Gold Coast City, South East Queensland
As the excitement of the 2018 Commonwealth Games abates, reliance will fall on interstate migration and strong tourism numbers to support the property market.
New infrastructure like the light rail system, upgraded casino, expanded shopping centres and the Carrara stadium will add appeal and influence the decisions of potential buyers.
However, buyers need to be aware that the long-term impact of the Games could be over-rated. Our analysis of sales activity suggests that the Gold Coast property market has passed its peak, having been strong in 2015 and 2016 in the lead-up to the Games.
The Gold Coast property market has a history of boom-bust cycles and, with large numbers of high-rise units continuing to hit the market, the threat of another oversupply is real. Currently vacancy rates are low across the Gold Coast, but this may change as new apartment supply hits the market in coming years.
Investment in the Gold Coast market should entail extensive due diligence before deciding what and where to buy.
This report covers suburbs such as Ashmore, Benowa, Biggera Waters, Broadbeach, Broadbeach Waters, Burleigh Heads, Burleigh Waters, Carrara, Coolangatta, Coombabah, Coomera, Currumbin Waters, Elanora, Helensvale, Labrador, Main Beach, Mermaid Beach, Mudgeeraba, Nerang, Ormeau, Oxenford, Pacific Pines, Palm Beach, Paradise Point, Parkwood, Pimpama, Robina, Runaway Bay, Southport, Surfers Paradise, Upper Coomera and Varsity Lakes.