Queensland Gold Coast Property Market avoiding coronavirus predictions

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Queensland Gold Coast property market may avoid a predicted downturn due to the coronavirus pandemic with an increase in the number of interstate buyers looking for not only a sea change, but a clean warm healthy change of lifestyle.

Holiday units in Surfers Paradise may be at risk of succumbing to a downturn in rental yield and price reductions, but Townhouse, Villa and Housing in the surrounding suburbs which attract owner occupiers and long-term permanent tenants are far more attractive to an interstate migration from people now living in Melbourne and Sydney as they plan their escape.

This has also seen a shift in the enquiry rate from property investors moving their portfolios from holiday let apartments, to Villa Townhouses because they maintain a long term stable rental yield.

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. "We're far more affordable than other states," she said.

Real Estate Institute of Queensland says Gold Coast real estate offers 'far more affordable' properties for people wanting to reduce their mortgages in the wake of COVID-19

Current data shows the South-East Queensland real estate market is stable.