The September quarter issue of Queensland Market Monitor by REIQ reveals that Gold Coast City recorded the highest quarterly median price growth increase of all the major centres in Queensland.
Gold Coast City is leading the charge in Queensland with continued solid growth in sales activity across residential property markets thanks to growth in employment opportunities.
Employment growth has come from infrastructure and residential developments providing more jobs in the construction industry as well as increased tourism also seeing a boost in job opportunities.
This in turn is seeing an influx of new residents coming into the area along with Sydney and Melbourne buyers looking for purchasing opportunities after being priced of out of the market and boosting property prices as a result.
The Gold Coast City house market was up 6 per cent over the quarter and 14 per cent over the year to September 2015 while median house price for the quarter was up 3.8 per cent and 7 per cent for the year.
Well located properties are performing strongly and in high demand with the majority of sales being claimed by units and townhouses.
Gold Coast City real estate agents report that investors and owner occupiers are looking increasingly to the off-the-plan apartment market due to the easy access to the inner city, infrastructure and beaches that brand new projects tend to have.
Tenant demand is strong with low supply levels resulting in a vacancy rate of 1.7 per cent.
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