With interstate and international investors eyeing the Brisbane property market, one of the city’s top offices has implemented a series of procedures to make the most of the investor boom.
LJ Hooker Sunnybank Hills, Brisbane’s number one ranked office in the Real Estate Business Top 50 Sales Offices, has noticed an influx of foreign and interstate investors.
“It definitely is happening,” said Alex Stevenson, manager of project sales division.
“Even going back to as recent as early December, and just before Christmas, there was no enquiry for any of my stock. But now we’re consistently getting three to four enquiries per project per week, with a large percentage of those coming from the southern states.
“It’s popular because it’s much cheaper, especially when compared to Sydney. There’s a bit of an expectation that Brisbane follows those cities in the property market.”
Speaking with Residential Property Manager, BDM at LJ Hooker Sunnybank Hills Kate Bailey said while the office is no stranger to these types of investors, their increasing numbers require a greater focus for the office.
“Interstate and international investors certainly aren’t new to us, but we’re definitely seeing it pick up across the board,” Ms Bailey said.
“To promote this a lot of our marketing for our sales goes into international sites in Hong Kong and Chinese newspapers, which helps work us into the investor market.
"Within Australia, a lot of the investors I’m dealing with at the moment are coming from Victoria. The gentleman I signed up yesterday is from Melbourne, and he just said it’s the sale prices. It stacks up so well that they’d be crazy to buy in Victoria when they can buy here in Brisbane.”
Due to the high volume of international and interstate landlords, Ms Bailey said a few changes have been made to cater for them.
“We’re a paperless system and a lot of investors find that to be very helpful because everything is done by email or SMS. Most of the property managers here also have Viber on their mobile phone, which allows them to communicate with landlords for free, which they appreciate," she said.
“We also do inspections with iPads and take plenty of photos so they can see if the property is being taken care of.”