Gold Coast Apartments – New Projects
Total new apartment sales for 2010 amounted to 710, up 9% on 2009 figures.
The last two years have been tumultuous for the new apartment market, with several projects experiencing settlement difficulties which have resulted in receivers being appointed.
During 2011 this stock will be re-launched and should result in a much needed kick start to the market.
The Gold Coast and Tweed Coast new apartment market reported 122 unconditional sales during the December 2010 quarter.
There were 1,510 apartments available for sale at the end of December 2010 equating to 37.1 months (3.1 years) of supply based on the current quarterly absorption rate.
Over the quarter two projects sold out and two new projects were added.
The Southport / Labrador Precinct were the standout performers for the quarter with a total of 49 sales.
The high rise sector recorded the highest number of sales across the high, medium and low rise sectors for the quarter with 64 sales.
The average sale price of a new apartment during the fourth quarter was approximately $657,437.
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