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All the property investment stars are aligning

NEW figures from property analysis company RP Data show Gold Coast homes are selling faster, with smaller discounts, in larger volumes and for higher Panerai Replica Watches prices.

The findings back up the widely-held belief by local agents that the region is set for recovery.

high rental occupancy, low interest rates and affordable housing had created the perfect conditions for an upward trend.

“All the property investment stars are aligning,” he said.

“It’s a time when everything makes sense.

“There is extreme value on the market because the negative growth has already happened.”

According to the Gold Coast Market Update released last week, both houses and units sold in the 12 months to July experienced lower vendor discounting than a year earlier.

The average house was reduced by just 7.5 per cent from its original listing price compared to 10.2 per cent and the average unit by 8.7 per cent, down from 11.5 per cent.

“Recovery in any property market tends to start at the very bottom of the market and work its way through into higher price brackets,” he said.

But he said discounting levels were not necessarily reflective of the market but rather how adventurous vendors felt.

Don’ttrying to “get in before the growth” so savvy sellers could afford to be less flexible with prices.

properties were also selling significantly faster.

According to the report, the average house was listed for just 96 days in the 12 months to July, down from 113 and the average unit for 113 days, down from 127.

the figures would have dropped further still in recent months.

Agents selling properties before they even hit the internet,” he said.

“There is a real risk of vendors underselling if they sell too quickly and that’s a problem we didn’t have 12 months ago.”

Gilston houses, which averaged the shortest time on market at 63 days, took exactly 100 days longer to sell the same time a year earlier.

The report also showed a 20 per cent increase in the number of sales with 14,318 recorded across the region including 1078 units in Surfers Paradise alone.

And there was a 2.1 per cent increase in the value of Gold Coast dwellings, the strongest annual growth since May 2010.

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Gold Coast was ticking off four out of the five fundamental criteria for a strong property market.

The Queensland and Gold Coast economies have been resilient over the past year; interest rates are at a 50-year low; unemployment is maybe the softest of the lot but is at acceptable levels now; population growth has been really strong; and housing affordability is at the best it’s been in about 10 years,

“Four out of five is pretty good.”

the figures from the year to July were impressive but the next set of data would be even better and there was no reason why the positivity should not continue.

Agents had experienced eight consecutive record-breaking months of sales and inquiry through realestate.com.au had quadrupled in the past three months.

The predicted vendors would soon be adjusting their expectations upwards and Gold Coast housing prices would grow.