New Zealanders showing heightened buying interest in luxury new Gold Coast apartments

Property searches from New Zealand on realestate.com.au have surged

New Zealanders showing heightened buying interest in luxury new Gold Coast apartments
New Zealanders showing heightened buying interest in luxury new Gold Coast apartments

Property searches from New Zealand on realestate.com.au have surged to 363,000 monthly views.

Searches from New Zealand have increased by 35 per cent since April, in contrast to the UK and US, which have fallen 26% and 13% respectively.

Searches from China are 12 percent lower than last year and Hong Kong has dropped by 1 percent. 

Overall overseas searches for properties to buy on realestate.com.au dipped in June by 6 per cent.

"NZ on the other hand, is benefitting from the trans-Tasman travel bubble, which opened on the 19th of April 2021, allowing “quarantine free” flights between Australia and NZ," Karen Dellow, data analyst at REA Group noted.

The most popular suburbs searched in the June quarter by overseas property seekers was topped by the Gold Coast, followed the Melbourne CBD, the Brisbane Greater Region, Sydney, and the Sunshine Coast.

New Zealanders showing heightened buying interest in luxury new Gold Coast apartments

The queries from New Zealand have resulted on the Sammut Group has securing New Zealand buyer interest in its recent $110 million in conditional sales in its ultra-luxury Coast project after submitting a development application only four weeks ago.

More than half of the 43 beachfront apartments have been sold, ranging from $3.5 million to $9 million, including a buyer from New Zealand.

Bensons Property Group’s Gold Coast landmark development, Chevron One, is set to become the first luxury tower on Chevron Island on the Gold Coast.

The tower will rise above the new arts and cultural precinct and deliver 236 one, two and three-bedroom apartments designed by international architects Marchese Partners.

The report noted luxury apartment developments across Australia remained in high demand with overseas property seekers

Views to new developments in the past quarter have increased 11 per cent compared to last year. 

The most viewed new developments on realestate.com.au by overseas property seekers includes:

111 Castlereagh, 111 Castlereagh Street, Sydney NSW

Sirius, 2-60 Cumberland Street, The Rocks NSW The Aspire Residences, 299 King Street, Melbourne VIC 443 Queen Street, 443 Queen Street, Brisbane QLD Aspire, 51 Latham Street, Chermside QLD

The most-viewed development, 111 Castlereagh, a luxury development overlooking Hyde Park, was most popular with property seekers in the UK and US.

"The longer borders remain closed, the greater potential there is for these overseas property seekers to choose to purchase in another country," Dallow noted.

The latest ABS data showed there were 36,190 short-term visitor arrivals in May in Australia, with 79% from New Zealand. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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