The Gold Coast City residential property market is going from strength to strength and new independent research released today further demonstrates this.
CoreLogic’s quarterly update of regional Australian markets reveals that Gold Coast City had the largest increase in property sales for the year to February 2016 with a rise of 7.3% to a total of 19,516 dwelling sales.
Positive figures were also recorded in the rental market reflecting the current high levels of tenant demand for quality, centrally located property. Units recorded a rise of 5.4% in rents achieved and the City’s unit rental yield hit a desirable 5.9%, while houses showed a 5.1% yield, with a 4.2% rise in rental rates achieved.
Key Residential Research Findings
- Overall, Gold Coast City median sale prices increased by 7.2 per cent for houses and 4.8 per cent for units, over the 12 months to March 2016.
- Sales activity across the Gold Coast City property market recorded a substantial rise – the past year’s sales volume was 24 per cent higher than the five year average for the region.
- Vendor discounting has dropped to less than it was one year ago, with average discount levels now at -5.4 per cent for houses and -5.7 per cent for unit sale prices (discount compares the recorded sale price to the asking price).
- The average time to sell a home in Gold Coast City also fell, down 4 days for both houses and units, with the average now 70 and 87 days respectively (March 2016).
Take advantage of the rising Gold Coast City residential property market now. Secure your premium new apartment at today’s prices in Boheme Apartments at the heart of Gold Coast City in Robina. Limited stock remains, so act quickly to secure your choice of apartment.
