Half price airline tickets to boost property investor interest in coastal Queensland locations
The federal government's latest tourism recovery package seems set to ignite investor and owner occupier purchasing interest in coastal Queensland property in coming months.
Between May and July, the federal government will subsidise the price of nearly 800,000 airline tickets as part of a $1.2 billion tourism package aimed at getting more Australians to spend big on domestic holidays.
A 50 per cent discount via taxpayer-subsidised airfares will be offered for flights to and from 13 regions that typically rely heavily on international visitors.
The 13 destinations include the Gold Coast, the Sunshine Coast, Cairns, and the Whitsundays region.
"This package will take more tourists to our hotels and cafes, taking tours and exploring our backyard," Prime Minister Scott Morrison suggested.
But the property industry have expectations the visitors will also spend up on property, and some will even sell up down south and stay in Queensland.
The destinations also include the Lasseter region which includes Uluru, Alice Springs, Launceston, Devonport, Burnie, Broome, Avalon, Merimbula and Kangaroo Island.
Last year during the height of the pandemic Ripehouse Advisory released its COVID-19 Australian Property Report warning property buyers and investors should avoid buying in locations highly dependent on travel and tourism.
Ripehouse Advisory estimated locations heavily exposed to tourism and travel had quickly experienced an average reduction in value of 2.5 per cent, and some have seen more than 10 per cent.
