While 2020 has thrown up an unprecedented amount of uncertainty in the real estate industry, one thing that can be relied on is that Queensland is the location of choice for many across the East Coast. Buyer interest in Queensland has risen 18 per cent in the last six months and real estate agents in Queensland have reported an increase in enquiries – all coinciding with the beginning of the coronavirus pandemic.

It’s no secret that Victoria isn’t Australia’s most desirable state at the moment. Having existed under one of the harshest lockdowns in the world for the better part of the year, many Victorians, particularly Melburnians, are turning their sights upon Queensland. They are joined in this search for sun and freedom by some Sydneysiders, too, 

Demand is growing and the appeal is clear: Queensland’s lifestyle and affordability has made the state a more attractive option for those looking to make long-term plans for their futures. Many, especially those looking to upsize, are ready to buy, with money in the bank to purchase their dream home now rather than waiting for the pandemic to ease. Recent weeks have seen buyers spend up to $8.5 million on mansions, paying in cash.

The sustained increased in buyer demand is no doubt creating a seller’s market. Buyers are pouncing on every new opportunity and are having to be more decisive. It is a great time to sell with plenty of interest locally, interstate and overseas. 

This increased demand has made the service of a buyer’s agent more important than ever. When potential buyers in Sydney and Melbourne cannot fly up to view properties in person due to travel restrictions and are essentially buying unseen, a buyer’s agent is paramount to ensuring your money is spent wisely. A buyer’s agent can offer expert insight into both properties and suburbs, and buyers are increasingly putting trust into buyer’s agents to view properties on their behalf. 

It’s not just interstate buyers who are reaping the benefits of using buyer’s agents during this time. For a local buyer, using a buyer’s agent gives greater access to and understanding of the property market, as well as advice and guidance when it comes to negotiations, auctions and offers. These close relationships are key in the buyer’s agent business – a good buyer’s agent should act as the middleman, ensuring that you get the best deal possible for your investment.

With the spring selling season looking to extend well into summer, take the opportunity to get your finances sorted and have a loan pre-approval ready to go so you can map out a clear budget. It is also important to have a good relationship with your mortgage broker and bank for when you are ready to purchase. 

As Queensland becomes increasingly popular with interstate buyers, local buyers should consider buying sooner rather than later, in order to get in before prices rise.

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