PHOTO: 91-93 The Sovereign Mile, Sovereign Islands, Queensland
While the COVID-19 crisis has hit house prices across the country, there’s one major region where they’ve risen – the Gold Coast.
And experts believe the pandemic is what’s actually caused the healthy 1.5 per cent lift over the June quarter, with so many Sydneysiders and Melburnians taking a long hard look at their lives and deciding the Goldie lifestyle is for them.
The price jump is a clear contrast to other eastern capitals, with Sydney house prices down 2 per cent in three months and Melbourne down 3.5 per cent, according to the latest Domain House Price Report.
“We’ve never before seen so much interstate migration from the southern states,” said Michael Kollosche of property agency Kollosche.
“Maybe it’s the ageing population, but they’re re-evaluating their lives and want to buy because of the lifestyle, the warmer climate, the relative affordability and knowing, as a result of this time, they can still work remotely if they want to.
“High net worth individuals who usually to travel to Europe and Aspen all the time are now coming here for their holidays instead and rediscovering how wonderful the area is. So they’re moving up here or buying second homes on the beachfront or riverfront.”
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