Buyers Agent Gold Coast - Current Property Market Report - 2019
Experienced Buyers Agents focused on The Gold Coast Property Market, have confirmed that quality properties, in housing , units and villas can still be bought at good prices
and decent yields across most suburbs on the gold Coast. Suburbs such as Southport , Surfers Paradise and Broadbeach are still trending up.
Revised Article by Craig Greer-Smith , Managing Director of Networth Property Consultants, Gold Coast. Recent update , Jan - March 2019 :
Networth Buyers Agency have recently analysed the property data and reports that are being updated to reflect recent sales and price movements. Right across most regions, the city of the Gold Coast has experienced firm property prices and good new build growth over the past four years. Although the rate of growth is slowing in response to the tighter credit conditions, the upward trend is still in place although there is some slowing in momentum. According to this report https://www.realestate.com.au/news/gold-coast-houses-to-soar-by-2020-according-to-latest-report/ the number of properties transactions has risen with a solid tail wind of demand from local home buyers as well as interstate property investors. The recent sale prices being realised across all property types and locations is an indication that the Gold Coast region is now being seen as one of the better area's in Australia to buy property right now.
Additionally, research undertaken by CoreLogic's regional market update, shows that buyers of Gold Coast property, whether water front houses, units , villas or townhouses to December 2017 saw values rise by 7.6 per cent to $634,423. This average value is for house and land in good locations. A number of Gold Coast Buyers Agents were also recently canvased as to the state of the market from their clients perspective regarding their buying intentions. The urgency to purchase has cooled a little but there still is good demand coming from Sydney and Melbourne clients for investment properties . The difference in valuations between the two regions is quite stark said Craig Greer-Smith of Networth Property.
The value increase for canal homes and penthouse size apartments has risen even further. There is also growing demand for high end beachfront and riverfront property where strong buyer interest is driving a lift in prices. Visit https://www.corelogic.com.au/ to view the report. The sea change concept appears to be making a come back with most well placed property in prime locations all along the coast beach strip is seeing good demand.
It appears there is still good news to come for home owners and investors doing their homework and considering buying into the Gold Coast market. Top suburbs like Broadbeach Waters , Burleigh Heads , Mermaid Beach, Paradise Point, Runaway Bay and Palm Beach are performing quite strongly with potential buyers prepared to compete at open listings and auctions to secure a good deal. Networth Buyers Agents Managing Director, Craig Greer - Smith said it was a good time to be acquiring property into this growth market as the trend is still up and should have further room to grow. He pointed to an in depth report from Insurance provider QBE that has predicted house prices for most of the suburbs on the Gold Coast could rise 6 per cent to 2020 to a record median house price of $685,000.
This sort of prediction by QBE is fairly well supported with a detailed national report on the state of the overall outlook , you can read the article here: https://www.qbe.com.au/campaigns/housing-outlook
Earlier REIQ Gold Coast chairman John Newlands stated that strong property growth was a major milestone for the Gold Coast. He said the driving forces behind the increase was continuing strong population growth and employment. Most recently, the number of cranes on the horizon is at a multi year high , with over 30 new buildings either under construction of planned. This is having a significant impact on jobs and bringing in a growing number of trades people to build these projects. In spite of the tougher credit conditions now being imposed by the banks on applications, many new projects are still seeing good pre sales with the high level of marketing bring in more interstate buyers.
After a few torrid years during the GFC where buyers deserted the local market and many media experts were negative on the outlook, this has now significantly changed and many of those same commentators are now predicting that the Gold Coast property market is well placed to attract a broad range of buyers that still see very good value in the diverse type of properties available here. Another growing trend is the baby boomers and retirees are downsizing and moving to beach side
suburbs again after an absence of a number of years. This type of buyers is less impacted by the tighter credit conditions.
So what are the main Gold Coast property market drivers ?
More Jobs from More Construction
Leading up to the 2018 Commonwealth Games, major developments on the Gold Coast have been transforming the city into what many
local residents consider – Australia’s most beautiful city.
There is currently a large and growing number number of new construction and infrastructure projects currently taking place within the region and there's been a higher number of related job opportunities now available. This helps drives demand and many people are moving there to take advantage of the great Gold Coast lifestyle and new job opportunities. Buyers Agents based on the coast are reporting strong enquiry from local, interstate and overseas investors. Returning expat australians are also buying into this market.
Reasonable Foreign Interest from the Lower Australian Dollar
The Australian dollar has fallen quite a way and this has attracted more foreign visitors and investors. As more people are traveling on holidays and conference visits to the Gold Coast they are getting interested in buying property here.
The low Aussie dollar definitely makes houses and units appear comparatively cheap to foreign investors as many are seeking out a bargain.
Population Expected to Double on the Gold Coast by 2045
Bernard Salt who writes for many publications has stated that the Gold Coast should prepare for a population of close to 1.2 million people
in the next 30 years. Mr Salt says the 2018 Commonwealth Games will help provide needed infrastructure and council services and help
promote the city to the world. The obvious conclusion from this type of population growth is increased demand from buyers and renters as new residents compete for available properties.
Buyers Advocates and Agents claim the Gold Coast Property Market may be the safest place to buy at the moment.
With a combination of factors such as population growth, increased job opportunities and the low Australian dollar all contributing to a strongly performing Gold Coast property market, seasoned industry buying advocate experts expect the Gold Coast to see strong continued property market growth, and believe now may be a good time to start doing the required due diligence to enter the market while house and unit prices are still relatively affordable.Article revised and edited by Craig Greer-Smith , Networth Property Consultants for 2019