7 September 2020 | realestate.com.au
PROPERTY searches by potential interstate buyers looking to snap up a new home in Tasmania have increased 29 per cent, new data shows.
It comes as local agents report an increase in inquiries from mainlanders keen to relocate to the Apple Isle or invest in their own “bug out” safe haven, free from COVID-19.
Over the past three months, realestate.com.au property search data shows that Hobart continues to attract the most attention, with Hobart City, Sandy Bay and West Hobart the most clicked on suburbs.
Buyers in Melbourne, which has been under a strict level four lockdown due to outbreaks of COVID-19, have led the charge on Tassie property searches, with six of the top 10 ‘origin of searches’ coming out of the Victorian capital.
Interstate buyers in Brisbane (Inner City and South) and Sydney (City and Inner South; Inner West) are also actively searching for property in Hobart, the data shows.
TOP 10 INTERSTATE LOCATIONS (SA4) SEARCHING HOBART PROPERTY
1. Melbourne – Inner
2. Melbourne – Inner South
3. Melbourne – West
4. Sydney – City and Inner South
5. Melbourne – South East
6. Melbourne – Inner East
7. Brisbane Inner City
8. Melbourne – North West
9. Sydney – Inner West
10. Brisbane – South
(Source: Top SA4s where most searches have come from (origin location) in the last three months, realestate.com.au)
REA chief economist Nerida Conisbee said they often saw the most interest in the Hobart market coming out of Melbourne.
“I think Melbourne residents identify more with the climate, lifestyle and culture in Hobart than anywhere else,” she said.
“Whereas when you look at somewhere like the Gold Coast, it is people in Sydney who are dominating their property searches.”
Ms Conisbee said that while it was too early to tell if those property searches would translate into actual sales, she does believe that there will be some level of population shift, particularly if the pandemic continues to drag on.
Other popular suburbs being searched by potential interstate buyers include Lindisfarne, Howrah, Bellerive, Lenah Valley and Battery Point.
It comes as social demographer Bernard Salt coined a new and emerging demographic in Australia – the VESPAs, Virus Escapees Seeking Provincial Australia.
Mr Salt said regions had, for far too long, lost their youngest and brightest to the big cities but the pandemic had forced many city-dwellers to think differently about where and how they live and work.
“Live in the regions, telecommute, start a business, come up to town as you must, once a week or, better still, once a fortnight. Members of the VESPA movement might well be surprised by the sophistication of regional living as well as the (low) cost,” Mr Salt said.
Median house sales prices in the Greater Hobart region have seen huge growth over the past five years, up 43.9 per cent, according to the latest REA Market Trends report for August.
That is higher growth than any other capital city in Australia, but the Tasmanian capital still offers a more affordable price point than the bigger cities.
The current median house sales price for Greater Hobart is $508,000 – almost $40,000 less than Greater Brisbane, $232,000 less than Greater Melbourne and a whopping $461,500 less than Greater Sydney.
However, Hobart landlords enjoy one of the best rental yields in the nation, a solid 4.81 per cent.
Charlotte Peterswald for Property director Kim Morgan said he was not surprised by the data.
“We have been seeing this trend for six weeks, maybe longer, Last week alone I personally fielded about half a dozen inquiries (from mainland buyers),” he said.
“And I think many of them are expats wanting to come back to Tasmania.”
Mr Morgan said he believed the importance of space and lifestyle were becoming more attractive, with many workers realising they no longer needed to be shackled to a city office.
He said while Victorians were the ones making the most inquiries, he had also taken calls from would-be buyers in Brisbane.
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About Traders in Purple
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All reasonable care has been taken in the preparation of this website and the information made available through this website is believed, but is neither guaranteed nor warranted, to be correct. Content has been prepared prior to commencement of construction. Photographs and artists impressions depicting the interiors and exteriors are indicative and subject to change without notice. Future stages of the Kings Quarter development including retail, commercial, entertainment stages are not yet finalised and are subject to future design development and planning approvals. The design and landscaping of Kingston Park is the responsibility of Kingborough Council and the timing for delivery and access is entirely within the control of Kingborough Council. Prospective purchasers must rely on their own enquiries in relation to all content on this website which is not an offer or contract. It is strongly advised that prospective purchasers obtain their own advice (including but not limited to legal and financial advice) before entering into a contract of sale.
Traders In Purple Kings Quarter Referral Program - Terms and Conditions
1.0 Under Traders In Purple Referral Program (Referral Program), Kings Quarter purchasers may be eligible to receive a Referral Reward.
If you have any questions regarding the Traders In Purple Referral Program, please contact our team at email@example.com.
2.0 Who is an eligible Kings Quarter purchaser?
Any company or individual over the age of 18 named as a purchaser under a Sales Contract for Kings Quarter, whether purchasing solely or jointly is eligible to receive a Referral Reward.
3.0 Acceptance of terms and conditions
By claiming or accepting any Benefit under the Referral Program, the Kings Quarter purchaser confirms that it accepts these terms and conditions.
4.0 Referral Reward
King Quarter purchasers are entitled to receive a referral reward to the value of $2,000 when they introduce a new buyer to Kings Quarter in accordance with these terms and conditions.
5.0 Pre-conditions to receipt of the Referral Reward
Each of the following conditions must be satisfied for a Kings Quarter purchaser to be entitled to a Referral Reward:(a) the referring Kings Quarter purchaser (Referrer) must: (i) have entered into an unconditional Sales Contract with Traders In Purple and not be in breach of the Sales Contract;
(b) the referred purchaser (Referred Purchaser) must:(i) be an individual or company;
6.0 Only one Referral Reward is payable on each Sales Contract.
7.0 Multiple Referral Rewards
There is no cap on the amount, or number of, Referral Rewards that a Kings Quarter purchaser may be paid for referring new purchasers to Traders In Purple. However, the Referral Reward is only available on the first Sales Contract entered into by the Referred Purchaser and not on any subsequent purchases by the Referred Purchaser.
8.0 Payment of Referral Reward
The Referral Reward will be paid to the Referrer within 10 Business Days of the Referred Purchaser’s Sales Contract becoming fully unconditional. If the Referrer is a company, the referral reward will be paid to one person that the authorised representative of the company nominates in writing.
Despite any other term or condition, no Referral Reward is payable:
(a) to an Agent or Agent’s Associate, when the referral is made in relation to a property:
(b) for which an Agent is entitled to a sales commission or other similar payment.
10.0 Termination and breach of Sales Contract
If a Sales Contract is brought to an end before settlement for any reason or the Kings Quarter purchaser breaches or defaults under a Sales Contract, the contract will no longer be a Sales Contract and the Kings Quarter purchaser cannot rely on it for the purpose of receiving Benefits under the Referral Program
This applies, for example, when the contract has been terminated before settlement, or when the purchaser is no longer a purchaser under the contract either through nominating or assigning to an alternative purchaser.
11.0 Traders In Purple may, in its discretion, notify King Quarter purchasers from time to time of additional Benefits offered to Kings Quarter purchasers by Traders In Purple or third parties.
12.0 Each Benefit may have specific terms and conditions applicable, including a limited period or availability for that Benefit.
King Quarter purchasers must not:(a). act in any way that breaches these terms and conditions;
14.0 Kings Quarter purchasers agree to provide Traders In Purple with Personal Information in order to participate in the Referral Program, and to keep that information up to date. If a Kings Quarter purchaser does not provide or update the Personal Information required by Traders In Purple, the Referrer acknowledges that it may not be entitled to receive Benefits under the Referral Program.
15.0 Traders In Purple may send electronic communications to the Kings Quarter purchaser regarding third party offers, products and services available as part of the Referral Program. Kings Quarter purchasers can unsubscribe from such electronic communications by using the unsubscribe functionality in these communications.
16.0 Variations to Referral Program Terms & Conditions
Traders In Purple reserves the right (in its discretion and without notice) at any time to cancel, substitute or vary any of the benefits, terms and conditions of the Kings Quarter purchaser (in whole or in part); or
Traders In Purple will endeavour to give Kings Quarter purchasers notice of any cancellation, substitution or variation to the Referral Program under this condition by either email, mail or SMS and provide notice on the Kings Quarter website.
To the maximum extent permitted by law, Traders In Purple is not liable for any cost, loss or damage incurred in connection with:
(a) any withdrawal, cancellation, variation or change to these terms and conditions;
(b) any breach of these terms and conditions by any person or Traders in Purple ; or
(c) providing, or not providing, any Benefit.
18.0 Traders In Purple’s decisions are final
Traders In Purple’s decision on all matters relating to the Referral Program, including any dispute as to the identity of a Kings Quarter purchaser or entitlement to any Benefit, is final and binding.
19.0 GST and Tax
(a) The amount of any Benefit specified in these terms and conditions includes the amount of any GST or similar value added tax (if any) payable or arising on or in relation to the benefit.
(b) If providing any Benefit is the consideration for a taxable supply for GST purposes, the relevant Kings Quarter purchaser must deliver a tax invoice, or an adjustment note to the Traders In Purple entity who is the recipient of the taxable supply before the Kings Quarter purchaser is entitled to payment of any amount in relation to any Benefit.
(c) Any tax, liability or duty in relation to any Benefit provided to a Kings Quarter purchaser will be the sole responsibility of the Kings Quarter purchaser. Kings Quarter purchaser should contact their accountant or taxation advisor if they have any queries relating to the tax implications of the referral program.
20.0 Governing law
These terms and conditions are governed by New South Wales law. Any person relying on, or seeking to enforce, these terms and conditions submits to the nonexclusive jurisdiction of the courts of New South Wales and any courts competent to hear appeals from those courts.
If any provision of these terms and conditions is unenforceable or invalid, it must be read down so as to be enforceable and valid. If this is not possible, the provision may be severed without affecting the enforceability or validity of the remaining provisions.