Queenslands Gold Coast is Booming and Beautiful
Queenslands Gold Coast is Booming and Beautiful
The Gold Coast is the best performing property market in 2017 and with predictions of 10% to 20% growth.
The same thing that happened in Sydney in 2012 is now happening on the Gold Coast, the fringe suburbs of Brisbane, and the corridor between the Gold Coast and Brisbane.
Buyer activity is very strong on the Gold Coast which is set to play a huge amount of catch-up after the market stagnated post GFC.
Between 2009 to 2013 the market stagnated and the reason was because many developers went broke during the GFC.
From 2013 to 2015 the market found its feet, like Sydney back in 2009 to 2012, and from last year to this year it’s all about growth.
Core-Logic’s regional market update on Gold Coast home values shows a continued trend of upwards capital growth.
The median value for a Gold Coast house, as at the end of September, was $579,753, up 6.6% from last year while unit values have risen 4.7%, to $379,634.
Real estate agent John McGrath has tipped the Gold Coast to have the top growth nationally in 2017, according to The Australian.
He said southeast Queensland, which has lagged the southern markets, would move to double-digit price growth next year, with its price gap ¬between Sydney at its widest point.
“You can buy a unit on the Gold Coast, a walk from the beach, for $250,000. The same unit in Sydney will cost $750,000,” The Australian reported Mr McGrath saying.
NAB’s Residential Property Survey (Q3 2016) also tipped the Gold Coast as a standout performer, naming it as one of the suburbs likely to achieve above average growth in the next 12 months.
The Gold Coast is expected to outperform everyone in 2017 with house price growth well into the double digits.
The city, which is set to host the Commonwealth Games in 2018, has had a surge in property prices on the back of a boost in tourism and new infrastructure — a trend which will likely continue in 2017, the The Gold Coast Bulletin reported.
Real Estate Institute of Queensland (REIQ) Gold Coast zone chairman, John Newlands told The Gold Coast Bulletin, “We’re going to have a low-interest rate environment and there will be opportunities leading into the Commonwealth Games,”
“We will see similar migration to this year next year, coming through from interstate buyers.”
So anyone who doubts that the Gold Coast is a great place to invest at the moment is asleep at the wheel and will definitely miss the boat!