Wealthy Australian Boomers Looking to Leave Some Change from “Sea Change”

Posted by — January 29, 2006

Wealthy Australian Boomers Looking to Leave Some Change from “Sea Change”

Wealthy Australian baby boomers are increasingly keeping one eye on posterity when they make the move to their sea change apartment or villa, according to prestige property specialist Simon Guilfoyle, of GQ Property Mooloolaba in Queensland.

“It’s definitely a trend: the boomers who have done well are increasingly looking for reassurance that they’ll be able to leave a legacy for future generations, a family estate, so to speak - and preferably one with water views,” Guilfoyle said.

“They’ve moved beyond just wanting trendy cafes and to be able to get a good latte, the sea change home also has to add up as an investment, a durable asset to leave for the grandkids.

“They’re very astute people and they want to know that the home they’re buying for their leisure years not only has the lifestyle benefits they want, but will also protect their wealth for future generations.”

Guilfoyle said the track record of prime waterfront property as a recession-proof investment was underpinning demand from sea changers and investors looking to convert gains from a booming Australian stock market into property.

GQ Property secured a spate of high end sales of waterfront property in the lead up to Christmas, as investors indulged in a down under summer buying spree.

“A three bedroom apartment at Aurora Villas at Maroochydore bought two years ago for $950,000 sold for $1.4 million, a 47 per cent increase,” Guilfoyle said.About GQ PropertyGQ Property specialises in marketing prestige properties in Queensland.It was founded at the end of 2004 by Valerie Guilfoyle, who was joined by husband and fellow director Simon in January, 2005.GQ Property, which is listed in Who’s Who in Luxury Real Estate, is able to offer 35 years’ combined experience in residential, project marketing and commercial sales and leases.

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