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A lockdown surge in Melburnians searching for homes in Queensland is helping drive a price boom for some of the sunshine state’s nicest neighbourhoods.
New realestate.com.au data has revealed twice as many Victorians seeking a home in Queensland this year compared to last.
Melbourne’s well-heeled are largely behind the lift, with the website using mobile phone tower data to pinpoint most increased activity has come from Malvern, Hawthorn, Northcote, Richmond and Brunswick.
Chief economist Nerida Conisbee said there had been a 135 per cent jump this year compared to last in data released yesterday.
“Talk to agents up north, particularly in the Gold Coast and Sunshine Coast, and they are saying they are getting a lot of inquiry,” Ms Conisbee said.
“Even to the extent that there’s talk of people buying sight unseen. And we are seeing it in terms of pricing.”
She said Victorian interest was in part behind home prices surging between 49 and 36 per cent in Minyama and Sunshine Beach, with the pair now boasting respective $1.395m and $1.95m median house prices.
“It’s not purely Victoria, but it’s at least in part driven by interstate activity and we know that a lot of that activity is coming through from Victoria at the moment,” Ms Conisbee said.
“(And) it is very much wealthier parts of Melbourne. We can tell from the mobile phone towers the places it is mostly coming from. And they are coming from expensive suburbs and pushing up pricing in expensive suburbs in Queensland. It’s definitely not first-home buyers looking to head north.”
Surfers Paradise, Noosa and Broadbeach were attracting most of the search activity from Melbourne, but had not seen prices move as much as wealthier areas — a sign buyers were starting their search in a suburb they know then filtering out from there.
Ray White Queensland chief executive Jason Andrew said they were seeing sales inquiries from Victoria “ramping up” from those “sick of the lockdown” with some offices receiving dozens of calls a day.
“It’s a no-brainer that if you are living in Melbourne and have a lot of time to think about your future then naturally Queensland looks attractive,” Mr Andrew said.
“There’s also been more restaurants open and AFL games played in Brisbane this year than there has been in Melbourne – we are open for business and good to go.”
Ray White Caloundra recently sold 10 Mellum Court, Dicky Beach, to a Melbourne couple unable to visit it but determined to relocate.
Melbourne man Anthony Robinson paid $738,000 for the home while living in lockdown.
“One half of our family relocated to the Peregian area about five years ago, so we have been keeping our eye on the market for a little while now,” Mr Robinson said.
“We figured that if something pops up that is worthwhile, we should take the opportunity, which is what we did with this little gem at Dicky Beach.”
Mr Robinson had his father-in-law inspect the property, as well as attending a FaceTime inspection.