Posts Tagged ‘gold coast property market’

THE Gold Coast property market is on the way back with houses selling almost 50 per cent faster than last year, according to RP Data figures.

The figures released yesterday also showed that the number of house sales across all coastal markets had increased almost 40 per cent compared to 12 months ago.

RP Data’s national research director, Tim Lawless, said that based on the findings the indications were clear that the coastal market was turning.

Last year, the average home on the Gold Coast spent 100 days on the market before being sold but according to the data that has dropped to 68 days this year.

This was less than many other coastal areas, including Coffs Harbour, Ballina and Cairns, where houses spent an average of between 70 and 90 days on the market.

REIQ Gold Coast regional manager Ray Milton said the figures were good news for vendors.

“If the time they spend on the market has come down, that’s a good side,” he said.

“If you look at the beach side of the highway sales, Broadbeach and Mermaid, they’ve always been highly sought after areas.”

The figures that vendors were less willing to drop the price of their home — a year ago the average vendor discount was 9 per cent while this year it is 8.4 per cent.

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