Games good as gold

“Mil­lion-dol­lar” medals have been won in the sub­urbs af­ter the Com­mon­wealth Games

Weekend Gold Coast Bulletin - Property - - FRONT PAGE - WORDS ALEISHA DAW­SON

THE Gold Coast prop­erty mar­ket has been de­scribed as one of the “big win­ners” from the 2018 Com­mon­wealth Games.

New data re­leased by the Real Es­tate In­sti­tute of Queens­land shows me­dian house prices on the Glit­ter Strip are $35,000 more on the same time last year.

REIQ’s Quseens­land Mar­ket Mon­i­tor for March said the strong pop­u­la­tion growth came on the back of in­fra­struc­ture projects such as the $550 mil­lion Gold Coast Health and Knowl­edge Precinct and M1 up­grades.

“The house and unit sales mar­kets con­tin­ued per­form­ing well and in pos­i­tive ter­ri­tory for the year to March 2018,” the re­port states.

“The fore­cast for the re­main­ing of 2018 is a bit more con­ser­va­tive. We ex­pect house prices will show an up­ward path in 2018, how­ever this growth will most likely be more mod­er­ate.”

The re­port found the num­ber of mil­lion­dol­lar sub­urbs in­creased from five to six with Par­adise Point re­turn­ing to the list.

Sub­urbs that are part of the mil­lion-dol­lar club in­clude Mer­maid Beach, Surfers Par­adise, Broad­beach Wa­ters, Clear Is­land Wa­ters and Par­adise Point.

The fastest-sell­ing sub­urbs on the Coast in­cluded Woron­gary, Mer­ri­mac, High­land Park, Mudgeer­aba and Car­rara.

REIQ Gold Coast zone chair­man An­drew Hen­der­son said he ex­pected in­ter­state mi­gra­tion to con­tinue to ben­e­fit the city.

“I ex­pect the mar­ket to re­main strong,” he said. “There is a heavy amount of in­ter­state buy­ers mov­ing here.

“I was at an auc­tion re­cently where the win­ning bid­der was from Syd­ney and the un­der­bid­der was from Mel­bourne.”

Mr Hen­der­son said grow­ing em­ploy­ment op­por­tu­ni­ties were also at­tract­ing home­buy­ers to the city.

The re­port also re­vealed the rental va­cancy held tight through­out the first quar­ter of the year at 1.1 per cent.

The Coast prop­erty mar­ket is one of the “big win­ners” from the 2018 Com­mon­wealth Games.

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