreLogic head of research Tim Lawless.

But Mr Lawless added these impacts would not be evenly spread, with Melbourne and Sydney to be the worst affected.

Nearly 85 per cent of overseas migration last year flowed into capital cities and three quarters of the that movement went to Sydney and Melbourne.

“Overseas migrants are generally centred around the CBD … or transport hubs such as Parramatta in Sydney or Clayton in Melbourne,” Mr Lawless said.

“The impact of the sharp fall in overseas arrivals can already be seen in surging inner city rental advertisements, with rental listings more than doubling across some key inner city unit precincts.

There is a long pipeline of new residential projects within inner Sydney. Picture: John Feder

“The rise in available rental stock in these precincts is already weighing on rental income.

“Every capital city is showing a larger fall in unit rents relative to house rents through the COVID period to-date, with a more significant difference in Melbourne and Sydney.”

Sydney and Melbourne unit rents were down an average of more than 4 per cent since March, Mr Lawless added.

With rents reducing the ability of landlords to service their mortgages, there could be more distressed listings within inner Sydney and Melbourne.

“A higher proportion of (new) units may settle with a valuation lower than the contract price,” Mr Lawless said.

“Many of the aforementioned inner city precincts are toward the end of a surge in new apartment supply …

Lower population growth could result in fewer new projects down the line. Picture: John Fotiadis

“Many of these yet-to-be completed projects will settle while rental vacancies remain high and rents are falling, which may put downward pressure on property values.”

ABS building activity data showed there were more than 50,000 units under construction across NSW at the end of March, and just over 45,000 across Victoria.

Mr Lawless said lower population growth would affect the market for some time.

The outlook for overseas migration remains highly uncertain and dependent on international borders reopening and, potentially, travel agreements being negotiated between countries.

Recent forecasts from Treasury indicated annual population growth across Australia is set to slow from around 1.4 per cent pre-COVID to 0.6 per cent through the 2020/21 financial year.

Inner Melbourne attracts Australia’s highest numbers of new arrivals.

That implied Australia’s annual population growth will reduce from around 350,000 in 2019 to 154,000 over the year ending June 2021 – a reduction of 56 per cent relative to 2019 levels.

This would be the lowest rate of population growth since 1917.

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Fitness guru Kayla Itsines has put her SA home on the market.

All eyes are on fitness guru Kayla Itsines’ jaw-dropping South Australian home, which has been listed for sale just weeks after her shock split from finance Tobi Pearce.

The former couple’s five-bedroom Malvern home was the most viewed property on the market across the state and the second most viewed around the country on realestate.com.au last week.

It is for sale without a price tag through Harris Real Estate agents Henry Gower Tillett and Georgie Todd, who were contacted for comment.

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The property is a character home that’s been updated. Pic: realestate.com.au

Feature fireplaces can be found throughout. Pic: realestate.com.au

It has five bedrooms and four bathrooms. Pic: realestate.com.au

Property records show the character home on a 3193sqm block, which is one of the biggest in Malvern, was built in 1925.

It has been restored to its former glory and modernised inside, with feature fireplaces and decorative fretwork paying homage to its original character.

An open kitchen, family and dining room forms the centrepiece of the home, while there is a formal lounge room and formal dining room.

A pool, tennis court, entertainment pavilion, cellar, home theatre and guest studio are among its standout features.

Property records show Itsines bought the house in 2017. Pic: realestate.com.au

It’s for sale without a price tag. Pic: realestate.com.au

It also has a pool and tennis court. Pic: realestate.com.au

It also has a CCTV security system, built-in surround sound, a phone-controlled video intercom and gated entry.

Best offers for the home will be accepted until noon on September 30, unless it sells before then.

Property records show Itsines bought it in February 2017 for a multimillion-dollar price.

She and Pearce, who share an 18-month-old daughter and long professional history together, are selling it after announcing in August that they had made the “difficult decision” to part ways but would remain good friends.

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AFTER: 1/53 Forbes St, Hawthorne was transformed by attention to detail during the renovation.

Lisa Gamblin renovated and flipped seven units in a complex last year before turning her hand to an even more challenging project, transforming a 100-year-old Queenslander and creating another two luxury homes on site.

The results are astounding, with the first – located at 53 Forbes Street, Hawthorne – snapped up by buyers wanting a luxury inner Brisbane footprint last week.

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She was attracted to the property four years ago when it was listed on realestate.com.au as a home that was “looking for love”, located high enough to have stunning views of the city and Hamilton across the Brisbane river.

BEFORE: 53 Forbes St, Hawthorne was sold as a “Grand Traditional Queenslander featuring living spaces on the upper and lower levels” and “looking for love”.

Lisa Gamblin at the historic Queenslander she renovated at 53 Forbes Street, Hawthorne. Picture: Richard Walker

Apart from being a grand circa 1920s traditional Queenslander with features like high ceilings, polished timber floorboards, stained glass windows and architraves, the property also had an enviable block size at 830sq m – perfect for subdivision and redevelopment.

“This was always going to be a substantial renovation which included completely demolishing the ground floor, raising the home and moving it forward in line with the neighbouring homes in order to capture the incredible city views,” Mrs Gamblin said. “The budget was set around $700,000 with another $50,000 for contingency. All $750,000 was used.”

“The property went unconditional in April 2016, we negotiated a six-month settlement in order to allow time to sell another home I renovated in the same street. We settled this home in September 2016 and planned to live in it for a few years before starting renovations.”

“In the meantime I had renovated a block of seven units in Norman Park. We rented a home in a neighbouring street in July 2019 and I immediately started Forbes St renovations, the home was complete 12 months later and put up for sale. Complicated, there was a lot of moving.”

BEFORE: The sitting room and fireplace were very liveable, though in need of updating.

AFTER: The new-look open plan living and kitchen.

Mrs Gamblin, who has been renovating and building since her early 20s said when she first saw the grand home, she could already imagine how it would be finished.

“I imagined the enormous street presence this beautiful 1920s Queenslander will have when renovated, the city views it would capture when raised and it was also in good condition to live in for a few years before renovations would commence. Being in a medium density character residential, the plan was always to build behind the property as well.”

Post renovation: Making the most of the city skyline.

She said the home really enhanced the streetscape, and the coloured lights of the pool reflected across the white walls and were very eye-catching now.

“I love how proud the Queenslander sits,” she said. “I’ve heard locals go by and say that this is their favourite home in the street. It gives me a sense of accomplishment.”

Her favourite thing in the home was the 100-year-old pine floor which had “beautiful” character flaws that the choice of stain enhanced.

The new kitchen at 53 Forbes Street, Hawthorne.

Light, bright and airy inside the new kitchen, with those historic floorboards holding everything together.

They added ivory Travertine stone around the exterior of the home, Astrawalker tapware, Italian tiles, Ilve appliances, a fireplace, plunge pool “and a couple of wine and bar fridges” adding a more luxurious feel to the home.

The home is set so high on the street that locals gather there to watch the annual Riverfire fireworks. “The new owners will certainly have an envious and a great vantage point.”

Mrs Gamblin is currently in the midst of building out the back of the property at 55 Forbes Street, where two more luxury homes will go.

The plan was to continue a lighter neutral colour scheme, embrace trends, using lighting to set night mood, adding gatehouses to give some depth to the exteriors.

A special jewellery display to make life easier in the master bedroom.

Her tips for anyone wishing to fix and flip property was to “set a realistic budget and a contingency fund. In my first renovation I had unexpected blowouts”.

As well, she said, do a lot of research into your builder, so the work could be effortless like 53 Forbes Street where she used “energetic and proactive builder Dan Hansen from Hans Construct”.

Clean lines in one of the new bathrooms.

A mood board was essential, she said, as well as getting physical examples of product that you plan to use, with Mrs Gamblin using Tailored Home Styling for her listing shots.

“During the renovation, I always wondered who had lived here over the last 100 years and the life stories this house holds. I’ve always imagined who will live here and who will love the home as much I have and as much as the previous owner did who I have gotten to know well. I imagined how a young small family, empty-nesters, someone single or a couple could comfortably make this house their home after it’s sold.”

If the first home at 53 Forbes Street is anything to go by, the next two at 55 Forbes Street will be just as luxurious.

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Ready for a hot summer.

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120 Lancaster Ave, Melrose Park will go to auction later this month.

Sydney’s inflated property prices may make a positive difference for a change.

The proceeds from the September 19 auction of a five-bedroom house on a coveted 855sqm block near the Parramatta River will be going to cancer research.

The late owner Ian Hemming decided to give the home in Melrose Park away as his dying wish and the hope is that the frantic bidding normally associated with Sydney auctions goes to a good cause.

Mr Hemming pledged the money should go to ovarian cancer research. He was reported to have made the decision after finding out it was one of the least funded fields of cancer research.

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There is a price guide of $1.5m for the home on Lancaster Ave but the large block size and rare location on a popular strip could attract a mix of buyers and it may go for higher if the right buyer comes along.

Recent sales in the area have ranged from about $1.5m-$1.75m.

The property is in a coveted position near the water.

Mr Hemming enlisted the help of his neighbour Ros Scott to oversee the sale. She said she didn’t realise until after his death that he planned to donate the entire proceeds to ovarian cancer research.

“He was a really humble, kind-hearted man, and wanted to make a difference,” Ms Scott said.

“When (his) dad passed away some years ago, Ian started talking about what he might do with the house and said he wanted to do something positive … I didn’t know for sure he would donate the whole amount.”

Selling agent Neil Robson of Ray White-Gladesville said it was one auction where the buyers may not mind as much if it sells for a motser.

“Buyers will still come with their usual budgets and I don’t think anyone will want to pay more than they have to but I think people will be a bit more understanding this time,” he said.

Mr Robson said he appreciated the gesture as his mother died from ovarian cancer several years ago.

“This is a great opportunity for me to honour her and do something to give back that raises awareness and funds for ovarian cancer,” Mr Robson.

“It’s a big responsibility and I’m conscious of ensuring that we do the right thing and make sure we can get as much as we can for the charity.”

The late owner Ian Hemming wanted to make a positive difference.

The auction will come on the heels of another charitable real estate transaction in the region.

The owners of an Epping home decided to list their property for auction without a reserve in the hope it would sell for less. The move backfired with the home selling for about $300,000 more than expected so the family made a sizeable charity donation with the money instead.

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The four semis and one freestanding home at 195-203 O’Sullivan Road, Bellevue Hill sold for circa $23m to a developer.

Here’s an inspiring story — a group of five Bellevue Hill homeowners have got together and sold their properties for about $23m to an apartment developer.

Ist City principal Brad Caldwell-Eyles masterminded last week’s sale of the four semis and one freestanding house at 195-203 O’Sullivan Road, which face the golf course.

Caldwell-Eyles estimates the total price paid for amalgamated site that totals 2000sqm was between 20 and 25 per cent more than if the homes had been sold off individually.

“The homeowners are all pretty shrewd people and they knew they had R3 zoning, which allows for medium-density apartments,” Caldwell-Eyles told the Wentworth Courier.

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The purchasers of 195-203 O’Sullivan Road site were Clutch Capital, which is building Dusk apartments at 627 Old South Head Road, Rose Bay (artist’s impression).

He declined to reveal the identity of the homeowners, but property records show they include Neil Webster, Australian distributor for BRIG inflatable boats; Emeritus Professor at the University of Sydney Leo Radom and his psychologist wife, Faye; builder Carlton Bracewell of Bracewell Constructions and Michael Dinte of the Dint golfing family and his wife, Denise.

Denise Dinte is from the famous Cadry rugs family, who are known to have sold land previously to the same developers who purchased this site: Clutch Capital.

Property records show Cadrys owned one of the homes at 627 Old South Head Road, Rose Bay, where Clutch Capital is now building Dusk, a block of nine luxury apartments, which is just three months from completion.

Dusk consists of nine apartments. The O’Sullivan Road site is larger and could accommodate up to 15 apartments.

The 1st City team also put together that deal: an amalgamation of two sites totalling 922 sqm.

The O’Sullivan Road site will accommodate more apartments. It’s estimated 15 units could be built there.

Ist City was also instrumental in the sale of 520-534 Old South Head Road, now the site of the Aristocrat apartment block which is nearing completion.

They also bought a Rose Bay service station and an old Art Deco waterfront block for a developer client that netted its vendors a combined value of $23.5m. They would have sold for about $15m if sold off separately.

Caldwell-Eyles has put together a large number of the east’s highest-profile development sites.

An artist’s impression of Aristocrat, which is nearing completion at 520-534 Old South Head Road, Rose Bay.

“We are the site guys in the east,” Caldwell-Eyles said.

“Not every property or group of properties suit.

“Plainly planning controls for FSR; height and zoning are key.

“It’s not magic — simply maths.

“We have an enormous developer client base and are able to leverage our contacts to maximise our seller’s outcome.

“Our vendor clients are comprehensively educated on the feasibility prior to our offering sites to our database.”

Caldwell-Eyles is about to launch 1700sqm of R3 land in Double Bay.

He expects interest from $14m.

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PROPERTY searches by potential interstate buyers looking to snap up a new home in Tasmania have increased 29 per cent, new data shows.

It comes as local agents report an increase in inquiries from mainlanders keen to relocate to the Apple Isle or invest in their own “bug out” safe haven, free from COVID-19.

Over the past three months, realestate.com.au property search data shows that Hobart continues to attract the most attention, with Hobart City, Sandy Bay and West Hobart the most clicked on suburbs.

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Buyers in Melbourne, which has been under a strict level four lockdown due to outbreaks of COVID-19, have led the charge on Tassie property searches, with six of the top 10 ‘origin of searches’ coming out of the Victorian capital.

Melbourne’s popular Southbank precinct during stage four COVID-19 lockdown. Picture: NCA NewsWire/ David Crosling

Interstate buyers in Brisbane (Inner City and South) and Sydney (City and Inner South; Inner West) are also actively searching for property in Hobart, the data shows.

***

TOP 10 INTERSTATE LOCATIONS (SA4) SEARCHING HOBART PROPERTY

1. Melbourne – Inner

2. Melbourne – Inner South

3. Melbourne – West

4. Sydney – City and Inner South

5. Melbourne – South East

6. Melbourne – Inner East

7. Brisbane Inner City

8. Melbourne – North West

9. Sydney – Inner West

10. Brisbane – South

(Source: Top SA4s where most searches have come from (origin location) in the last three months, realestate.com.au)

***

REA chief economist Nerida Conisbee said they often saw the most interest in the Hobart market coming out of Melbourne.

“I think Melbourne residents identify more with the climate, lifestyle and culture in Hobart than anywhere else,” she said.

“Whereas when you look at somewhere like the Gold Coast, it is people in Sydney who are dominating their property searches.”

17 Sonning Crescent, Sandy Bay is listed for a prices in the $2.5 million range (Charlotte Peterswald for Property)

Ms Conisbee said that while it was too early to tell if those property searches would translate into actual sales, she does believe that there will be some level of population shift, particularly if the pandemic continues to drag on.

Other popular suburbs being searched by potential interstate buyers include Lindisfarne, Howrah, Bellerive, Lenah Valley and Battery Point.

11 Fielding Drive, West Hobart is on the market for offers over $950,000 (Fall Real Estate)

It comes as social demographer Bernard Salt coined a new and emerging demographic in Australia – the VESPAs, Virus Escapees Seeking Provincial Australia.

Mr Salt said regions had, for far too long, lost their youngest and brightest to the big cities but the pandemic had forced many city-dwellers to think differently about where and how they live and work.

“Live in the regions, telecommute, start a business, come up to town as you must, once a week or, better still, once a fortnight. Members of the VESPA movement might well be surprised by the sophistication of regional living as well as the (low) cost,” Mr Salt said.

25 Malunna Road, Lindisfarne, could be yours for $550,000. Harcourts.

Median house sales prices in the Greater Hobart region have seen huge growth over the past five years, up 43.9 per cent, according to the latest REA Market Trends report for August.

That is higher growth than any other capital city in Australia, but the Tasmanian capital still offers a more affordable price point than the bigger cities.

The current median house sales price for Greater Hobart is $508,000 – almost $40,000 less than Greater Brisbane, $232,000 less than Greater Melbourne and a whopping $461,500 less than Greater Sydney.

Sydney traffic after a fire in the Sydney Harbour Tunnel. Picture: 7News

However, Hobart landlords enjoy one of the best rental yields in the nation, a solid 4.81 per cent.

Charlotte Peterswald for Property director Kim Morgan said he was not surprised by the data.

“We have been seeing this trend for six weeks, maybe longer, Last week alone I personally fielded about half a dozen inquiries (from mainland buyers),” he said.

“And I think many of them are expats wanting to come back to Tasmania.”

Mr Morgan said he believed the importance of space and lifestyle were becoming more attractive, with many workers realising they no longer needed to be shackled to a city office.

He said while Victorians were the ones making the most inquiries, he had also taken calls from would-be buyers in Brisbane.

“You always made excuses for living in the populous and congested bigger cities because you felt chained to the office, but now that has changed, so has the priorities,” he said.

“I have sold properties, sight unseen, to people who will be relocating as soon as the borders open … when those borders open I think we will see a surge of people wanting to relocate to a better place.”

Mr Morgan said Tasmania saw a ”modest” population shift when the NBN was rolled out across the state, with people relocating and working from the state, often with their employment still in the big cities.

He said with more workers unshackled from their traditional offices, and able to work remotely, that trend was expected to be amplified.

Matthew Pollock with partner Lauren Daley and son Henry 8 months who moved from interstate around a year ago and have now bought a house in Hobart. Picture: NIKKI DAVIS-JONES

Real Estate Institute of Tasmania president Mandy Welling said the Tasmanian housing market often boomed after major global events.

“After 9/11 and the Global Financial Crisis, when things calmed down a bit, our property market went crazy,” she said.

“The biggest concern is that we are already dealing with a massive supply and demand issue and I think there is a high chance that when the borders are relaxed we will see a massive influx of interstate buyers.

“And if prices start to take off again, people will fear they will miss out.”

***

TOP 10 SUBURBS BEING SEARCHED BY INTERSTATE BUYERS/MEDIAN HOUSE PRICE

1. Hobart $745,500

2. Sandy Bay $943,000

3. West Hobart $730,000

4. South Hobart $641,000

5. Lindisfarne $602,500

6. Howrah $570,000

7. North Hobart $608,000

8. Bellerive $700,000

9. Lenah Valley $625,000

10. Battery Point $1.375 million

(Source: Top 10 most searched suburbs from out of state in the last three months, realestate.com.au)

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