Live SEQ, Property research | 2 min read

New apartments on the Gold Coast defying national market downturn

Anthony Hancock
Anthony Hancock
24/05/19

According to a recent report, the Queensland property market is looking extremely positive due to a combination of factors including rising migration, affordable home loans and increasing incomes. 

The PRD Nationwide Key Market Indicators (Q2) report found Queensland had the property growth indicators and economic fundamentals to boost confidence in the market. Migration to Queensland is up with a number of people moving from interstate, and net migration growing 22% in the 12 months to September 2018.

Proof that the South East Queensland property market is experiencing record high growth, off-the-plan apartment sales on the Gold Coast are currently experiencing high demand despite other national markets continuing to fall flat.

New apartment sales in the first three months of 2019 have jumped 45% from last quarter, according to the latest figures from property consultant company Urbis. Released this week, The Quarterly Apartment Essentials report, found new apartment activity in the first quarter of 2019 was up by more than 70 sales from the December 2018 quarter.

And it’s new apartments that have defied the market downtown, predominantly due to developers designing apartments that appeal to buyer appetite. And you might be interested to note that it’s owner-occupiers who have accounted for 43% of new apartment of sales.

The most popular region is the southern beaches precinct, stretching from Mermaid Beach to Tweed Heads, which experienced it’s highest recorded sales for the area in the past five years with more than 60% of sales for the quarter.

Source: Realestate.com.au