Interstate buyers are finding value for money in Gold Coast City, with property prices a third lower than their Sydney equivalents.
Low interest rates, a 10 per cent rise in tourism, and the lowest home-loan rates in four years has made Gold Coast City an increasingly attractive location for buyers.
Gold Coast spokesman for the Real Estate Institute of Queensland John Newlands said interstate buyers are drawn to Gold Coast City not only because of the lifestyle, but also the affordability.
The median price of an apartment in Gold Coast City is $370,000, compared to $411,714 in Melbourne and $491,845 in Sydney, according to Australian Property Monitors.
Adding to buyers’ enthusiasm is the rising housing market, with RP Data records estimating Gold Coast City house sales have increased by 60 per cent over the last 12 months.
Rina Poke recently purchased her ninth investment property on the Gold Coast and said she thinks the low interest rates and bargain prices make now the ideal time to buy.
“My husband and I are always looking for a good buy in terms of location and price,” she said.
“It’s all about pre-empting booms.”
For more information visit RP Data, Australian Property Monitors or the Real Estate Institute of Queensland (REIQ).
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