THE property market is heating up as the winter selling season hits its stride, with new research revealing prospective buyers are looking for a home in the Queensland lifestyle hotspots of Buderim and Surfers Paradise.
Data from PropTrack looking at the most in-demand suburbs in the 12 months to the end of May shows the two coastal suburbs were the second most popular for houses and units in the country.
The data collected suburbs based on how many people clicked the agent’s number on the online listing.
A large number of Gold Coast suburbs recorded high engagement rates with homehunters, with more than 29,000 buyers looking to purchase a house in Helensvale, and more than 25,000 looking to buy in Coomera and Upper Coomera.
But the Sunshine Coast suburb of Buderim topped the list of Queensland suburbs where people were searching for houses, with more than 38,000 engagements over the past 12 months.
With a median house price of $1.1m, the suburb’s popularity has been driven by its lifestyle appeal, and high quality local schools and amenities.
When it comes to units, Surfers Paradise was a standout, with more than 51,000 prospective buyers engaged with listings there.
The median unit price in the glitzy Gold Coast suburb is $580,000, with 1273 sales in the past 12 months, according to PropTrack.
A swag of apartment projects are under construction in the area as developers take advantage of the demand and the infrastructure spending in the lead-up to the Olympic Games.
Other in-demand suburbs based on the most highly engaged people for units listed on realestate.com.au in the past year include Brisbane CBD, Southport, South Brisbane, Broadbeach.
A report by Kollosche found there are a wide variety of apartments on offer in Broadbeach, from one-bedroom units to luxury sky homes in boutique buildings, with price points varying from $400,000 to $5m, making the suburb a magnet for both investors and owner-occupiers.
“However, a national scarcity of housing stock has left few options for those currently seeking buying opportunities in the suburb,” the report said.
“Despite there being more than 6,300 apartments in Broadbeach, listings website realestate.com.au shows less than 500 of them are currently for sale.”
PropTrack economist Anne Flaherty said winter was typically a quieter season for the property market, but auction clearance rates in June were higher than the lows seen late last year, and auction volumes were staying in line with last year’s levels.
“Suburbs seeing the most engagement among those looking to buy a house are typically located in middle and outer metropolitan areas of capital cities,” Ms Flaherty said.
“When it comes to the suburbs seeing the highest level of engagement for units, inner city areas dominate, with the Melbourne, Brisbane, and Adelaide central business districts all making the national top 10.”
MOST POPULAR SUBURBS FOR HOUSES IN QLD
MOST POPULAR SUBURBS FOR UNITS IN QLD
Article source: Queensland Property Investor