SOME good news for the Gold Coast with apartment sales reaching their highest level in five years.
Urbis Senior Consultant Lynda Campbell said their Apartment Essentials Report reveals 314 sales happened among 44 projects between April and June.
She said the “June quarter has seen the highest sales rate in over five years, that’s the fourth consecutive quarter that we’ve had an increase in the sales volume”.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
The average amount fetched was $558,838.
But she admitted we are still trailing behind the rest of the state because “the Gold Coast was pretty hard hit by the GFC and we’re starting to see confidence returning, developers are moving forward with new projects that were previously on hold”.
Ms Campbell also said “we’re seeing interstate and overseas developers buying sites on the coast and looking to launch”.
The “coastal fringe” was the best performer yet again. It takes in suburbs from Varsity Lakes, Robina, through to Bundall, Benowa and Ashmore. They offer strong infrastructure in the way of retail, employments nodes and office precincts.
It “outperformed all the traditional beachfront locations and given them a real nudge for the second time in the last 12 months and I think we’ll see a little bit of that back and forth between those more inland suburbs and the beachfront” she added.
Ms Campbell said they saw six new projects launched during the June quarter and there were six launched in the March quarter so there is a lot of new product coming onto the market.