Mayfair 101 Group property development and management division Mayfair Iconic Properties is buoyed by a surge in visitor bookings in the Mission Beach area as Queensland reopens following COVID-19 restrictions.
The reopening of Queensland’s borders has seen a surge in economic activity through an increase in holiday rental bookings and property prices in the Mission Beach region.
Mayfair Iconic Properties is playing a major role in a $1.6 billion redevelopment plan for the iconic part of North Queensland that includes Mission Beach and Dunk Island after significant damage from a cyclone.
The region’s economic activity will also be bolstered by the Cairns Regional Council allocating $2.9 million in its 2020–2021 marketing budget for the Cairns & Great Barrier Reef area.
Tropical Coast Tourism Inc executive officer Patrick Bluett said: “Since the easing of travel restrictions within Queensland, Mission Beach has experienced a strong recovery with demand high compared to other destinations within the Tropical North.
"As interstate restrictions ease, there is an opportunity to continue to grow that demand by tapping into the 9.5 million Australians who would normally travel overseas for a holiday.”
Castaways Resort general manager Steve O'Malley said: “The Mission Beach region certainly appears to be performing stronger than other regional destinations in Queensland.
"The region offers a natural environment of space and diversity that is unique and attractive to the domestic Australian market. The volume of bookings gives us confirmation of that.”
In the year to March 2020, National Visitor Survey data showed an increase of domestic visitor spend by 13% to $2.6 billion in the region.
At a national level in 2019, Tourism Australia reported that Australian domestic tourists spent $107 billion, with Australian international tourists spending $65 billion.
Mayfair Iconic Properties CEO Stuart Duplock said: “The rapid increase in visitor spend for Mission Beach before the pandemic shows promising signs of what lies ahead, after the reopening of the country.
“Over the past year, we are also seeing an upward shift in local house prices. Although it is too early to tell what effects the pandemic has had on Mission Beach house prices, there is anecdotal evidence that Mission Beach bookings are trending well against Cairns and Port Douglas post the border reopening.
“We are predicting that as more people travel, spend in the region, and move to the regions due to social distancing measures, it will bring more people to base themselves in Mission Beach or buy a holiday home to have their own slice of paradise by the Great Barrier Reef.
“We believe that people are seeing the promise of the area and are wanting to be a part of it by investing."
Mayfair Iconic Properties is the property development and management division of the Mayfair 101 Group, a global investment manager that focuses on activating opportunities that matter.
The company specialises in identifying iconic, unique properties and regions where the Mayfair 101 Group can add value by leveraging its relationships with development, architecture, environmental and sustainability specialists.
A key point of difference is the ability of Mayfair Iconic Properties to leverage the broader Group's assets in both the property, technology, financial services and other sectors in a cohesive manner to create value.
- PROVIDED BY MAYFAIR 101 GROUP