Gold Coast Property Market
Gold Coast real estate market early 2021 is working its way out of the effects of the Coronavirus Pandemic and out of Australia’s first recession in 30 years. Real Estate Institute Queensland expects Gold Coast property prices to “increase dramatically” in 2021.
With the lock-down of Queensland’s borders and the decrease in migration that happened earlier this year. Capital cities have witnessed most of the fall in both property listings alongside in a decline of house prices. Investment properties took the brunt of these falls in capital cities. While regional and sort after areas like the Gold Coast bucked that big-city trend as people look at lifestyle changes.
Real Estate Institute Queensland expects Gold Coast property prices to “increase dramatically” in 2021, while a A surge in first home buyers is set to fuel house price hikes, with the Real Estate Institute of Queensland (REIQ) tipping property values will “increase dramatically” in 2021.
Whilst the Gold Coast may be about to come into a heavy oversupply of apartments with approval and construction underway there’s a limited supply of new residential land available on the Gold Coast as well, so investors may want to consider house and land packages for investment as well.
Gold Coast Property Market Overview 2021
Gold Coast property market could well be the prime beneficiary of Sydney and Melbourne’s property market higher priced entry levels, with the economy in general starting to turn a corner after Covid 19 pandemic with Queensland re-claiming its place as Australia’s top rating destination for internal migration, as more families and downsizers from the southern cities cash-in for a lifestyle in the sun.
Economic growth and jobs are closely tied to every property market’s performance and for Queensland, confidence has returned to the Gold Coast property market since the federal election with the fear of negative gearing being abolished removed. Affordability combined with record-low interest rates make it an ideal time to invest into property. We are starting to see a strong surge from buyers relocating to the Gold Coast from Sydney and Melbourne whereby they can sell up at a higher price and purchase possibly a better property and have money left over.
Continued tourism growth, surging gas exports and the strongest annual growth in jobs in more than a decade for Queensland combining for strong potential for the Gold Coast property market.
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