PHOTO: Apartments in Surfers Paradise are tipped to be the most exposed to any local downturn.(ABC Gold Coast: Dominic Cansdale)
Queensland’s peak real estate body says the Gold Coast property market may avoid a significant downturn amid the coronavirus pandemic, with predictions of an increase in the number of interstate buyers chasing a sea change.
Chief executive of The Real Estate Institute of Queensland, Antonia Mercorella, said once the health crisis was over Australians would be re-evaluating their lives and looking to locations like the Gold Coast that could offer better affordability.
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“We’re far more affordable than other states,” she said.
“We are probably going to see people thinking, ‘I might just move to the sunshine state — the climate is great, it’s a more relaxed lifestyle, your dollars go a lot further’.
“A number of people will be thinking about perhaps wanting to have a lower mortgage, less financial stress in their lives [and] live an easier life.
“If you think about those factors Queensland actually offers terrific liveability.”
READ MORE VIA ABC
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