Aucklanders flock to Australia

Press, 26 January 1988, Page 5

Aucklanders flock to Australia

PA Auckland A third to a half of homes for sale in Auckland are on behalf of people moving to Queensland, real estate agents say. The exodus is so big the Real Estate Institute says property prices are being weakened in lower-price areas.

The president of the Auckland branch of the institute, Mr Garth Barfoot, said the number of properties listed was probably a record, and moving to Australia was a big reason. Two Henderson agents said possibly 50 per cent of their listings were from people planning to leave for Queensland. A New Lynn agent put his figure at 40 per cent, and in Howick-Pakuranga area two agents put theirs

at about a thircf. A Titirangi agent said, “I have never known so many people going to Australia.” While listings are up, however, sales have slowed. Almost all agents spoken to said that in seeking greener pastures, a number of people could get hurt. Many were going to Queensland on “spec” .in the ' hope that jobs would be available. While property prices would work to their advantage on arrival, the reverse would apply if they returned. A North Shore salesman said people leaving were selling $150,000 houses to buy in Queensland for $75,000 to $BO,OOO. “For the first time in their lives they have money in hand,” he said.