Gold Coast rental properties could be in high demand
Renting remains a popular choice for many people across Australia, especially in areas where property prices mean it's not very easy to get onto the ladder.
As a result, if you've invested in Gold Coast rental properties, you may have seen a rise in interest from local renters, not least because first-time buyers are finding it tough to secure finance.
The Australian Bureau of Statistics (ABS) released its July figures, which pointed to a 1 per cent month-on-month fall in the number of home loans granted to first home buyers.
They comprised 12.2 per cent of the total lending market, down from 13.2 per cent in June.
Responding to the data, the Real Estate Institute of Australia's president Peter Bushby explained how affordability constraints are making it tough for people to secure a home of their own.
"There is a chronic under-supply of housing and added to this many state and territories have abolished home buyer grants for established dwellings which has further undermined the confidence this group needs to enter the market," Mr Bushby commented.
Until these issues have been addressed, it could be the case that people are still keen to move into apartments to rent in the Gold Coast until they can afford to buy.