Gold Coast

Australian expats to drive the next Gold Coast property market boom

PHOTO: Repatriated fitness model Tasha Hunter is renting in Brisbane after coming back from the US and is considering buying on the Gold Coast. Photographer: Liam Kidston. Source: News Corp Australia

COVID-weary expats are driving the Coast’s next property boom, with the region Australia’s top pick for international buyers desperate to flee pandemic hotspots for the Sunshine State.

The Gold Coast was the most searched region of 2020, with most activity coming from New Zealand, the US and the UK, according to data from realestate.com.au.

The Insights Report by REA Group analysed overseas searches for property across Australia, with COVID-19 lockdowns, border closures, the US election and civil unrest all fuelling a spike in activity from returning expats and offshore buyers.

The Gold Coast and Surfers Paradise in particular is one of the most popular spots in regional Australia among international buyers and returning expats.

The Gold Coast and Surfers Paradise in particular is one of the most popular spots in regional Australia among international buyers and returning expats. Source: Supplied

Holiday hotspots Surfers Paradise, Burleigh Heads and Broadbeach were the most searched suburbs, with “Gold Coast, QLD” the most popular search term, accounting for 7 per cent of all overseas inquiry on the leading listings website.

Other suburbs piquing interest were Hope Island, where residential real estate is free from foreign investment restrictions, and multicultural Southport.

Harcourts Coastal sales director Rob Forde said the Gold Coast arm of the multinational agency was working closely with international counterparts to source property for buyers, particularly from New Zealand and the US.

“We’ve seen a big uptick in expat numbers,” Mr Forde said.

READ MORE VIA NEWS.COM.AU

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