The Gold Coast is set to be the best performing property market in 2017 with predictions of around 10 to 20 percent growth by the end of the year.
Similar growth is happening to the Sydney 2012 spurt as buyer activity on the Gold coast strengthens. Between 2009 to 2013 the property market on the Gold Coast showed a reverse turn and is set to play catch up since it found its feet between 2013 to 2015 and is very strong this year.
Gold Coast property values are continuously trending upwards since mid-2013, According to CoreLogic’s September 2016 quarter update, the median value for a Gold Coast house was up 6.6 per cent from 2015 while unit values had risen 4.7 per cent.
Real estate mogul John Mcgrath said Southeast Queensland, which has lagged the southern markets, would move to double-digit price growth this year, with its price gap between Sydney at its widest point.
You can purchase a decent unit on the Gold Coast just a short walk from the beach for around $250,000. Similar units in Sydney will set you back triple that at $750,000.
NAB’s latest 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 city who will be hosting the 2018 Commonwealth Games 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 Gold Coast Bulletin reported.
We will also see similar migration from this year through to next year from interstate buyers.
Original Source: rwsp.net