Gold Coast Housing Market: A Good Time to Invest?
Since the disruption of the GFC, the Australian housing market has been relatively flat. Hit particularly hard were coastal areas, a lot of which housed high priced holiday homes. After values suddenly dropped, many were forced to sell.
Fortunately, RP Data figures released this past May suggest that the Gold Coast housing market is making a comeback and looks to carry forth momentum going into the coming seasons.
Analysts have suggested that though the housing market has showed signs of recovery, with a 4.8 percent increase over the past year, the unit market is yet to show such many positive signs.
The low buy prices may still take a while to recover, though with a long term mindset it’s a good opportunity for investors. Though on the shorter side you can also see good rental returns.
Currumbin has proven to be the best performer in the state with Gold Coast suburbs Upper Coomera and Helensvale seeing 389 and 321 sales respectively over the past year.
The most recent Fitch Ratings mortgage delinquency report echoed these positive sentiments, stating that “coasts regions in Queensland such as the Gold Coast and Sunshine Coast continued to show a significant improvement in performance over the 12 months to March.
The report carried on to say “the Gold Coast east was the region with the greatest improvement in mortgage performance in Australia during the six month to March 2014, thanks to a rebound in the local housing market and the strong clearance rates that in turn reduced the level of 90 day arrears.”
For the foreseeable future coastal towns look to be recovering. As long as the Gold Coast continues to leverage its popularity to spearhead this growth, we will see property prices increase.