There’s been a lot of talk of the strong Sydney and Melbourne property markets booming in recovery mode, with sales growth and values continuing to rise.
According to property expert John McGrath, what happens in the Sydney market recovery will eventually happen everywhere else.
As predicted, Gold Coast City is now beginning to share the good news with Sydney and Melbourne, with recent evidence of strengthening of market conditions across our region.
The Real Estate Institute of Queensland (REIQ) reports steady growth in Queensland’s residential property, including the unit and townhouse market, and according to REIQ CEO Anton Kardash, this represents firm recovery in Queensland’s real estate market.
Sustainable growth is evident through a rise in median prices, quicker sale times and the absence of rapid price swings, which Kardash says is ‘the sign of a healthy market’.
Growing confidence in Queensland tourism regions, including Gold Coast City, is helping to boost sales and is indicative of increased buyer confidence.
Following sales volume increases for the last four quarters, Gold Coast City has seen a 4.2% increase in median house prices.
Further, McGrath notes an increase in investors from Sydney and Melbourne in South East Queensland, as they recognize ‘better value for money and stronger yields available compared to their home cities’.
According to the Matusik Market Outlook report, analysing sales volumes are the key to knowing where the residential property market is heading and the sales volumes in Queensland are looking decidedly positive.
Queensland residential sales as at May 2014 are up 14% on last year and when the spotlight shines on our region, Gold Coast City has seen a remarkable 53% increase in sales since last year.
Matusik advises that this sales surge indicates a recovery in the market, which is music to the ears of potential Gold Coast City home-owners and investors.
It’s all a good news story for Gold Coast City as our property market defies winter and continues to heat up.
