Wayne Bisgrove is a specialist in beachfront properties across the Southern Gold Coast, particularly the Coolangatta, Kirra and Rainbow Bay markets. 

During his time in the industry Wayne has been recognised as one of the area’s leading agents with many awards, but he says 10/10 reviews from his clients remain the biggest compliment.

WILLIAMS MEDIA spoke to Wayne Bisgrove about market conditions on the southern Gold Coast while Queensland’s borders are closed.

What are your predictions for the 2020 Gold Coast luxury market with the current restrictions and also moving forward?

I am predicting that the beachfront market on the Southern Gold Coast will remain strong due to an extremely limited supply of apartments hitting the market for sale. Over the last 10 years the buyer demographics have changed and there are more and more retirees purchasing properties to move into, which has in turn stretched the average time in which the properties are being held. Beachfront land is also a finite resource and on our end of the Coast it’s running out fast, which means we are having fewer new developments as well. 

Have you noticed a change since restrictions on open houses and auctions were lifted?

To be honest we never saw a downturn in the market even with the restrictions in place. We still had 7 beachfront properties go under contract during the restrictions, many of which had multiple offers presented. I think we will see more of a change once the border and tourism restrictions are eased. 

unit_801120_marine_parade_coolangatta_qld_4225.jpg

Unit 801/120 Marine Parade Coolangatta QLD 4225 sold by Wayne Bisgrove. Source: REAL Specialists

What advice you would give to vendors for the best outcome?

I think the best advice is to choose an agent that is still achieving results in the current market and that has adapted quickly to the changing climate. Marketing is also key, however you have to really look at what's working at the moment and invest your marketing budget wisely. 

What advice do you give buyers?

It’s all about the individual buyer’s strategy. Most of my retiree clients are making a lifestyle purchase for a long term hold. So if the property is right then they should go after it or they may miss the opportunity. If it's an investor, then naturally they have to make sure the numbers stack up. 

What are your vendors saying?

I think they are impressed with the market conditions at the moment, however they would love to have the borders open and the tourism market at full capacity again as this does create a lot more buyer competition in the market, especially from interstate buyers. 

What are buyers saying? Is the buyer demographic changing?

They have been really happy with their purchases and feel that beachfront property on the Southern Gold Coast is still a really strong investment and a great lifestyle choice. 

A lot of retirees are coming out of Sydney, Melbourne and Brisbane looking for a lifestyle change. We don’t get much overseas interest at our end of the coast, mainly interstate. We used to get a lot of NZ buyers, however now that they have to also pay the foreign investment tax that has slowed down a little. 

Are buyers downsizing/upsizing?

Mainly they are downsizing from their family homes, however once they are on beachfront many existing clients eventually upgrade from two bedrooms to three bedrooms down the track. 

Are they typically looking to buy holiday homes or permanent residential?

It’s a bit of both. Some will start with a 5-year plan to own as an investment unit first and then move in down the track once they get ready to shift to the Gold Coast. 

What is one thing you have learned in your years in the industry?

One thing that I have learned is that consistency in communication to my clients has always been a big part of my success, especially for my interstate clients who like to keep their finger on the pulse with all of the recent sales prices and new listings. 

Similar to this:

REAL: resurgence in buyer confidence as audiences flock to real estate auctions

Luxury by the beachside for the whole family: Real Specialists