Property Pressure On The Gold Coast
The region’s housing has soared following a decade of growth.
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Property market pressure on the Gold Coast is now some of the highest in the country according to data released by InvestorKit.
In its Market Pressure Review report, the analysis indicated Broadbeach-Burleigh experienced the most significant growth with property prices increasing 38.2% from August 2020 to August 20221.
The southern Gold Coast region of Coolangatta experienced the second-highest growth rate, 21%, followed by Surfers Paradise at 18.9%.
Over the last 10 years, from 2012-2021, the report found houses significantly outperformed units.
Median house prices in Broadbeach-Burleigh and Coolangatta grew 131% and 102% respectively. Unit prices in the same areas saw increases of 53% and 86%.
Over the past 12 months, the Gold Coast has experienced a demand-led boom with monthly sales volumes growing 39.9%, while the total monthly listings have fallen 7.3%. Vacancy rates are at a crisis level with most of the regions at lower than 1%.
Forecasts – which indicate where there’s high levels of market pressure there is high ras of capital growth – suggest the Gold Coast region will continue to perform strongly over the next six to 12 months.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
