The Courier-Mail - Home - - HOUSE AND LAND -

The Gold Coast has al­ready claimed gold, with the 2018 Com­mon­wealth Games cred­ited with boost­ing me­dian sales prices across the re­gion.

The me­dian price of land on the Gold Coast rose 22.8 per cent in the 12 months to Septem­ber and 57.2 per cent over the last three years, ac­cord­ing to a re­cent re­port by prop­erty re­search and ad­vi­sory firm, Oliver Hume.

This com­pared to 5.9 per cent for the whole of south­east Queens­land in the last 12 months.

First home buy­ers con­tin­ued to ac­count for most pur­chases in Queens­land, ac­cord­ing to the re­search.

Oliver Hume Queens­land gen­eral man­ager Matt Barr said af­ford­abil­ity was one of the key fac­tors sup­port­ing the land mar­ket.

“Af­ford­abil­ity un­der­pins most of the growth in the area, with in­ter­state buy­ers and in­vestors tak­ing ad­van­tage of en­try level prices that sit well be­low that of many other ma­jor Aus­tralian states,” Mr Barr said.

“Lo­cal buy­ers are also drawn by the af­ford­abil­ity of the mar­ket, with many buy­ers be­ing priced out of the in­ner Bris­bane mar­ket, caus­ing them to seek more af­ford­able op­tions in south­east Queens­land growth ar­eas.”

He said the Gold Coast con­tin­ued to ex­pe­ri­ence strong price growth but con­tin­ued to be ham­pered by low sup­ply, with just 23 projects cur­rently in the mar­ket.

“Due to a lack of stock avail­able within the More­ton Bay and Gold Coast re­gions, pur­chasers are mov­ing to­wards the Ip­swich and Lo­gan cor­ri­dors,” Mr Barr said.

“We see the Gold Coast as the strong­est prop­erty mar­ket in Queens­land with pop­u­la­tion growth re­main­ing ro­bust and sup­ported by sev­eral ini­tia­tives and in­fras­truc­ture projects in­clud­ing the Gold Coast 2018 Com­mon­wealth Games.”

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