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Apartments for Sale on the Gold Coast Performing Well

By Amanda Shannon

An increasing number of people are investing in apartments for sale on the Gold Coast, according to new research.

The Real Estate Institute of Queensland stated that unit sales were up two per cent in Queensland over the March quarter 2013, when compared with last year.

And transactions in the Gold Coast are among the highest in the state, with a 19.4 per cent boost in unit and townhouse sales when 2012 and 2013 figures are compared.

Anton Kardash, REIQ chief executive officer, said it was "heartening" to see Queensland's holidaymaking hotspots on the road to recovery.

He remarked: "Many of these areas have become more affordable, even those with unique seaside locations, so this is no doubt spurring buyers into action before the tide has turned to the positive completely.

"There have been reports of late that the prestige market is improving and these figures support that with the numbers of sales between $500,000 and $1 million on the Gold Coast increasing nearly 30 per cent."

Last month, REIQ found that residential property on the Gold Coast posted its second quarter of consecutive growth, as median prices jumped 2.2 per cent to $475,000 during the three months to March.

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