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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: brisbaneinvestor.com.au

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The cotton farmer who made $100k for every month he owned this Gold Coast mansion

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The cotton farmer who made $100k for every month he owned this Gold Coast mansion

This view is why Alan Frost made $5 million on 103-105 Hedges Avenue, Mermaid Beach, in only four years.

More than $20 million in luxury Gold Coast property has sold since the the Commonwealth Games wrapped up on Sunday, including Australia’s most expensive golf course-fronted house and a record $11.6 million Hedges Avenue beach home.

Cashed up locals, a shortage of beachfront trophy homes and a push from interstate buyers have continued to drive prices up on the glitter strip, where property prices outperformed every other region in Queensland last year, growing by nearly 8 per cent.

It’s been nothing but good news for the Gold Coast economy and, in turn, the local property market. Last week it was revealed a $30 billion pipeline of private and public development would be rolled out on the Gold Coast over the next decade, putting paid to criticisms it would suffer a post-Commonwealth Games slowdown.

This week, a slew of high profile homes sold, including a beachfront Hedges Avenue house belonging to retired cotton farmer Alan Frost. The house, which Mr Frost paid $6.5 million for in 2014, fetched $11.6 million.

That’s a staggering $5 million profit for Mr Frost, or just over $100,000 gain for every month he owned it.

Selling agent Michael Kollosche of Kollosche Prestige said the home sold in an off market deal to a family moving interstate from Melbourne.

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
Australia’s most expensive golf course-fronting home: 2230 Arnold Palmer Drive, Sanctuary Cove. Photo: Supplied

“They’ve been holidaying up here for many, many years and have decided to move up here and put their kids into local schools,” he said.

“There’s certainly a lack of this type of stock on the beachfront right now, which is why it was an off market sale — we had to approach people to see if they would consider selling.

“There’s a lot of depth to the Gold Coast’s property market now and along the beachfront, supply is very, very, tight. It’s hard to find people who want to sell.”

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
Agent Matt Gates says discerning golf course-fronting buyers are “all about the aspect”. Photo: Supplied

Earlier this week, a new record was set for Australia’s most expensive golf course-fronted house with the sale of a $6.5 million home at Sanctuary Cove.

Retired corporate executive David Baird and his wife Marion snapped up the four-bedroom contemporary home at Arnold Palmer Driveafter only one inspection, getting in before it was even placed on the market.

They bought it to replace their Paradise Waters weekender, which they recently sold for $8.8 million, Ray White Sanctuary Cove agent Matt Gates said.

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
Just a little luxurious: 31 Buccaneer Court, Surfers Paradise. Photo: Supplied

“Waterfront has always commanded the attention of the trophy home buyer profile but that is changing. In Sanctuary Cove we meet people who can afford to buy whatever they want,” Mr Gates said.

“I don’t think we had to highlight the advantages of the Gold Coast to locals, but the Games would have helped put a spotlight on it for those outside of the coast.”

At Surfers Paradise, Ray White Broadbeach agent Sam Guo sold the landmark residence 31 Buccaneer Court for a street record of nearly $6 million to a local Chinese buyer.

The cotton farmer who made $100k for every month he owned this Gold Coast mansion
A new street record for Buccaneer Court, Surfers Paradise. Photo: Supplied

“There is no doubt that the eyes of the world has been on the Gold Coast lately and people are loving everything that our lifestyle and market has on offer,” he said.

“The Gold Coast has well and truly come of age and it’s great to see such confidence in the luxury market.”

Source: www.domain.com.au

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Market Place

Gold Coast mansion sells for almost $6 million

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Gold Coast mansion sells for almost $6 million

31 Buccaneer Court, Surfers Paradise has sold for close to $6 million.Source:Supplied

ONE of the Gold Coast’s most recognisable waterfront mansions, once dubbed the “Addams Family house” has sold for almost $6 million.

The three-level Surfers Paradise house, previously featured in the Gold Coast Bulletin’s 50 Dream Homes magazine, underwent a multi-million transformation before it hit the market in August, 2017 through an expressions of interest campaign.

Gold Coast mansion sells for almost $6 million A sight to see from the front.Source:Supplied
Gold Coast mansion sells for almost $6 million

From the water.Source:Supplied

Gold Coast mansion sells for almost $6 millionBefore the mega renovation.Source:News Limited

It was listed at $6.95 million in October before dropping to $6.25 million in February.

It’s now under contract for close to $6 million — it’s understood a local Chinese buyer bought the property.

Vendor Pat Worboys bought the mansion with a ‘widows walk’ and sharp spires for $4.025 million in 2014.

Armed with a set of plans and the guidance of her designer Michelle Marsden, she transformed the Victorian property into a dreamy French Chateau in 18 months.

The mother-of-three said she took on the impossible renovation challenge after getting advice from a number of architects.

 Gold Coast mansion sells for almost $6 millionPat Worboys has sold her mansion at Paradise Waters. Picture: Jerad WilliamsSource:News Corp Australia

“We bought it on December 14 and decided to have an ‘Addams Family’ Christmas party before ripping out all the old interiors,” she told the Bulletin at the time.

“I knew it was going to a be a renovation that you had to put all in or nothing.

“We wanted to keep the integrity of the house but create a more liveable space with more light.”

 Gold Coast mansion sells for almost $6 millionUnwind beside the fireplace.Source:Supplied
 Gold Coast mansion sells for almost $6 millionThere is plenty of space here.Source:Supplied
 Gold Coast mansion sells for almost $6 millionLuxury at every turn.Source:Supplied

Sam Guo and Julia Kuo of Ray White Broadbeach handled the sale and described the property as a “landmark residence”.

Inspired by a classic French Chateau, the house has iron balconies, imported french window shutters and a grand staircase.

With an internal lift, the home boasts the finest fittings and fixtures, including imported marble, polished Italian Shivakashi granite, pristine Baltic Oak parquetry floors and a grand staircase.

 Gold Coast mansion sells for almost $6 millionThe kitchen has plenty of space for the entire family.Source:Supplied
 Gold Coast mansion sells for almost $6 millionWelcome to luxury.Source:Supplied

In a rare point position at the end of a cul-de-sac and set out over a sprawling 1102sq m, the property has 180-degree Hinterland and skyline views.

All the bedrooms feature ensuites and walk-in robes, complete with ducted airconditioning and plenty of views.

The renovation included moving the pool, creating an outdoor entertaining space and putting in a balcony on the third level which required a 100m crane.

The house originally belonged to a European couple who built the house in 2000.

 Gold Coast mansion sells for almost $6 millionMake a splash in the pool.Source:Supplied
 Gold Coast mansion sells for almost $6 millionStart entertaining.Source:Supplied

Source: www.news.com.au

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Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

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Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

74-76 The Promenade, Isle Of Capri, will be auctioned off on April 7.Source:Supplied

SELLERS and real estate agents are hoping to leverage off the thousands of visitors flocking to the Gold Coast for the event.

ABOUT 1.5 billion people are turning their eyes to the Gold Coast over the next 10 days, providing a unique opportunity for homeowners to sell their properties.

Dozens of auctions have been scheduled throughout the Commonwealth Games to leverage off the hundreds of thousands of visitors expected to flock to the city.

Despite road closures and plenty of sporting action, sellers and real estate agents are hoping interstate and overseas visitors will attend auctions to secure their own slice of paradise.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
23 Hill Ave, Burleigh Heads, is among one of the first to go to auction throughout the Games on April 7.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
47 Gumtree Crescent, Upper Coomera, will also go under the hammer on April 7.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
This Coolangatta property at 38 South Street will go to auction on April 8.Source:Supplied

Ray White Burleigh Waters sales agent Brent Hodge said its Gold Coast South Network had organised a marketing campaign around the event.

More than 20 properties will go to auction on April 8, which would be held at one location in Tweed Heads – well away from the city’s chaos.

He said they couldn’t guarantee people were going to “come off the aeroplane and buy property” but thought it was worth a try.

Ray White Prestige Gold Coast agents Sam Guo and Julia Kuo have multiple properties set to go under the hammer over the next two weeks.

Mr Guo said sellers didn’t want to miss out on the influx of visitors.

They had been inundated with requests from buyers to market or auction their homes throughout the Games.

“Our clients are hoping they might take advantage of all the interstate (visitors),” Mr Guo said.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

27 Knightsbridge West Parade, Sovereign Islands, will go under the hammer on April 8.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
19 Naples Ave, Isle of Capri, will go to auction on April 14.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
9/17 Marseille Court, Sorrento, will also be auctioned off on April 14.Source:Supplied

He said they were hoping to appeal to those who wanted to explore the city while they were here and were interested in buying.

“I don’t believe everyone will go to see all the games,” Mr Guo said.

However, some agents remained unconvinced that holding auctions during the event would make much of a difference.

Professionals Mermaid Beach managing director Andrew Henderson said they would continue to market properties throughout the games but would hold off on auctions until May.

“We avoided April,” Mr Henderson, who is also the REIQ Gold Coast zone chair, said.

“It’s a great time to promote, we’ve been putting on as much stock as we can.

“I just didn’t think it was the right (time to) do auctions with road closures.”

Professionals Southport sales consultant Andrew Wright considered pushing one of his properties set to go under the hammer on April 8 back.

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
This Mermaid Waters home at 19 Cadence Avenue will go to auction on April 14.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games

32 Emu Court, Sorrento, will go under the hammer on April 15.Source:Supplied

Dozens of Gold Coast homes set to go to auction during the Commonwealth Games
13 Glauca Street, Burleigh Heads, will also go to auction on April 15.Source:Supplied

He was concerned about traffic congestion but said they had already postponed an auction on the property.

“It came into consideration because we were actually thinking of cancelling … but we just decided to proceed,” Mr Wright said.

“Geographically, that place is a long way from the Southport and Cararra hustle and bustle.

“There’s a lot of locals … that are interested (in the property), there may well be some interstate interest as well. But it certainly wasn’t a marketing plan.”

Burleigh Miami Realty principal Neil Pasley would have changed the April 15 auction of one of his properties if it were close to a big Games sporting venue.

He said the owners chose the date based on personal reasons but it didn’t bother him because it was not near a Games precinct.

He didn’t think many visitors would attend.

“Most people will either be at the Games or watching it on TV,” Mr Pasley said.

“If someone is interested, they’re going to come anyway.”

Auctions during the Commonwealth Games:

– 23 Hill Ave, Burleigh Heads (April 7)

– 47 Gumtree Crescent, Upper Coomera (April 7

– 74-76 The Promenade, Isle of Capri (April 7)

– 38 South St, Coolangatta (April 8)

– 27 Knightsbridge Parade West, Sovereign Islands (April 8)

– 19 Naples Ave, Isle of Capri (April 14)

– 9/17 Marseille Court, Sorrento (April 14)

– 19 Cadence Ave, Mermaid Waters (April 14)

– 32 Emu Court, Sorrento (April 15)

– 13 Glauca St, Burleigh Heads (April 15)

Source: www.news.com.au

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