Gold Coast house values up, but number of sales down over past year
The Gold Coast recorded 12 per cent less property sales over the year to February 2018, according to CoreLogic, the property data research organisation of RP Data.
You would expect property prices would go flat or even fall, but in the last year house values are up 6.6 per cent, and unit prices rose 5.1 per cent.
One reason for this slightly confusing situation is there are still more buyers than the stock of available properties.
For property owners, that means it is still a sellers market.
If that trend can continue, prices could rise more.
In addition, investors may begin to return to the market more as banks are relaxing their lending criteria and rates, due to changes in APRA restrictions on bank loan books.
That could add more demand to the market.
Buyers who are currently in the market should pay close attention to suburbs next to those suburbs that have seen appreciable price increases. Purchasing in the up and coming suburbs may help you lock in a price now before they go up further.
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