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PROPERTY ON THE GOLD COAST SET TO RISE 11 PER CENT IN 2016!

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The tell-tale signs of a property boom are finally here, and all that glitters, is gold! Predicting the upsurge in Sydney’s property prices repeatedly, Louis Christopher, the managing director of SQM Research is now placing his bets once more on the glittery Gold Coast.

With SQM research showing low vacancy rates of under 2 per cent and rent rises of up to 8 per cent a year in the region, these assumptions start to take real, tangible shape. A property boom is finally here folks.

Before we proceed any further, let’s take a step back into 2010. A significant roll out of events caused a downturn in the Gold Coast propery market, and we have only experienced a modest recovery, up until now. SQM now expects a rise of between 7 and 11 per cent in property prices for 2016.

If we look at what is happening in the market at the moment, there is plenty of positive commentary, with Ray White’s Prestige Surfers Paradise’s Robert Graham also weighing in on the forecast.

“Certainly we are seeing a lot of growth in the sub $2 million mark. Demand far outweighs supply.”

The above words are echoing true, with big plans in the pipeline for Citimark and China’s Wanda Group, both with large apartment projects underway to meet growing demand. Citimark already investing in over $1billion worth of high-rise apartment towers planned at Surfers Paradise and Chevron island.

Joint managing director Angus Johnson has also noted that the fundamentals for a property boom on the Gold Coast have never been stronger, and that property growth is being fuelled by a lack of supply and a growing demand.

With the winds of change in the air, the Gold Coast property market is gearing up for some strong, positive growth.

 

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