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Gold Coast Property ‘Approaches Recovery Phase’

By Amanda Shannon

Anyone who is considering making an investment in Gold Coast property may need to strike soon, as a new study predicts that prices will start to rebound in 2015.

The latest Prodap Report indicates that both house and unit prices will recover once demand starts to exceed the supply of new housing stock.

It revealed that the average price of real estate in the Gold Coast increased by 7.4 per cent during the March quarter of this year, matching average prices seen in Brisbane.

Speaking to the website, Prodap Report author Bill Morris noted that these are the first signs of uplift since the crash that began in 2008 as a result of the global financial crisis.

He believes that there will be massive benefits as a result of hosting the 2018 Commonwealth Games, which will bring employment opportunities to the area, as well as push up rental prices.

Residents of the Gold Coast are currently putting forward their opinions on how the legacy of the tournament should continue beyond 2018 to benefit future generations.

Local residents, schools, businesses, community groups and sporting clubs are among those being asked for their input by Commonwealth Games minister Jann Stuckey.

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