Mr David Cotton, Co-Principal of Raine & Horne Port Douglas said, “Over the past month cooped up Victorians seeking relief from months of lockdown are desperately leading the charge for properties in Queensland’s tropical north.
“In September we sold four properties sight unseen to buyers from Melbourne. These transactions represent our first sight unseen sales since the real estate boom of 2003.”
The properties which have only recently gone under contract include a 3-bedroom duplex house that sold for $960,000 and a magnificent three-bedroom pavilion home that is under offer for just over $1 million. There is also a superb 5-bedroom 3-bathroom resort-style property that is under offer for around $900,000.
“All the properties are selling for their market prices, which all parties are delighted with,” said Mr Cotton. “The sweet spot for properties selling sight unseen to southern buyers appears to be between $850,000 - $1.2 million.”
“We are even selling some off-the-plan properties sight unseen at a development site called Laughing Waters Apartments. Usually, when selling off-the-plan, buyers like to check out the development sites. However, with lockdowns and border closures, this isn’t possible.”
Luxury two-bedroom apartments within Laughing Waters start from $1.05 million. In September, Raine & Horne Douglas sold a three-bedroom apartment at the site at 49 Macrossan Street for $1.7 million sight unseen to an interstate buyer.
Melbourne buyers chasing the sun
The Victorian buyers are a mix of owner-occupiers anxious to make an immediate move to the sun and sea of Queensland’s magnificent Coral Coast, as well as investors who plan to move to the region once they wind up their affairs down south, according to Mr Cotton.
“Given the Victorians are in lockdown, we’ve used video to provide buyers with virtual tours with a running commentary,” he said.
“The buyers are also employing local pest and building inspections to provide them with the extra assurance the properties will meet their needs.”
While the interstate buyers are making their purchasing decisions sight unseen, they have all visited Port Douglas in the past, noted Mr Cotton.
“All the buyers are familiar with our region as they have been here previously and know what they are looking for in a Port Douglas or Mossman home. They are using our eyes and the eyes of the inspectors to make sure they are securing a suitable property.
“Some of the buyers plan to keep homes in the southern capitals and follow the sun here as the winters take hold in Sydney and Melbourne.”
To find out more about buying a property in Port Douglas. Mossman and surrounding areas contact Raine & Horne Port Douglas on (07) 4087 1800.