They came, they saw …. they bought!

9 Jul
Sydney-siders Julie and Peter Stubbs celebrate their buy.

Sydney-siders Julie and Peter Stubbs celebrate their buy.

By Lana Wilding, Bond University Journalism Student.

Sydney-siders Julie and Peter Stubbs travelled to Gold Coast for a weekend away and left with a luxury apartment.

The couple admit that the purchase was a whim decision but one that will add to their investment portfolio.

The 25th-storey beachfront property went to auction last weekend at Broadbeach and attracted great interest.

The couple said when they viewed the apartment they fell in love with it.

“When I saw the beach view, I knew I had to have it,” said Peter.

Auction day for the couple was stressful, they said.

“I was so anxious that I even felt a bit sick,” said Julie.

“I didn’t expect to feel like that at all.”

Real estate in Australia is still one of the most popular investment choices but the market has the potential to fluctuate rapidly.

The Sydney real estate market is at risk of a property bubble whereas the Queensland market is still more measured.

CEO of McGrath Estate Agents John McGrath said he is seeing an increasing number of investors from Sydney migrating to Queensland primarily because of its affordability.

Sun Realty Real Estate Agent Clint Wilcox said he the industry could be unpredictable.

“The real estate market currently is very stable but showing signs of activity,” he said.

“The upcoming Commonwealth Games in 2018 is one of the main reasons why the market is so stable at the moment.”

The Games will boost the Gold Coast market as many Asian investors are expected to the area.

This will include the Jupiter’s Casino $345 million face-lift venture that plans to construct a six-star hotel.

“I don’t think there’s anywhere else on the Gold Coast that is being invested in more at the moment,” said Mr Wilcox.

 

 

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