Elite AgentOpinion

Catching the right wave: Michael Davoren

On the Queensland coast the humpback whales are slowly heading back south to Antarctica with their calves after their June to August migration to tropical North Queensland waters where they mate and breed.

This month we are hearing about another migration. A 130,000-strong people-wave is tipped to move from southern states, and more specifically Sydney, in coming years for Queensland’s more affordable property and good job prospects.

RE/MAX Managing Director Michael Davoren said Macquarie Bank researchers appeared confident the interstate migration would transfer more than $8bn equity into the housing market.

“Economically, Queensland is looking good and will attract not just big numbers of people but people who are asset-rich, which much of their wealth arising from Sydney property sales.

“This won’t damage the Sydney market. In fact, it will be welcome news for Sydney agents as it will bring increasing stock to the market, and good stock at that.

Mr Davoren has been anticipating a massively strengthening south east Queensland market so some time, while educating agents to prepare.

“Markets have been strong in Brisbane and south east Queensland for some time, but with a serious lack of stock for metro Brisbane and the Coasts.

Don’t confuse strong market with an easy market though, he warns.

“Stock will become even shorter in supply for Queensland agents, and agents need to be well-known in their market place before this happens.

“They need to be very active in their prospecting NOW to have the relationships in place in order to get the listings and have the stock they will require.

Mr Davoren also sees the changing markets as beneficial for the investor.

“It will provide opportunity to move any investment stock that has been sitting for a while, but importantly, the next few months may prove good timing for potential property investors to jump in and buy now.”

“I think we are entering a ‘golden era’ in Queensland but so called ‘booms’ lead to low stock levels.

“The really good agents will do well in such times; average agents will not. It is about the relationships and reputations the good agents have already established.

“As a top agent, you only want to catch the best waves,” said Mr Davoren.

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