Buying site unseen is fast becoming the new norm for southern buyers.
Today’s border closure is unlikely to deter tech-savvy southern buyers who are turning to the Gold Coast as a safe haven during the COVID-19 crisis.
Agents across the city are reporting a surge in transactions made sight unseen by buyers interstate, with no signs of slowing down.
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The Gold Coast residential real estate sector continues to perform.
Ray White Surfers Paradise Group chief executive Andrew Bell said the COVID crisis had made the Gold Coast more attractive than ever.
“With the outbreaks in Melbourne and NSW doing all it can to keep things under control, for people down south the Gold Coast looks like a safe haven,” Mr Bell said.
While the border closure would restrict the ease of doing business, Mr Bell said buyers had become more confident making virtual transactions.
“The weekend before last we sold nine properties to people in Sydney, ACT and Melbourne who bought sight unseen,” he said.
“With the greater use of technology, people are not prevented from buying.”
Holiday accomodation provides may feel the pinch of fewer tourists travelling over the border. Photo Matt Roberts/Getty Images
Five of the nine parties bidding on a Broadbbeach apartment on Wednesday were from Sydney and Melbourne.
“Four of them hadn’t viewed the property personally but had done a private FaceTime inspection and were more than happy to proceed on that basis,” said Harcourts Coastal agent Tolemy Stevens.
“If you take that back to the numbers two or three months ago, the trend is doubling, if not tripling, with buyers in the marketplace happy to do business via FaceTime.”
Holiday rentals may feel the pinch
While the residential real estate sector is in a strong position to weather the border blockade, holiday accommodation providers may bear the brunt.
“Hospitality and holiday rentals will feel the majority of the impact,” said Andrew Henderson, Real Estate Industry of Queensland Gold Coast zone chair.
“If the border isn’t open for the next school holidays, it could really hurt a lot of operators.”
Mr Henderson said Queenslanders had “taken up the baton” to support tourism by booking holidays within the Sunshine State.
The weather, beaches and property prices are attractive to southern buyers. Photo: NCA NewsWire / Steve Holland
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