Homes continue to be affordable in Gold Coast City according to Aussie Home Loans founder and executive chairman, John Symond who discussed housing affordability at the 2016 Titans of Industry Forum at Bond University yesterday.
Mr Symond said the property market in Gold Coast City is now coupled with a more stable economy and based on a wide range of industries such as health and education and infrastructure spending thank to the upcoming 2018 Commonwealth Games.
“I see it as a healthy increase which is attractive to people looking for affordable property and investors,” he said.
“You are far better getting into first-home ownership on the Gold Coast than you are in Sydney and Melbourne.”
This follows data released by CoreLogic RP Data showing the 2015 median house sale price in Gold Coast City was up 7 per cent to $565,000 which compares to $875,000 in Sydney and $589,000 in Melbourne.
CoreLogic RP Data senior research analyst Cameron Kusher was at the panel at Bond University and said that generally, Gold Coast City was better positioned to withstand large fluctuations in house prices than seen in the past.
“As a region gets bigger and more diversified in terms of the economy, you are less susceptible to boom and bust,” he said.
Mr Kusher said Gold Coast City was seeing moderate levels of growth off the back of weak conditions previously.
“That type of growth that you want,” he said.
First home buyers can also take advantage of the Great Start Grant, a Queensland Government initiative providing first home owners with $15,000 towards buying a new house, unit or townhouse (valued at less than $750,000).
Bohème Apartments are available from just $459,000 and Robina Group are currently offering first home buyers a welcome pack including brand new fridge, television, window dressings and more to get first home buyer off to a great start.
