The regional city has hosted the most interstate inspections over any other Australian locale, according to new analysis of April data.
Little Hinges is behind Sight Unseen, an analysis of 200,000 virtual inspections over the month of April. The report gives insight into consumer trends towards virtual inspections, painting a picture of the areas most popular with out-of-state and international purchasers.
According to Little Hinges chief executive and co-founder Josh Callaghan, the latest data confirms that the Gold Coast market is the hottest for buyers from interstate, even though “the number of interstate buyers inspecting property around Australia grew in almost every region this month”.
“Only 57.3 per cent of buyers inspecting property on the Gold Coast were locals,” Mr Callaghan flagged.
The city also saw 8.5 per cent of its inspections originating overseas.
“If you compare this with the southern cities like Sydney, 91 per cent of inspections were being conducted by locals,” he said.
Not to be outdone, Brisbane and the Sunshine Coast also proved popular with out-of-state investors.
While 77 per cent of Brisbane buyers hailed from the local area, just 72 per cent said the same of a Sunshine Coast property purchase.
That means nearly three in 10 would-be buyers on the Sunshine Coast don’t reside locally.
Adelaide was another market that has seen huge uptake in virtual inspections, with almost 23 per cent of its inspections coming from outside the region over the month.
Even so, that’s below the national average of 27 per cent of all property inspections coming from interstate – a lift from the 23.8 per cent reported over March.
International inspections are also up at 6.8 per cent, an increase from the 5.3 per cent reported one month earlier.
Mr Callaghan said the findings cement the value of offering virtual and remote inspections.
“While physical open homes service local buyers who can attend, sellers need to consider how they are reaching buyers who are interstate and overseas,” he contended.
“Sellers need to showcase their property to the widest audience of potential buyers. Traditional methods only cater for a local audience, and virtual tours are essential for capturing the significant interstate and international market.”