September 28

Gold Coast houses standout performers of 2019

first_imgNew data shows the Gold Coast property market is ending the year on a high.THE new year is tipped to be a cracker for the Gold Coast’s housing market with prices back on the rise after months of stagnation.The Real Estate Institute of Queensland’s latest Queensland Market Monitor shows the city’s median house price has recorded its strongest quarterly result in the past year.Property experts believed it was a positive sign heading into 2020 and meant the market would go out with a bang come the end of the year.Houses were the city’s standout performers in the September quarter with the report revealing they were holding steady in the rising part of the property cycle. MORE NEWS: Where to buy a home in 2020 Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:12Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:12 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhen is the best time to sell or buy? Property cycles explained02:13 MORE NEWS: The suburb that topped the country’s highest sales listcenter_img “It was a 3.2 per cent gain in values to $640,000 across 1246 transactions – the strongest quarterly result recorded in the past 12 months,” the report read.“For the year to September 2019, the annual median house price fell 0.3 per cent to $625,000 across a total of 5359 transactions.”REIQ Gold Coast Zone chairman Andrew Henderson said the results marked a good end to a tough year. REIQ Gold Coast zone chairman Andrew Henderson. Picture: Jerad Williams“The quarter has been a very strong one, which has then balanced the year off to finish pretty well stable,” he said.“Because of that last quarter, it should lead to a strong start (next year).”While the year was shaping up to be a much more stable one, Mr Henderson said it might be tougher for buyers.“Stock levels are still low, which means buyers do have a little bit less choice on offer,” he said.“I still think the stock (numbers) will be lower than we’ve seen in past years.”McGrath Palm Beach co-director Josh Willatt said the biggest difference between now and the start of 2019 was market confidence. McGrath Palm Beach co-director Josh Willatt.More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago“We had a pretty horrible start to the year, the main thing was a lack of confidence,” he said.“The buyers have definitely got a lot of confidence (back) and they’re happy to pay that little bit extra to secure a property.“I think the $900,000 to say, $1.6 million on the Gold Coast is going to see really good growth.”The unit market painted a gloomier picture with the median price dropping 2.3 per cent over the quarter to $425,000 across 1578 transactions, according to the report.However, it softened by just 0.9 per cent in the year to September to an annual median of $435,000.CoreLogic’s The Year That Was … And The Year Ahead report tipped the Gold Coast to be one of Queensland’s strongest performers next year.“Outside of Brisbane, it’s the coastal markets that are showing the strongest growth trajectory heading into 2020, particularly the Sunshine Coast and Gold Coast regions situated to the north and south of Brisbane,” it read. “Demand for lifestyle properties, especially those with some depth to the local economy, within easy commuting distance to Brisbane and close to a major airport, are likely to increase in popularity.”last_img read more