Dec
03

Gold Coast rental market tipped to remain tight over next year

ABC News

An independent property adviser says he does not expect rental demand on the Gold Coast to ease over the next 12 months.

 

Gold

 

Vacancy rates remain at a record low of about 1 per cent.

Luke Nichols from Herron Todd White said the Gold Coast market was strong.

“Certainly in terms of apartments and townhouse type product you’ll continue to see good interest from investors because the reality is our property prices for new units will be well below what they are paying in Sydney and Melbourne,” he said.

Property analysts say prices are climbing more quickly on the Gold Coast than in Brisbane.

Latest data from CoreLogic RP Data shows Brisbane is one of only three capital cities where values rose in November.

They have grown by about 4 per cent in the past 12 months.

“Whatever growth you see in Brisbane you’ll probably experience a similar level if not a bit stronger level,” Mr Nichols said.

“Our market certainly up to about a million dollars is pretty strong and has seen pretty good growth over the last 12 to 24 months.”

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