While the auction will feature a number of recently completed projects in the coastal Queensland suburbs of Wynnum and Manly, those bidding won't be anywhere near the townhouses or units on offer with the auction to be held in Sydney at the upcoming Property Buyer Expo.
Holding an auction the best part of 1000km from where the properties on offer stand may seem unusual, but RE/MAX, the Queensland based real estate firm who is facillitating the process as well as using it to launch it's project marketing arm which will market Queensland real esate to investors nation-wide, said it makes perfect sense.
“In recent months we have noticed a significant shift in investor enquiry coming from Sydney and other interstate areas interested in Bayside and the greater Brisbane region. The idea of launching the project marketing company has been in the pipeline for over two years following demand from developers requiring a platform to launch off the plan projects,” RE/MAX Advantage Project Marketing director and RE/MAX franchise owner Tandi Gill said.
“It made sense to officially launch the new business in Sydney due to its heated market in parts and interest in south east Queensland from Sydney investors. Thousands of investors will be present at the expo, providing the perfect vehicle to showcase what southeast Queensland has to offer,” she said.
Gill said south east Queensland regions such as the Sunshine Coast, the Gold Coast, Brisbane and Toowoomba are at the beginning of a “definite spike” in interest from investors.
“We feel this is just the beginning and we expect it to continue, especially while property prices remain relatively stable in Brisbane,” she said.
“We’re expecting continued interest from interstate investors and perhaps more interest from overseas investors as well.”
Brisbane in particular has become a popular destination for investors from across the country, and Gill said popularity is growing due to affordability and other factors.
“There’s almost a 40% gap between the median house price in Sydney and Brisbane, which is the biggest gap since 2001 or 2002, and that's making Brisbane prices very attractive to southern investors.
“Brisbane is also a very liveable city with a lot to offer and that is also helping.”
Gill said RE/MAX believed the live auction at the expo will be a success, despite the distance between potential buyers and the properties.
“We are hopeful it will be well received, especially from buyers seeking brand new properties and the tax advantages they have and from people like foreign investors who are required by investment rules to buy a new property.
“We understand there may be some reluctance, but we will try and educate buyers in the days before the auctions and if they really want to visit between now and the auction they can.”
The Property Buyer Expo takes place from 30 October until 1 November at the Sydney Showgrounds in Homebush. Come say hi to the YIP team at the Expo and hear from some of the best minds in property. Get your free tickets by entering the code YIPPBE when you register at www.propertybuyerexpo.com.au.
