The Gold Coast is a very well known and popular holiday destination. It has a somewhat controversial reputation for Property Investing due partly to some of the Marketing Companies there inflating prices to cover huge marketing commissions and partly due to the continued aggressive marketing that continued through the '90's when the market was not performing and was mainly falling.
Despite the above, the last several years have shown the market is still one of the hottest markets in Australia, particularly for houses, with annual growth rates consistently in the 10-20% range prior to the general market slowdown commencing from 2008.
Investors need to appreciate today's market is very different to the '80's boom which was Tourism driven. Today the market is showing consistent, significant growth in the permanent residential market. Apartments are still an area investors need to treat with considerable caution, as this is where most of the problems in Gold Coast Property can be found. Because a number of the big Australian Marketing Companies were exposed by the Australian media a few years ago, most lending institutions and Valuers are treading very cautiously when it comes to assisting investors purchase apartments. Present data still suggests the apartment market is a little over-supplied and and investors need to be cautious.
With Population rates continuing to boom and a serious shortage of available land, the Gold Coast, along with the rest of South East Queensland, is still predicted to be one of the 'Hotspots' for Australian Property over the next few years. However, one of the biggest challenges for Investors is finding any quality land left in good locations where there is not an oversupply of rental properties being constructed.
(Price range A$480k+)
