Migration set to drive spring real estate revival

GOLD Coast industry leaders are predicting a super spring revival as interstate migration, new listings and holidaymakers provide a major postpandemic boost.

The forecast comes off the back of a new report that reveals the Gold Coast is Australia’s number one migration hotspot, attracting more new residents than any other destination. The Big Movers: Population Mobility in Australia report, released this week by Regional Australia Institute, found 75,000 people migrated to the Gold Coast between the past two national censuses of 2011 and 2016.

People aged between 20 and 35 accounted for much of that movement, with the city welcoming double the number of Millennials of Newcastle, which was in second spot.

REIQ Gold Coast zone chairman Andrew Henderson said the trend was likely to continue once borders reopened as a wave of remote workers chose the Gold Coast lifestyle.

“If there’s a silver lining (post COVID-19) it’s that people can be effectively out of the office and live somewhere better for their lifestyle,” he said.

“That’s where we may see some big gains toward the end of the year.”

Mr Henderson said September would likely herald a real estate resurgence as sellers and interstate buyers returned to the Gold Coast market.

“Sellers are looking toward listing in those spring months to avoid the stigma of COVID-19,” he said. “Also in springtime, if the borders open up, it’ll help with interstate migration which has, over the last few years, been a huge part of our owner-occupier market.”