![]() Ms Frizelle said higher interest rates were driving owners to seek higher rental returns. ![]() “Of course, with this has come many housing challenges for both renters, home buyers and homelessness, which has impacted housing and rental affordability, and the Gold Coast has also become a prime destination for short-term and holiday accommodation.” Erosion of landlord rights Hayden Groves, President, REIA, spoke of 85,000 interstate migrants that chose Queensland as their destination during the pandemic. How to house the south Queensland city’s growing population and address issues confronting property seekers, owners and investors were on the Real Estate Institute of Australia (REIA) National Roundtable: Gold Coast Housing Challenges agenda on Tuesday (30 May). “If I told you how many international people viewed that one bedroom apartment, just the seven or eight groups I personally spoke to, there were four Brazilian couples, a Korean couple, Japanese or Chinese also, and then a Kiwi couple and two or three interstate Australians, and a lot of them are the kind of backpackers we saw three or four years ago, and they work in the food industry or travel Australia doing fruit picking and things like that, so there’s definitely a lot more international people about,” Ms Frizelle said. The median unit rent on the Gold Coast is $741, while for houses it is $1,073, according to SQM Research, up between 10 and 15 per cent over a year depending on property type. “I showed a one-bedroom unit days ago in a six-year-old building in Broadbeach in a really good location, but without ocean views, looked northwest over the casino and river and we had 30 groups through for that $570 per week apartment,” Debbie Frizelle, Principal at Raine & Horne Broadbeach, told Australian Property Investor Magazine. Debbie Frizelle, Principal, Raine & Horne Broadbeach
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