Land for sale on the Gold Coast has seen a slight improvement in transactions in the September 2012 quarter, according to a new survey.
The Housing Industry Association (HIA) – RP Data Residential Land Report found that there was a decline in sales across the nation, but by comparison, the Gold Coast fared better.
Colin Buttenshaw, HIA executive director for the Gold Coast and Northern Rivers, said sales in Australia during the September quarter dipped 17.8 per cent, while the Gold Coast dropped by only 8.9 per cent.
He commented: “While the contraction is of concern, it is encouraging to see the Gold Coast’s volume of land in the September 2012 quarter is 6.7 per cent above sales in the same quarter in the previous year.
“Overall though, residential land sales, a key leading indicator of housing starts, are signalling a rocky road for new home building in 2013.”
He added that some bargains are available for investors as several areas are selling land for around $5,000 less than back in 2009.
Government incentives and tax cuts are what are needed to stimulate the sector, Mr Buttenshaw claimed, saying that state and federal governments need to help an industry that is currently too overtaxed.