The lure of sun, sand and sea plus affordable prices and high yields are proving irresistible to prospective buyers.
“Queensland, and particularly southeast Queensland, has always been a popular location for investors, but I think COVID-19 has exacerbated things somewhat,” said Cameron Kusher, director of economic research at PropTrack, reports realestate.com.au.
“Even if people can’t make the permanent move to lifestyle markets, buying a holiday property in one has become a more attractive option.
“Queensland also tends to have much cheaper property prices than Sydney and Melbourne and much higher rental returns so it seems to tick the boxes for investment much more easily.”
This explains why Surfers Paradise units are the most searched for investment property in Australia.
Bargain hunters are also seeking value in Redbank Plains where median house prices are $400,000.
Units in Southport and Brisbane city also cracked the top #5 most searched for by investors.
Mr Kusher cautioned investors looking outside capital cities to consider long term investment fundamentals.
But for now, continued strong rental demand across Australia and continued low interest rates are fuelling investor activity.
Check out the top #10 most searched for suburbs and property types, including median prices and rental yields:
- Surfers Paradise, QLD, Unit, $480,000, 6.17%
- Melbourne, VIC, Unit, $490,000, 4.37%
- Redbank Plains, QLD, House, $400,000, 5.31%
- Southport, QLD, Unit, $442,600, 6.17%
- Brisbane CBD, QLD, Unit, $519,000, 5.27%
- Adelaide, SA, Unit, $435,000, 5.59%
- Broadbeach, QLD, Unit, $670,000, 4.96%
- Maroochydore, QLD, Unit, $590,000, 5.00%
- Wollongong, NSW, Unit, $650,250, 3.94%
- Port Macquarie, NSW, Unit, $535,000, 4.73%