The Gold Coast property market has shown some promising signs in the last 12 months according to Herron Todd White’s 2015 February Market Report.
After a few years of difficult challenges, the property market has finally been gathering steam in the Gold Coast, particularly so in the central suburbs ranging from Main Beach to Mermaid Beach and out to Nerang.
Consequently, price increases have ensued for well-located dwellings due to a lack of supply, low interest rates and positive market sentiment, according to the latest Herron Todd White report.
“The best results have been found for residential dwellings with water frontage, located near the beach or presented to a high standard,” says the report.
In general, there are opportunities for investors looking at units, as price levels are still below the peaks of the market in 2007 and 2008.
“In terms of the unit market, confidence has increased however the capital gain has not been as significant when compared to dwellings,” says the report.
It’s the affordable end of the unit market across Gold Coast suburbs that has traditionally performed better than the luxury end, as the main demographic groups targeting this area are not looking spend too much money.