Gold Coast Property Market
There was a good article on the Today show this morning about Property on the Gold Coast. It was hosted by Ross Greenwood and he spoke about the turbulent times the Gold Coast has seen over the past few years and what the causes were. He highlighted the two big issues which has been the high Australian Dollar and tourism. The high dollar was one of the major causes of the slow down in tourism and this greatly effected the market on the Gold Coast.
Given that we run a Financial Planning business here on the Gold Coast this was a very interesting article. Ross discussed the turn around the market is experiencing at the moment and the drive that Brisbane is providing to this. The Brisbane market suffered quite a lot during the floods and then the change of Government caused some concerns. It has well and truly recovered and is surging ahead. It’s the market to watch over the next few years and this is having a positive effect on the Gold Coast Property market as well.
Prices here on the Gold Coast have not increased yet but are certainly heading that way. The volume of buyers out there in the market is a lot higher than it has been over the past few years. The Australian dollar is a lot lower, tourism is picking up, especially from China, and interest rates are low. These are all adding to the increase in demand for good properties in SE QLD. What we hope to see over the next 12 months is a slow increase in prices due to the massive demand for housing.
Lets hope this is the case and we see the markets return to a stable 5-6% growth rate over the coming years. Have a great weekend.