Housing market is smiling on downsizers
Thursday, 23 July 2020
The majority of our residents are relying on the sale of their current home to buy their dream retirement lifestyle in The Pavilion North Kirra, so selling at the right time and price is essential. We asked agent Leanne Frohmuller, of LJ Hooker Palm Beach/Coolangatta, if the Covid-19 crisis had led to any changes in the local real estate market and whether now was the time to sell.
Agent Leanne Frohmuller of LJ Hooker Palm Beach/Coolangatta
Leanne has her finger firmly on the pulse of the real estate market on the southern end of the Gold Coast and is keen to assist anyone selling in readiness for a move to The Pavilion, now under construction on Lang Street.
She says, despite the current economic climate, buyer confidence remains largely unchanged on the Gold Coast and, in fact, there is a shortage of properties for sale.
“Considering recent mild downward pressure on home values across the nation, the Gold Coast has held up pretty well, enjoying solid property transaction numbers and strong ongoing buyer inquiry,’’ Leanne says.
“Recently, the number of searches for properties ‘for sale’ on realestate.com.au increased for the 11th consecutive week with a further 3.7 per cent increase, taking ‘for sale’ search volumes to 47.5 per cent higher than they were a year ago. Much of this is a result of low interest rates and high appeal for a coastal lifestyle.
“Post-Covid we’re seeing that confidence translate into more properties gradually coming onto the market, as sellers identify good selling opportunities. Certain segments of our markets are holding their values well, with a shortage of A-grade quality homes and investment properties compared with the number of buyers. This means property values in certain locations are creeping up.
Aerial view of Coolangatta, QLD
“The shortage of good properties on the market is seeing properties selling quickly with minimal discounting. Significant government policy support and the earlier reopening of the economy have meant the various worst-case scenarios of 20-30 per cent price falls that some economists had touted now seem highly unlikely.
“With less reliance on overseas migration as a source of housing demand and the largest number of interstate migrants, the Queensland market may be less exposed to downwards pressure in housing values. At the same time, we’re getting more inquiries from interstate investors than we have for many, many years.
“Liveability, affordability, scale and future economic prospects all suggest the Gold Coast is a market where you can confidently buy. Afterall, it’s one of the world’s great cities!’’
Retirees looking to move into The Pavilion North Kirra can take part in Aura Holdings’ Resident Transfer Program if their family home sells earlier than expected. You will be welcome to temporarily reside in one of our established villages in southeast Queensland while your beachside apartment is under construction at North Kirra. Read more about the Resident Transfer Program here.
If you require any further information about the Gold Coast real estate market, please contact Leanne Frohmuller of LJ Hooker Palm Beach/Coolangatta on 0410 633 180.
If you would like to find out about the retirement living options at The Pavilion North Kirra please call 07 5536 2865 or live@thepavilionnorthkirra.com.au.