Shift in home ownership
OWNER occupancy between Surfers Paradise and Mermaid Beach is set to increase over the coming years, with the introduction of a new generation of apartments suited to permanent residents.
Colliers International residential director Andrew Roubicek said while dwellings designed for investors had dominated the Coast skyline in recent years, the tide was about to turn.
He said there was already evidence of more Gold Coasters choosing to buy and reside along the central coastal strip, with the latest Census pinpointing Mermaid Beach as the most popular beachside locale with 43.5 per cent of dwellings now owned outright or mortgaged, followed by Broadbeach with 40.7 per cent ownership and Surfers Paradise with 39.9 per cent.
“There has been a scarcity of apartments designed with owner occupiers in mind in recent years, simply because the market was more geared towards investors but that is now starting to change,” he said. Mr Roubicek said while the Coast was still appealing to interstate buyers, he predicted many new owner occupiers would be locals moving from surrounding suburbs.