News

Find out what’s tipped to define the Gold Coast market in 2018!

By Jared Hodge

The GOLD Coast is known for its glitzy property appeal but a more solid foundation is tipped to define the market in 2018.

Property experts say infrastructure in the northern and central suburbs will contribute to an already booming market, buoyed by the buzz of the Commonwealth Games.

  The Coomera Town Centre under construction

  Artist impression of the Westfield Coomera Town Centre

“I think the continued large amount of private enterprise infrastructure like the Westfield Coomera Town Centre, Sunland development at Mermaid Waters and The Star Gold Coast with its part-hotel, part-residential works will expand those areas,” newly appointed REIQ Gold Coast zone chairman Andrew Henderson said.

CoreLogic’s latest data to October 2017 revealed the median house price on the Gold Coast jumped 7.7 per cent in 2017, almost twice as fast as the national average.

Mr Henderson predicted prices would continue to increase, thanks to a seller’s market in the central suburbs.

  REIQ Gold Coast zone chair Andrew Henderson. Picture: Jerad Williams

“Most of the housing development is in the northern corridor, leaving the vast majority of the Gold Coast with existing stock to purchase in the central areas,” he said.

He said a wave of beachfront apartment developments was expected to be snapped up by locals wanting a sea change, and by savvy investors.

The CoreLogic report showed a 12-month increase of 3.7 per cent for median unit sales on the Coast.

“In terms of looking ahead, interstate migration is quite strong, jobs are very strong, there’s a significant amount of spotlight on the Commonwealth Games and then the infrastructure is a massive draw-card to keep bringing people in.”

Source:

https://www.realestate.com.au/news/find-out-whats-tipped-to-define-the-gold-coast-market-in-2018/

Up to Date

Latest News

  • Gold Coast Office Market Small Suites Report

    Gold Coast Office Market Small Suites Report The six months to January 2018 has been a standout start to the year for the Gold Coast office market, resulting in positive take up of space coupled with withdrawal of stock flowing through to compression in total vacancy to 10.6%. This is the lowest rate recorded for … Read more

    Read Full Post

  • Commercial Property Predictions for 2018

    Commercial property behaved mostly as expected in 2017 Yields continued to firm, tenants were back in the market and the office sector did particularly well, benefiting from business growth and, in the case of Sydney, withdrawal of stock. Meanwhile, Amazon finally made its relatively lacklustre entry into the Australian market. … Read more

    Read Full Post