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We all want to live, or at least holiday, in the Gold Coast - so it's no wonder Gold Coast real estate is a booming market, with great investment opportunities. Before you start looking at houses for sale in the area, have a look at the state of the market so you can get your bearings.
Construction is up
The construction of residential housing is a major stimulus for the economy, so it's no wonder that the top three states in economic growth are also the top three states in construction activity, according to the October State of the States report by Commsec.
Not only is residential building looking good in the Sunshine State, but commercial and other non-residential construction sectors are playing their part too. The overall confidence in the construction industry in Queensland was the second highest in Australia, well above the national average, and improved from the September quarter to the December quarter, according to the December quarter Property Council Survey.
Not only does increased building across the state mean a stronger economy for Gold Coast residents, it also means greater housing opportunities. The supply of new housing is also one of the biggest ways to reduce the price of existing houses for buyers, by introducing new stock to the market.
Values are increasing
For those looking to sell their property in the Gold Coast, there is good news as well. According to the RP Data CoreLogic Daily Home Value Index Report for October, Brisbane-Gold Coast was one of three of the Australian Securities Exchange (ASX) five capitals to have homes increase in value for the month to 31 October.
Houses increased by 0.7 per cent for the month, and units jumped up 0.3 per cent, the second strongest growth in units. Investors will be glad to know that rental yield for properties in the Gold Coast is looking good too.
According the Home Value Index, Brisbane-Gold Coast has the highest rental yield for both houses and units out of the ASX five capitals. Houses are achieving a yield of 4.5 per cent, and units are hitting 5.4 per cent.
The opportunities for buyers, sellers and investors make the Gold Coast a veritable hot-pot of real estate activity. For those looking to take a dive into the property market in one of the hottest locations around, housing in the Gold Coast should definitely be on your radar.
