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These are the suburbs where foreign buyers really want to own Queensland homes

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These are the suburbs where foreign buyers really want to own Queensland homes

It’s not hard to see why so many overseas buyers were keen on Surfers Paradise. Picture: Nigel HalletSource:News Corp Australia

THESE are the suburbs where foreign buyers are most keen to own a slice of Queensland

OVERSEAS based buyers are keen on securing properties in Surfers Paradise more than any other part of Queensland.

New analysis of where foreign buyers search for properties in Queensland is dominated by beachside suburbs and those close to universities.

And while many think that China-based buyers are the group buying up big in our market, it is actually potential buyers from New Zealand who are searching in Queensland more than those from any other country.

In the past six months, there were 29,494 overseas-based buyers who searched for properties in Surfers Paradise on realestate.com.au.

Noosa was also a popular search location for buyers based overseas. Picture: Lachie Millard

Noosa was also a popular search location for buyers based overseas. Picture: Lachie MillardSource:News Corp Australia

The second most popular area was Noosa, which chalked up 19,687 searches followed by Broadbeach with 18,751.

St Lucia, home to the University of Queensland, was the most searched Brisbane suburb with 18,199 searches by overseas buyers in the past six months.

REA Group chief economist Nerida Conisbee said while holiday hot spots were popular, Queensland’s universities had earned a strong reputation and many overseas parents wanted their children to do their study here.

As a result plenty were searching suburbs including St Lucia and Indooroopilly for places for their children to live while they studied.

Ms Conisbee said buying close to good universities was a key criteria for potential buyers from China and Singapore.

“They are very education focused,’’ she said, “while the rest of the world is all looking for Queensland beach suburbs.’’

Ms Conisbee said New Zealanders were particularly keen on searching in beach suburbs and didn’t restrict themselves to the southeast corner.

She said the restrictions on Chinese buyers moving money out of the country had, had an impact on how many were looking at property in Australia, although Queensland had not felt the downturn as much as other states.

Being close to major universities such as the University of Queensland was important to overseas buyers.

Being close to major universities such as the University of Queensland was important to overseas buyers.Source:Supplied

“We have seen a drop off of about 25 per cent nationally,’’ she said.

“What is interesting though is Queensland has been the least affected. In Sydney it dropped about 44 per cent, in southeast Queensland it only dropped off around 10 per cent.

“I don’t know why, maybe Sydney is now considered too expensive, Queensland has been pretty affordable.’’

Ray White Surfers Paradise CEO Andrew Bell was not surprised Surfers Paradise was on the radar of overseas buyer.

He said it had the highest profile of any suburb on the Gold Coast and it was a natural magnet for many overseas tourists.

“I would suggest that when we consider buying it is natural to want to be as close to or part of all of those significant lifestyle choices that happen in central locations,’’ he said.

Mr Bell said it also had a wide variety of property types and price ranges so was appealing to a broad cross section of buyers.

He said there were a lot of new buildings under development at Surfers Paradise which meant it was the easiest buying option for foreign buyers.

Not only because it was easier to get foreign investment approval, but because it could be safely locked up and left when they weren’t in the country

“Most of our foreign purchasers are people who do not move here permanently but simply choose to have a holiday home here,’’ he said.

John Newlands of Professionals Surfers Paradise said the area had all the amenity international travellers and buyers were looking for.

From restaurants and high end hotels to the casino and golf courses plus high end international retailers.

Mr Newlands agreed it was mainly investors and holiday makers buying at Surfers Paradise with not so many overseas based buyers making a permanent move there.

Under Australian legislation foreign persons need to apply for foreign investment approval before buying residential real estate in Australia.

It is generally for newly built properties with an aim of their investment helping to create construction industry jobs.

Since May last year any foreign owner who leaves their property unoccupied for more than six months within a year will be charged an annual vacancy charge.

While foreign buyers are generally not allowed to buy existing properties in Australia those who are temporary residents and need a place to live can purchase as long as they sell the property when they leave Australia.

Temporary residents cannot buy established properties to rent out or for use as a holiday home.

SUBURBS MOST SEARCHED BY FOREIGN BUYERS

Surfers Paradise – 29,494

Noosa Heads – 19,687

Broadbeach – 18,751

St Lucia – 18,199

Southport – 18,134

Mooloolaba – 16,092

Burleigh Heads – 14,765

Indooroopilly – 14,142

Robina – 12,921

New Farm – 12,668

COUNTRY OF ORIGIN

New Zealand

United Kingdom

United States

Hong Kong

Philippines

Canada

Singapore

Japan

China

South Africa

Source: realestate.com.au

Originally published: www.news.com.au

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Market Place

Brisbane’s real estate is leading the nation

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Brisbane's real estate is leading the nation

According to CoreLogic property analysts, Brisbane is leading mainland Australia in all four property performance indicators for the first time in more than a decade. But what does the record increase in home values mean if you’re looking to buy or sell the place you call home? Kieran Clair is the Director of Bricks and Mortar Media, and a regular guest on ABC Radio Brisbane on a Saturday morning. He is chatting with Loretta Ryan.

Source: www.abc.net.au

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Buying a blank canvas for your dream home: 5 big land blocks for under $540k

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Buying a blank canvas for your dream home: 5 big land blocks for under $540k
It’s becoming harder to find big blocks of land in Brisbane’s suburbs. Photo: iStock
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Buyer interest in next-gen suburb

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Buyer interest in next-gen suburb

Each double-storey home features a mix of three-bedroom and three-bedroom-plus-study designs, complete with multi-purpose room, two bathrooms, guest powder room and generous-sized living areas.

EVERTON Hills is earmarked as a ‘next-generation’ suburb, according to developer Sunland Group.
Sunland Group managing director Sahba Abedian said local government designated Everton Hills as a next generation suburb due to its proximity to existing and future retail centres, employment, and community facilities.

Buyer interest in next-gen suburb
The kitchens will feature reconstituted stone benchtops, high-gloss cabinetry, and quality appliances, and flow seamlessly to the indoor living areas

“The arrival of Park Lane later this year, as well as the planned redevelopment of the Woolworths site in Everton Park and North-West Private Hospital, are delivering considerable amenity to The Hills District,” Mr Abedian said.

“Everton Hills also adjoins the 630ha Bunyaville State Forest, renowned for its expansive nature trails and recreation spaces.

“Grovely Train Station is an easy four-minute drive away, with direct services to the Brisbane CBD.”

Located at the centre of this wave of new infrastructure is Sunland Group’s The Hills Residences, which had already seen 50 per cent of residences sold since its April launch.

Mr Abedian said the early sales success of The Hills Residences demonstrated the inherent value of sophisticated architectural design and established amenity.

Buyer interest in next-gen suburb
Bathrooms will feature large porcelain tiles, custom-made vanities, reconstituted stone benchtops, and premium fittings.

“These homes represent the latest evolution of Sunland’s award-winning designs, featuring striking framed facades and expansive landscaping,” he said.

“Each double-storey home features a mix of three-bedroom and three-bedroom-plus-study designs, complete with multi-purpose room, two bathrooms, guest powder room and generous living areas.

“A selection of homes enjoy aspects overlooking the central park and the adjoining nature reserve.”

Mr Abedian said the kitchens would feature reconstituted stone benchtops, high-gloss cabinetry, and quality appliances, and flow seamlessly to the indoor living areas.

While bathrooms would feature large porcelain tiles, custom-made vanities, reconstituted stone benchtops, and premium fittings.

Buyer interest in next-gen suburb
The early sales success of The Hills Residences demonstrated the inherent value of sophisticated architectural design and established amenity.

“One-third of The Hills Residences is dedicated to open space, with a large central park and 3,500sq m of preserved bushland located a short stroll from every home,” he said.

“Early construction works have commenced on site, with the display home on track to be delivered in early 2019.”

Buyer interest in next-gen suburb
One-third of The Hills Residences is dedicated to open space, with a large central park and 3,500sq m of preserved bushland located a short stroll from every home.

Source: www.news-mail.com.au

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