The Qld region where interstate buyer interest soared 30 per cent

The number of potential buyers who virtually inspected properties in southeast Queensland soared during the festive season, with one region seeing a huge increase in interstate and overseas activity.

The number of potential buyers who virtually inspected properties in southeast Queensland soared during the festive season, with one region in particular seeing a huge increase in interstate activity.

The latest Sight Unseen report by virtual tours platform Little Hinges shows that the number of people virtually viewing properties on the Sunshine Coast soared to 63.4 per cent in December, a staggering 30 per cent more than in November.

MORE NEWS: Gina Rinehart executive lands $23.25m in just two years

First time in 50 years: Noosa cottage sells for eye-watering price

Inside the Qld trophy home that has footy players scrumming for a win

An aerial image of the Sunshine Coast, which remains hot property for interstate buyers

That is well above the national average of 29.4 per cent suggesting that the appetite for property on the Sunshine Coast remains strong.

Little Hinges CMO Mike York said the Sunshine Coast “has taken the mantle from the Gold Coast” to lead the country in the number of digital inspections that are undertaken outside the region.

“The last two years have seen buyers change the way they purchase property, as well as where they want to live,” he said.

“There’s been a push away from city centres to the regions, which is reflected in the high percentage of digital inspections we’re seeing from NSW and Victoria on properties located on the Sunshine Coast.

“The ability to work from anywhere, the appeal of a sea change, and a considerably higher cost of living in the cities has forced buyers to consider other options.”

MORE: Qld’s cheapest and most expensive streets to live revealed

This Noosa Heads house recently sold for $23.25m in just five days. It was sold by Rebecca Offermann of Tom Offermann Real Estate. Source: Tom Offermann Real Estate

The data, according to Little Hinges, is supported by research from the Regional Australia Institute, which says that the Sunshine Coast now accounts for the largest share of total net population flow from capital cities to regional Australia at 37 per cent, significantly more than regional NSW (26%) or Victoria (23%).

The analysis of over 300,000 virtual inspections nationally in December found that the Gold Coast had the second highest amount of interstate virtual inspections in the nation – 42.4 per cent but had the highest amount of overseas inspections at 8.3 per cent.

The Gold Coast remains a favourite.

The Sunshine Coast had 6.7 per cent, behind Perth at 6.9 per cent, followed by Brisbane, which had 20.1 per cent (interstate) and 5.6 per cent (overseas).

By comparison, Sydney had 11.9 per cent and 5.3 per cent respectively, while Melbourne had 20.4 per cent and 3.2 per cent.

On the Sunshine Coast, over 60 per cent of buyers looking to purchase (63.4%) are inspecting from interstate, while on the Gold Coast, local buyers (57.6%) still outweigh interstate buyers (42.4%).

144 Tallebudgera Drive, Palm Beach, is a hit with Qld footy players

In Brisbane, the number of potential buyers virtually inspecting properties was also up slightly, with one in five now looking to buy in the River City from interstate.

Overseas buyers on the hunt for their Queensland home in the sun were predominantly from New Zealand, the UK and the US, according to the report.

In his December blog, Tom Offermann of Tom Offermann Real Estate, which has handled some of the Sunshine Coast’s biggest sales, the prestige agent said there were an “unprecedented” 23 sales over $10 million in the region during 2022, with an average price of $17.27 million.

“Our company negotiated 18 of these, and two were private sales,” he wrote.

Mr Offermann said they had millions of viewers on their You Tube alone.

“Interstate inquiry is still solid,” he said.

“The interest in enerally comes from Queensland but at the northern end in Noosa, that interest is mainly spread across the eastern states, with a smattering from Western Australia, NT and South Australia.

“Overseas inquiry is mostly from expats.”

The latest REA Market Trends Report (January 2023) double-digit price growth across many Sunshine Coast suburbs last year.

Simon Pressley of Propertyology also predicts that the Sunshine Coast will continue to perform above “the national norm”.

n his 2023 Property Market Outlook, he tipped that regional hotspots would be the star performers.

“Those that think work from home will be just a short-term fad are seriously delusional,” he said.