Price of Gold Coast Property Increases

By Amanda Shannon

The Queensland property market as a whole has experienced a strong year, with average prices increasing in ten out of its 12 major regions.

This is a trend that has been seen for Gold Coast property, which has posted its second quarter of consecutive growth, the Real Estate of Queensland (REIQ) has revealed.

Median house prices increased 2.2 per cent in the three months to March, suggesting that people are keen to invest in real estate in the Gold Coast.

This means that the average house price now stands at $475,000, which indicates that confidence is starting to return to the market.

Chief executive officer of the REIQ Anton Kardash said: "As we forecast last year, our property market continues to record healthier results with the positive yearly figures also highlighting that residential sales have turned a corner."

This is not the only good news for Queensland real estate, as recent figures from SQM Research showed that rental properties are also in high demand throughout the state.

The national vacancy rate stood at two per cent in April, marking a slight increase of 0.1 per cent compared to the previous month.

Analysis from the group suggests that more renters may be keen to make their first steps on the property ladder.

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