New Zealand travel bubble to fuel house price mania

PHOTO: Ray White Queensland CEO Jason Andrew, auctioning a home. He says migrating Kiwis could add more demand to southeast Queensland’s overheated property market. Picture: Mark Cranitch.

Migrating New Zealanders are expected to fuel Queensland’s overheated housing market now that travel across ‘the ditch’ is free-flowing.

Ray White Queensland CEO Jason Andrew expects a potential mini-wave of buyers from New Zealand looking to move to the Sunshine State to create even more demand for homes.

He said it could be a precursor to what will happen to house prices across the nation, let alone Queensland, once international borders reopen.

“There’s no question in our mind that international migration will be the next boom. We are yet to see the true impact of international borders opening and the travel bubble with New Zealand will be a great litmus test,” Mr Andrew said.

“We have started to see a spike in international buyers searching for property on our site.”

Place CEO Damian Hackett said: “we could definitely anticipate a mini-wave of New Zealanders who have been waiting to move to southeast Queensland over the period of the closed borders.”