Property market stays locally owned

A recent study by Opteon Property Group has found that the majority of buyers in the Airlie Beach region were locals despite concerns about the volume of overseas investment.

Out of every sale taking place in the 4802 postcode during 2015, 57% of buyers were from the area.

Real Estate Stock Photo

Data from the survey shows that locals were responsible for 50% of land sales and for 70% of houses in the year gone by, with owner occupation rates very high as well.

Investment properties are also a popular choice for both locals and external investors due to low interest rates and property prices.

65% of all units were purchased by people from outside the area as investment properties.

With the termination of the deal involving Waterson Way with Whitsunday Chinatown Investment, the expectation of OPG is the Council will put the land back up for tender.