Buyers look to coastal options
Eyes set firmly on regional hotspots
CAUTIOUS buyers are ditching typical dream holiday home hotspots for Queensland’s more affordable coastal markets in the hope of snagging a beachside bargain.
New research from property portal PropTrack reveals the state’s strongest coastal markets based on buyer demand and price growth and shows the most sought-after coastal suburbs in Queensland are in regional locations in the state’s north.
Cooktown, north of Cairns, tops the list with demand for houses there increasing a whopping 124 per cent in the past year, while inquiries for houses in Cardwell, south of Cairns, have jumped more than 58 per cent in 12 months.
Airlie Beach has also continued to be a popular beachside suburb for a second year in a row, with demand from potential buyers increasing more than nearly 60 per cent.
The Moreton Bay and bayside
regions dominate the list when it comes to demand for houses in Greater Brisbane.
Inquiries for houses in the suburb of Toorbul, around 50km north of Brisbane’s CBD, increased 21 per cent in the past year on the back of a staggering 72 per cent jump in 2021.
Toorbul & District Realty agent Michelle Jones said the sleepy Moreton Bay suburb had “just been discovered”.
“Being one hour north of Brisbane and 45 minutes south of the Sunshine Coast CBD makes it very attractive for those who live either side,” Ms Jones said.
She said the ability to work from home since the pandemic had been a gamechanger for Toorbul.
“In the last 12 months to two years, a lot of people have moved into their holiday homes here to live permanently. Our rent roll reduced by about a third because of investors moving into their homes.
“And why wouldn’t you? Why live in Nundah and work from home when you can live in Toorbul and watch the dolphins play out the front.”
Victoria Point on the bayside has recorded an 89 per cent spike in demand for units in the past year, with the average unit price still affordable at $467,000.
The Gold Coast suburb of Hollywell is also popular among homehunters, with an 87 per cent spike in demand, followed by Scarness in Hervey Bay.
PropTrack economist Angus Moore said Queensland was a standout nationally in terms of demand for beachside properties.