Gold Coast property market to strengthen

GOLD COAST homebuyers are not expected to have to face any more interest rate rises this year.

A majority of economists predict the official cash rate will remain on hold when the Reserve Bank meets this afternoon.

It is currently 2.5 per cent, and would mark the 16th month that the RBA’S held off on ordering an increase.


The Real Estate Institute of Queensland’s John Newlands said confidence seems to have returned to the local property market this year.

He said “I think that’s sort of underpinned by some major projects like Pacific Fair, the light rail completion and then leading through with all of the infrastructure coming up to the Commonwealth Games”.

“I think that the coast has certainly turned a corner and people have renewed their confidence and their love back on the Gold Coast” Mr Newlands said.

He also predicted that both sellers and buyers would benefit from conditions early next year.

As well, Mr Newlands forecast that overseas investment in the Gold Coast would grow into 2015.